I went through the typical BS with filing taxes but had to go to a new place since I moved a while back. I have never attempted to claim business expenses but I kept record of everything this year. I wanted to claim make up, waxes, tanning, hair and nails and 2 rounds of botox injections. The guy was an ass anyway. First thing he asked was what is your business so I replied I am a stripper. From that point foreward he started treating me like an ass. But anyways are those things deductible? Maybe ill get lucky and find a numbers person here that knows. I mean if a writer can claim a pen and paper then why cant I claim something that makes me be able to be more profitable at my job.
Yes. Not only can you buy things like thongs and deduct them, you can sell them used to regulars for a 3X markup ($profit!) and still keep the deduction.
They are deductible if you are an independent contractor, and the expenses are reasonably necessary to do your job, and you wouldn't have incurred them but for your job.
Nevertheless the IRS is very strict about these kind of deductions because of the potential for abuse. When I help strippers do their taxes, I usually advise them to be aggressive on the income side and don't report much of their income, but to be very conservative on the expense side and not try to deduct ordinary beauty expenses.
Yeah, the standard deduction is there, and so most people don't use the itemized schedule, schedule A.
I think the way around this is to set yourself up as a licensed contractor or as a corporation, and then all your expenses come straight off the top, instead of needing to go on schedule A.
There are people who will know how to do this.
The ideal of course is you don't own anything or get paid much of anything. It all goes to your corporation.
You also need to watch out for schedule SE. Again, your own corporation is the most complete way, as the money never was yours in the first place.
Running your own corporation is better than being a licensed contractor.
But like most people, this goes way beyond my own level of knowledge.
As I know, most strippers keep their money off the books anyway.
So the only risk is if the authorities find it:
1. Payments for cars, securities, or a house ( some have gotten in huge trouble this way )
2. Rent payments
3. Bank deposits and checks
But if one is going to be on the books, then they have to be a corporation. I mean basically, what does one do with money? They spend it.
So you want the corporation to spend it, for you, instead of ever having it become your money. This way it does not get taxed.
Now of course there are limits to this. And so the details of how to set this up are complex.
You only need to receive a salary or wages when you are remote from the entity paying them. So say I worked for General Motors. I could not expect them to run my life or I run their company. So the solution is a salary. But as such, that starts off my tax return and it is hard to deduct much
So the better way is that all income goes to my own corporation, which then pays all sorts of expenses.
Wrong advice!
Schedule A is for itemized deduction instead of standard deduction. If you have income tax, mortgage interest, real estate tax, charity contribution, and a really high medical expense, then you are better off doing itemized deduction instead of standard.
But for the profit and expense for your stripper job, you are using using Schedule C [Profit or Loss From Business. (Sole Proprietorship)] no matter what.
Non profits and churches are more difficult to set up. A non-profit has to have a governing board, as it does not have share holders.
The advantage of a church is no real property tax. And if you are renting real property, the land lord can take that property tax deduction and you can negotiate that into your rent.
But a salary paid by a church is taxable. Best if you don't every get paid much of a salary, less than the minimum for actually paying any tax. And then from this you pay your housing costs.
Like you can rent a room from someone. But in fact that person is a business associate and this is their salary. Where you actually live is elsewhere and paid for by your corporation.
But if you can make it work out right, a church is the very very best set up. It is just more complex.
Really you need a church and a consulting services corporation, plus also keeping as much money under the table as possible. All three methods.
It is just that this is all very complex, lots of rules, lots of limits, and also some collateral costs. But it can be done.
Better if some of it is a broader organization of people.
See, like you could set it up so your corporation pays you like say $300 per month. So you should not have to pay any tax. You want to get away from payrole and Social security taxes and schedule SE too.
So with your $300 per month you rent a room from someone and claim this as your residence. But actually that person is your employee to help you with important stuff. So they get say $250 per month. But as it is a rent sublet for them, they don't have to pay tax on this either and they don't need a business license or anything.
So then where you really live is paid with under the table money and in cash, and always demand a receipt.
Or your corporation rents hotel rooms for you, something like that.
If you want to buy a property, you don't buy it. Your corporation buys it.
Again, complex and you need to know what you are doing.
But the basic idea is, you spend money and that had to have been income and so it is taxable.
But if your corporation spends money it is the cost of being in business. Of course your corporation turns very little profit. It is always getting spent and plowed back into other stuff.
People who are starting with the money in cash have a huge advantage in this realm, like retail and vice.
Aaron_hip is right. You are an independent contractor and you are running your own business. You report your income and expenses on Schedule C, and you only pay tax on your profit. This is a great advantage to you, since you can deduct all legitimate business expenses.
If the tax preparer was rude to you, I would advise getting a different one.
Things that are tax deductible would primarily have to be items that are exclusive to stripping and not "ordinary" expenses (ie, makeup or tanning probably wouldn't make the cut. Your dance outfits and shoes probably would). You can try the botox expense. Also, if you ever travel to dance, save those receipts because they can also be used. Bear in mind that you will need several thousand dollars of expenses, as already noted.
