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💥TIP OF THE DAY💥
You will have to pay taxes on your earnings come tax season.
Example: If you made $20k last year you will owe $2.5k federally this year.
Anything over $599 will be reported to the IRS by OnlyFans.
💫REMEMBER TO WRITE OFF EVERYTHING!💫
@bcs_morales
@jamie_knoxxx
Depending on your assets, salary, and dependants among other things you may not be able to write off everything. For higher earning individuals who track their business use and expenses you want to take advantage.