Do I pay taxes if I sell nudes online if so how? ?
Sorry if this is a dumb question. The platform I’m using is only fans and my payment method is cash app.
- Max HooplaLv 78 months ago
You would owe tax on any profit for whatever you sell.
- StephenWeinsteinLv 78 months ago
Yes. You keep track of how much money you get paid and report it to the IRS on Schedule C or C-EZ, and send them the tax money.
- Wayne ZLv 78 months ago
You are considered "Self-Employed".
You have to pay the IRS and your state (if applicable) yourself. The taxes are not taken out of your payments.
- CarVolunteerLv 68 months ago
No they don't pull it out of your income. You keep track of income and expenses and pay taxes on your profit. Presumably they will send you a 1099 if you make enough money, but you are responsible with or without the 1099. For example, if you were doing this all of 2019, you should pay estimated taxes 4/15, 6/16, 9/15 in 2019,and 1/152020, then file a tax return by 4/15/2020. The estimated taxes are the equivalent of the withholding for federal income tax and Social Security/Medicare (FICA) if you were an employee. The form for estimated taxes is 1040-SE. If you make less than $400 for the year, no FICA. If you have another job and have enough withheld there to cover the additional taxes, no estimated tax is necessary.
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- SlickterpLv 78 months ago
Yes, you pay taxes on income. That is self employed income.