Top Things to Ask Your Accountant If You’re an Influencer

Whether you’re creating viral TikToks, running a successful YouTube channel, or partnering with brands on Instagram, you’re probably earning money doing what you love. But with that income comes responsibility — specifically, taxes and finances. That’s where a good accountant comes in. 

Here are the top things to ask your accountant if you’re an influencer to ensure your financial health stays as strong as your follower count. 

How Should I Structure My Business? 

Many influencers start as sole proprietors, but it might make sense to set up an LLC or, as your income grows, an S-Corp. Ask your accountant which business structure best suits your earnings and tax situation. They can help you determine the best way to protect your assets and possibly save money on taxes.

What Taxes Do I Need to Pay? 

Unlike a traditional job, influencer income doesn’t come with automatic tax withholdings. You’ll likely owe self-employment taxes, state taxes, and possibly quarterly estimated taxes. Your accountant can break down exactly what you owe and when so you can avoid any surprises come tax season.

What Expenses Can I Deduct?

Influencers often have unique business expenses, like cameras, ring lights, editing software, and even outfits for content shoots. Ask your accountant which of your costs are tax-deductible so you can maximize your savings while staying compliant with tax laws. 

How Do I Handle Brand Deals and Sponsorship Income? 

Getting paid for brand deals is great, but payments can be inconsistent. Some brands pay quickly, while others may take months. Ask your accountant for advice on managing fluctuating income, handling late payments, and ensuring all your revenue is properly recorded. 

Do I Need to Send 1099s to Freelancers?

If you hire editors, photographers, or virtual assistants, you might be responsible for sending them a 1099 form at the end of the year. Your accountant can tell you whether you need to issue these forms and how to properly track your payments to contractors. 

Should I Open a Business Bank Account? 

Mixing personal and business finances can be a headache when tax time rolls around. Your accountant can help you decide if it’s time to open a separate business bank account and credit card, making it easier to track expenses and keep your finances organized. 

When Should I Save for Retirement?

Influencers don’t have access to traditional employer-sponsored retirement plans, so it’s important to ask your accountant about options like an IRA or a Solo 401(k). Even if retirement feels far away, planning early can help secure your future.

How Can I Reduce My Tax Bill? 

Nobody likes overpaying on taxes. Your accountant can help you explore legal ways to reduce your tax burden, such as contributing to a retirement account, making charitable donations, or taking advantage of business deductions. 

Do I Need to Worry About Sales Tax? 

If you sell merch, digital products, or courses, you may be responsible for collecting and remitting sales tax if your payment or sales platform doesn’t take care of that for you. Your accountant can explain whether you need to charge sales tax and how to stay compliant with state laws.

Conclusion

Being an influencer is exciting, but it’s also a real business with financial responsibilities. To stay on top of your earnings and taxes, it’s important to know the top things to ask your accountant if you’re an influencer—from deductible expenses to business structure and tax-saving strategies. Working with an accountant who understands content creators can help you minimize liability and set yourself up for long-term success. Not sure if your accountant really gets your business? Book a call with us — we only work with creators like you.