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Advocacy on Capitol Hill – Talking With Congress About Banking Discrimination in Sex Work
May 18, 2023 | By Jessica Goedtel, CFP®
Last week I had the honor of participating in the Free Speech Coalition’s fly-in to Capitol Hill in DC. Our goal was to discuss with legislators the effects of banking discrimination in the legal sex work industry. The issue at hand. According to the Free Speech Coalition’s recent study, nearly two-thirds of people in the […]
Continue Reading →Tax Forms Guide for Tech Workers
February 27, 2023 | By Jessica Goedtel, CFP®
Tax season is now upon us. Collecting tax documents can be a hassle, especially if you aren’t sure what you’re looking for. To save you some trouble, I’ve put together a quick guide on what to look for if you’re a tech worker with equity compensation. All tax documents are important, but some are more […]
Continue Reading →Putting the “S” in S-Corp – What Online Sex Workers Need to Know
February 7, 2023 | By Jessica Goedtel, CFP®
Let’s play two truths and a lie. “You need an S-Corp for your OnlyFans. It’ll save you money on taxes, plus you’ll get to deduct lots of expenses. It’s easy!” Truth: An S-Corp may save you money on taxes. Profits for S-Corps aren’t subject to self-employment taxes. You may have seen these before on a […]
Continue Reading →Free Financial Planning Sessions for Sex Workers
January 24, 2023 | By Jessica Goedtel, CFP®
I’m excited to announce the launch of my new pro-bono financial planning program for sex workers! I’m offering free one-hour planning sessions to sex workers looking for financial help. Your girl loves a good FAQ, so without further ado: Who can use this program? If you are a US-based sex worker and have money questions, […]
Continue Reading →New 1099-K Reporting Requirements – Questions & Answers
December 19, 2022 | By Jessica Goedtel, CFP®
UPDATE: As of 12/23/2022, the new 1099-K filing threshold is delayed until the 2023 filing year. In the past few weeks, you’ve seen headlines about new tax rules for reporting online payments over $600. While the form itself – Form 1099-K – isn’t new, the filing threshold has dropped from $20,000 to $600. What’s a […]
Continue Reading →I Got Laid Off. What Do I Do Next?
November 4, 2022 | By Jessica Goedtel, CFP®
First off, take a deep breath. Now take another one. Take a few more for good measure. No getting around it, layoffs suck. Even if it’s expected, it can be hard. On top of all the emotions involved, you have some decisions you will need to make. So what are your next steps? First, protect […]
Continue Reading →So My Bank Account Was Closed, Now What?
September 5, 2022 | By Jessica Goedtel, CFP®
Wells Fargo notified several sex workers this week their bank accounts would be closed. No definitive reason was given by the company. It’s likely accounts were marked for closure by transactions from legal online sex work platforms. Is this even legal? Unfortunately, yes. Read the agreement for your account carefully – most banks have the […]
Continue Reading →Bear Markets Q&A: Less fun than it sounds, and it doesn’t sound fun
June 16, 2022 | By Jessica Goedtel, CFP®
On Monday, June 14th, the S&P officially hit bear market territory. As of the day’s close, it had declined 21.8% from its high on January 3, 2022. So far, not a great start to the week. But what does that even mean, and how might it affect you? What is a bear market? A bear […]
Continue Reading →Why did the government take so much of my bonus?
March 23, 2022 | By Jessica Goedtel, CFP®
You got a bonus, woohoo! You’ve got big plans for this money, and want to make sure you know exactly how much you’re getting after taxes. You do the math using an old paycheck, figure your proceeds, maybe even round up for good measure. With a number firmly in hand, you start planning just how […]
Continue Reading →2022 IRS Contribution Updates
November 22, 2021 | By Jessica Goedtel, CFP®
On November 4th, 2022, the IRS announced its annual cost-of-living adjustments for contributing to retirement plans and other updates. Here are some of the highlights: 401k, 403(b), most 457 plans – annual contribution limit has been increased to $20,500 (from $19,500) Income phaseouts were updated for Roth IRA contributions Single/Head of household phaseout range $129,000 […]
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