Dont live with parents, dependent ;taxes and concealing my naughty job

[Spacecadet_]

I found some similar threads but no one in my same situation...
So my parents are adamant about claiming me as a dependent for 2017 because they paid for my school tuition, cell phone bill, and im on their insurance. Understandable. However i live on my own and pay my own rent, and have asked if i can just file my own taxes instead of parents helping me. Obviously im not gonna get a tax form sent to my parents' house from MFC; but will they find out about my cam job some other way when they do their taxes? Since I was their dependent last year? Be as specific as you can. Will something about MFCXY show up somewhere? Or MyFreeCams? *shudder*

 

[SaffronBurke]

In order to claim someone as a dependent, you have to provide at least half of their total support this year. Since you're paying your own rent, they probably can't claim you.

 

[Spacecadet_]

In order to claim someone as a dependent, you have to provide at least half of their total support this year. Since you're paying your own rent, they probably can't claim you.

They probably provided about half. I pay rent and food, utilities, gas, misc items. I was on their phone plan, car and health insurance. And they paid whatever tuition wasnt covered by my scholarship. If you add it all up they really might have a right to claim me. I also think if its around 50% though, i could probably claim myself as independent just as easily, right?

 

[KylieJacobs]

Did you earn twice as much as they paid for your expenses?

 

[SMuser69]

Them claiming you as a dependent just means you CAN NOT accept any deductions on your tax returns. They can claim you as a dependent forever so long as you never take a tax deduction while you file your taxes. This will cost YOU in the long run because you're forcing yourself to pay the full rate in your tax bracket. Example let's put you at $46k a year. which would put you in the 33% tax bracket. Without accepting deductions you're paying about $15k to the government in taxes. If you took any student type or common deductions it would probally drop down to $11k. So the question is it ok for you to lose $4k because you parents want to claim you. Considering the most they'll probably save claiming you is around $2k.

This is only taking into consideration federal taxes nothing state/local and ball parking.

Just to be devil's advocate about this. If you marry you best friend and joint file assuming you both make the same you'll BOTH save about $8k each.

 

[Teagan]

Just to be devil's advocate about this. If you marry you best friend and joint file assuming you both make the same you'll BOTH save about $8k each.

Don't do this.

Really you have to discuss with them what is going to happen. If they are going to file you as a dependent or not though they won't see what you put on your own tax forms if you don't show to them to them. They don't get copies from anyone.

 

[Spacecadet_]

Thanks everyone

 

[Deleted member 37064]

Don't do this.

Really you have to discuss with them what is going to happen. If they are going to file you as a dependent or not though they won't see what you put on your own tax forms if you don't show to them to them. They don't get copies from anyone.

Agreed with the not marrying...

As to the claiming, I don't think they see your income. It's just a check box on yours saying that someone else has claimed you. Something to think about in the long run is if you make enough to cover your living expenses, and your tuition, why not do so then you have nothing to worry about if they find out from a 1099. Might be worthwhile to figure the math out, and let them claim you for the 2017 year as the agreement is. But, then you take over all expenses for 2018 and show them you've got it and can support yourself.

 

[HiGirlsRHot]

I won't sweat this year, as has been said. Just be extra careful to not take yourself as a dependent. Most of the tax software like TurboTax assumes that you'll claim yourself, so you'll to have pay attention when using the software. Thinking back, I bet the year I graduated my parents took me as dependent and the IRS didn't catch it. If you screw up really that worse that is you'll owe many hundreds (but not thousands) of dollars to IRS.

However, it is worthwhile to tell your parents that you think later this year, you may earn enough that we won't be able to claim you as a deduction, in 2018. If you want to keep it real vague say it is something you saw on the internet because of the new tax law. Then before April 2019 figure out the numbers.

 

[LylacDoll]

They can claim you as a dependent forever so long as you never take a tax deduction while you file your taxes.

That's not how that works. You can't claim someone as a dependent unless they depend upon you, as defined in the tax code. Also, if you've lived on your own for more than half the year, if I understand correctly, they can not claim you as a dependent regardless of financial support (source: https://apps.irs.gov/app/understandingTaxes/hows/tax_tutorials/mod04/tt_mod04_01.jsp).

 

[Starman]

Overall, it is better for them to claim you as a dependent because they are (probably) in a higher tax bracket and need the deduction. You probably do not itemize, anyway. They will not see your tax return, unless they ask to see it for some reason. The IRS will not share your tax return with them.

 

[DejaElectra]

Like others said, it's iffy if they even can claim you but parents will be parents and if it benefits them they are going to do it, at least mine did.

