As a startup, you may face numerous unforeseen business expenses or issues that can result in you having to use professional help. Fortunately, when you work with a certified public accountant (CPA), you will not have to take on these problems alone. Instead, these professionals can help your company find ways to continue to grow…
It usually comes with the gig— influencers tend to receive a significant amount of gifts or free products in exchange for a mention on a page or a post. However, because the federal government considers these goods income, they will need to be included on a tax return. Unfortunately, many influencers do not understand their…
You finally have your business under control, and things are taking off. Nothing can stop you! That is, until you get that dreaded audit letter from the Internal Revenue Service (IRS). Even if you believe you have done everything right with your taxes, you may still have to deal with this review. That is why…
Unfortunately, when it comes to startups, almost nine out of ten of them will fail. Not because the entrepreneur doesn’t have a good idea or a lack of passion. But rather, it’s usually because these companies run out of money. That is why startups must develop a solid budget plan from the start that can…
As a social media influencer or a streamer, you likely have noticed that your income takes a massive hit during tax season. Fortunately, there are legal measures you can take to reduce your taxable income so that tax season won’t be as painful. What Are Tax Deductions? A tax deduction refers to a provision that reduces taxable…
You are finally making money as an influencer! That’s FANTASTIC. Now comes the not-so-pleasant news, it’s time to start paying taxes. Influencers and streamers, like everyone else, need to pay taxes. The only difference is because you are self-employed, you will usually have to use different forms, deductions, and tax codes than those that work…
Careers in social media influencing have grown significantly in the last few years. Today, countless individuals make their living creating content on YouTube, Facebook, Twitter, Instagram, and TikTok. However, as a social media influencer or streamer, you need to realize how this career or side hustle can impact your taxes. That is why, in the…
Today, more people than ever are earning money from posting on Instagram, YouTube or other streaming platforms. In some cases, this money can be quite significant. However, you need to remember that if you bring in money as an influencer or streamer, you must pay taxes. Thankfully, there are things you can do to minimize…