Tax tips for content creators

I’m going to talk about something that rarely gets talked about when you’re a YouTuber, blogger and/or influencer… and that’s taxes!

What can you claim as a deductible? What can you not claim? What tips do I have to stay organized during tax season so I don’t get a huge tax bill (and an audit!)?

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First thing first, social media influencers do have to pay taxes and if you’re serious about it, I highly recommend you treat it like a business.

If you’re earning money or receiving free gifts, yes, you do have to file it!

DISCLAIMER Before I continue, I need to disclose that I am not a licensed CPA. This post was written from my own personal experience with filing my taxes as a digital influencer, not from a professional perspective. If you need legal advice regarding your taxes, please consult with a licensed CPA or trusted tax preparer. I can only speak from my own experience. Also, please note that my advice and experience come from my residency, so income and taxes may vary depending on the country or state you reside.

Things you can deduct (typical tax deductions)

1. Software

Such as apps used for photo editing (ie Lightroom)⁣ and video editing (final cut pro)

2. Technology

Anything technical I use for my business (ie: camera, SD cards, charger, computer)⁣

3. Props for shoots & videos

For example, if I have to use flowers for a photoshoot, that’s tax-deductible

4. Wi-Fi

Percentage of my Wi-Fi I use at home

5. Percentage of my office space

I have a dedicated office that is specifically for working)

6. Office supplies

This also includes office snackies! Anything an employer would find in an office fridge, such as yogurt, bottled water, candy…. you can write off snacks for your office. I recommend ringing up separately)

7. Traveling for my business

Such as traveling to workshops, speaking engagements & photoshoots)⁣

8. Education

This includes workshops, courses & even subscriptions such as Kindle unlimited, LinkedIn learning & Skillshare

9. Percentage of my cell phone

Since it’s used for my business

10. Services used

Such as photography shoots & graphic design services

11. Website upkeep

This includes web hosting, domain renewal & WordPress theme)

12. Giveaways

If I’m doing giveaways… I can add expenses related to hosting that giveaway)

Things you cannot deduct

Clothing

As much as I would LOVEEEE to be able to claim clothes I wear for videos and shoots, Uncle Sam says no. A U.S. Tax Court ruling in 2011 reaffirmed this tax law when a judge rejected a TV anchorwoman’s efforts to deduct tens of thousands of dollars in clothes she bought to wear on air. If you plan to wear the clothes outside of work… you can’t deduct

 

Beauty Products

Unfortunately, the money you use to look like a snack is not a valid business expense. You can write off makeup used for stage or photo shoots, but not if you wear the same makeup outside of work.

 

Hair Products

If you plan to wear your hair the same way outside of work (ie: wigs and extensions) then you cannot deduct

 

I learned that if it’s suitable for everyday use, it’s not a deductible!

Blogging as a business tips

Here are a few tips I recommend when it comes to your influencer business

Set yourself up as a business

Breonna Queen is a LLC. I pay quarterly taxes, have a business checking/saving account, business cards and I’m currently trying to build my business credit (yes, issa’ thing!). Treat your blog and influence as a business, not a hobby!

Save Money During Your Tax Filing By Staying Organized

Use apps like Wave Apps or Quickbooks to stay organized. Both apps have a receipt app so you can literally take photos of every business receipt and stay organized. Both apps also allow you to link your accounts and sync your transactions so you know your expenses and income.

Put away 20% for taxes

A good guesstimate for taxes you’ll be paying for the year is around 20% of your income so when tax season rolls around, you won’t be scrambling for the money when it’s time to pay the IRS. You may or may not end up paying the entire 20% depending on your business expenses, but it’s good to be prepared.

In my next post, I’m sharing how much I spend as a YouTuber and bloggerI hope you enjoyed these tax tips as an influencer! Questions about navigating the business world as a content creator? Let me know below in the comments!