Focus On Your Business While OnlyFans Accountant Handles Your Bookkeeping And Taxes
Let OnlyFans CPAs help you file complex tax forms, keep a record of your receipts and invoices for clean bookkeeping, get you maximum OnlyFans tax write-offs, and undertake tax and financial planning so that you don’t miss any tax saving opportunities, take care of your family’s financial needs, plan for retirement, and do not stress about the boring OnlyFans tax issues.
Reduce your OnlyFans tax bills, get paid from your business, and focus on creating quality content with OnlyFans accountants who understand the essence of adult content creation business and have expertise in managing and advising on OnlyFans tax, OnlyFans accounting, and financial matters.
THE FUNCTIONS OF AN ONLYFANS CPA
Who Is An OnlyFans Accountant?
OnlyFans accountant is a tax professional who has expertise in managing and advising on financial and tax matters associated with adult content creators using the OnlyFans platform.
- He understands how the adult entertainment industry functions
- He knows the typical tax and financial occurrences faced by OnlyFans content creators
- He helps content creators fill up the OnlyFans tax forms
- He gets maximum tax write-offs for creators' OnlyFans business expenses for minimizing their tax bill
- He has the expertise in managing and advising on tax and financial matter
- He undertakes tax and financial planning on behalf of the OnlyFans content creators so that they don’t miss any tax saving opportunities
- He resolves the typical OnlyFans tax and OnlyFans accounting issues that OnlyFans content creators face over the course of their business
- He calculates the self-employment tax liability of the OnlyFans content creators and files quarterly estimated returns on their behalf
What Does An OnlyFans Accountant Do?
As a tax professional who knows the dynamics of the adult content creation industry and the unique tax situations OnlyFans content creators commonly face and specializes in dealing with complicated tax and finance matters, an OnlyFans accountant does it all, right from helping you fill-up the OnlyFans tax forms, getting maximum tax write-offs for your business expenses for minimizing your tax bill to resolving the typical OnlyFans tax and OnlyFans accounting issues that you face throughout your business.
1
Understand and Use the 1099 Form for Tax Filing
If you’re a US-based content creator earning $600 or more on the platform, you’ll receive a 1099 form from OnlyFans containing information about your earnings.
An OnlyFans accountant will help you understand the earnings information contained in your 1099 and use that information in preparing your tax returns.
2
Undertake Clean Bookkeeping
You don’t have to stress yourself about collecting receipts and invoices for maintaining your books. An OnlyFans CPA will keep track of all your receipts and invoices and ensure that you have clean books of accounts so that you don’t have to deal with the IRS for unpaid taxes.
3
Get Tax Deductions For Increased Tax Savings
You won’t have to bother about knowing what business expenses to write off as tax deductions to reduce your overall tax burden. An OnlyFans accountant knows what OnlyFans business expenses can be written off as tax deductions and ensures that you miss no opportunity to reduce your tax payables.
4
Calculate Self-Employment Tax Liability
The IRS considers you a self-employed individual liable to pay self-employment tax if you are a US-based content creator earning money via your OnlyFans account.
The OnlyFans tax accountants calculate your self-employment tax liability that is your contribution towards Social Security and Medicare coverage under the Social Security system and file your self-employment tax returns.
5
File Quarterly Estimated Returns
Since you are a self-employed person and not a wage earner in the eyes of the IRS if you are an OnlyFans content creator, there’s no employer withholding and paying tax from your wages. You are liable to calculate and pay your self-employment tax on your own.
This is where an OnlyFans CPA helps you calculate your total tax liability, prepare your quarterly estimated returns, and file them by the specified due date with the IRS to avoid huge tax bills towards the end of the tax year and possible penalties for underpayment.
6
Undertake Financial Planning and Advisory
The OnlyFans CPA will help you manage your income, advise you on retirement solutions, undertake financial planning to provide for your future needs, and ways in which you can improve your brand’s financial performance.
How Do I Know That An OnlyFans Accountant Is Best For Me And What Do I Get?
REASONS FREECASHFLOW.IO IS YOUR GO-TO ONLYFANS ACCOUNTANT
Why Choose Freecashflow.io For Your OnlyFans Taxes?
