Webcam modeling is a growing industry, and if you want to become a webcam model, you need to know some basic stuff in order to have a piece of mind.
Many webcam models want to know couple of things,
- are they safe while working online
- how much they can profit from webcam modeling
- what kind of equipment is the best for cam modeling
- which websites are best for webcam modeling
- and the last but not least, how to pay taxes and have a piece of mind
When it comes to paying taxes, it all differs from country to country and website where you work. By working on the site you are a independent contractor, and yes you have to pay taxes, we suggest that you get help from an accountant for that.
The good thing is that you can write off many things when paying taxes, like electricity, Internet access, Webcam Equipment and so on. In addition to paying regular income tax you also have to pay an additional 15.3% self employment tax for Social Security.
Save about 30% of your earnings so you can cover the tax bill year end.
Because You are considered self-employed, not an “employee.”
All webcam modeling sites will report all earnings to the IRS, you will receive a annual 1099-MISC earnings report if you earned more than $600 for the tax year. It will show that you are a contractor with that particular webcam modeling company.
That’s why I created this list of webcam modeling sites and Tax regulations that you need to know.
Webcam Modeling and Paying Taxes
- Chaturbate – You need to Pay Your Own Taxes (click here for more)
- Internet Modeling – You need to Pay Your Own Taxes (click here for more)
- I-camz – Taxes will not be taken out of your check. You are considered an independent contractor. (click here for more)
- Bonga – You need to pay your own taxes
- ManyVids – You Pay Your Own Taxes because You’re Independent Worker (click here for more)
There you go, the end point is, you are working as an independent worker for most of the webcam modeling sites, they protect themselves, so It means that you need to pay taxes on the money you earn. Let me know in the comments if you need any more info, and good luck with your webcam modeling activities.