OnlyFans Taxes – A newbies guide

OnlyFans & Taxes: A Newbies Guide

If you’re just starting out and you don’t know the first thing about taxes…

The most important things to understand: 

• You WILL have to pay taxes as an OnlyFans model
• You WILL have to do this yourself (or hire an accountant)
• It is NOT automatic
• Again: OnlyFans does NOT withdraw taxes from your pay
• Save 20-30% of your earnings to cover your tax bill
• Save ALL receipts, both offline and online

Yes, set aside at least 20-30% of your earnings to start with because you WILL have to pay tax on this income.

Note: OnlyFans counts as self-employment from a taxation point-of-view. 

Taxable Expenses

Depending on the specifics of your local laws, a whole bunch of things can be written off as a tax expense.

This means that you can claim back tax, which may be up to 50% of the item cost… if you file it as a business expense.  

So, keep ALL of your receipts!  

What kind of stuff can you (potentially & partially) write off as a tax expense?  

• props   
• lighting accessories
• sex toys 
• gym fee 
• beauty treatments 
• lingerie 
• an Airbnb used for filming 
• some of your RENT if you film where you rent… 
• and more…

Here’s how it works:

If 25% of the time you use the internet is for OnlyFans, then you can write off 25% of your internet bill as a business expense.

It’s business vs. personal use.

You can do the same thing for a phone bill, RENT and so on.

Again any equipment you purchase for OnlyFans… the same principle applies with business vs. personal portion for things like cameras, props, and so on. 

The main “guideline” is that the expense has to be “ordinary and necessary” for your business.  

But “ordinary and necessary” can mean a lot of things to a good accountant.

Keep track of all of your potential expenses in a Google Sheet and find a good accountant to help you out from there.

How a good accountant can make you money

If you’re earning a decent amount of dough… you’ve got the basics down and you’ve got a good few subscribers – then finding an amazing accountant can make you a LOT of money… mainly because of the business expense stuff outlined above.

Don’t worry about being an OnlyFans model. 

Any good, professional accountant will not care.

And you don’t even need to disclose that information, you can simply say that you are a Specialized Content Creator. 

Finding a great accountant

Any real-life connection (friends & family) you have should be your first choice.

Ask them to recommend an accountant.

Failing that:  recommendations from others in the adult business is your best bet.

You’ll want an accountant who won’t judge and one that is familiar with self-employed people – experience in adult business stuff is a plus too. 

Reach out to other models on Twitter, IG, OF, etc., and ask for recommendations.