{"id":11737,"date":"2023-03-08T08:45:00","date_gmt":"2023-03-08T08:45:00","guid":{"rendered":"https:\/\/juradolawfirm.com\/?p=11737"},"modified":"2023-02-22T15:29:54","modified_gmt":"2023-02-22T15:29:54","slug":"should-i-start-an-llc-for-my-onlyfans","status":"publish","type":"post","link":"https:\/\/juradolawfirm.com\/should-i-start-an-llc-for-my-onlyfans\/","title":{"rendered":"Should I Start an LLC for My OnlyFans?"},"content":{"rendered":"\n

Account holders on OnlyFans are always exposed to vulnerability and uncertainty due to the intimate nature of the content posted on the platform. Ultimately, limited liability protection<\/a> can be the difference between a peaceful easy feeling and unwanted headaches.\u00a0\u00a0<\/p>\n\n\n\n

In this article, you will discover the reasons to put an OnlyFans account under a limited liability company<\/a> (LLC).\u00a0<\/p>\n\n\n\n

Are Limited Liability Companies the Best Business Structure for OnlyFans Content Creators? <\/h2>\n\n\n\n

When an individual start producing content and sharing it online through an OnlyFans account, the content creator is not treated as one of the platform’s employees. Instead, the tax treatment is similar to that applied to a standard business owner.  <\/p>\n\n\n\n

If you rely on OnlyFans as your main source of income or an additional source of money, registering the account under the structure of a Limited Liability Company (LLC) is an excellent option. <\/p>\n\n\n\n

Similar to corporations, LLC owners (also referred to as “members”) enjoy protection against most business liabilities. <\/p>\n\n\n\n

Hence, the owner’s personal assets are not subject to liability if a creditor or judgment seeks to collect money from the business. Similarly, lawsuits filed against the business do not affect the owner directly.  <\/p>\n\n\n\n

For example, if someone sues an OnlyFans account but the account is registered as an LLC, the company itself must respond to the alleged claims. <\/p>\n\n\n\n

Should I Start an LLC for My OnlyFans? – Tax Implications  <\/h2>\n\n\n\n

Many content creators on OnlyFans prefer to file their tax returns as sole proprietorships. In such cases, they are subject to both federal income taxes and self-employment taxes. Setting up an LLC for an OnlyFans account allows content creators to enjoy additional tax benefits. <\/p>\n\n\n\n

The income generated by LLCs is not subject to double taxation, which means OnlyFans accounts do not incur both federal income taxes and self-employment taxes. Instead, all the income passes through the LLC to the owner’s account, which must file tax returns only on the individual level.  <\/p>\n\n\n\n

Depending on the circumstances, an OnlyFans content creator<\/a> can decide to file tax returns either as a sole proprietorship or an S-corporation (pass-through taxation).\u00a0<\/p>\n\n\n\n

With very few exceptions, the best approach is to opt for S-corp<\/a> status for tax purposes. This way, it is possible not to apply the self-employment tax and only pay a reduced tax percentage as any other employee would.\u00a0<\/p>\n\n\n\n

OnlyFans vs. LLC Protection – Additional Benefits  <\/h2>\n\n\n\n

In addition to limited liability and tax benefits, setting an LLC for an OnlyFans account guarantees the owner’s privacy. Having fans on OnlyFans is a positive thing but maintaining one’s confidentiality is fundamental.  <\/p>\n\n\n\n

When filing the registration forms required to form an LLC, it is possible to form an “anonymous” business structure<\/a> with a fictitious name and the minimum amount of personal information.\u00a0<\/p>\n\n\n\n

An LLC must have an appropriate business name as required by the applicable state laws. Another crucial step is to apply for an Employment Identification Number (EIN) with the Internal Revenue Service (IRS).  <\/p>\n\n\n\n

This number is used to identify the company for tax purposes. Opening an LLC bank account also requires a valid EIN. It is important not to commingle business assets with personal assets, which requires a business checking account. <\/p>\n\n\n\n

Do You Want to Start an LLC for an OnlyFans Account? – Immediately Seek Expert Legal Guidance <\/h2>\n\n\n\n

A well-versed legal advisor in intellectual property<\/a> and business law<\/a>, Attorney Romy B. Jurado<\/a> willingly wants to help protect your interests on OnlyFans. Contact us by calling (305) 921-0976<\/a> or emailing Romy@juradolawfirm.com<\/a> to schedule a consultation.<\/p>\n","protected":false},"excerpt":{"rendered":"

Account holders on OnlyFans are always exposed to vulnerability and uncertainty due to the…<\/p>\n","protected":false},"author":1,"featured_media":11741,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"Should I start an LLC for my OnlyFans account? Click here to discover. For legal guidance, contact Attorney Romy B. 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