Any CPAs in here want to talk about porn taxes?

First question. Where are you located? I can only help with Canada, although not a CPA.

Second question. Is your OF/Porn business an actual business? Do you have expectation of profit? Or are you just going to film yourself having sex with protitutes and claim its a business cause you posted it on PornHub?

Third question. What user name will you be posting these video's on and which platform?? :)

Not a CPA, but (in US) generally yes I think. Particularly if you make a profit doing so. Although, it's kinda like having a home office that you also watch Netflix in. You'll probably need a tax lawyer, not just a CPA.

Let’s say it’s the US. Let’s also say you don’t make a profit. You have a loss at the end of the year after paying for a few girls and publishing it.

You’re going to need to demonstrate you were running it like a business and trying to make money otherwise the hobby loss rules kick in. If you make money it’s not anything to worry about. You can probably take your expenses against your revenue.

www.irs.gov

The IRS presumes that an activity is carried on for profit if it makes a profit during at least three of the last five tax years. If you don't show a profit, the IRS will conclude your activity is a hobby and will disallow the tax deductions you claimed. Also, you need to have a plan in place which you can implement to help turn a profit.

A good example are the Vlogs posted to YouTube. The revenue you get from YouTube eventually has to be greater than the cost of trip posted to allow a deduction for the cost of the trip. If it isn't, then it's a hobby and YouTube revenues are just offsetting a portion of the cost of the trip which is not deductible.

Yes, the key is being able to demonstrate that it is a for profit (legal) business. Back in the day, before the tax reforms of the late ‘80’s, I knew some enterprising guys in Miami who bought a boat, started a fishing charter business, and rented the boat back to themselves every weekend. Needless to say, this business lost money every year, and it wasn’t long before the IRS caught up to their scheme.

About 30 years ago, I knew a guy who bred cats. He sold kittens, but he didn't actually make a profit, it was his hobby. But he'd underreport his costs on his taxes, to make it look like he made a profit 3 out of every 5 years.