Ladies,

I am seeking advice. I have been in the biz for less than 1.5 years.
After paying of the debt and controlling my spending, I have started saving.
Well, I have funneled the money through Roth IRA's, 401(k), 529 Accounts, Savings Accounts and Vacation Clubs.
What I want to do is start to save even more.

I figured on I will start paying taxes on this money so IRS won't question me (even though I work full time during the day too.)

My question is how many ladies pay their taxes on the money they are making and what job title do you use when filing the Federal & State tax returns?

I need to start moving forward on this immediately.

Thanks for all advice given, Shaye

email addy incase you don't want to put anything on the boards. [email protected]

Let me start off by saying that I am neither a provider not am I giving you professional advice.  Having said that, I think it is perfectly OK to put your night and weekend job on the IRS forms.  I don't think that information is shared on an interagency level.  The IRS just wants its money.  However, I can see how you're in a difficult position because what you do is not considered socially acceptable (although I find it perfectly acceptable).

Smart girl you are for considering paying taxes.

Penalties for Tax evasion are worse than providing (also, Federal Courts and prisons).  Although I'm not a lawyer, I've been involved in a racketeering case involving bribery.  The bad guys got stiffer penalties for not paying taxes on bribes than for being corrupt.

I've used CPA's to do my taxes for years and years. Apparently, escorts pay their taxes because both of my CPAs have clients in the biz. Don't be surprised, in other words, if the CPA you choose doesn't bat an eye.

The irony would be thick if the same CPA has both escorts and Vice LE as clients. 8-) But then again, LE don't earn enough to use a CPA, and they probably don't declare their graft.

consultant---if you're ever audited they routinely ask for all your bank and savings statements so it is wise to realize your existing job might not support you being able to have all your investments.  I have a CPA who does mine.  I do receive 1099's from some of my clients once they get over the initial shock that I encourage them to send me one.  This only flies for the self-employed.  I have a dba on file along with a business license as a consultant. As far as I'm concerned this is a professional business and handle the financial side of it with due diligence in case I am ever audited I can prove my deductions  and clarify all income and what isn't income. It is difficult to make major purchases without a income tax return.

That's how they got Al.  Not for robbery, but for not paying his taxes.