The fine folks at Midwest Striptease of all places, yes, that's correct, strippers, had some questions about their bookkeeping situation. They run a nationwide talent agency (actually two, check out their other stripper for hire site) for both male and female strippers in cities like Orange Beach , West Palm Beach, and Miramar Beach and sometime deal in cash as you can imagine is quite common in this industry. Most dancers are, nonetheless, self-employed and therefore considered independent contractors by the IRS. They earn by cash and non-cash tips which are subject to income taxes.
These tips can be harder to keep track of compared to having check payments or direct bank deposits that are associated with a salary or wage. We look forward to assisting them going forward.
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