Are you a Sex Worker or an Exotic Worker and wondering if you should file taxes or not?
The best answer is “That Depends”
You have to file an income tax return if your net earnings from self–employment were $400 or more. If your net earnings from self–employment were less than $400, you still have to file an income tax return if you meet any other filing requirements. ~ IRS.Gov
If you keep track of your expenses closely this will help offset any tax you may owe. Download our expense sheet here
Do you have a day job with a W-2? You still need to report your side activities. Do you have children you claim? The child tax credit was doubled to $2,000/child. You may even be eligible for Earned Income Credit.
Do you want to form an LLC or S-Corp? We can help file and set up your LLC.
Have you tried doing your own taxes and didn’t know where to start?
Will IRS come after me if I don’t file?
Do you want to buy a home? Mortgage companies are going to want to see prior tax returns to give you a mortgage. (I don’t need a mortgage, I’ll pay cash… then IRS will want to know where you got the cash).
Did you receive a 1099-K from your merchant account or credit card processing company? If you did you need to file taxes. IRS gets a copy of this form too and may contact you if you don’r report it.
If you have questions you may email us at info @ sexworkerstaxes.com