I have created an onlyfans page and I need to fill out a w9 tax form to begin receiving payments. I’m unsure HOW to answer the questions. Can anyone help?

Forum|Forum|5 years ago
June 25, 2020
4 replies
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The questions are asking what is the business name and federal tax classification. Is the business name MY name or onlyfans? Since technically the site is the “middle man” with the money. Th

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VolvoGirl

Employee

Yes the business name is you and you use your ssn. Check the first box. You are an individual sole proprietor.

Yes you are the owner of your own self employment business. You are in business for yourself. Use your own info. The people or company that pays you is your customer or client. You need to fill out schedule C for self employment business income. You are considered to have your own business for it. YOU are the business.

Opus 17

Employee

@VolvoGirl wrote:

Yes the business name is you and you use your ssn. Check the first box. You are an individual sole proprietor.

Yes you are the owner of your own self employment business. You are in business for yourself. Use your own info. The people or company that pays you is your customer or client. You need to fill out schedule C for self employment business income. You are considered to have your own business for it. YOU are the business.

As a self-employed person, YOU are the business.

You may not be required to use your actual name. You may be able to create a "dba" name ("doing business as"). For example, you could be "John Smith d/b/a Smith and Sons Landscaping" or whatever suits you. How to make a dba name, and if it needs to be registered with the government, is a matter of state law, check your state to see if there are rules if you don't want to use your own name.

You are required to have a Tax ID number. By default, this is your personal SSN. However, if you don't want to give out your personal SSN for business reasons, you can get an EIN (employer ID number) from the IRS for free in about 15 minutes. Then you use the EIN for business and your SSN for personal and only the IRS knows whose EIN belongs to whose SSN.

https://www.irs.gov/businesses/small-businesses-self-employed/how-to-apply-for-an-ein

OnlyFans is required to report to the IRS how much money they pass through to you using your tax number. OnlyFans will keep the W-9 and use it to set up their tax reporting, they don't send it to anyone else.

judgie0723

My partner and I have recently started an onlyfans page. In order to add a bank account they needed both of us to provide a copy of our ID's even though the page is mainly focused around her. They say because I am part of the content they needed my info too. Once we got approved they gave us a w9 to fill out and I am curious about line 3. Do she put Individual or Partnership, and do I also need to fill out a w9?

Ali1katt

Hi guys, I recently made an onlyfans (9/1/2020) I made $445.50 so far and I am very confused with their taxes and how to file it (first time filing) this is my main source of income at the moment + Fafsa. I did not get a EIN from onlyfans. I would like to start filing my quarterly taxes. I know I’m suppose to file a schedule C but what else do I have to file. I’d like to know how much I owe and where do I file it because I don’t think onlyfans sends us the tax forms we need to file. Also my mom claims me as a dependent since I’m in college she’s allowed to, will this ruin her taxes and will she be able to see what I’m filing .

xmasbaby0

Employee

@Ali1katt You get a tax identification number from the IRS--not from onlyfans. You can use that Tax ID instead of giving them your Social Security number.

https://www.irs.gov/individuals/international-taxpayers/taxpayer-identification-numbers-tin

You say you started this in 2020. You are self-employed. You do not file a Schedule C until you prepare a 2020 tax return in 2021. At this point you have made so little that you probably do not need to worry about paying quarterly taxes.

If you will be claimed as a dependent on your mother's tax return then when you prepare your own tax return you will need to say in My Info that you can be claimed as someone else's dependent. If you mess that up--your mother will not be able to e-file her own return if you file first. Then you will need to explain to her what you have been doing to make some extra money and why you filed a tax return.

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

https://www.calcxml.com/calculators/self-employment-tax-calculator (non-TT site)

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Ali1katt

Hi thank you so much for responding. So I wouldn’t file anything yet until 2021 taxes are due? What would I file as? A schedule c or 1099. Also as for my mom, would it be best for me to file after her? I will remember to include that I can be claimed as a dependent.

Aneisha28

Hi,

1. I created an onlyfans page as an individual/sole proprietor. I am not using my real name on the onlyfans page, do I have to register my onlyfans username as a business?

2. Because it is not my real name do I have to put the username I go by on the W9 form?

xmasbaby0

Employee

That W-9 will be used by them to issue you a 1099NEC someday so that they can report your earnings to the IRS. So, you have to use your actual name on it. It is a tax document--you do not use a "username" on a tax document.

xmasbaby0

Employee

@Aneisha28 If you do not want to give your Social Security number to them or put it on the W-9 you can get a Tax ID instead. You get that from the IRS.

https://www.irs.gov/individuals/individual-taxpayer-identification-number

amy62

It is also the ein that Only fans is reporting on the 1099 the IRS is rejecting returns because it says it is invalid EIN number.

mglauner

Reach out to Only Fans to verify the EIN number. If you imported the 1099, try deleting it and entering it manually. If you're using TurboTax Online, clear your Cache and Cookies.

@amy62