DISCLAIMER
The following article is for informational purposes only. It is not intended to provide tax, legal, or accounting advice. Before making any transactions, you should consult your own tax, legal, and accounting advisors.
If you are just starting out and know nothing about taxes…
The most important things to understand:
- You will have to pay taxes as an OnlyFans model.
- You will have to do this yourself (or hire an accountant).
- This is NOT automatic.
- Again: OnlyFans does NOT withhold taxes from your pay.
- Save 20–30% of your earnings to cover your tax bills.
- Keep ALL receipts, both offline and online.
Yes, to start, set aside at least 20–30% of your earnings because you will need to pay tax on that income.
Note: OnlyFans income is considered self-employment income for tax purposes.
My links: https://linktr.ee/rundalya
TAX-DEDUCTIBLE EXPENSES
Depending on your local regulations, a wide range of items can be written off as tax-deductible expenses.
This means you can claim back tax which can amount to up to 50% of the cost of an item… if you record it as a business expense.
So, keep ALL your receipts!
What items can you (potentially and partially) write off as tax-deductible expenses?
- Props
- Lighting accessories
- Sex toys
- Gym fees
- Cosmetic treatments
- Lingerie
- Airbnb used for filming
- Part of your RENT if you film where you live
- And more…
HOW IT WORKS:
If you spend 25% of your internet time on OnlyFans, then you can write off 25% of your internet bill as a business expense.
This applies to business and personal use.
You can do the same with your phone bill, RENT, etc.
Again, any equipment you buy for OnlyFans… the same principle applies to the business and personal portions of items like cameras, props, and so on.
The main “guideline” is that expenses should be “ordinary and necessary” for your business.
But “ordinary and necessary” can mean a lot to a good accountant.
Track all your potential expenses in a Google Sheet and find a good accountant to help you with this.
HOW A GOOD ACCOUNTANT CAN SAVE YOU MONEY
If you make a decent amount of money, know the basics, and have a few subscribers, then finding a great accountant can save you A LOT of money… primarily through the business expenses outlined above.
Don’t worry about being an OnlyFans model.
A good professional accountant won’t be concerned about this.
And you don’t even need to disclose this information; you can simply say you are a niche content creator.
FINDING A GREAT ACCOUNTANT
Any real-life connections (friends and family) you have should be your first choice.
Ask them for accountant recommendations.
If not: the best bet is referrals from other people working in the adult business.
You need an accountant who will not be judgmental and is familiar with self-employed people — experience in the adult business will be a plus.
Reach out to other models on Twitter, IG, OF, etc., and ask for recommendations.
HOW TO FIND GOOD ACCOUNTANTS:
Ask about:
- Fee structure for just return preparation (i.e., you do the bookkeeping yourself)
- Cost of bookkeeping and preparation
- Can you provide client references?
If you can’t get good referrals from other OnlyFans models, then (if you are in the US), you can search your state’s CPA directory or the Board of Accountancy.
Find three or four people in your area and start interviewing them.
My links: https://linktr.ee/rundalya
DO YOU NEED TO HIRE AN ACCOUNTANT?
No, you don’t.
But depending on where you live, filing your taxes can become a huge headache.
So, a good accountant can:
- Save you time and hassle
- Save you money
My links: https://linktr.ee/rundalya
Sales Taxes
I wanted to share some important information regarding sales taxes on OnlyFans. Many countries have passed laws that require “online marketplaces” to apply Sales Tax to transactions. As a result, you may see an additional tax added to your payment. If you are located in a region that requires us to charge Sales Tax, GST, VAT, or the local equivalent, the tax will be charged and remitted to your local taxing agency.
Whether or not sales tax is applied to your payment depends on where you are located and the type of payment being made. Below is the current list of countries where OnlyFans is required to collect Sales Tax, GST, VAT, or the local equivalent, along with the tax rate applied:
Country: Tax: Rate
- Albania: VAT: 20%
- Australia: GST: See AU GST
- Bahrain: VAT: 10%
- Belarus: VAT: 20%
- Cambodia: VAT: 10%
- Canada (by province):
- Alberta: GST: 5%
- British Columbia: GST + PST: 12%
- Manitoba: GST + PST: 12%
- New Brunswick: HST: 15%
- Newfoundland and Labrador: HST: 15%
- Northwest Territories: GST: 5%
- Nova Scotia: HST: 15%
- Nunavut: GST: 5%
- Ontario: HST: 13%
- Prince Edward Island: HST: 15%
- Quebec: GST + QST: 14.975%
- Saskatchewan: GST + PST: 11%
- Yukon: GST: 5%
- Chile: VAT: 19%
- Colombia: VAT: 19%
- Costa Rica: VAT: 13%
- Ecuador: VAT: 12%
- Georgia: VAT: 18%
- Iceland: VAT: 24%
- India: VAT: 18%
- Japan: Consumption tax: 10%
- Kazakhstan: VAT: 12%
- Kenya: VAT: 16%
- Malaysia: SST: 6%
- Mexico: VAT: 16%
- Moldova: VAT: 20%
- Morocco: VAT: 20%
- Nigeria: VAT: 7.5%
- Norway: VAT: 25%
- New Zealand: GST: 15%
- Oman: VAT: 5%
- Puerto Rico: SUT: 11.5%
- Russia: VAT: 20%
- South Africa: VAT: 15%
- Saudi Arabia: VAT: 15%
- Serbia: VAT: 20%
- Singapore: GST: 8%
- South Korea: VAT: 10%
- Switzerland: VAT: 7.7%
- Taiwan: VAT: 5%
- Tanzania: VAT: 18%
- Thailand: VAT: 7%
- Turkey: VAT: 18%
- UAE: VAT: 5%
- UK / EU countries: VAT: See Value Added Tax
- Ukraine: VAT: 20%
- Uruguay: VAT: 22%
- USA: Sales Tax: See USA Sales Tax
- Vietnam: VAT: 10%
My links: https://linktr.ee/rundalya
Will Tips Be Affected?
In many states, tips paid to the creator are not considered taxable. Other types of payments (subscriptions/messages/streaming) are associated with digital content and fall under the definition of taxable goods.
Contacts:
Channel for Onlyfans models: https://t.me/alonedrops
My blog about Onlyfans: https://rundalya.fun/blog/
Best traffic for the Onlyfans: https://t.me/alikopen
