Finances Uncovered: Empowering OnlyFans Creators with Expert Accountancy
Download MP3Blake Oliver is joined by Katherine Studley and Jim Swiech, the founders of Prisma Tax Group. Katherine and Jim specialize in helping OnlyFans creators and sex workers with their accounting and tax needs. They discuss the unique challenges facing these clients, as well as the common misconceptions and stereotypes surrounding the industry. Katherine shares how she built her business through TikTok and Instagram, and Jim explains how their pricing structure and hiring practices have contributed to their success. Tune in to learn more about this fascinating and underserved niche in the accounting world.
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Sponsor
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Sign up to get free CPE for listening to this podcast
https://earmarkcpe.com
Download the Earmark CPE App
Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app
Chapters
Chapters
- (00:00) - Preview: Everyone deserves judgment-free financial representation
- (01:10) - Earn Free CPE
- (01:30) - Welcome Katherine to the show
- (02:36) - Background on Jim
- (04:11) - Who are your clients? Are they all OnlyFans creators?
- (05:08) - Chapter 6
- (08:20) - Do you see sex workers being discriminated against in audits?
- (13:29) - What deductions should OnlyFans creators be taking?
- (14:32) - What are the biggest challenges you face working with OnlyFans creators?
- (16:12) - How do you make 1040s work?
- (18:01) - Where are you finding talent, and how are you training them?
- (21:44) - What was the biggest lift to get ClickUp to work for your firm?
- (22:52) - How do you like ProConnect compared to other software you've used in the past?
- (27:12) - What other apps do you use or recommend?
- (31:13) - Chapter 15
- (32:22) - How do your clients get into this line of work?
- (35:04) - What type of income are your clients making from this?
- (37:34) - Are you worried about TikTok potentially getting banned in the U.S?
- (41:04) - Why do banks or payment processors give OnlyFans creators such a hard time?
- (42:04) - Give us a sense of the size of the industry
- (44:47) - What are some tips on creating content that appeals to your target audience
- (47:52) - Human-trafficking and sex-trafficking training
- (52:26) - Wrap up and where to reach Katherine or learn more
Connect with Our Guests
Katherine Studley:
LinkedIn: https://www.linkedin.com/in/katherine-studley
Twitter: https://twitter.com/theonlyconsult
Facebook: https://www.facebook.com/katherine.studley
Instagram: https://www.instagram.com/the_only_consultant
TikTok: https://www.tiktok.com/@the_only_consultant
Jim Swiech
LinkedIn: https://www.linkedin.com/in/james-swiech-cpa-b9334420/
Learn more about Prisma Tax Group
https://www.prismatax.com/
Connect with Blake Oliver, CPA
LinkedIn: https://www.linkedin.com/in/blaketoliver
Twitter: https://twitter.com/blaketoliver/
Creators and Guests
Guest
Jim Swiech
I’m on a mission to change the face of the accounting industry. That’s why after many years of being a CPA at a traditional accounting firm, I decided to create my own. As the co-founder of Prisma Tax Group, I’m building a destination for clients and employees alike, correcting all the things I hate about public accounting (and all the things you hate about it too). Through a culture of collaboration, innovation, and empowerment, we offer fresh perspectives and cutting-edge strategies to help you succeed. When I’m not working, I find joy in spending quality time with my family, exploring new destinations, cooking up delicious meals, and playing guitar. Let’s connect and take control of your financial future.
Guest
Katherine Studley
I'm Katherine, a tax accountant and a fellow content creator. I'm originally from Buffalo, NY, and I graduated from Niagara University with a Bachelor's in Accounting. I was working in CPA firms right after college, but it just didn't feel right for me. I decided to hit the reset button on my career and moved to Washington D.C. to work as a business manager at a government contracting firm. But when the pandemic hit I understood new business opportunities were emerging, so I started social media marketing for local businesses. It was in mid 2020 I came across OnlyFans. I immediately saw the potential for content creators to shape their own uncommon, independent career paths just as I have. And because of my tax experience, I knew creators would be earning money as independent contractors instead of W-2 employees and may not feel comfortable seeking help in a traditional CPA firm. I quit my full time job on the spot to start The Only Consultant. Over the last two years, I've helped hundreds of clients safely navigate the tax process as new entrepreneurs. I formed my own tax firm, Prisma Tax Group, to offer tax preparation, bookkeeping, business formation, and all things related to support small businesses. I love helping new businesses thrive. If you're on your own unique career path, I'm here to support you. Let's talk today.
