Friends with Tax Benefits: So You Made Money On Social Media?

The first episode of Friends with Tax Benefits is out, and we are so excited to share it with you! Friends with Tax Benefits is a 12-episode conversational-style podcast.

Each episode, our hosts, Lauren Thomas, Katharina Reekmans, and Daniel Thrall, get three minutes to dish out real and actionable tips in our ‘3 for 3,’ as well as answer commonly asked questions Q&A style. Believe it or not, these friends know how to make personal finance fun.  

This first episode is all about the Creator Economy – aka influencers – and what it means for creators’ taxes when they start earning money with their social feeds. That’s right… when you start earning income, it has to be reported on your tax returns! So, what does that mean for the creator?

It means you are technically self-employed! So it’s time to get serious about how you manage income and expenses. Spending money for your small business (Hello, makeup influencers trying out the latest products to review!) means you can potentially claim the expense as a tax deduction. Start keeping your receipts, and stay on top of those quarterly estimated tax payments.

Listen to the full episode today. Join Kat, Lauren, and Daniel as they explore this topic in depth, offer their personal experiences and perspectives, and Kat, our resident tax expert, answers questions directly from creators.

For even more info about the Creator Economy, don’t forget to read our new blog that answers creators’ burning questions.

Have a question for our Friends with Tax Benefits team? Drop in the comments below and maybe they’ll answer it in a future episode!

Follow the Friends with Tax Benefits podcast on Spotify or Apple Podcasts. New episodes drop every Thursday.

The views, information or opinions expressed during the Friends with Tax Benefits podcast series are solely those of the individuals involved and do not represent those of Intuit, TurboTax or any of its brands. The primary purpose of this podcast series is to educate and inform. This podcast series does not constitute financial, legal or other professional advice or services.