Properly Paying Your Employees
If your OnlyFans account is growing quickly, you may need workers to help run your business. By outsourcing to new hires, you’ll be able to spend your time focusing on making and improving your content. Some tasks you might want to outsource are:
- Selling PPVs
- Video editing
- Chatting/Responding to messages
- Booking collaborations
- General personal assistant
However, there are a couple things to remember when hiring. Just like any other business in the USA, you’ll need to make sure your workers are paid by the books, and that means properly withholding income tax, paying local and state payroll taxes, and properly bookkeeping all your salaries paid out.
Disclaimer: This article is for informational purposes only and does not constitute tax, legal, or professional advice. Always consult with a qualified tax professional for advice specific to your situation.
The Easy Way Out: Just Pay for Digital Payroll Software
Before we go any further, there is an option to simply pay a monthly subscription for software such as Gusto or QuickBooks Payroll. Most companies don’t bother with the nitty gritty of doing payroll themselves, as it can get complex very quickly. These software suites allow you to add new employees and contractors easily, and automatically run payroll for them on a biweekly or monthly basis.
Hiring a Contractor May Be Easier
When you pay people to do work for your OnlyFans business, you have two options: you can give them a formal employment contract and make them a full-time or part-time employee (W-2 employee), or you can pay them as an independent contractor (1099 contractor).
Hiring an independent contractor is simpler. Before they start working, you’ll have them fill out a W-9 form, which provides you with their taxpayer information. Independent contractors are responsible for calculating and paying their own taxes.
Hiring Employees
When you decide to hire employees rather than contractors, you take on additional responsibilities as an employer. Here’s a breakdown of what you need to consider:
- Tax Withholding
- Employer Taxes
- Payroll Schedule
- Record Keeping
- Reporting Requirements
- New Hire Reporting
- Workers’ Compensation
The Upside? Provide your Employees With Benefits
While hiring employees comes with additional responsibilities and costs, it also offers significant advantages. One major upside is the ability to provide your employees with benefits, which can help attract and retain top talent for your OnlyFans business.
Conclusion: Navigating Payroll as a Solo OnlyFans Creator
At a certain point in your OnlyFans business, you’ll need to bring on workers and delegate away tasks that you don’t enjoy or aren’t great at. To do this, you’ll need to know how to hire, and how to follow all the laws and regulations concerning independent contractors or employees. The easiest way to do this is with software, but if you end up hiring a bookkeeping professional to do it for you, ensure that they’re catching all the state and local laws concerning your workers and their residency.