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OnlyFans taxes
What do you as a creator have to consider from a tax point of view?
In this tutorial, OnlyFans tax consultant Thomas Matisheck explains to you what you need to consider when it comes to OnlyFans taxes. Whether you have to register a business, when the business tax is due and for which other taxes you have to pay as a creator, you can find out here.
OnlyFans taxes - This is what you will learn in this blog about it
This video is about a frequently requested topic on the social media platform OnlyFans. What do you have to consider fiscally as an actor? This topic raises many questions, but we have the answers. For this we have brought OnlyFans tax consultant Thomas Matisheck on board, who gives us information about how it looks with the business registration, which taxes are due, who has to pay them and what else you have to consider as OnlyFans actors.
Therefore, I will now hand over the floor to Thomas.
OnlyFans Taxes - An Overview
So that you can understand the whole thing better I have presented it in the form of a small presentation.
So first of all it is a question of whether the entrepreneurs are yes or no, do you have to do a business registration, would you have to do the
Submit questionnaire for tax registration and what are the implications for sales tax or even the
Income tax. These are all questions that you usually only ask yourself afterwards, but they are crucial when you start to expand your reach via OnlyFans or other platforms.
monetize.
So basically, anyone who performs a commercial or professional sustainable activity to generate income is a
Entrepreneur – completely regardless of whether he will make a profit or not. This means, using the example of OnlyFans, that you are an entrepreneur from a tax point of view if
you use your reach and monetize the content – be it in the form of subscribers, be it in the form of doations, these are all profits or “revenues” that you
to flow, which you must take into account.
Is a business registration necessary?
When it comes to business registration, it’s not so clear. It depends on what exactly you do at OnlyFans. For example, if you are a fitness instructor or musician, you do not need to file a business registration. For any further activity, this must be clarified on a case-by-case basis. But quite often you come to it, yes it would be necessary to register a business. In case of doubt, you can still submit the business registration afterwards, but if it is unclear – so you are not a fitness trainer, you are not a musician, you are a model, you do certain things on OnlyFans, then it would have to be clarified on a case-by-case basis and often
you come to it – yes you are then a trader and thus you must carry out a business registration.
The questionnaire for tax registration
In any case, if you earn money through OnlyFans, you will have to fill out a tax registration questionnaire, which can be
You can easily do it through the program “Elster”, so under the website: www.elster.de you can use the so-called
Questionnaire for tax registration
fill in. Please fill it out carefully. I mean the usual basicS are of course name, address, tax number, but the profits and sales are to be estimated here. Please be sure to include what you can count on and what you expect. It does not matter if we calculate with 10.000 Euro turnover or with 500 Euro turnover. First of all, it is important to note that it is an estimate that you are submitting. So don’t despair, but first enter what you roughly expect. You can always correct it later.
OnlyFans Taxes - Apply for a VAT ID directly
What many also forget is to apply for the sales tax ID. You may need this again someday, and having is always better than needing because the application process can take a long time.
Do you have to pay the sales tax?
It is the same with sales tax – according to OnlyFans, the platform deducts sales tax for you. You have no customer data, no address data, no payment data from the customers. Therefore, it is very difficult to do it yourself. But what we always say with our clients
is: we send the information to the tax office and they answer us. We will send you a letter or e-mail and explain the facts as there of our
Opinion the situation is that OnlyFans
says you pay the taxes and we
ask briefly for confirmation, so that you do not have the problem that you do not pay taxes in doubt, although you might have to according to the tax authorities. Please clarify.
OnlyFans Taxes - What are the income taxes?
Income taxes – these are income tax and
Trade tax trigger corresponding profits, if I actually only losses through the platform OnlyFans
If I don’t make any money because I simply don’t get any donations or don’t have any subscribers, then the loss can also be claimed. But the profits simply trigger as taxes. And if I’m a trader, so that meant I had to file the business registration, then maybe I’m also subject to business tax. Namely that with a profit of over
24,500 euros. Therefore, due to taxes, forms reserves here. We advise that around 30 percent of revenues be set aside as a reserve.
so that when you file your tax return, you will have the liquidity to pay for the services you need.
to pay.
OnlyFans tax consultant Thomas Matisheck
What should also be noted – many, although they operate at OnlyFans, do not file a tax return and are not registered as entrepreneurs at all. There are now control messages that are exchanged between Great Britain and Germany, so actually you would have to say between Great Britain and the entire EU, so that here simply the tax authorities have the possibility at some point to evaluate this data and then could come to you with the consequence that you are here in a tax evasion.
Therefore, if you do not want to deal with the matter yourself, then use a tax advisor. Discuss the situation with him so that your here simply not in
you might end up in criminal tax proceedings later on, or you might have to pay horrendous back taxes, which you might not even be able to service, because the money might have already been used up.
If you have any questions, please feel free to contact Thomas Matisheck, who was mentioned here in an interesting article on the subject. They already look after some influencers in the field, they also have corresponding experience and can advise you competently there.
OnlyFans Taxes - The Summary
So to summarize, it depends on what capacity you appear on OnlyFans.
This may look different for a fitness coach than for a model or actress. Accordingly, it also varies whether you are liable to trade tax or not. That’s why we recommend you to clarify the formalities before you start your career on OnlyFans. In any case, you have to fill out the questionnaire for tax registration on Elster and preferably also apply directly for a VAT ID. However, if you want to go the 100% safe route, consult a tax advisor like Thomas Matisheck and your business will be on a firm footing. If there are any specific questions, please write them in the comments and Thomas will answer them or we will forward them to you. If you need help with marketing or specifically social media, we as a social media agency are happy to help.
Do you have questions or need an individual offer? Do not hesitate to contact us.
Haben Sie Fragen oder brauchen ein individuelles Angebot? Zögern Sie nicht, uns zu kontaktieren.
