OnlyFans TAX FAQ (US Only)

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Most common onlyfans questions (USA)

  1. Am I really self employed?

Yes, as a onlyfans content creator you are self employed.

2. How much can I make before I have to pay taxes/report the income?

If you have to file for other reasons, you have to include all your Onlyfans income as well, otherwise if you make a profit of $400, or if you are paid $600 to your account in one year, you are expected and required to file. Onlyfans is required to send you (and the IRS) a 1099 when you make over $600, but they can send you one even if you are under that amount.

3. What counts as being “paid”, when it hits the account or when I withdraw from the account to my bank?

You are considered paid when the money hits your account, it does not matter when you withdraw the money.

4. I want to keep this a secret but I’m a dependent and/or live with parents/others.

You may get a 1099 in the mail, and it looks like they will come from a company called “Fenix International Ltd” (I can update this when someone confirms). If you are truly worried about the mail, you can open a cheap PO box and update your address on Onlyfans to that.

As for your taxes, your return does not need to be viewed by anyone else, even if you are a dependent. If you are a dependent, you simply file stating that you are a dependent, and whoever claims you on their taxes will state that, and there is no other comingling of information. However, if you are married and intend to file a joint return, your spouse will have a right to the return as well.

If your family has a professional do the taxes of everyone, you can either ask for your own appointment or ask to do them yourself. A good excuses is “I’m an adult now and need to learn about this stuff, now’s a good chance to do that.”

5. How can I file?

Best options: You can use a paid professional or you can use software that walks you through it by asking questions. Many softwares are free to file federal forms, but as a small business, don’t be surprised if there is a fee.

6. What do I file?

Schedule C. This is where you determine your profit from the OnlyFans. You only pay taxes on profit, not gross revenue, so business expenses reduce your taxes. .

Schedule SE. This is where you compute the equivalent of Social Security and Medicare taxes (FICA). This is called “Self Employment Taxes” (often just called SE tax) and is in addition to income tax.

More info and detail available on this comment

State. You may also need to file for whichever state you reside in. There are 50 states, we can’t fit them all here.

7. What are my business expenses/what can I write off?

What did you spend money on purely for your work? What did you buy to make content? New camera, separate computer, clothes and/or “accessories” that are not otherwise for personal use (please don’t make me spell this out), rent a hotel or loft for a special session, hardware (pole, swing, etc.) that are specific to making money… the list is potentially infinite, but the general idea is that if you bought it with the intent to make more money, and it’s not for non-business use, then it can be counted as an expense. All expenses have to be “ordinary and necessary” for the business.

Special note about clothes: only clothes that cannot be worn in normal everyday situations can be deducted. Easy way to think about it is “would I wear this to the store?”

8. What about “business use of home?”

The rules about this are pretty clear. You can read them directly from the IRS on Publication 587 The section “Qualifying for a Deduction” states the rules and definitions, and has a flowchart.

9. What about state taxes?

Many states also have an income tax which may require you to report your self-employment income. If you lived in more than one state during the year, you’ll likely need to file tax returns for all states where you earned money, and all states where you lived while you earned money.

10. Does this affect unemployment?

Yes, you are considered self employed. Since unemployment rules can vary by state, we’ll have to just say that this is considered earned income as soon as money hits your account (regardless of when you withdraw).

11. What do I put in as “profession”

Most people just put “entertainer” or some variety of that. It’s for statistics and analytics, no one is judging.

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