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The hockey stick is steep However, you mentioned you have a craft business as well. My best month got me to 1.4% ranking but that was a modest $8,582 of revenue
I don’t run one, but i’ve spoken to several people on here that stated depending on what you offer and how popular you are, it’s 10’s of thousands to 100’s of thousands You will need to gross up your only fans income for the charge they take off you (20% i believe) Onlyfans and fansly is my only source of income
How do you show proof of income, such as pay stubs
When going to finance a car for example I tried bank statements which show how much income came into my account each month but they won't accept that. Opus 17 level 15 @rr08 wrote I only made a total of maybe 150 on onlyfans for the year do i still file for taxes
If that is your only income, no, it is below the filing threshold If you file a return for other reasons, you must include all your income february 12, 2021 10:32 am Unless there are only two partners who are spouses, the partnership has to file a separate form 1065 partnership tax return that lists all the income and expenses of the partnership
I know i will have to fill out a 1099 form as well but will that appear on the screen when filling out the form online
I also heard i can make payments quarterly Are most women on onlyfans making decent money (enough to use it as primary source of income) or is it just the few “elites” If you aren’t making that money do you think of was worth doing or wish you hadn’t? If you file a tax return, you are required to report all income whether you receive a form or not
You would report the gross earnings on your schedule c You would then report your expenses The cut that of takes is an expense to you You may have other expenses, as well.
If you set up only fans to flow through the scorp, the cpa that's filing your 1040 will only need the k1 and w2 for your scorp (which will not show where the income came from).
You only need to register for vat if your taxable turnover exceeds £85,000 in a 12 month period For the numbers your suggesting you don't appear to be anywhere near this limit
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