Wednesday, July 24, 2024

I owed $400K in taxes for my OnlyFans — it feels like a punishment

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There’s nothing quite like a tax bill to make someone question the whole system, and Annie Knight feels punished by a $405,000 bill.

Knight, 26, is a well-known OnlyFans creator who sells explicit images of herself online, and she makes a lot of money doing so.

In late 2023, she revealed she was earning around $101,000 a month from her spicy business.

When people accused her of lying about such a huge income, she shut them up with screenshots of her earnings.

For instance, in September 2023, she earned $104,000.

Australian OnlyFans creator revealed that she had to pay $405,000 in taxes. Instagram / @anniekknight

Considering how much she brings home she figured she’d be lumped with a pretty significant tax bill and had been putting aside 50 percent of her income all year, because her massive earnings put her in the highest tax bracket.

“I put away 50 percent of my earnings into a separate account for tax, and then when tax time rolls around, if I have extra money in there, I just transfer it back to myself and pay the tax bill,” she told news.com.au.

Of course, getting stung with a $405,000 tax bill is hard for anyone to swallow, even if you’re making millions.

Knight said that the high tax bill felt like a punishment for earning money. Instagram / @anniekknight

“It sucks that I could literally buy a house with that money, but also, I get we all have to pay our taxes,” she said.

“I just wish we didn’t get punished for earning more money than other people. I think the highest tax bracket should be 30 percent for individuals.”

The only saving grace in her six-figure situation was that she wasn’t “shocked” because she’s financially savvy.

“I’m really good with my money and taxes and had been putting away 50 percent of my earnings for tax so the tax bill was actually way lower than I thought it would be,” she admitted.

The bonus was that because she was setting aside more than she needed, she actually got to transfer some money back into her personal account.

“I actually transferred myself back about $100k from my tax account, which was a nice little end-of-financial-year present to myself,” she said.

Tax bills aside, Knight said that earning such big money has made her far “happier” because now she has choices.

“I have so much financial freedom, I don’t have to question everything I want to buy. I buy it,” she said.

Knight revealed that she was making about $101,000 per month from her account in late 2023. Instagram / @anniekknight

“I am never stressed about money, and money is the number one stressor for most people, so once you take that away, it definitely contributes to a happier life.”

Plus, Knight pointed out that earning so much money makes her feel like anything is a possibility.

“It has made so much more possible for me. I’ve been able to buy property, go on international holidays and treat family to join me. I have so many options for how to spend my money, and that feels really good.”

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