Do Sugar Babies Pay Taxes. The average amount spent on an SB in the USA for a more serious relationship and most couples dont appear to have a specific limit to the number of times they meet. The Ls are a token amount that satisfy the money-based kink within the fantasy.
If the gross receipts exceed minimun threshold amount of Rs250000 in a financial year then you are liable to pay tax on that exceeding amount. For example it would be nice of you make a present on the first date which would cost around 50. Lots of trouble in the event that the sugar baby loses it.
If I do have to pay taxes how much should I be taking out of my allowance for taxes.
Be sure to keep track of your income and your expenses like any other business owner would do so you can give that information to your CPA at the end of the year to get your taxes done. The average amount spent on an SB in the USA for a more serious relationship and most couples dont appear to have a specific limit to the number of times they meet. I recently became a Sugar Baby and I recieve 2-3k a month for rent and other expenses. As sugar daddy is not particularly included in the definition of Relation as per income tax act of India 1961 section 21.