If I sell pictures of my feet at what point do I need to start paying taxes?
Do I have to make a certain amount or do I need to start paying them right away?
Before anyone asks, yes I am over 18. I have fallen on hard times and I heard a lot of people making over $90,000 a year off of it.
$400 a week or month?
Yes they do. One lady in Canada does tbh. She’s pretty famous for it.
- JudyLv 71 month ago
If it's your only income, when you take in $400 for the year.
- Anonymous1 month ago
I know a female who does that. No way you will make more than $1,000 unless you kill puppies and kittens or something sick like that. Her BF masturbates and squirts on her feet to make about $1,000 per year. Perverts are also cheapskates.
- Elaine MLv 71 month ago
$500 or more in sales per year. Lower than that is considered a hobby business.
- Brian McilweeLv 51 month ago
Assume that you have to start paying on $400.00
But: You could consider this as 'Hobby Income' and then include it at the end of the year..meaning you would net it against your regular income.
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- StephenWeinsteinLv 71 month ago
If your total income is enough to have to pay taxes on any of it, then you must start paying tax on this income as well, right away.
If you have no other income, then you have to start paying tax to the federal government when you make $400.
Depending on your state's laws, you may also have to charge the customers sales tax and pay that, starting right away.
- UserLv 71 month ago
At the point you start earning money
you shouldn't have to pay taxes until the end of the first year (actually: not until April 15 following the first year).
What you are describing is a business
owned by you (sole proprietor).
You have to pay social security and medicare taxes
no matter how much you make a year.
You will have to also pay income taxes if you make enough money
social security and medicare no matter how little money you make.
(Actually I think there is a minimum below which you don't have to pay ss and medi, but the minimum is VERY little.)
Starting the second year
you will have to pay estimated taxes if you owed more than some minimum amount of tax for the previous year. (I believe it's something like $500. So: if you owed more than $500 dollars the previous year, this year you will have to make estimated tax payments.)
If your taxes from the previous year were relatively low
you will have to pay quarterly estimated taxes - beginning on April 15.
If you start making DECENT money
(in excess of $20,000 per year)
it will behoove you to become incorporated and have the corporation pay you a salary.
This will reduce your taxes.
- Anonymous1 month ago
Nobody makes $90k a year off feet pics.
For taxes its $400 a YEAR.
- Son of T3Lv 71 month ago
Based on being self-employed, the limit is $400.