Tax Planning for Retirees: Strategies to Protect Retirement

You can deduct business expenses even if you operate as a sole proprietor, which is the automatic business structure for individuals receiving a 1099-NEC form (common for freelance work). Your financial data is treated with the utmost care and protected using industry-standard security measures. Our systems are regularly updated and audited to ensure they meet the highest security standards.

Differences between accrual vs. cash accounting

• The IRS sees single-member LLCs and S-Corps as passthrough organizations, and while that makes filing your taxes simpler, there are important tax differences between the two that you need to consider.
• Content creation and influencing can be exciting, rewarding and, let’s be honest, pretty lucrative too.
• Accountants for social media influencers can also make sure you’re paying the right amount of tax if you’re working full-time alongside content creation, if doing social media is your ‘side hustle’.
• On that last point, Garrett explains that by hiring a CPA, naturally you’re usually going to get the best end product when it comes to tax returns and tax savings.

Our team remains accessible and responsive, ready to address any questions or concerns that may arise as your business grows and thrives. Erica Heyward began preparing tax returns for friends and family at her dining room table in 2006. FreeAgent can be accessed anywhere, at any time, as long as you have the internet.

Accounting and Bookkeeping for Content Creators and Influencers

All expenses have a direct, measurable impact on your profit margins, but if you fail to track and account for those expenses, it’s all too easy to find that they’ve eaten through your profit. However, to truly benefit from those income streams, you must track, categorize, and manage each one accurately. By understanding which platforms and strategies generate the most income, you can optimize your efforts, tailor content to your audience, and negotiate better deals with brands.

We know our stuff! We know your industry!

Additionally, our team undergoes rigorous training to maintain the confidentiality and integrity of your data. You can trust that your financial information is safe when you partner with us. If you have specific security concerns or questions, please don’t hesitate to reach out, and we’ll be happy to address them. We handle the entirety of your tax prep and filing for you so you can devote your time and energy to expanding your business and serving customers. When accounting for content creators considering a career in finance or accounting, the choice between becoming a Chartered Financial Analyst (CFA) or a Certified Public Accountant (CPA) can be pivotal.

• At some point, content creators need to decide if they should use accrual or cash accounting.
• With our team of CPAs for influencers, rest assured your books are balanced while you create epic content.
• • Unlimited communication via email, phone, online portal, and in-person meetings.
• What do content creators, influencers and social media entrepreneurs need to know about staying on top of their finances and tax preparation?
• It’s even trickier if you’ve never run your own business before, and this is all new waters for you.

Expense Management and Why It’s Essential

Take advantage of our social media influencers partnership scheme and benefit from reduced rates whilst retaining complete access to our full portfolio of services. This means there are thousands of social media influencers who have propelled themselves how is sales tax calculated into the spotlight, but need support on how to manage the finances they’re now earning. Social media has always had the capacity to drive trends within society. Accounting4Creators was established to offer an unparalleled level of service to influencers and creators.

We know your industry quite well and have developed partnerships over the years with top hitters in your industry!

Invoices should show your name and business information, the supplier or buyer’s name and information, date, amount, and other important information. Under our Client Service Guarantee, if you contact your accountant before 3pm, they will get back in touch with you that very same day. That way, you don’t have to worry about anything else – just concentrate on your day-to-day. For creators making over $200k annually who want the ultimate financial guidance and support. We’ll help you determine what forms to file, gather bookkeeping and payroll services the necessary documentation, and ensure your return is accurate and complete.