In this article, you will learn what you need to know about legal protection for OnlyFans creators directly from an experienced Florida Lawyer. If you are an OnlyFans creator or are looking to become one, this article is for you. When you set up your OnlyFans account, it is essential to think of it as a business, which not many people do. When you create a business, there are legal implications you need to take into account. Companies need to protect themselves legally. So, read on to learn what you need to know about protecting your OnlyFans business.
Register Your Trademarks
One of the best ways to ensure your OnlyFans content is to register the logo or name you use in your post with the United States Patent and Trademark Office. This step is crucial. All content posted on your account should include your trademarked logo or name, as it makes it far more difficult for people to steal your content. And, if someone does steal your content, it will be far easier for you to stop them from continuing to use it without permission.
Set Up a Limited Liability Company
Another powerful way to legally protect your OnlyFans business is to create a Limited Liability Company (LLC). Limited Liability Companies can provide many benefits. First, registering your OnlyFans account as such a company will protect your personal assets by legally separating yourself from your OnlyFans business. Such separation means that if someone sues your LLC, the plaintiffs will not be able to go after your assets – they will only be able to go after your LLC’s assets. On the other hand, if you put your OnlyFans business under your name instead of under an LLC, your assets will be vulnerable. In addition, putting your OnlyFans business under an LLC comes with certain tax benefits.
Tax Structure
When you create an OnlyFans account, you do not become an employee of OnlyFans. Instead, you become a business owner. Thus, any income you make through OnlyFans will be subject to ordinary tax and self-employment tax, which is currently set at 15.3%. There are, however, several options for how you can declare your income made through OnlyFans.
You can file as a sole proprietorship. Thus, you can deduct any expenses incurred that are essential to your OnlyFans business. Filing as a sole proprietorship subjects your income to self-employment taxes as well as federal income taxes.
As mentioned above, setting up an LLC for your OnlyFans business comes with certain tax benefits. The main one is “pass-through” taxation. This taxation essentially means that the earnings from your LLC go directly to you, and you do not have to pay corporate federal income taxes before that happens. In other words, you pay taxes as an individual, and there is no double taxation. In addition to this, LLCs typically have more flexibility when filing taxes, as they can choose to file taxes either as an S Corporation or as a sole proprietorship.
Filing taxes as an S Corporation also has certain benefits. If you choose this route, you will not need to pay the self-employment tax. Instead, you will only pay the 7.65% tax to which you would be subject as any employee.
Legal Protection for OnlyFans Creators
Whether you already have an OnlyFans account or are considering creating one, you are now probably wondering if you will need a lawyer. While you can do certain things yourself, protecting your OnlyFans business, registering your trademarks, and setting up an LLC, require someone with knowledge and experience. It is astonishingly easy to make mistakes. So, if you are considering starting an OnlyFans business, you should consider hiring an experienced Business Lawyer.
Contact Attorney Romy B. Jurado Esq. today by calling (305) 921-0976 or by emailing [email protected].
