As an adult content creator on Peekaboo, you have the freedom of owning your own career, planning your own content and making your own money. And whether you realize it or not, you’re an entrepreneur and sole proprietor of your business. This is great for legitimizing your business, but at the same time, comes with the realities that business owners face…which are taxes. Here are five tips for adult content creators to know about paying their taxes.
Disclaimer: This post is for informational purposes only. For tax advice, please consult a tax professional or accountant.
1. You will have to pay taxes on your income.
Just know this from the start: You WILL have to pay taxes as an adult content creator getting paid through websites like Peekaboo if you make more than $600, and we do NOT automatically withhold these taxes from your payment.
2. Get organized and keep track of everything.
Because you’re a sole proprietor, you need to keep all of your business receipts. Not only will this make it easier to do your taxes, but it’s also necessary to get the tax write-offs you deserve. Adult content creators can write off any expenses that are “ordinary and necessary” for your business. That’s why it’s crucial to keep yourself organized in a spreadsheet or using special software, and keep track of all of your expenses in the course of your business.
3. Take advantage of tax write-offs for adult content creators.
Did you know if you buy props, toys or special lighting to create your content, you can write that off on your taxes and lower your tax bill? If you use your internet to access Peekaboo and post your content, you can possibly write off a portion of your internet bill. You could even write off the credit card and payout fees you owe for posting your content…oh wait, Peekaboo doesn’t charge credit card or payout fees, so you don’t have to worry about that 😜
Other possible write-offs include beauty treatments or procedures, lingerie or costumes, a home office deduction and even business trips and meals. Which brings us to our next point…
4. Find an accountant you trust.
To level up your adult content business, consider finding a great accountant who can help you get all the tax write-offs you are entitled to. If you know any business owners, ask them who they use for their accountant, or ask other adult content creators who they recommend. Look for someone who not only has experience with sole proprietors, but also someone who won’t judge your profession.
5. Save money to cover your tax bill.
Remember how we said Peekaboo doesn’t deduct taxes for you? Self-employed adult content creators are responsible for paying their own taxes, so most experts recommend that you save about 25% of your income from adult content websites to pay your tax bill at the end of the year. In some cases, you may even need to be paying quarterly taxes (but your accountant or tax pro can tell you if this is your situation). The bottom line is that you should save some money to cover your taxes.
Ready to try Peekaboo? You could win weekly raffles of between $250 to $1,000 for uploading pics and videos! For creators, the first month is free, with a 90% take-home after that. We offer better business practices, a more stable and equitable platform for your work, and a better experience for your fans. Click here to start uploading now!