That's right ladies, it's that time of year again when Uncle Sam says: "You can run but your ass can't hide".
If you are making any substantial amount of money in this industry, then I really suggest that you start paying taxes. Now keep in mind that I am only referring to the women that actually make a decent living doing this, and not those who just get by on $1.00
If your charging $200/hour and you don't have a car, bank account, or a stable place to live, then you really need another profession. Seriously
Here are a few tips on paying taxes, and all the wonderful write-offs and benefits. If you have any questions please don't hesiate to ask
Accounting: You will need a reputable tax accountant who doesn't care what you do for a living. By hiring a professional Tax accountant, you are a lot less likely to be audited than if you do your own taxes. If in doubt, always seek professional help. Most accountants could care less if you screw for a living; all they are care about are the residuals.
Money Trails: You will need to deposit enough money into your saving/checking to make it look like you make decent money. If you only claim $20,000 per year, it's going bite you in the butt if you decide to buy a house, a certain car, etc.
Looking Legit & Getting Insured: I maintain health, auto, life and renters insurance. These are all write-offs and good documentation to your business. I also have a retirement that I dump as much as possible into.
Business Write-Offs: Things in escorting that are tax write-offs (Always remember to keep your receipts):
-All web design work
-All computer equipment and office supplies
-Advertising costs
-Cell phone bill
-Internet costs
-Lingerie
-Massage supplies; Oils, tables, towels, detergents, etc... (Be sure to confirm about supplies with your accountant)
More Write-Offs: Rent - I write off 39% of my in call space because I can say it is space dedicated to work only.
More Write-Offs: Car - Always log mileage for when you drive to an outcalls or drive on tour. ALWAYS save receipts for gas & food. It's all business related.
More Write-Offs: Travel - Also, all hotel costs are written off if you have to tour another city for work. Incl. Airfare.
What I don't write-off: Condoms, lubes, and "toys" don't get written off.
Good Write-off: All presents bought for clients, they are business gifts and marketing promotions.
The Use of Cash: I save my tips, and at the end of each work week tips can be used as "fun money".
Bottom line: Paying taxes is actually a brilliant idea for the working girl, especially if you spend a hefty amount of money to maintain your business. It also gives you that feel of legitimacy and responsibility, which helps you grow in the end.
Always remember that you are NOT what the media portrays. You are not this dirty little underground secret that needs to be hid from the world. You are much more than hookers, whores, and prostitutes. You provide a service that is wanted by some, and NEEDED by most!
Always remember that! |