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 below post, we will go over the benefits of working with a certified CPA, describe how these professionals can help you get ahead no matter if you are an established influencer or just getting started, and detail how these financial experts can help you save money in the process.
Pick the Right Business Structure for You
If you are just starting out and looking to turn your influencing side business into an established venture, working with an experienced CPA can help you create a business plan that not only ensures you make sound financial decisions but one that promotes tax efficiency as well. In addition, these CPAs can also free up your time by handling specific administrative tasks associated with your business while you focus on running and growing your budding influencing career.
Handle Your Tax Returns
Working with a CPA can not only help maximize your tax refund, but these professionals can help you manage your finances, provide advice about effective tax strategies, ensure compliance, and optimize your personal accounts.
Additionally, as an influencer, you may have numerous tax write-offs. However, figuring out which of these may apply to your business can take some time. Fortunately, when you work with a certified CPA, these professionals can help you navigate these write-offs while handling even the most complicated financial situations.
Provide You With the Bookkeeping Services You Need
Outside of preparing and filing taxes, a certified CPA can also provide reliable booking services tailored to your influencing business needs. For instance, these CPAs can:
- Help maintain accurate records.
- Manage financial and other business accounts such as payroll.
- Analyze financial statements to help your business make modifications to improve your output and ensure your business’s future success.
Help You Plan for the Future
An experienced CPA can provide strategic planning assistance to ensure your influencing business continues to grow. These CPAs can analyze budgetary needs, review spending habits, prepare growth forecasts, and recommend what your business can do to become more efficient.
Work With a Certified CPA at Ardent Guardian
Unlike many other accounting firms, we are licensed in both the legal and financial sectors at Ardent Guardian, meaning we can act as an attorney, CPA, and Certified Financial Planner. Not only can this make your life easier and save you money in the process, but with our extensive experience helping influencers, we know what it takes to get you ahead.
From tax preparations to budgeting, if you need help with your business, contact Ardent Guardian today. Let us show you not only what we can do for you and your influencing career but how we can go above and beyond what you need.