Just FYI - I've been in adult content creation for years and one thing to remember is that you NEED to keep track of ALL your business expenses. This includes: - portion of internet bill - phone used for pics - lighting equipment - pedicures/foot care (yes, really!) - props/backgrounds - subscription to content platforms - website costs if you create one These are legitimate business deductions on Schedule C that will reduce your taxable income. Use an app to track everything and take photos of receipts.

As someone who's been through the IRS audit process for self-employment income, I want to add some important points about record keeping and documentation. First, regarding deductions - yes, you can deduct business expenses including personal care that's directly related to your content creation (like pedicures for foot photography). However, you need to be able to prove these expenses were "ordinary and necessary" for your business. Keep detailed records showing the business purpose. For the alias/PayPal situation, I'd strongly recommend using your legal name with payment processors. The IRS computer systems automatically match 1099s to your SSN, and discrepancies can trigger correspondence or audits. It's not worth the hassle. One thing nobody mentioned - you'll likely need to make quarterly estimated tax payments since you won't have taxes withheld. The IRS expects payment as you earn, not just at year-end. Use Form 1040ES to calculate and pay these quarterly. Also, keep immaculate records of ALL income and expenses. Use a separate bank account even if you don't form an LLC. During an audit, the IRS will want to see clear business records, not personal accounts mixed with business transactions. The key is treating this like any legitimate business - because that's exactly what it is from a tax perspective.

Has anyone considered Drake Tax's training program? I used it when transitioning from finance to tax, and it was super helpful for learning practical application. They have a certification program too that's way more affordable than most options.

As someone who's been preparing taxes for over 8 years and now runs a small practice, I'd strongly recommend against H&R Block for your situation. You're absolutely right to be concerned about getting the experience you need there. Given your 14-year FA background and EA pursuit, you're actually in a great position to approach boutique tax firms or fee-only RIAs that already offer tax services. These firms often struggle to find preparers who understand investment taxation, retirement planning implications, and business structures - all areas where your background gives you a huge advantage. I'd suggest reaching out to firms in your area that serve high-net-worth clients or business owners. Offer to work the upcoming tax season part-time while you complete your EA. Many firms would jump at someone with your qualifications, even for $30-35/hour starting out. Also consider joining local tax professional groups or NATP chapters - great networking opportunities and many firms recruit through these channels. You'll learn more in one season at a quality firm than multiple seasons at a volume preparer like Block. The EA designation combined with your FA experience will make you incredibly valuable in the tax prep world. Don't undersell yourself by starting at the bottom of the food chain.

Im in almost identical situation, 102k salary and my refund last year was about $1,900. But every1's situation is different! It depends on: - how your W4 is filled out - if u have other deductions (student loan interest helped me) - if you do any side work - state taxes vary ALOT!! Honestly at our income level some ppl actually owe instead of getting refunds, especially if withholding isnt set right. My friend makes 98k and had to pay $800 last april!

Great question and congrats on the promotion! I went through something similar when I jumped from 70k to 105k a couple years back. Here's what I learned the hard way: Your refund really depends on your withholding setup more than your salary. At 100k single with standard deduction, you're looking at roughly $16,290 in federal taxes owed for 2025. If your employer is withholding more than that from your paychecks throughout the year, you'll get a refund. Less than that, you'll owe. The tricky part with a mid-year salary increase is that your withholding might be calculated assuming you made 100k all year, when you actually made less. This could result in over-withholding and a bigger refund than expected. My advice: Pull up your most recent paystub and multiply your federal withholding by the number of pay periods left in the year. Add that to what's already been withheld year-to-date. Compare that total to your estimated tax liability and you'll have a rough idea of refund vs. owing. Don't stress too much - worst case you owe a bit and can adjust your W-4 for next year!

This is such a common confusion! I went through the same thing when I hit a decent jackpot last year. The key thing to understand is that the 24% withholding is just a down payment on your taxes, not your final tax rate. Here's what actually happens: All your gambling winnings get lumped in with your regular income (salary, wages, etc.) and taxed at whatever bracket that total puts you in. So if your regular income is $50K and you win $100K gambling, you're now looking at $150K total income, which would put a good chunk of those winnings in higher tax brackets. The casino withholding is designed to cover most people's tax liability, but if you're in higher brackets or have other income sources, you could definitely owe more at tax time. I'd recommend setting aside extra money beyond what they withhold, especially for large winnings. Maybe 35-40% total to be safe, depending on your situation and state taxes. Also keep detailed records of everything - winnings, losses, dates, locations. The IRS loves documentation when it comes to gambling income!

As someone who's dealt with gambling winnings for several years, I can confirm what others have said about the 24% being just withholding, not your final rate. But here's something I haven't seen mentioned yet - if you're a regular gambler, you might want to consider making quarterly estimated tax payments to avoid underpayment penalties. I learned this the hard way when I had a really good year at poker tournaments. Even though the casinos withheld 24%, my effective tax rate ended up being around 32% when combined with my other income. Since I didn't make estimated payments throughout the year, I got hit with underpayment penalties even though I paid the full amount owed when I filed. Now I set aside about 35% of any major winnings and make quarterly payments to the IRS. It's a bit of extra work, but it saves money in the long run and helps with cash flow management. Your tax professional can help calculate what you should be paying quarterly based on your expected annual gambling income. Also, don't forget about the kiddie tax implications if you're filing for dependents who might have gambling winnings - that's a whole other complication!

The $43,751.52 calculation seems off. I make exactly $60k in Oregon and my actual take-home after all taxes is $44,868. BUT that doesn't include my health insurance ($189/mo), 401k (5%), and HSA contribution. With those, my actual paycheck comes to $3,293/month. Pro tip: Ask for the benefits package details BEFORE accepting the offer. My salary seemed great until I realized the health insurance was way more expensive than my last job, which effectively made it a pay cut despite the higher number.

Your calculation does seem a bit low for $60k in Michigan. Based on the breakdown others have provided, you should be looking at closer to $47,000-$48,000 in take-home pay before any benefits deductions. Here's what might be throwing off your calculation: many online calculators don't properly account for the standard deduction ($13,850 for single filers in 2024), which significantly reduces your taxable income. They also sometimes include estimated state disability or other local taxes that may not apply to your situation. My recommendation would be to use the IRS withholding calculator on their official website (irs.gov) as your baseline, then cross-reference with your state's tax calculator. Once you get the job, your first few paystubs will tell you exactly where you stand, and you can always adjust your W-4 if needed. Also keep in mind that $60k gross with typical benefits (health insurance, 401k contribution, etc.) will bring your actual take-home down further than just the tax calculation alone.