Freecashflow.io is the only licensed CPA firm for online business in the US that has a team of CPAs having requisite expertise and experience in managing and advising adult content creators on tax and accounting matters. We understand how the adult content creation industry functions and know the typical tax and accounting situations faced by OnlyFans content creators.
Having worked with many online adult content creators, we are well-versed with the struggles OnlyFans creators have in terms of filling up complicated tax forms, settling bookkeeping as per the IRS standards, knowing tax write-offs and other tactics for minimizing overall tax burden, and dealing with boring tax and accounting issues.
We realize and provide you with the support your OnlyFans business needs to deal with accounting and tax challenges so that you can focus on doing what you are best at – creating quality content and growing your OnlyFans business. As your OnlyFans accountants, we at freecashflow.io bring in the following key services.
Expertise In Working With Adult Content Creators
We have advised, supported, and helped many adult content creators like you manage their income, plan their taxes, maintain clean books of accounts, plan their retirement, provide for their future financial needs, and reduce their tax payables.
As your OnlyFans CPA, we understand and provide you with the best advice on the peculiar tax and accounting occurrences you face as an OnlyFans content creator.
Our team knows the adult content creation industry to the core and is aware of various things an adult content creator deals with – shooting content, buying clothes and equipment, paying OnlyFans transaction fees, hiring a marketing agency, deciding on the subscription fee, upselling via sexting, pricing content for increased revenues, and adhering to content creation schedules.
Because we realize what it takes to run your OnlyFans business, we speak your language from day 1.
More Than Bookkeeping And Tax Advisory
Freecashflow.io as your OnlyFans CPA goes beyond simply managing and advising on your tax and accounting matters.
We serve as your outsourced CFOs so that we can provide you with unlimited support in strategizing ways in which you can increase revenues via new revenue streams, undertake valuable brand collaborations, plan your finances, and improve your overall brand performance.
As your outsourced financial consultants, we ensure that you are protected from tax and compliance issues and have our support whenever you need us anytime during the year.
20+ Years Of Experience Working In Multinational Companies
Our team of CPAs has worked with Corporate America, and therefore, knows the strategies big multinational corporations adopt to deal with their tax and accounting situations.
We use the same strategies and tactics as used by these billion-dollar giants to help you deal with your unique tax and accounting circumstances.
100% Customer Retention Rate
The positive ROIs we generate for our customers reveal the valuable contribution we make to adult content creators’ OnlyFans businesses.
Freecashflow.io’s 100% customer retention rate in the case of OnlyFans content creators speaks volumes of our commitment to delivering what we promise and having our customers receive value for every dollar they spend on having us as their OnlyFans accountants.
PACKAGES FOR ONLYFANS CONTENT CREATORS
What Is Our Pricing For OnlyFans Creators?
Since we serve as your outsourced financial consultants who provide you with year-round support for tax, accounting, and compliance issues, we work on a fixed-price model.
As your OnlyFans accountants, we charge a monthly fee to provide you with unlimited support anytime you need us during the year apart from handling your:
- Bookkeeping
- Accounting
- Tax forms and Deductions
We prepare and manage your books of accounts month-on-month so that all your accounts are up-to-date enabling you to track your financial statements and know the financial position of your OnlyFans business.
You may choose to pay either on a monthly or yearly basis, depending on what plan suits you best.
However, we typically offer a discount if you choose the yearly plan upfront. Most of our adult content creator clients pay us yearly owing to the taxes they can save towards year-end.
For more details on monthly and annual pricing plans for OnlyFans creators, check our OF Tax and Bookkeeping Package page.
100%
CUSTOMER SATISFACTION
$6.2M
TAX DOLLARS SAVED
Authenticated by VerifyCPA, Registered In California Board Of accountancy
FreeCashFlow.io Is The Only Licensed CPA Firm For Online Business In The USA
License Number #1: CPA031269
License Number #2: CPA121400
Introducing FreeCashFlow.io's
Onlyfans Tax & Bookkeeping Package
Automated Tax Fillings
We'll help you to file your taxes.
1099? W-9?
Any form you have, we will handle it for you, you'll never have to fill in another tax form again.
Bookkeeping
You know all the invoices / receipts that you have?
Yes, we will take care of that.
Then we'll take all that info and put it into clean financial statements that the IRS would be proud of.
