Finance

Question: Is there a free website or online source of personal finance information for adult entertainers (strippers)?

(Posted by: Janelle on 2007-04-22 01:15:33)

For strippers who's main source of income is cash tips, how does one budget and manage their income effectively. Filing taxes as an Independent contractor with dancing as the primary source of income. i am a dancer with no other dependants. i file taxes as an independant contractor. i don't get paid by the club and have to give them a portion of what i make. Making a living and paying back school loans and credit cards with an income that can be very inconsistent from day to day is very difficult. Being and independant contractor at all takes a great deal of discipline and business savvy. Therefore advice would be helpful.

Posted by: ndarg3 on 2007-04-22, 01:56:13

Assuming you're in Australia, you have a few options. Keep the money undeclared,seek investment advice that doesn't need to assess your cash flow. Ie savings plans or even a retail superfund. this is a good short term option because obviously you can't do this work forever as your looks will expire no matter how many pilates classes you do. you can then decide after you settle down. If you want everything on the table, just treat yourself like any other independant contractor then the Tax office can help you with that. The advantages is you will have a history of declared earnings which will entitle you to a home loan under similar conditions of other contractors. I'd go option one. My understanding is you girls earn heaps and have boyfriends who help you spend it so instead of giving the Tax office a slice leaving you with nothing, save it up and use it as a deposit once you start a regular job.