The last year my parents claimed me I wasn't "out" yet, so I was nervous as all hell so I feel you. My 1099 from MFC did say MFCXY which isn't too obvious, but a quick google search will connect the dots. My parents luckily ended up filing using TurboTax that year so I just asked if I could input all the data and send it off myself with them still claiming me. I don't think they ever even saw my 1099s or my tax returns since I took my copy and locked it up with my other important files. I was really vague about my job (you do not have to put "camgirl/web cam model") and it didn't seem to raise any red flags.

If they are going to see someone just be kinda vague about your job and tell them you're just a model or internet entertainer, you don't have to write "Pro Boobie Show-er" on your taxes and write-offs aren't usually itemized when you're just an independent contractor with low business expenses, so they don't have to see your dildo write-offs (claim they are props if someone asks) Unless they are really nosey and google MFCXY they probably won't know or care who you're working for.

Just remember, someday they'll find out and it's better to tell them yourself than to have them find out some other way.

 

[JickyJuly]

If they're paying a number of your bills and your tuition, they deserve to know if they won't be able to claim you or that school money. You don't have to tell them what you do, but you should have told them when you took on a job. That way, you all could have planned for whose name should have been on the tuition checks etc. I'd tell them.

 

[Smores]

I found some similar threads but no one in my same situation...
So my parents are adamant about claiming me as a dependent for 2017 because they paid for my school tuition, cell phone bill, and im on their insurance. Understandable. However i live on my own and pay my own rent, and have asked if i can just file my own taxes instead of parents helping me. Obviously im not gonna get a tax form sent to my parents' house from MFC; but will they find out about my cam job some other way when they do their taxes? Since I was their dependent last year? Be as specific as you can. Will something about MFCXY show up somewhere? Or MyFreeCams? *shudder*

To claim you as a dependent you cannot have a gross yearly income over $4,050. Since you pay your own rent, and rent is presumably more than $338/month ($4050/12), presumably you had more than $4,050 of gross income. So legally they cannot claim you.

But if you had any business income at all, you want to be able to claim business deductions against that income. And your deductions are limited if they claim you as a dependent. So even if they could claim you as a dependent, it wouldn't be a great idea for someone who is self employed.

 

[thedozer50]

Posted about this on the general section. Being married(newly), is there a way to sneak around this without my wife knowing. I retired and wanted the extra money. Can’t really stomach it anymore.

Obviously don’t want her to know to save her from any issues. Should I file for my own? Will she know? Etc

 

[LylacDoll]

Posted about this on the general section. Being married(newly), is there a way to sneak around this without my wife knowing. I retired and wanted the extra money. Can’t really stomach it anymore.

Obviously don’t want her to know to save her from any issues. Should I file for my own? Will she know? Etc

You're gonna have a lot more problems than filing taxes if you try to cam behind your wife's back. It's not something I feel like a person can do under the same roof as someone else and not have them know about it. She will find out, especially if you're camming enough to actually make real money because it's quite time consuming.

 

[SaffronBurke]

Posted about this on the general section. Being married(newly), is there a way to sneak around this without my wife knowing. I retired and wanted the extra money. Can’t really stomach it anymore.

Obviously don’t want her to know to save her from any issues. Should I file for my own? Will she know? Etc

If you have to hide camming from your spouse, you need to either stop camming or leave said spouse. Which is more important to keep?

 

[Spacecadet_]

Overall, it is better for them to claim you as a dependent because they are (probably) in a higher tax bracket and need the deduction. You probably do not itemize, anyway. They will not see your tax return, unless they ask to see it for some reason. The IRS will not share your tax return with them.

Yeah. They are basically saying that they will lose SOO much money if they don't claim me. More than I would save if I claimed myself.

If they're paying a number of your bills and your tuition, they deserve to know if they won't be able to claim you or that school money. You don't have to tell them what you do, but you should have told them when you took on a job. That way, you all could have planned for whose name should have been on the tuition checks etc. I'd tell them.

I have 2 jobs, a part time job and camming. They know about all of my income, I just lied about what kind of online work I do and was hoping they wouldn't see the company name on any tax forms

 

[Teagan]

You do get a lot of money for claiming a dependent. But no they won't see who you work for unless you let them.

 

[Starman]

The only place MFC would appear on tax forms is on the 1099 misc income form MFC sends you, and that you include with your tax forms sent to the IRS. You don’t enter employers on your tax forms, only the income amounts. If you do your own taxes, your parents will never see that form, unless you show them. You’ll have your own copy of the 1099 for your records, but you can trash it or keep in a private place.

The only problem I can see is if your parents want to do your taxes for you, or ask to see them before you send them off. If that’s the case, you’re going to have to be clever. Tell them you’re missing one employer’s 1099, and you’ve requested a copy, but it will take awhile, but you DO have the income amount to enter on the tax forms. Say you’ll attach the 1099 yourself when it gets there and mail the return in. Or something.