I just started exotic dancing and I was wondering if you can file for taxes? And if so HOW?
2007-06-21 07:53:33 · 3 answers · asked by A N 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
As with any profession, if you are making money at it you are required to file an income tax return and declare the money you make as a dancer as income. If you are working for tips only, you will need to make quarterly estimated tax payments by using form 1040-ES from the IRS. This is in lieu of tax withholding which the employer normally does for you. The deductions available to you are pretty much the same as for anyone else and the same rules apply. I would advise you to see a tax professional.
2007-06-21 08:04:51 · answer #1 · answered by hackey24599 2 · 1⤊ 0⤋
You absolutely have to uncle SAM. So basically have have to keep track of how much money you make, but also keep track of how much you spend for the sake of business IE. boa, high heels, hair done, car, and gym membership and so on. Get receipts for all that and keep them, so at the end of the year it will be easy to figure out what you owe if anything.
You should take a tax class Jackson Hewitt and other companies like this offer them for free and you can do your own taxes without having to pay some expensive tax guy. Then you can charge all the other extoxic dancers to their taxes too.
2007-06-21 09:50:16 · answer #2 · answered by Sassy 3 · 1⤊ 1⤋
It's income. You file the same way you always have.
2007-06-21 08:05:34 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