Katherine Studley

How to work with me for SW tax preparation and business advisory Industry specialized and judgement free ❤️

Moved into the new space today ! If you’re in Houston we can set up an in person consult ☕️ step into my office

Filing a tax extension is only an extension to file, NOT to pay Your tax is still due on April 15th Read that again 💕

If you’re a cosplay creator it’s normal to have a higher costume expense than other creators, that’s how you make money in your niche. If your accountant doesn’t understand the industry they would consider that a 🚩, but we understand ❤️ Judgement free tax help

You have to reply to us to keep your spot as a client ❤️ 🫣 there’s a line of baddies who need tax help so after 3 contact attempts we will move on to the next person. I get it & ily but this is business bb

Starting an LLC in a state with no state income tax doesn’t mean you’re exempt from state taxes….It means registering your LLC in two states and still paying taxes in the state where the income is earned. Please don’t fall for legal zoom propaganda 😭

If your parents claim you on their taxes but you have taxable income (like a 1099 from Only Fans for example) you need to file your own tax return bb.

How to work with us this tax season (Rates start at $750+) - complete client application (first time clients) - pay $200 RSVP deposit - send us your docs and info in our tax portal (January - April) - reply to our messages , after 3 contacts attempts you’ll lose your spot & deposit - book your free 10 min call with me if you have Qs - once your info is submitted we will bill you for the rest of our service before tax prep begins - when your return is done (7-10 days) you’ll sign your efile forms and we will file with the IRS We have limited capacity so if you’re serious about becoming a client please complete the client app/ RSVP asap ❤️

If you’re a feedism creator the food you consume on camera is considered a supply and not a meal. This is an important distinction because supplies are 100% a write off and meals are only 50% Work with an accountant who understands your world, judgement free ❤️ 🍲

Things that are NOT a tax write off as a xxx creator (sorry don’t fight me) -Gym -Meal prep -Massages & Facials -Botox/filler/cosmetic procedures *** MAYBE if you’re fet!$h content but I wouldn’t do it***** -Your entire rent -Civilian clothes for content -all your DoorDash -personal vacations As always there are more, it varies in your niche. This is just a list to get your wheels turning about how to move like an entrepreneur. See my previous posts on what you CAN write off SW friendly tax help Accepting clients in all 50 states

Hot girls vote 🗳️

An S Corp is not a separate entity, it’s a tax election. You need an LLC or corporation first and then you file form 2553. Do NOT start an S Corp without consulting an accountant or attorney. If you start it too early it will cost you more money to maintain than it will save you on tax. It saves you money but you also need to file a separate tax return, adjust your tax planning and pay a payroll service to run your W-2.

Trying a new self tanner tn plz keep me in your thoughts ☀️ stay tuned lol

Tax write offs for adult creators ⬇️ Management / assistant Laptops & cameras & mics Xxx toys & accessories % of rent, utilities, WiFi & phone Conventions & networking events Makeup used only for content Wigs , strip lashes, press on nails Lingerie & costumes LLC formation & Tax prep Health insurance premiums Photoshoots Courses & mentorship Flights & hotels & Airbnb Biz meals * Subscriptions (editing, verification etc) VPNs There are more and it depends on your niche and business, this is a simple list to you get started and thinking like an entrepreneur ✨ Track your expenses by category 😉 And follow me for judgement free, industry specific tax help ❤️

Adult creators are taxed on their profit which is income minus biz expenses aka write offs. If you have more expenses than what you earn you will NOT get a refund 😭 ❤️ SW friendly tax help 🌶️

An example of how your money should move as an xxx creator: 💸 ➡️ Deposit 100% of your self employment income into a separate bank account (Biz or personal, it just needs to be isolated) Transfer 60% to your personal account (Owners Draw) - living expenses - debt payment - fun - invest Transfer 25% to high yield savings for taxes Keep 15% in the bank account for business expenses (aka write offs). You can use an isolated credit card for biz expenses to collect points and pay it from your isolated business checking account You can adjust the percentages but this is the general idea 💡 ✨ SW friendly tax help - all 50 states

Tarot reading for the tax baddies. I literally juuuust pulled this card for myself so it’s definitely the energy of the day. We are moving offices this week and I’ve been feeling a little nostalgic so this resonates. You? The World 🌎 Successful completion and reaping rewards A cycle is complete but the end is also a new beginning. There is excitement around whah is yet to come and you are now ready to begin a new journey from a place of empowerment and maturity  #taxtok #tarot #theworldtarot

As an adult creator, when you transfer funds from your business bank account to your personal bank account this is called an owner’s draw. It’s not additional income and it’s not an expense, it’s a cash flow transfer. You are taxed on your profit which is your biz income less your biz expenses aka write offs Judgement free tax help ❤️ Accepting clients in all 50 states Set up a consult ☎️

If you see this message in your IRS portal but you already filed this is unfortunately a common occurrence. It can take the IRS a few weeks to process tax returns when electronically filed and sometimes months if paper filed. Always save your digital acknowledgment acceptance or your USPS tracking # as proof you did file.

Creator banking! We are seeing a lot of Novo closures right now, if that’s you consider switching banks.

What to do if your bank account gets shut down in the adult industry 🚨‼️ 1 - open a 1 or 2 new accounts at other banks 2 - download everything (7 years of statements in CSV and pdf, tax forms, check images) 3- switch everything over. Direct deposits, autopays, cashapp, tax payments, Quickbooks etc. Scan 12 months of statements so nothing gets missed 4- move money via ACH or wire not cash, leave a small cushion for pending items 5- ask for closure date and reason in writing, ask if you can appeal We just had a client shut out of Novo and have historically seen clients closed out of Wells Fargo, Chase and soon BoA given their issues.