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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Tax Law

Date & Time
  • event Date

    Tuesday, May 2, 2023

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

$347.00

This CLE/CPE webinar will provide tax professionals a detailed analysis of tax challenges and planning techniques for content creators, social media influencers, and online entrepreneurs. The panel will discuss complex tax planning challenges for online entrepreneurs, planning tips for certain assets, income tax issues, structuring tax efficient entities, sourcing of income, and tactics for handling IRS audits.

Faculty

Garrett Alexander
Co-Founder
Orsini & Associates

Mr. Alexander is co-founder of Orsini & Associates. He’s also currently serving as the President of the Savannah Chapter of the Georgia Society of CPAs.

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Michael Dana
Partner
Husch Blackwell LLP

Mr. Dana provides tax and corporate law advice to businesses at all phases of operation, from initial business formation to disposition and all points in between. He advises clients across virtually all areas of operation regarding U.S. federal income tax issues. Mr. Dana has represented U.S.-based, foreign-based, and multinational enterprises, providing advice in connection with acquisitions, distribution structures, and internal reorganizations, including complex crossborder transactions; U.S. Subpart F income and GILTI planning and analysis; foreign tax credit planning and analysis; tax treaty analysis, and other matters related to outbound and inbound U.S. tax planning. His representations have included business structures, operations, and investments by US clients in, or by non-US clients from, Europe, Canada, Latin America and a number of other jurisdictions outside of the U.S. He also works with closely held businesses and their owners to develop and implement tax strategies that protect and enhance corporate value.

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Description

Content creators and online entrepreneurs are subject to a variety of federal and state tax rules which can lead to adverse tax implications. However, these taxpayers can lower their tax burden by understanding applicable tax laws and implementing effective tax planning strategies. Tax professionals must recognize the compliance and reporting challenges and navigate complex federal and state tax rules applicable to content creators and online entrepreneurs.

Online entrepreneurs, influencers, and content creators who earn income or business profits through online platforms like YouTube, Instagram, TikTok, and Twitch must be aware of the tax rules associated with their earnings and the necessary steps to ensure they comply with all relevant tax rules.

In addition to the challenges associated with hobby vs. business income, sourcing rules, and self-employment tax regulations, these taxpayers must also consider their potential tax obligations in the countries where they have followers and earn income. Tax professionals must understand these rules in order to avoid federal and state tax penalties or fines.

Listen as our panel discusses complex tax planning challenges for content creators and online entrepreneurs, planning tips for certain assets, income tax issues, structuring tax efficient entities, sourcing of income, and tactics for handling IRS audits.

Outline

  1. Overview of key tax issues for content creators and online entrepreneurs
  2. Critical tax planning considerations
    • Hobby vs. business income
    • Sourcing of income
    • International tax issues
  3. Structuring tax efficient entities
  4. Tax forms, reporting, and maximizing deductions
  5. Handling IRS audits

Benefits

The panel will discuss these and other key issues:

  • Federal tax rules that must be considered by content creators and online entrepreneurs
  • Available tax planning tools to minimize tax liability
  • Structuring tax efficient entities for efficient tax planning and reporting
  • Applicable tax forms, reporting challenges, and available deductions
  • Sourcing of income and potential international tax issues
  • Navigating IRS examinations

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Understand federal tax rules that must be considered by content creators and online entrepreneurs
  • Ascertain available tax planning tools to minimize tax liability for online entrepreneurs
  • Recognize key tax issues when structuring tax efficient entities for social media influencers
  • Identify applicable tax forms, reporting challenges, and available deductions
  • Understand the sourcing of income issues and potential international tax issues

  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or professional experience at mid-level within the organization, preparing complex tax forms and schedules. Specific knowledge and understanding of corporate and partnerships taxation, sourcing of income, earnings and profits, sales and use taxation; tax implications in the purchase and sale of digital content and assets.

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).