We'll continually touch base with updates on your bookkeeping. Got urgent queries that can't be postponed? We'll revert to you within one business day or less, perfectly suited for the fast-paced lifestyle of influencers.
Our platform enables you to streamline data from leading platforms to sidestep usual pitfalls. We partner with influencer-favored platforms like Instagram, PayPal, YouTube, and Patreon—ensuring your finances are always spot-on.
Say farewell to mountains of receipts and the hassles of self-accounting—we automate your financial data directly from linked accounts. Receive insights from a single, easy-to-understand dashboard so you can effortlessly gauge the health of your influencer career and make strategic financial decisions.
DR. BUKKY KOLAWOLE
As an influencer, managing and tracking payments from multiple social media platforms can be a bit challenging. With our specialized bookkeeping service, this task becomes simpler. Our professional bookkeepers use advanced tools and software to keep track of your earnings across various platforms. They organize this information in a way that's understandable and accessible to you. Furthermore, they also ensure these earnings are correctly recorded for tax compliance. Along with these, our bookkeepers assist in invoicing, receipt tracking, financial reporting, and other crucial financial management tasks to seamlessly oversee your social media earnings.
As an influencer, there are several expenses you may be able to claim as tax deductions. These include:
- Advertising and Promotion: If you spend money on advertising materials or promote your social media channels, these expenses could be tax-deductible.
- Home office expenses: If you use a portion of your home specifically for your work as an influencer, you may be able to deduct a portion of your housing expenses such as rent or mortgage payments, utilities, and home insurance.
- Travel expenses: If you travel for your influencing work and can substantiate these expenses, they may be deductible.
- Professional fees: Fees paid to managers, publicists, and attorneys can certainly be written off.
- Computer and Tech Equipment: If you use certain tech devices specifically for your influencing work, like a camera, a computer or a smartphone, you might be able to claim these as business expenses.
Keep in mind that tax laws vary by location and individual situation, so it's important to consult with a professional tax advisor to ensure that you're accurately reporting your expenses.
Handling accounting for brand partnerships and sponsored posts can be tricky, but it's certainly manageable with the right approach and tools. It involves tracking all income, expenses, and agreements associated with each partnership or sponsored post. Each transaction should be clearly recorded and categorized for ease of analysis and tax prep.
If you are handling numerous partnerships or sponsorships, it might get overwhelming. An experienced bookkeeper or an accounting software like Bench Accounting can help you streamline this process. Our bookkeeping professionals at Bench can provide custom solutions for your business needs, ensuring you always accurately track and report your financials for brand partnerships and sponsored posts.
We can help you keep a clear record of received payments, payment due dates, associated expenses, and agreements. With this organized approach, Bench simplifies your bookkeeping and provides you with real-time access to your financial data, allowing you to focus on building more beneficial partnerships for your brand.
Nope! All bookkeeping is completed in-house.
Your bookkeeper will be your main point of contact, but at times you might hear from another member of your team. This is usually when your bookkeeper goes on vacation, is sick, or otherwise unavailable.
We handle the bookkeeping for you but sometimes we’ll need your input, especially at year-end. On average, expect to spend 15 minutes each month answering questions for your bookkeeper, or uploading supporting docs.