Behind The Scenes

It’s Tax Time: Breaking Down Taxes for SWers in 2023

March 1, 2023

Taxes can be intimidating, especially if you’re filing them for the first time!

We know this feeling all too well… so we’re here to help simplify this process to help you maximize your profits and get that bag 🤑💰

Here’s the basic rundown, ready?

SWers who work online (e.g. OnlyFans, Patreon, etc.) are classified as 1099 independent contractors who run their own "small businesses". This means you have to pay BOTH income and self-employment taxes (but only if you make more than $400 in a year)!

The tax is only applied on your net business income. Subtract your business write-offs from your earnings and you have your net business income!

Alright, let’s talk write-offs. It’s important to know that nothing is withheld from a 1099 independent contractor’s income, i.e. you can deduct expenses that relate to your work as a tax write-off. But wait! That doesn’t mean you can write off just anything unfortunately.

Your expenses should fall under at least one of these three categories provided by the IRS:

  1. Ordinary expenses

    Costs that can be considered as a normal or expected cost in your line of work! For example, your phone, computer, and any platform fees would go under this category.

  2. Helpful and appropriate expenses, but not necessarily indispensable

    E.g. expenses like camera equipment and editing services! 📸

  3. Purchases that have a clear work related purpose and aren’t loosely connected to your business.

    This is where your niche comes into play and yes, there are write-offs for niches! For example, if you purchase costumes, toys, props and other supplies that you use to create your content, you can deduct it as a write-off 🙌

(You after reading this guide 😍)

Now that you’re ready to tackle those taxes and write offs, go secure that bag 💸💸

Want more info on how to keep yourself sexy and secure online?

Check out our reddit community r/SexWorkersPrivacy, A space to talk all things privacy + security for Sex Workers and other NSFW creators.

And keep following us here at PrivyCam.

Secure the bag. Secure yourself.

Protect your privacy. Control your content.

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