Category Archives: Taxes

Taxes

Why am I still paying penalties even though I filed an extension?

Posted on by Jessica Cummings
Income Tax Penalties
10
Nov

Filing your taxes on time is important, but it’s not always easy. If you’re a creative business owner, you may have a lot of different income sources and deductions to keep track of. It’s no wonder that many creative business owners end up filing extensions and/or paying tax penalties. In this blog post, we’ll review […]

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Taxes

So I filed a tax extension with Revel, What’s Next?

Posted on by Jessica Cummings
Tax extensions
31
Aug

Tax Deadlines are quickly approaching, are you ready? Filing a tax extension back in March or April was certainly a move that bought you a little more time to gather your tax docs together. But as the weeks and months of summer tick by, we’re finding the extension deadlines rapidly approaching on the horizon, which […]

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Business/Growth, No Surprises, Taxes

What does the IRS count as taxable content creator income?

Posted on by Jessica Cummings
Taxable Income for Content Creators
26
Apr

There are so many avenues of income available to influencers and online creators these days and we only expect that list to grow. On the one hand, it’s cool because it means you’ll never be entirely dependent on one line of income. If one drops out, you’ve got other methods you can turn to. But […]

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Influencers, most viewed, Taxes

What can I write off as a foodie influencer?

Posted on by Jessica Cummings
Foodie Influencer Tax Write Off Tips
11
Apr

  [5 min. read]   Firstly, genius move making this your career. We’re diehard foodies at Revel and if we didn’t love what we do, we’d be right there with you. Instead, we’re the accountants for creatives, digital creators, and influencers and recently the most popular question we’ve been getting is: “what can I write […]

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Business/Growth, How to, Influencers, Taxes

I’m a social media influencer. What can I write off as an expense to my business?

Posted on by Cherish Parker
08
Mar

  As a content creator or social media influencer, you’re living in the wild west when it comes to tax deductions. It’s more important for you than the typical business owner to be specific and have reasoning behind your write-offs. There is no one comprehensive list of all possible deductions—it’s a conceptual framework. But when […]

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Taxes

How can I save on tax with charitable donation bunching?

Posted on by Revel CPAs
charitable donations
12
Dec

The IRS has two approaches to general income tax deductions: the standard deduction or itemized deductions. The standard deduction is a set amount deducted from your income before you’re taxed. It’s sort of the ‘hassle-free’ option when it comes to your return. Since the Tax Cuts and Jobs Act (TCJA) of 2017 increased the standard […]

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Business/Growth, Taxes

Does becoming an S Corp make sense for my business?

Posted on by pfteam
s corp
09
Dec

Somewhere along your entrepreneurial journey you may have asked yourself the question: does becoming an S Corp make sense for my creative business? Oftentimes, electing to become an S Corp is sold as a clever way to save on taxes and who doesn’t want to save on taxes? This aspect alone can make being an […]

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Business/Growth, Influencers, Taxes

How do I plan for taxes as a content creator or influencer?

Posted on by Revel CPAs
influencer tax planning
05
Dec

You probably thought the most difficult part of becoming a content creator was going to be generating enough quality content to keep your audience engaged and growing.  Then you thought about taxes. There’s so little information out there about how to plan for the taxes that go along with being a content creator or influencer–and […]

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Taxes

Why you should start your year-end tax planning now

Posted on by Revel CPAs
year end tax planning for creative business
09
Nov

So, let’s kick off this blog with some bad news. There are very few changes you can make after year-end to positively impact your tax situation. Why? Because many deductions and tax planning strategies have to be implemented during the tax year (or at least by December 31). The best time to get things in […]

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