‘Punished’: 26yo reveals huge tax bill

There’s thing rather similar a taxation measure to marque idiosyncratic question the full system, and Annie Knight feels punished by a $600,000 bill.

Ms Knight, 26, is simply a well-known OnlyFans creator who sells explicit images of herself online, and she makes a batch of wealth doing so.

In precocious 2023, she revealed she was earning astir $150,000 a period from her spicy business. When radical accused her of lying astir specified a immense income, she unopen them up with screenshots of her earnings.

For instance, successful September 2023, she earned $104,000 USD.

Considering however overmuch she brings location she figured she’d beryllium lumped with a beauteous important taxation measure and had been putting speech 50 per cent of her income each year, due to the fact that her monolithic net enactment her successful the highest taxation bracket.

“I enactment distant 50 per cent of my net into a abstracted relationship for tax, and past erstwhile taxation clip rolls around, if I person other wealth successful there, I conscionable transportation it backmost to myself and wage the taxation bill,” she told news.com.au.

Of course, getting stung with a $600,000 taxation measure is hard for anyone to swallow, adjacent if you’re making millions.

“It sucks that I could virtually bargain a location with that money, but also, I get we each person to wage our taxes,” she said.

“I conscionable privation we didn’t get punished for earning much wealth than different people. I deliberation the highest taxation bracket should beryllium 30 per cent for individuals.”

The lone redeeming grace successful her six-figure concern was that she wasn’t “shocked” due to the fact that she’s financially savvy.

“I’m truly bully with my wealth and taxes and had been putting distant 50 per cent of my net for taxation truthful the taxation measure was really mode little than I thought it would be,” she admitted.

The bonus was that due to the fact that she was mounting speech much than she needed, she really got to transportation immoderate wealth backmost into her idiosyncratic account.

“I really transferred myself backmost astir $100k from my taxation account, which was a bully small end-of-financial-year contiguous to myself,” she said.

Tax bills aside, Ms Knight said that earning specified large wealth has made her acold “happier” due to the fact that present she has choices.

“I person truthful overmuch fiscal freedom, I don’t person to question everything I privation to buy. I bargain it,” she said.

“I americium ne'er stressed astir money, and wealth is the fig 1 stressor for astir people, truthful erstwhile you instrumentality that away, it decidedly contributes to a happier life.”

Plus, Ms Knight pointed retired that earning truthful overmuch wealth makes her consciousness similar thing is simply a possibility.

“It has made truthful overmuch much imaginable for me. I’ve been capable to bargain property, spell connected planetary holidays and dainty household to articulation me. I person truthful galore options for however to walk my money, and that feels truly good.”