You'll always know how much money is going in and out of your business.
Tax Reduction
We'll give you tax advice on the things that you can be doing to reduce your taxes.
Real estate, HSA, 401ks, tax deduction tactics, we'll give you the advice you would need.
And if you want it implemented, we'll implement it as well.
100% Risk-Free Money Back Guarantee Or You Simply Don't Pay
We at freecashflow.io are extremely proud of the service and team that we have built. We are obsessive at helping our customers win.
We deliver on our promises or you simply don't pay.
If we do not help you file your taxes promptly, we will give you back your money.
We want to make it so that there is NO RISK to you when you sign with freecashflow.io
If you have refund requests or unhappy with your service, simple message our CEO directly at alan@freecashflow.io and we will take care of it.
Here's What You're Going To Get
1
FreeCashFlow.io OF "Worry Free" Package
Paid Monthly
$360 USD/MONTH
- Year-round support for all of your consultation and strategy needs
- Dedicated slack channel so you can ask questions anytime (1-2 Business Day response time)
- Algorithmic Tax Planning to ensure you are benchmarked and get the maximum tax-saving profit you deserve.
- Annual Bookkeeping where we will provide you with a presentable balance sheet and income statement.
- Annual Federal and State Tax Filings with the IRS
- Dedicated review process so you can learn about all the ways you can take advantage of all the tax deductions and credits for the next cycle (and how to qualify for them!)
- Complementary 6-month extension services
- 3 x 1-hour consultation calls that is useable anytime during the year
- Support for Optimized Business Structure setup and 1099 filings
- 100% Satisfaction Money Back Guarantee
FreeCashFlow.io OF "Worry Free" Package
Paid Monthly
- Never worry about filling up another tax form again
- Have more time & less stress to focus on growing your business
- Be confident the IRS won't come after you
We accept VISA, Mastercard, Google, Apple Pay and process our payments on stripe.
2
FreeCashFlow.io OF "Worry Free" Package
Paid Yearly
$4,000 USD/YEAR
You Save: $320 USD
- Year-round support for all of your consultation and strategy needs
- Dedicated slack channel so you can ask questions anytime (1-2 Business Day response time)
- Algorithmic Tax Planning to ensure you are benchmarked and get the maximum tax-saving profit you deserve.
- Annual Bookkeeping where we will provide you with a presentable balance sheet and income statement.
- Annual Federal and State Tax Filings with the IRS
- Dedicated review process so you can learn about all the ways you can take advantage of all the tax deductions and credits for the next cycle (and how to qualify for them!)
- Complementary 6-month extension services
- 3 x 1-hour consultation calls that is useable anytime during the year
- Access to our 30 hours "Tax-Free Ecom" Course so you can learn about how you can properly structure your OF business and let your money grow for you and set yourself up for the future
- Access to our network of referral and agency recommendations.
- 100% Satisfaction Money Back Guarantee
FreeCashFlow.io OF "Worry Free" Package
Paid Yearly
- Never worry about filling up another tax form again
- Have more time & less stress to focus on growing your business
- Be confident the IRS won't come after you
- Absolute peace of mind
We accept VISA, Mastercard, Google, Apple Pay and process our payments on stripe.
If You Need One-Time Tax Filling ONLY
3
FreeCashFlow.io OF Tax Filling Package
1-Time Payment
$1,500 USD
- We provide on-time Federal and State Filings for one personal/LLC entity
- We provide one 1-hr Consultation call, useable anytime during the year to go over your tax situation.
- Review call to go over your tax situation and recommendations for next fiscal year.
We accept VISA, Mastercard, Google, Apple Pay and process our payments on stripe.
P.S. OF also uses Stripe for their payment processing.
DEDUCTIONS FOR ONLYFANS CONTENT CREATORS
What OnlyFans Tax Write-Offs Can I Claim As An OnlyFans Creator?
Many adult content creators aren’t aware that they can deduct many expenses they incur as part of running their OnlyFans business from their OnlyFans income and reduce their tax bill. Since your OnlyFans income is treated as a business income, you can deduct certain expenses from your income and reduce your tax payable. Some of the deductions that you can claim include amount spent on:
- Costumes
- Camera and audio equipment for content creation
- Food and flight tickets in collaboration with other content creators
- Real estate
- Hiring team members
- Investments for building an eCommerce brand to expand business portfolio
To know about other business expenses that you can claim as deductions, read our article: Top 15 Tax Write-offs for OnlyFans Creators .
