Influencers Accounting Services
Have you checked out our YouTube channel? Here it is: LINK
Have you checked out our founder’s podcast? Here it is: LINK
Yeah, we know; our subscriber count isn’t the biggest…
But hey, have you seen another accounting firm that creates social content and videos like we do? Trust us, there aren’t many.
We understand the importance of building an audience and the expenses influencers and creators incur to create content. While we might not have the biggest YouTube channel of all time (put smiley face), we sure do understand accounting and tax.
The Problem: Similar to our startup and eCommerce clients, most influencers and creators choose a DIY approach for their accounting and make the classic mistake of doing everything in their business to save money. We understand where you’re coming from. You want to keep your expenses low and preserve cash. We get it.
Although saving is bit of money in the short term is tempting, we believe this can be a costly decision in the long term. Here is why:
You might spend 20 hours per month doing your bookkeeping and save $300 by not outsourcing your accounting and bookkeeping. But have you ever wondered what would happen if you spent 20 hours per month getting new subscribers or brands to work with in your business instead of bookkeeping?
If you can spend 20 hours and make an additional $1,000 in revenue for your business, it’s a no-brainer. You’ve basically paid for the cost of outsourcing bookkeeping at $300 and made an extra $700.
The opportunity cost of outsourcing your accounting comes down to the old adage “In trying to save a few pennies, don’t be penny wise and pound foolish.”
Our Influencer accounting services include:
- Corporate tax filing
- CRA audit assistance
- Business modeling
- Cash flow management
- GST/HST filing
- FP&A (Financial Planning & Analysis)
- Financial planning
- Personal tax filing
- Taxes filing for sole proprietorships
Our Influencer Solutions
Bookkeeping for Influencers
Our bookkeeping services are used by creators and influencers. We take the time to sit down with you to understand how your business works and how revenue should be recognized.
Creators have diverse and multiple sources of revenue (e.g., affiliate revenue, AdSense, etc.). Our team will ensure that we develop a bookkeeping solution that allows you to record these various sources of revenue by utilizing technology and apps to make the process automatic, accurate, and seamless.
We will design an accounting tech stack for you based on three pillars:
- Record accounting transactions (Xero, Quickbooks online)
- Keep track of expenses (Receipt Bank, Hubdoc)
- Integrate payments (Google AdSense, Wise)
Tax Filing and Planning for Influencers
If you’re starting to make serious coin as an influencer/creator, you’ll have to start thinking about paying taxes. We can help you file your taxes and work with you to develop tax strategies to optimize your deductions and lower your tax burden so that you can keep more of your hard-earned money. Our objective is to help your business grow so that you can increase your net worth as you grow your audience, subscribers, and followers.
Financial Planning for Influencers
For most creators and influencers, the income earned from social media platforms is their main source of income. Our team can provide financial advice alongside our tax advice to help you increase your wealth and help you with budgeting to set aside savings for the future. If you’re looking to invest to diversify your income or start a new line of business, our team of professionals can help guide you through the process.