When becoming an OnlyFans creator, there are a lot of things that you will learn along the way that you may not have considered in the very beginning. One of those? OnlyFans tax filing and exactly how it works. The best thing you can do when it comes to tax for any occupation, is speak to a professional that get into the nitty-gritty for you and helps you to understand the most important aspects.
In this blog, we’ll be going over some need-to-know basics about tax through OnlyFans. By the end of this, we’re confident you’ll have enough knowledge and understanding to get yourself set up on the platform.
Do You Have to Pay Taxes for OnlyFans?
Yes, you will have to pay taxes for OnlyFans once you start making a certain amount of money from the platform. Something that’s imperative to know as an OnlyFans model, is that filing tax is not automatic – it’s something you’re going to have to do on your own, or hire an accountant to do on your behalf.
Another thing to keep in mind is that the OnlyFans platform has creators that live all over the world - meaning the tax laws are going to be different depending on the country each creator lives in. More often than not, OnlyFans models need to file their taxes under being ‘self-employed’, however, this isn’t going to be the same everywhere. It’s best to know upfront what you’ll need to file your OnlyFans tax under, to ensure you’re doing it correctly.
What Can You Write Off on Taxes for OnlyFans?
When it comes to claiming tax on items that you’re using to run your OnlyFans, or create content for it, it’s all about differentiating business versus personal use.
- lighting accessories
- resources (like our products)
- sex toys
- gym fee
- beauty treatments
- an Airbnb used for filming
- Rent - if you film where you rent
- Internet, phone, and so on
How does content creator tax write off work? If 25% of the time you’re using the internet to operate and product content for your OnlyFans account, then you may have the ability to write off 25% of your internet bill as a business expense. This is the same for your phone as well, especially if you’re using the phone to create content, film, edit assets, communicate with business partners etc.
Does OnlyFans Send Anything Physical in the Mail?
Something else that is going to be subjective depending on where you live, is whether OnlyFans will send you any physical mail regarding your tax. For example, if you reside within the United States of America and your income comes from OnlyFans, you will receive a tax form in your letter box – but only if you’re earning over $600 annually from your profile.
Like everything else, there is more to this than what we’ve written, so it’s important that you consult a professional to know exactly how this works depending on where you live. Every country is subjected to differing tax laws, and what we’ve written is more so an overarching and common occurrence.
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