We'll connect with you frequently for bookkeeping updates. Have urgent questions about your Twitch streaming revenue that can't wait? We'll respond to you in less than one business day.
Our platform enables you to automate data inputs from major providers to mitigate common errors. We work in partnership with brands like Twitch, Stripe, and Shopify—ensuring your financial records are always precise and up-to-date.
Say goodbye to the hassle of managing numerous subscriptions and tracking individual donations—we automate inputs directly from your linked accounts. Gain insights from one centralized dashboard so you can easily understand the financial standing of your Twitch streaming career and craft strategic decisions.
DR. BUKKY KOLAWOLE
As a Twitch Streamer, you may be able to deduct a range of expenses relevant to your streaming activities. These could include but not necessarily limited to:
- Equipment: Costs associated with your streaming setup like computers, monitors, webcams, microphones, consoles, games, and software could potentially be written off.
- Subscriptions and memberships: Subscription costs for certain games, software or services essential for your streaming business could also be deductible.
- Home office: If you have a dedicated space in your home used strictly for streaming, you may be able to deduct a portion of your housing expenses.
- Internet and phone bills: A percentage of these associated costs may be written off, commensurate with how much is used for your streaming activities.
- Travel and meals: If you go to gaming conventions or other business-related events, the costs incurred may be deductible.
- Advertising and Promotion: Any money spent on advertising, promotions, or marketing your streaming could be written off.
Please note that tax laws vary by country and even by the state in some cases. Therefore, always consult with a professional tax advisor or accountant to understand what you can and cannot deduct based on your specific situation.
Keeping track of multiple income streams like donations, subscriptions, and sponsorships for tax purposes is essential for accurate financial reporting. To do this, consider the following steps:
- Documentation: Keep accurate records of all your income sources. Receipts, invoices, bank statements, and other official documents can serve as proof of income.
- Separation: It's helpful to separate your income streams. One way is to use separate bank accounts or accounting categories for each income type.
- Bookkeeping Software: Use a bookkeeping software that allows you to categorize and track different kinds of income effectively.
- Professional Help: Working with a professional bookkeeper or accountant can simplify this process. They can help ensure you're correctly tracking your income and complying with tax laws.
At Bench Accounting, we help professionals like you track and categorize multiple income streams. We make bookkeeping simple, stress-free, and suitable for your specific needs.
The Twitch Streaming industry comes with its unique set of bookkeeping challenges. Some of these include tracking and categorizing numerous small revenue streams (subscriptions, donations, ad revenue, sponsorships, etc.), determining tax liabilities for these streams, and managing expenses related to your streaming activities (hardware, software, subscriptions).
Bench Accounting is equipped to help tackle these unique challenges. Our team of expert bookkeepers will take the time to understand your particular financial situation and provide tailored services to address these challenges. We'll handle the complex task of categorizing and tracking revenue and expenses, and keep your books tax-ready year-round. We can also provide financial reporting to offer you insight into how your streaming activities are affecting your bottom line.
In addition, we offer expert advice on tax liabilities to ensure you're not paying too much or too little at tax time. Our BenchTax service connects you with a professional tax expert who knows the ins and outs of the Twitch Streaming industry, saving you money and anxiety.
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.