Influencer & Content Creator CPA Columbus Ohio
Let us handle your finances so you can focus on capturing amazing moments and spreading them to the world!
Influencers & Content Creators CPA Services
Today’s savvy influencers are experts at capitalizing on revenue sources, producing great content, and making money online. When it comes to ensuring you’re compliant with taxes or keeping up on your accounting, maybe this isn’t something you enjoy and would rather have someone help you manage.
As this is some what of a new “industry” per se, the regulations governing what an influencer must declare in their annual return can be confusing. It is important to understand how to account for your earnings and what your tax obligations are or you risk being penalized. A certified public accountant can assist you to carefully maintain your accounts, make sure your bookkeeping is up-to-date, and provide valuable advice to help you reduce your tax liability.
If you’re having trouble managing your finances or are confused by tax jargon, do not worry—Hogan CPA Financial Services have got you covered. Taxes are our specialty and get break things down in a simple manner to help you understand how to best optimizer your taxes.Influencer tax services will not only make your life easier, but also help you achieve your long-term business objectives.
Hogan CPA Financial Services offers a full array of CPA accounting services for influencers and content creators with the goal of ensuring that you and your business can easily organize and manage your finances in accordance with industry best practices. We help influencers and Content Creators with
- Accounting & Bookkeeping
- Taxes filing for sole proprietorships and corporations
- Personal tax filing
- Tax planning & Analysis
- Cash flow management
- Business planning, insights and other services
- VAT advice and preparation for extended international business
Managing your finances with Hogan CPA, a QuickBooks ProAdvisor
The first thing you need to do is keep itemized list of revenue and where you are making money. Payments often come from a variety of source including:
- Sponsorships and Direct cash payments for promotions
- Coaching, consulting, or services you perform
- Sales of a physical or digital product, typically through ecommerce
- Affliate marketing sales
- Direct Membership offerings
All payments need to be tracked, invoices sent to clients, invoices downloaded from the websites you make money from (affiliate, membership, ecom) and more.
In addition, because of your status as an influencer you may be gifted items as part of your promotion. If you stay at a hotel for free, are offered free experiences, meals, and more, as part of your service for promoting a business, all of these are considered revenue for your business and should be accounted for accordingly.
2. Influencer and Content Creator Expenses
- Cell phone, apps, and associated phone bill
- Camera(s), tripod, selfie stick, drones, or other related equipment
- Laptop and software
- Home office and utility expenses (internet, electric, gas)
- Hotels, airfare, meals, and entertainment
- Outsourced work like video editing, graphic design, or other
3. Bookkeeping Simplified - Open a business entity and business account
For the long term growth of your influencer business, at some point it will make sense to open an LLC or other type of entity. We can help you determine what makes the most sense for your business at that time. The value is both to protect yo legally but also to help you reduce tax burden.
From an accounting standpoint, all transactions will now be made through your business account where accounting can easily be managed and semi-automated through Quickbooks or other accounting software. We can help you set up your chart of accounts and other Quickbooks settings for optimal use.
4. Separation of Business and Personal - Commingling of funds
After you open a business checking account with your LLC or other entity, you can have payments directly made to your business instead of in your personal name.
This isn’t legal advice but a common error for new businesses is commingling of funds – meaning you may pay for personal expenses with your business dollars. This basically eliminates the “protection” the LLC created because it appears as if the person and the LLC are one.
We mention this because all your business expenses will be tracked in your accounting and personal transactions will come up as a red flag to us and the IRS. It’s best to appropriately use business accounts for business expenses and personal accounts for personal expense.
If you ever have a question about whether an expense is business or personal, we’ll be more than happy to provide you with an answer.
Influencer & Content Creator Accounting Services with Hogan CPA
Tax Planning for Influencers and Creators
Our objective is to support the growth of your business and free up your time for more digital creation. That will allow you to do what you do best so that you can increase your audience, followers, and customers while increasing your net worth.
Estimated taxes and proactive tax strategies
For the majority of influencers or content creators, income typically comes from a variety of sources, many of which are not setting aside taxes for you. We provide tax planning services to help you appropriately estimate your taxes, while helping maximize your deductions and reduce your tax liability. We provide you with a detailed list of documents we need to help you submit your taxes on time and to avoid any tax penalties or audits.
Small Business entities for Influencers
We work daily with single member owner-operated businesses and small business entities. There are many strategies you can use both on the business and personal side to save yourself money as we mentioned above. Most small businesses start as a single-member LLC and as they grow, changes should be made at revenue milestonesto help the business owner reduce taxes. Changing to an S Corp and putting yourself on payroll comes with more complexity but can save thousands in taxes.
How we help influencer businesses
Let us help you strategize for taxes and free up your time by taking repetitive tasks like bookkeeping off your plate.
What our Influencer Business Accounting and Tax clients are saying
Influencer Business Accountant
Schedule an appointment with Hogan CPA Financial Services
For A Complimentary Phone Consultation
Let us help you grow your influencer business. Get a one on one call with our small business accountants and begin the conversation of how we can better assist your business with taxes, accounting, and more.
Click the button below to call or fill out our form to send an email appointment request and we’ll schedule a time that works best with your schedule.
See our Frequently Asked Questions below for commonly asked questions about our Influencer and Content Creator CPA services.