Selling feet pics online is all fun and games until we come to the topic of FeetFinder and taxes. Nobody likes paying taxes on the money they worked so hard to earn – even if selling feet pics isn’t the hardest job in the world; you still don’t want to answer to Uncle Sam.
Unfortunately, when you earn money with this side hustle, you will have to pay taxes each year. It’s one of the ways to legally sell feet pics.
If you are new to selling your feet pictures or working for yourself, you probably have a lot of questions about filing your taxes and claiming your income. This is the next step after learning how much to charge for your feet pics.
As someone who has had multiple side hustles and has been selling feet pics online for about a year now, I’m going to share everything there is to know about selling on FeetFinder and taxes that come with it.
This tax guide is for those women selling feet pics in the United States as a resident, citizen, or business. Tax laws vary between countries, so it’s important to check your local laws.
When Do You Have to Pay Taxes Selling Feet Pics?
The first thing you need to know is that if you earn more than $600 per year selling feet pictures, you will have to pay taxes on that income.
This means that if you’re only selling a few pictures here and there, it’s unlikely you’ll have to worry about taxes. But if you’re making a significant amount of money selling feet pictures, it’s important to be aware of your tax obligations.
Depending on how much you’re making selling feet pics, you may have to pay taxes every quarter or just once a year on April 15th. If you’re making a sizable income, then the IRS may request that you pay taxes quarterly on your estimated earnings for that year.
Do I Have to Claim the Money I Earn Selling Feet Pics?
Yes, you do have to claim the money you earn selling feet pictures on your taxes. The IRS considers this income, and you’re required to report it.
Failure to report it could result in fines or penalties. You don’t want to owe more taxes than you already do because you don’t want to claim the money earned from this easy side hustle.
How Do I File My Taxes Making Money From Selling Feet Pics?
When it comes to filing your taxes, it’s important to understand how the IRS views people who sell feet pictures online.
The IRS considers people who sell feet pictures to be self-employed, which means you’ll need to file a Schedule C (Form 1040) to report your income and expenses. This is the same form that people who run small businesses file.
How Does the IRS Classify Feet Pic Sellers Classified?
The IRS classifies people who sell feet pictures as independent contractors. This means that you’re considered self-employed, and you’ll need to pay self-employment taxes.
Self-employment taxes include Social Security and Medicare taxes, usually withheld from your paycheck by an employer. But since you’re self-employed, you must pay these taxes yourself when it comes time to file your annual tax return.
How Much Tax Will I Owe Selling My Foot Pictures?
The amount of tax you’ll owe when selling your feet pictures will depend on how much money you make.
If you make less than $600 per year, you probably won’t owe any taxes. But if you make more than $600, you’ll need to report your income to the IRS and pay taxes on it.
The self-employment tax rate for 2021 is 15.3% of your net income. This includes 12.4% for Social Security and 2.9% for Medicare.
You’ll also need to pay income taxes on your earnings. The tax rate will depend on how much money you make and your tax filing status.
If you want to get a clear number for how much you’ll owe for your income on FeetFinder and taxes, I recommend connecting with a professional tax accountant.
How to Reduce the Taxes You Owe Selling Feet Pics
There are a few ways to reduce the amount of taxes you owe when selling your feet pictures.
One way is to claim business expenses. These are necessary expenses for running your feet picture business, such as the cost of taking and editing the pictures, membership fees, and marketing expenses.
It’s important to keep a record of everything you spend on things related to being a Feetfinder seller. You can invest in accounting software, like QuickBooks, or keep a simple spreadsheet.
Remember that you’ll have to keep a copy of your receipts as well.
FeetFinder and Taxes: Feet Pic Selling Business Expenses You Can Deduct
There are quite a few business expenses that you can deduct from your taxable income when you sell feet pics.
