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Bigtexguy42 · 10-10-2023, 01:11 AM

People use this these payment processors for all kinds of reasons. I've used it to send my kids money for college stuff which was way over the $600. I think real scrutiny would be at the gift tax levels (17k single 34k married giftors) which providers and studios would eclipse pretty quickly. Having 4 girls a day at 5 let's say customers a day, and I believe at one point the studio girls were paying a $100 house fee per visit and pocketing the rest. So 2k per day at what let's say 350 days a year. 700k? Someone might want to look into that. The IRS hired a shit ton of new agents, and it wasn't to just go after political opponents, but to the little guys and girls. Covid bunnies playing on snapchat and onlyfans are going to be wishing they could've done cash only I think.

Chung Tran · 10-10-2023, 01:32 AM

Quote:

Originally Posted by Bigtexguy42

I think real scrutiny would be at the gift tax levels (17k single 34k married giftors) which providers and studios would eclipse pretty quickly.

There would not be scrutiny. Because no tax would be due until the sum total of all payments to an Individual above that $17K annually exceeds $12.92 million.

Bigtexguy42 · 10-10-2023, 08:22 AM

Quote:

Originally Posted by Chung Tran

There would not be scrutiny. Because no tax would be due until the sum total of all payments to an Individual above that $17K annually exceeds $12.92 million.

I don't get your reasoning. $12.92?

Chung Tran · 10-10-2023, 08:38 AM

Quote:

Originally Posted by Bigtexguy42

I don't get your reasoning. $12.92?

Second paragraph..

https://www.morganlewis.com/pubs/202...r%20gift%20tax.