While it can be amazing when a hobby turns into a lucrative opportunity, it can get stressful when you are suddenly thrust into a field filled with complex social media laws, intense contracts, and time-consuming legal issues that can impact your influencing future. That is why below we will go over one of the more…
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…
As your brand grows as an influencer, there may come a time when you need to make tough decisions regarding your business, like deciding whether it is time to register your influencer business as a limited liability company (LLC). However, before making this decision, it is crucial that you understand what this option can mean…
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…
When people start out in the influencing or streaming industry, retirement is usually not at the forefront of things they are planning for. However, as these individuals grow in popularity and turn their influencing hobby into a career, planning for the future should be a topic that gets addressed sooner rather than later. That is…
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…
Although being an influencer or streamer can result in a profitable career, the income may not always be steady. As an influencer, you have to be ready for the ups and downs that this business creates and times of income gaps. Fortunately, when you are able to plan for these cycles, you will still be…