Concerning the income... If you get audited due to expenses not being reasonable based your reported income, I would imagine it would be easy to claim that you receive gifts.
You guys are fucking idiots. They are not deductible unless it's specific to the business and not used outside the business for example my $5,000 silk suit I use can only be used for business and must have an attachment to the business. I'll dumb it down a polo worn at Pizza Hut is a write off for Pizza Hut only if the company logo is visible. Fuck all of you.
^^^^ LMFAO!!! Strippers are always looking for an angle, and stupid pathetic dudes are always willing to assist and pander to their means of cutting corners. Which is why they became strippers in the first place. Will the stupid fucks even realize how stupid they are?
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That accountant sounds like as douche.
Nevertheless the IRS is very strict about these kind of deductions because of the potential for abuse. When I help strippers do their taxes, I usually advise them to be aggressive on the income side and don't report much of their income, but to be very conservative on the expense side and not try to deduct ordinary beauty expenses.
I think the way around this is to set yourself up as a licensed contractor or as a corporation, and then all your expenses come straight off the top, instead of needing to go on schedule A.
There are people who will know how to do this.
The ideal of course is you don't own anything or get paid much of anything. It all goes to your corporation.
You also need to watch out for schedule SE. Again, your own corporation is the most complete way, as the money never was yours in the first place.
Running your own corporation is better than being a licensed contractor.
But like most people, this goes way beyond my own level of knowledge.
SJG
So the only risk is if the authorities find it:
1. Payments for cars, securities, or a house ( some have gotten in huge trouble this way )
2. Rent payments
3. Bank deposits and checks
But if one is going to be on the books, then they have to be a corporation. I mean basically, what does one do with money? They spend it.
So you want the corporation to spend it, for you, instead of ever having it become your money. This way it does not get taxed.
Now of course there are limits to this. And so the details of how to set this up are complex.
You only need to receive a salary or wages when you are remote from the entity paying them. So say I worked for General Motors. I could not expect them to run my life or I run their company. So the solution is a salary. But as such, that starts off my tax return and it is hard to deduct much
So the better way is that all income goes to my own corporation, which then pays all sorts of expenses.
I get little or nothing myself. :)
SJG
Manly Palmer Hall
https://www.youtube.com/watch?v=F2fwpw_6…
Schedule A is for itemized deduction instead of standard deduction. If you have income tax, mortgage interest, real estate tax, charity contribution, and a really high medical expense, then you are better off doing itemized deduction instead of standard.
But for the profit and expense for your stripper job, you are using using Schedule C [Profit or Loss From Business. (Sole Proprietorship)] no matter what.
Source: I'm a certified tax preparer.
The advantage of a church is no real property tax. And if you are renting real property, the land lord can take that property tax deduction and you can negotiate that into your rent.
But a salary paid by a church is taxable. Best if you don't every get paid much of a salary, less than the minimum for actually paying any tax. And then from this you pay your housing costs.
Like you can rent a room from someone. But in fact that person is a business associate and this is their salary. Where you actually live is elsewhere and paid for by your corporation.
But if you can make it work out right, a church is the very very best set up. It is just more complex.
Really you need a church and a consulting services corporation, plus also keeping as much money under the table as possible. All three methods.
It is just that this is all very complex, lots of rules, lots of limits, and also some collateral costs. But it can be done.
Better if some of it is a broader organization of people.
SJG
So with your $300 per month you rent a room from someone and claim this as your residence. But actually that person is your employee to help you with important stuff. So they get say $250 per month. But as it is a rent sublet for them, they don't have to pay tax on this either and they don't need a business license or anything.
So then where you really live is paid with under the table money and in cash, and always demand a receipt.
Or your corporation rents hotel rooms for you, something like that.
If you want to buy a property, you don't buy it. Your corporation buys it.
Again, complex and you need to know what you are doing.
But the basic idea is, you spend money and that had to have been income and so it is taxable.
But if your corporation spends money it is the cost of being in business. Of course your corporation turns very little profit. It is always getting spent and plowed back into other stuff.
People who are starting with the money in cash have a huge advantage in this realm, like retail and vice.
SJG
But just watch out for schedule SE. And some places want you to have a contractor's license.
I know, this is all a big mess!
SJG
Different types of tax guys for different situations and needs.
SJG
Things that are tax deductible would primarily have to be items that are exclusive to stripping and not "ordinary" expenses (ie, makeup or tanning probably wouldn't make the cut. Your dance outfits and shoes probably would). You can try the botox expense. Also, if you ever travel to dance, save those receipts because they can also be used. Bear in mind that you will need several thousand dollars of expenses, as already noted.
SJG
Most tax people work with those who are strictly legit. You need one who can help you maintain a beyond the pale status without getting into trouble.
Very different from what most would want.
SJG
Manly P. Hall - The Spinal Column & Kundalini
https://www.youtube.com/watch?v=g5HhMuU9…
Is this tax guy a problem? That can be handled, you know!
Brilliant idea!
But their are legal limits on this, and it gets complex.
SJG
But if you are going for a church I like
The Church of the Holey Poley
I prefer the Church of Frisbee. When you die, your soul is stuck on the roof.