An OnlyFans creator must report all income from OnlyFans on their personal income tax return. Fortunately, as OnlyFans income is considered to be business income, you are also entitled to take deductions against this income, to reduce the overall amount of taxes that you’d need to pay.
For an expense to be deductible, it must be ordinary, necessary, and reasonable in carrying out the business in the year.
Common Tax-Write Offs for OnlyFans Creators
- OnlyFans Transaction Fees: the fees that OnlyFans deducts from your earnings are deductible against the gross earnings for tax purposes
- Clothing and Props: clothes, uniforms, costumes, and props purchased specifically for your OnlyFans content (lingerie, underwear, toys)
- Makeup and Beauty Products: products used exclusively for preparing yourself for your OnlyFans content may be fully deductible
- Computer/Laptop: a new computer or laptop purchased for the purpose of editing and posting OnlyFans content
- Camera and Equipment: a new camera purchased for recording your OnlyFans content, including peripherals such as lighting
- Travel: any costs associated with traveling for the purpose of creating OnlyFans content may be deductible, including flights and hotel costs
- Collaboration Costs: any costs you pay to other models who you collaborate with are deductible
- Video Editor Salary: if you pay a video editor to edit your videos, their salary is deductible against your income
- Gym Membership and Personal Training: a portion of your gym membership may be deductible if working out is integral to maintaining your OnlyFans image and business
- Rent: if you are renting a home or apartment, a portion of your rent may be tax deductible
- Business Use of Home Office: if you film inside your home, have a dedicated studio space, and/or use your home as a workspace to edit and upload your videos, you can claim a portion of all of the expenses that contribute to maintaining your house – including property taxes, heat, electricity, insurance, maintenance, and mortgage interest
- Office Expenses: any expenses incurred in the course of maintaining the business-side of your OnlyFans page are deductible – including pens, printer paper, and toner
- Internet: the costs you pay to your internet service provider (ISP) are deductible at the percentage used for your OnlyFans business
- Cell Phone Expenses: your cell phone bill is also deductible at the percentage used for your OnlyFans business
- Professional Fees: any fees associated with experts you’ve hired in the course of your OnlyFans business, either for consulting to help you get started or for a CPA you’ve hired to help with your taxes, are deductible
- Data Storage & Subscriptions: purchases of external hard drives or cloud storage subscriptions are deductible when used for the purpose of storing video footage; additionally, any ongoing subscriptions relevant to your OnlyFans channel, such as royalty-free music licensing services, are deductible
- Software: the purchase of professional video editing software used for OnlyFans may be completely deductible
We recommend you open a separate bank account to track your OnlyFans income and expenses to make tax time a bit easier.
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If you plan on claiming deductions against your OnlyFans income, ensure that you maintain receipts, invoices, and all relevant documentation for your expenses. You must be able to substantiate your expenses when asked by your tax authority.