Tax Time

She probably has to file because of her other job as a nurse.

I would think that any time that someone puts their dances on a credit card, that money goes to the club. The club takes their cut, then gives it to the girl. So that income is going to have to be reported. Tip income, I think they have to report something, but it's not anywhere close to all of what they make.

IRS Form 1069

My ATF once told me that she had a financial planner who helped her with holdings and filing her taxes. She explained he set things up as her being a freelance entertainer and that along with developing documents for taxes, he created income documentation that could help her with applying for loans and a mortgage. I don't think this is SS as she really had her act together and is clearly the exception to the rule in managing her stripper finances.

My ATF once told me that she had a financial planner who helped her with holdings and filing her taxes. She explained he set things up as her being a freelance entertainer and that along with developing documents for taxes, he created income documentation that could help her with applying for loans and a mortgage. I don't think this is SS as she really had her act together and is clearly the exception to the rule in managing her stripper finances.

Most strippers don't receive 1099's or W-2's for their stripping jobs. It's a cash business that allows them to avoid paying income taxes. Is it legal not to pay taxes on their income? No, but these are strippers.

So why would a stripper file taxes at all? Earned income tax credit. This is a program designed to aid low income people with children. If you have earned income, you can get a tax refund that is much greater than what you paid in.

Strippers, of course, game the system. Let's say Tiffany has 2 children (by different fathers) and takes in $90,000 cash from "dancing." She could just not file taxes at all. But if she files taxes on say $15,000 of income on Schedule C (business income), Tiffany will receive a check for a few thousand from the government. There are tax preparers (I've been told) who specialize in helping strippers cheat the system.

If you want a car loan or mortgage or any credit, you need to show some income on your tax returns.

What Jackslash said. Plus, if they don’t file any taxes, or declare zero income, an audit could quickly identify a crime. If they declare enough income to justify their lifestyle, it’s much more difficult to be caught.

People who show no earned income are stupid. What do you think social security disability and social security are based on nitwits? The other reasons pale in comparison.

Jackslash's point is what I've seen. I was just talking to a stripper the other day who "got back" 1500 on her taxes. I took issue with her use of got back, since she didn't pay a fucking dime in. But, she makes about 125k/yr, or at least that's what she puts into her checking account as I've seen the statements. She doesn't know how much she really makes, as she spends a lot in cash and doesn't keep records. She declares 35k income, which is carefully chosen by her tax preparer as being enough to allow her to qualify for things like a car loan or lease a decent apartment. Its also low enough that she gets a tax credit for being under the poverty line & still gets benefits like state funded healthcare for her kids, discounts on after school child care, etc. The 1500 isn't really a big motivation, its the other benefits she cares about. She knows she'd be shelling out hundreds a month for health & child care if she didn't file taxes. She claims to be self employed selling handmade custom dresses and artwork as she gets zero documentation from the club.

^nice life

There is about two more weeks before you start to see the higher end customers trend down with their club appearances.

If I was a dancer I'd be taking Red Bulls to keep going as much as I could because those who do pay taxes have a looming deadline on the near horizon.

It’s a very dangerous game they play under reporting income and getting refundable credits. Those make returns a higher audit risk. If they find they’re under audit and they’ve deposited money they can’t explain there could be trouble.

I’m a CPA and I have helped a couple of dancers but I thought they were being above board. I’ve heard stories though about girls who severely under reported income. They may get away with it but it’s a dangerous game. It’s not just dancers but a lot of people who think they’re gaming the system eventually get bitten.

I knew a married dancer years ago that never filed taxes. She and her husband wanted to buy a home and could not qualify for the loan on his NCO retirement benefit from the army. She was pissed because she had to file and claim 90K/yr of income. She had no kids and got no sympathy from me.

I knew one who never filed, she got into serious trouble with the IRS, they were going to take her house away. They made her send them signed papers once each quarter from then on.

This stress really broke her, lost the house, the husband, custody of their child, and drove off even her best friends with her methamphetamine antics.

SJG

President Trump Threatens Political Opponents with Violence

President Trump appeared to threaten his political opponents with violence in an interview published Thursday by the far-right website Breitbart. Trump accused his opponents on the left of “playing tough” but said his supporters are tougher, telling Breitbart, “I have the support of the police, the support of the military, the support of the Bikers for Trump—I have the tough people, but they don’t play it tough—until they go to a certain point and then it would be very bad, very bad.”

Jeff Healey Band
https://www.youtube.com/watch?v=U5Qb-6Qk…

https://www.irs.gov/forms-pubs/about-for…

https://www.irs.gov/forms-pubs/about-for…

standard deduction:
Single or married
filing separately,
$12,000

Double that for Married

https://www.irs.gov/pub/irs-pdf/i1040tt.…

https://www.irs.gov/pub/irs-pdf/i1040gi.…

I guess they folded dependent exemptions into the EIC?

that could work.

Yes, it does look like they have at least partially merged dependent exemptions with the EIC. Though still very complex, and lots of special cases they are not even mentioning, it is arguably more simple, modernized.

EIC was kind of an ad on. Now it is more integral.

EIC could be the bridge to get us to Universal Basic Income.

SJG

It's safe to assume most self-employed people under-report particularly if they deal in cash.

So long as they are strippers, I don't mind that.

But they should set up a special form for that.

SJG

We're Still Right
https://www.amazon.com/gp/product/B016JP…

Kenny Wayne Shepherd - While We Cry - live Summerfest 2015
https://www.youtube.com/watch?v=R4T14P37…

Tax season is likely going to suck here for strippers thanks to the Republican tax restructuring hurting the upper middle class here. But the working class Joe's may have money to burn from their usual refunds.

^^^^ Those reverse ATM machines which some clubs have, that forces it onto the books. And CA's new mandatory employee status makes it harder to hide now. Not sure if anyone follows that though except DV.

SJG