ONLYFANS TAXES
Do You Have To Pay Taxes On OnlyFans?
Since you are a self-employed person in the eyes of the IRS if you are earning income as an OnlyFans content creator, you are liable to pay both federal income tax and self-employment tax to the IRS.
While federal income tax is calculated on your taxable income at the marginal income tax rate as determined by the IRS, self-employment tax is charged at the rate of 15.3%.
The rate of self-employment tax is further bifurcated as 12.4% for Social Security Tax and 2.9% for Medicare Tax.
Additionally, you can claim deduction for one-half of your self-employment tax at the time of filing returns with the IRS and reduce your tax payable.
Want to know the amount of OnlyFans taxes you are liable to pay as an OnlyFans creator?
Read our detailed guide on OnlyFans and Taxes.
Frequently Asked Questions
You may have some questions. We answer them here!
It is not mandatory to have an OnlyFans accountant to settle your books, manage OnlyFans taxes, and file returns. You may choose to do your books and taxes all by yourself.
However, keeping track of receipts and invoices for clean bookkeeping so that IRS doesn’t come after you, filing complex OnlyFans taxes, and claiming appropriate tax-write offs for maximized tax savings can be both boring and complicated.
Also, there may be tax and accounting issues which need the expertise of an OnlyFans CPA to be resolved. This is where an OnlyFans accountant come in handy.
Since he knows how the adult content industry functions, he’s aware of the typical tax and accounting situations you face as an OnlyFans creator.
Having an OnlyFans accountant will help you do away with the tax and accounting struggles such as maintaining clean books, filing complicated tax forms, and claiming maximum write-offs for tax savings.
Moreover, you will have the support of a tax professional who will ensure that you are safeguarded from any tax and accounting compliance issues in case such events arise.
Finally, you may be able to focus on doing that you know best – creating valuable content as a creator and gowring your OnlyFans business.
There are several expenses that you incur as an OnlyFans creator that can be claimed as deductions to reduce your overall tax burden.
You can simply deduct these expenses from your OnlyFans income, reduce your taxable income and, thus, the tax paid on your OnlyFans income.
Don’t know where to start from to claim tax write-offs on OnlyFans?
Here are on top 7 deductions for OnlyFans creators we have curated just for you to help you reduce your OnlyFans taxes.
If you are an adult content creator earning income via OnlyFans, you are a self-employed person in the eyes of the IRS.
As a self-employed individual, you’re liable to pay both federal income tax and self-employment tax to the IRS.
Accordingly, you need to file annual federal tax returns in form 1040 and 1040 Schedule C, self-employment tax returns in 1040 SE and quarterly returns in 1040-ES.
To know more about to how to file OnlyFans taxes as a self-employed individual, read our detailed article: Paying Self-Employment Tax: All You Need to Know.
Yes, OnlyFans, a subscription-based social media platform, reports to the IRS.
This is because IRS requires all persons making payments during the calendar year as a business or self-employed to report returns to the IRS.
Since OnlyFans is a business that makes payments to a number of content creators like you registered on its platform, it is required to report an information return to the IRS.
Form W2 is the informational document that the employers send to the Social Security Administration providing information such as the wages they pay to the employees, the taxes they deduct from the employee wages, and other details related to specific type of employee compensation.
Accordingly, you will not receive a W2 from OnlyFans.
To know more about this, read our article: Does OnlyFans send a W2?
Erase Your Tax & Accounting Problems Today
freecashflow.io has been a lifesaver for me. Previously when my OF business was rapidly growing at the end of the year I was hit with a huge tax bill. It was my first time doing this so I was shell shocked because I was not properly tracking my finances. When i came to look for an expert consultant to do my books, I found fcf on google. FCF, alan and their team helped me to reduce my tax bill by almost $18,000, which is insane! thank you guys so much
Helen Owens
OF Model & Business Owner
Contact us
- admin@freecashflow.io
- +1 626-869-8627
- 227 S. RAMONA AVE. APT. A MONTEREY PARK, CA 91754 California, USA
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