So, you're thinking of starting work as an escort and have no idea how to go about making your escort job a tax legal business. Or you've already been working and are worried about how to file and pay for taxes, knowing that the cash has already come into and gone out of your hands without any money having been saved for Uncle Sam. Or you want to start a larger agency with experienced escorts and a savvy business manager.
The government takes the collecting of your money rather seriously (how else would they pay for corporate bailouts and highway construction?) So when starting escort work in any capacity you need to get your books in shape and keep the taxman at bay.
As an escort you've joined a legion of workers known as freelancers. Writers, nannies, musicians and the like are often collecting fees in cash and paying bills with money no one is officially keeping an eye on. In essence, your freelance work is the business of YOU, and you legitimize this work in the eyes of the government by registering that business. Sadly, it's not as easy as going to your local town hall and scribbling your swirly John Hancock. But it's not as complicated as you're probably imagining, either.
And we want to help you make those first important steps so that you avoid any trouble with the IRS.
Each state varies in their registration process. Some states require a bit more paperwork than others, but the internet has made it extremely easy to find most of the forms you'll need to fill out online. And we've collected the bulk of the information to help you get started on your way.
In these articles you'll learn:
- Why it's important to register your escorting service.
- The difference between tax evasion and tax avoidance.
- The four basic business structures that apply to the industry, and which you should use for your business.
- How to register a business name, a tax identification number, any business agreements needed, and how to sign up for state and federal taxes.
- Which taxes you'll need to pay depending on your business model.
- Where to get more information in your state.
How to register an escort business by state
How to register an escort business by province in Canada
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