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re: How is a stripper supposed to pay taxes, she is 1099
Posted on 1/11/10 at 2:08 pm to reluctantBR
Posted on 1/11/10 at 2:08 pm to reluctantBR
1099 is considered self-employed.
Posted on 1/11/10 at 2:09 pm to AuburnCPA
quote:
Is her employer doing this to avoid paying their portion of payroll taxes. Sounds like payroll tax fraud to me.
yes.
she is considered self employed
Posted on 1/11/10 at 2:09 pm to AuburnCPA
She works for herself. Most strip clubs charge a "locker fee" and take a cut, but strippers are considered to be independent contractors. The employer is not "directing" their work.
Posted on 1/11/10 at 2:11 pm to 87BAMAGRAD
i think we both agree on this now. The strip club owner is a weasel and she does have to pay SE tax. Does she have any business expenses to deduct against the income. What kind of expenses does a stripper have? Boob job? makeup?
Posted on 1/11/10 at 2:11 pm to 87BAMAGRAD
is anybody local that i can send her to their office
Posted on 1/11/10 at 2:12 pm to AuburnCPA
outfits, shoes, make up, body glitter, perfume, cocain, haircuts.
Posted on 1/11/10 at 2:14 pm to 87BAMAGRAD
she really is a sweet girl, i was trying to get her some good advice, but my background is not taxes.
Posted on 1/11/10 at 2:14 pm to reluctantBR
we need to see pics of this stripper. Also, what da frick kind of job do you have? Advising a stripper on taxes. Are you a Pimp?
Posted on 1/11/10 at 2:15 pm to AuburnCPA
i am a banker, i have my series 7 and 66.
Posted on 1/11/10 at 2:16 pm to reluctantBR
The best advice I would give a client being paid in cash is to claim at least as much as can be verified that they spent. See safe harbor rule above for deposit requirements. She is 1099 and will need to file schedule c and se.
Posted on 1/11/10 at 2:17 pm to 87BAMAGRAD
I think for evidence, you need to post pics of client on here so we can give better advice.
Posted on 1/11/10 at 2:19 pm to AuburnCPA
how much will it be for her to talk to a cpa, once she knows how to estimate her taxes i think she can pay them quarterly on her own, and then have the cpa file her year end.
Posted on 1/11/10 at 2:22 pm to reluctantBR
Can't she just do a lapdance for the auditor and be done with it?
Posted on 1/11/10 at 2:23 pm to foshizzle
no, thats how she got me doing all this leg work to begin with
Posted on 1/11/10 at 2:24 pm to reluctantBR
All she really needs is for someone to file her tax return. She can then make deposits based on prior year liability and avoid any penalties.
Posted on 1/11/10 at 2:26 pm to 87BAMAGRAD
well i think this years liability is going to be a lot higher than last year, so i kind of want her to do it on her projected income, and does she have to worry about state taxes.
Posted on 1/11/10 at 2:31 pm to reluctantBR
I'm sure the state has some similar deposit rule...check out La dept rev website.
Posted on 1/11/10 at 2:39 pm to 87BAMAGRAD
thanks, i may just give my payroll company a call and see what they can do
Posted on 1/11/10 at 3:01 pm to reluctantBR
quote:What bank.....so I can short the stock.
i am a banker, i have my series 7 and 66.
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