Some of the most common expenses include:
- Camera and production equipment
- Photo or video editing software or apps
- Website hosting if you own a blog
- Accessories like socks and ankle bracelets used in your content
- Pedicures and foot care
- Shoes used in your content
- Travel expenses for work
- Professional photo shoots
- Platform membership fees
For example, when dealing with FeetFinder and taxes, you can deduct the FeetFinder premium membership you pay either monthly or annually. This is considered a business expense because you need it to access the platform where you sell your foot content.
The more you spend on your business, the less you’ll owe in taxes.
It’s important to remember, though, that you should be considered profitable in your feet pic selling business. So, you want to be strategic about what you do and do not write off. If the government sees that you are not profitable for a couple of years, they could claim that your business is a hobby and limit you from writing off expenses.
Keep Track of Everything
Remember, when you start selling feet pics, you start a side hustle business. This means you have to treat it like a business.
So, when it comes to expensing pedicures or work travel to your business, you must keep track of what you spend. Additionally, you should keep track of what you earn as well.
You can do this in a simple Excel or Google Sheets file or use a professional accounting software. Keeping track of your expenses and income will help you make more money and analyze what is worth spending money on and what is not.
Should You Open an LLC When Selling Feet Pics Online?
Another way to reduce the taxes you owe is by setting up an LLC (Limited Liability Company). An LLC is a business structure that separates your personal assets from your business assets.
This means that if someone sues your business, they can’t go after your personal assets like your house or car.
Business-savvy women who sell feet pics and earn thousands a month from their content often choose to open an LLC. It’s easy to do. In just minutes, you can open an LLC online.
Benefits of Having an LLC
There are several benefits to having an LLC, including:
- Protection of your personal assets
- Separation of your personal and business finances
- Potential tax savings
- Professionalism and credibility
If you are serious about selling feet pics online and want to make a legit side hustle out of it, then you may want to consider opening an LLC.
Where to Accept Payment for Your Feet Pictures
When it comes to getting paid for your feet pictures, there are a few options available. Many feet pic sellers choose to use third-party apps to anonymously collect payments from buyers.
It’s important to note that these third-party apps are obligated to report earnings of more than $600 to the IRS. So, you absolutely must claim the income earned from selling feet pictures to avoid trouble.
PayPal is one of the most widely used payment methods for online transactions. It’s easy to set up, and it’s free for buyers to use. You will have to sacrifice a 3% commission when getting paid, but you can use this fee as a business expense.
Cash App is a mobile payment service that allows you to send and receive money. It’s free to use, and it’s also easy to set up. Cash App is perfect for women who want to sell feet pics without showing their faces and stay anonymous.
Venmo is a mobile payment app that’s similar to Cash App. It’s free to use, and it’s also easy to set up. It is a little less private than Cash App, but is still a viable option for receiving payments.
Starting in 2024, Venmo will begin sending 1099 tax forms to users who use the app for business. If you thought you could bypass paying taxes by accepting payment on Venmo – think again! They are in direct contact with the IRS about the money you receive on the app.
Feet Pic Selling Platforms
The easiest way to get paid for your content and avoid getting scammed while selling feet pics is to use a dedicated platform like FeetFinder. Clients will purchase your pictures directly through the platform rather than through social media.
Using a legit website like FeetFinder keeps your earnings safe and anonymous. Plus, FeetFinder will make sure that you’re keeping your feet pictures legal by paying taxes each year because they have to report the income to the IRS. Honestly, when you use FeetFinder and taxes are due, it’s easy to get a report from them to show to your accountant.
Of course, there are other websites where you can sell feet pics, but FeetFinder is the one that I prefer to use.
Start Earning $2k per Week Selling Feet Pics Online
Now that FeetFinder and taxes don’t seem as intimidating as you may have thought, are you ready to commit to selling feet pics and start earning thousands of dollars per week?
With the help of an expert (me!) and a community of like-minded girls earning passive income online, you can’t go wrong.
Join my newsletter for weekly advice and secrets, and I’ll send you my FREE guide, The Feet Pic Bible: How to Earn $2k per Week Selling Feet Pics Without Showing Your Face.