OnlyFans star reveals the staggering amount of tax she has to pay as a result of her successful career
An OnlyFans model has shared the enormous amount of tax that she pays on her earnings from the platform.
While the average earnings from OnlyFans might be just over a hundred dollars a month, a small number of accounts go on to see a staggering income.
Many of these accounts belong to people who are already celebrities, meaning that there's an audience out there willing to pay for their account.
But among the few people to have built up an enormous income from OnlyFans is Skylar Mae, who rakes in millions from the platform.
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Skylar, 21, gave some insight into just how much she earns from OnlyFans by revealing how much she pays in tax.
It might not be the first thing that many people think of when they think of OnlyFans, but income is income, and in Skylar's case there's a lot of it.
Skylar revealed that her tax bill alone runs into millions of dollars.
“I had a tax bill of $3.6 million," she said. "I think everyone forgets we pay taxes just like everyone else. People also seem to forget that the more you earn, the more tax you pay."
She explained: "So in the case of all these OnlyFans stars who are making millions, they would pay a really high amount of tax, and what they actually take home compared to the earnings they show online would be hugely different.
She added: "In my case I’m paying more than five times the average person's yearly salary just in tax a month.”
Skylar revealed that she had a sharp learning curve when her account first took off, as she made a mistake many people make when starting out as a self-employed person - not putting money aside for their taxes.
"When my first tax season came around and I didn't plan or save for it, my accounts were completely drained," she said.
"I kind of just blew it off, and was just super immature about it. After that I ended up hiring a better CPA who taught me all the strategies behind managing my taxes and how to stay on top of it and avoid interest."
Now, Skylar said that her income means that she thinks of herself as the chief financial officer of a multi-million dollar company, which given her enormous income is not untrue.
“I really am like any CFO of a multi million dollar company,” she said. “I handle wires, all the accounting on my end of the business, and I just rely on my CPA to let me know how much I owe for each quarter of the tax season.
"I deal with the same hurdles that a CFO does, and my business does the same write offs as a ‘normal’ successful business."
The model explained that she is also trying to diversify, studying how to trade stocks with her income to help secure her future.
Skylar revealed that she has been on quite the learning curve with her taxes, saying: “It's probably taken me two or three years to really create this system."
She added: "I now have a spreadsheet where I color-coordinate everything and make it super organized.
"It definitely took me a while to figure out how to be more organized, because before, I was like, 'Okay, I'm making a million a month. I need to put pretty much 50% of it away for taxes, and I need to put this amount in savings.'
"Overall, I'm just trying to be smarter with money and not so willing to spend, spend, spend."
Sounds like a good problem to have!
Kit Roberts