Income Tax Implications...

Yes Tran.. I know. I've only been paying self employment tax for about a decade now.....

You are being pedantic and arguing for the sake of arguing. Then again, so is Lucas.. but it's really of no consequence either way. Its gotta be a slow day on Eccie when two people are arguing over taxes on a zombie thread that was inexplicably brought back to life.

Can we talk about boobies instead? I think this horse is dead. If it's not its still boring and boobies are more fun.

Yes Tran.. I know. I've only been paying self employment tax for about a decade now..... Originally Posted by Grace Preston

well, you don't know.. really, you did not know what I posted.. just because you have paid SE tax for a decade doesn't mean you know. Lucas did not know either, he ran with the idea that April 15 is when taxes are due, and that was it.

nothing wrong with not knowing.. but you both presented yourselves as experts ("I'm a CPA", LOL..), and you both presented rather basic and elementary knowledge to the Board.. I corrected both of your elementary and wrong statements to show you didn't know what you are talking about.

Would you care to show where I presented myself as an expert? I don't recall quoting you, either... nor do I recall ever saying you were wrong in what you were stating. Tax is due when earnings are made, however, the IRS does not require self employed persons to pay as they earn.. as having to pay on a daily basis would be burdensome, and most self employed people do tend to have some earnings almost every day, whether it be the coffee shop owner or the escort.

I'm not a CPA. I'm not an accountant. Hell, I didn't even stay at a Holiday Inn Express last night. But I have paid SE taxes on and off for the past 20 years now.. and I've been through a total of 3 audits. I've had to deal with the IRS more than I really cared to-- and it is why I actually pay my taxes on my earnings here... the IRS has more power to fuck with your life than any other government entity in my book.

CT, nobody cares. More importantly, please don't tell the people at the firm I work for that I am really not a CPA and that my graduate degree in Accounting is fake. They'd fire me...what a troll.

Too bad your not my accountant, eh? I wouldn’t have to file these 1040-ES every quarter. Originally Posted by TexTushHog

How did I miss this? You claim to be an attorney. I'm glad you're not my attorney. Call me crazy but I would want someone intelligent enough to know the difference in what I highlighted in red.

You are being pedantic and arguing for the sake of arguing. Originally Posted by Grace Preston

There's a fine line between pointing out what is technically correct (and having people argue against it and then defending what is correct), and being a pedant. I think CT is firmly on the side of pointing out the technicality.

If you are serious (and I realize that you are currently banned) then it's really quite simple. Your job is massage and you have income and expenses associated with that on schedule C. The IRS does not care that you are an escort. They only care that they get their share.

Don't believe me? Ask Al Capone.

eccienewbie is the winner of this thread.

It's essential to pay your taxes if you're self employed and want to do something big, like get a home. At some point in your life, you have to prove income and showing your tax statements is the only way. Banks won't take deposit statement.

Nonetheless, If providing is a ladies only source of income, I don't see why she wouldn't file anyway. Transportation. Gas. Hotels. Flights. Advertising. Lingerie. Cosmetic Surgery . . . It's all tax deductible.

You’re A Sex Worker — How Do You Pay Your Taxes?

http://www.vocativ.com/281485/sex-wo...ces/index.html

If your work is illegal, do you still pay your taxes? How do you deposit large amounts of cash without alerting the IRS? Alongside standard financial talk of high-yield investments and Excel spreadsheets, the Tumblr Sex Worker Helpfuls addresses a more specific set of questions like these. It’s one of several sex worker-run websites and message boards that offer financial advice to strippers, cam girls, sugar babies, dominatrices and escorts about everything from STIs to personal safety—and money is a popular subject.

“In the old days, it was the kind of things you might talk about to other girls if you worked in a brothel together or at an escort service,” says Maggie McNeill, a sex worker who has been in the business for 18 years and runs the blog The Honest Courtesan. “Nowadays, you strike up friendships on [message] boards and talk to each other.”

It’s no wonder that finances attract special concern. “The illegitimate and stigmatized nature of this work makes handling money feel really dicey and kind of stressful,” said Savannah Sly, president of the social justice organization the Sex Workers Outreach Project. It’s also why sex workers are sometimes excluded from the mainstream financial industry. Things that so many people take for granted, from having a bank account to taking out a car loan, can be difficult and unnerving, if not outright impossible, propositions—and they often require guidance.

https://ttlc.intuit.com/questions/24...to-be-reported

The IRS requires income from illegal activities be included in your income as other income (Line 21 on Form 1040) or self-employment income (Schedule C). Expenses incurred while engaging in illegal money-making activities usually can’t be deducted.

Although the IRS is primarily concerned with collecting income tax, law-enforcement agencies do request a taxpayer's information from them.

^^^^^^ pay attention to this line.
The network between IRS, BANKS, and LE are tightening in USA and overseas.
Do you have a RAP sheet?
Do you have a Lien?

https://the-tax-wars.net/2015/09/30/...at-great-risk/


CG