Gary Watts CFP®, Vice President and financial advisor at Wealth Enhancement Group was quoted in a Wealth of Geeks article titled, “How to File Taxes as an Instagrammer, a YouTuber and Social Media Influencer.”

Gary Watts adds that an influencer can deduct nearly any business expense that can be shown as having some connection to the success of their enterprise. In the end, the IRS will determine if the costs were “ordinary and necessary” for the firm's operation.

As an example, Watts says, “Let's take a health and fitness influencer. It would be simple to classify gym gear, clothing, memberships, cameras, computers, etc. as “common and necessary.”

Read the full article written by Amaka Chukwuma here.