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Exploring Life & Business with Katherine Studley of The Only Consultant

Today we’d like to introduce you to Katherine Studley.

Hi Katherine, so excited to have you on the platform. So before we get into questions about your work-life, maybe you can bring our readers up to speed on your story and how you got to where you are today?
I was raised in Grand Island, NY a small town outside of Buffalo. (Go Bills!) Ever since childhood, I have been focused on possibilities, living life to the fullest and connecting with people. My mother will tell you that I showed my ability to relate to people at an early age. She remembers once while attending a neighbor’s birthday party, I had the adults gathered in the living room doing crafts with the used wrapping paper from the gifts. Or the time when we arrived at a company picnic and I told her to pretend she didn’t know me so I could work the crowd solo. I’ve always been unapologetically creative, intuitive and bold. When it came to deciding a major in college, I went back and forth between marketing and accounting. I ultimately obtained a bachelor’s degree in accounting from Niagara University in 2017. It was never my intention to work in public accounting or tax long term. I knew if I could marry my personality with financial knowledge, I could become a lethal businesswoman. I worked for two years in the tax department of public accounting firms in Buffalo and in June 2019, I hit the reset on my life and moved to Alexandria, VA. I arrived with no job and instead worked at a coffee shop to network.

My networking soon led to a full-time job as a business operations manager as a government contractor. When the pandemic hit, I panicked about being alone in a new city but knew if I could paid close attention to the changing world, there would be business opportunities amongst the chaos. I began moonlighting for local business owners assisting in social media management. At one point, I was working at the coffee shop, my full-time job and taking consulting clients. It was during my time spent on social media that I first came across OnlyFans, a new digital subscription platform for content creators of any kind. My mind immediately raced to tax season, foreseeing that these first-time creators wouldn’t know the full tax implications of 1099 contractor income. After writing an e-book that generated some buzz, I had several requests for not just tax knowledge but tax preparation. I decided to quit my full-time job on the spot to pursue The Only Consultant 100%.

Fast forward a year. I’m halfway through my second tax season as an entrepreneur and loving every second if it. I provide tax tips on Instagram/TikTok and focus heavily on financial education with each client. My team and I offer judgment-free tax preparation and consulting, bookkeeping and personal budgeting. Long term, I would like to build a full business support agency for all independent contractors regardless of industry.

I’m sure you wouldn’t say it’s been obstacle free, but so far would you say the journey have been a fairly smooth road?
If I’ve learned anything in the past two years, it’s that entrepreneurship is messy. When I first decided to take tax clients, I knew I wanted every return to be signed by a CPA. CPA stands for certified public accountant, it’s the gold standard in accounting and I wanted my clients to have the highest quality tax service available. One problem with my grand plan was that I’m not a CPA. I started calling around to see if any CPAs were interested in helping me with my OnlyFans clients. The accounting industry isn’t known as the most open-minded group of people so as soon as I mentioned “amateur porn” or “sex workers” no one was interested in the work. Finally, I found both a sole proprietor and small firm in Buffalo.

It is also worth mentioning the dark side of the sex work industry. While my goal is to empower women and small businesses, I also need to ensure every adult content creator I work with has a page because they 100% want to. Sex trafficking has grown exponentially since the dominance of the internet and the online porn industry. I’ve partnered with DeliverFund, a nonprofit intelligence organization that leverages cutting-edge technology in the fight against human trafficking in the US.

Thanks – so what else should our readers know about The Only Consultant?
I specialize in tax preparation for OnlyFans creators, adult entertainers, and any independent contractor regardless of industry. My goal is to empower anyone interested with the financial services and education needed to operate a thriving small business. My vision for the brand has always been approachable, credible but sassy. On my socials, I weave tax facts in between trending reel sounds with clear cheeky undertones. I enjoy pushing the envelope as much as I can while still maintaining my professionalism. I’m different than other tax services because I offer a completely judgment-free zone to discuss your tax situation. I’ve worked to familiarize myself with niches within the industry to ensure my clients can maximize their business deductions. For example, if a client has a Suicide Girl aesthetic, I’m not confident other tax professionals would know their piercing and tattoos are a true write off because maintaining a certain look is ordinary and necessary for their small business. Same with clients who specialize in Feedism, if eating on camera is how you make a living, then the food consumed during content creation is actually a supply and not a business meal. I work with everyone from realtors to strippers, baristas to corporate suburban couples. If you receive a 1099-NEC, you deserve accessible and high-quality financial services. Period.

What sort of changes are you expecting over the next 5-10 years?
OnlyFans and similar platforms like FanCentro and Fansly aren’t going away anytime soon. Instagram is already experimenting with a similar subscription structure which will results in more high-earning content creators. More and more individuals are earning money as independent contractors in the digital space whether it’s Twitch streamers, Youtubers, or Tiktokers. I anticipate the content creator economy to only grow from here and I’m happy to help.

Contact Info:

  • Email: katherine@studleyllc.com
  • Website: www.theonlyconsultant.com
  • Instagram: @the_only_consultant
  • Other: Tiktok @the_only_consultant

Image Credits
Andrea Einstoss & Sarah Marcella

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