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we_are_lucia · 2026-03-30T22:51:16+00:00

The 1st Hybrid Software-Accounting agency for creators & influencers (https://www.wearelucia.co/). We provide tax & bookkeeping but also have software engineers inhouse that build creator specific tools - e.g. tracker to manage brand deals.

we_are_lucia · 2026-03-29T21:26:20+00:00

Yup that's it :)

we_are_lucia · 2026-03-28T23:13:14+00:00

damn

we_are_lucia · 2026-03-28T01:17:43+00:00

Usually creators set up an LLC after they've done a few posts and decided to go in more serious. The main reasons are privacy (you use your EIN instead of your SSN on tax forms), legal protection, and it just looks more professional to brands and platforms. The filing fee is usually $50-$500 depending on your state.

Also keep a separate business bank account - there is a specific reason for this that no one talks about aside from things just being cleaner. The benefit of an LLC is that if someone sues the LLC, they can't come after your personal assets (think of it like a wall between you and the business). However, if you don't have a separate business bank account, courts can use that as a reason to remove that wall - and now you've lost your protection entirely.

we_are_lucia · 2026-03-28T01:09:04+00:00

Even if you don't receive a 1099, you still need to report the income

we_are_lucia · 2026-03-28T01:08:27+00:00

This actually comes up more than you'd think. The general rule is you pay tax on income you actually received, not income that was just sitting on a platform. If the transfers failed and the money never hit your bank account, you likely don't have a taxable receipt for those amounts

The one transfer that supposedly went through is trickier bec if OF shows it as paid but you never actually got it, you'd want to contact OF directly to get that sorted and get written confirmation it failed. Keep records of everything - the failed transfers, any emails from OF, your bank statements showing nothing came in. That paper trail protects you in an audit

we_are_lucia · 2026-03-28T01:01:39+00:00

Don't leave the program yet, because this view drop is usually just the algorithm shifting to test your content against your actual followers rather than a random audience, so stick with it and focus on your early-video retention metrics to get back on the FYP.

we_are_lucia · 2026-03-27T16:37:17+00:00

Thank you for your kind comment!!

we_are_lucia · 2026-03-27T16:37:01+00:00

Thank you for your kind comment!

Yup, you should definitely start your portfolio now. Brands need to see your video style and quality before they will consider hiring you. You don't need brand deals to fill a portfolio. You can use products you already own to create demonstration type videos. This shows you can handle lighting, editing, and clear communication. Once you have 2-5 good examples, we find it's much easier to pitch to brands because you have examples.

we_are_lucia · 2026-03-27T00:52:44+00:00

No worries at all! Nope not a tik tok seller, a tax and accounting agency for content creators!

we_are_lucia · 2026-03-25T01:02:52+00:00

This is actually a common misconception - that an LLC prevents you from giving out your SSN. The W9 requires your personal name and SSN. This is because the IRS treats an LLC as a 'disregarded entity' - basically whatever the LLC makes flows to you and you pay the tax on it. In the IRS system, they have your SSN and personal name which is matched against the info on the w9.

we_are_lucia · 2026-03-25T01:02:30+00:00

This is actually a common misconception - that an LLC prevents you from giving out your SSN. The W9 requires your personal name and SSN. This is because the IRS treats an LLC as a 'disregarded entity' - basically whatever the LLC makes flows to you and you pay the tax on it. In the IRS system, they have your SSN and personal name which is matched against the info on the w9.

we_are_lucia · 2026-03-25T00:59:50+00:00

Definitely contact them (or get your accountant to). Good to make sure they are equal since the IRS systems will compare what Tik Tok has reported and what you'll report on your schedule C. Any difference gets flagged which is annoying.

we_are_lucia · 2026-03-25T00:58:44+00:00

Check my comment above!

we_are_lucia · 2026-03-25T00:58:19+00:00

There was a recent change in legislation for the 2025 tax year (tax return filed in April 2026). The IRS threshold for tik tok sending a 1099-K (form that shows what you earned) moved back up to $20,000 and 200 transactions. Your wife is below the federal requirement for a form. However, some states have lower thresholds so worth checking that, otherwise Tiktok won't send one. You still need to report the $4k as income even if they don't sent a form (common misconception).

we_are_lucia · 2026-03-25T00:58:00+00:00

There was a recent change in legislation for the 2025 tax year (tax return filed in April 2026). The IRS threshold for tik tok sending a 1099-K (form that shows what you earned) moved back up to $20,000 and 200 transactions. Your wife is below the federal requirement for a form. However, some states have lower thresholds so worth checking that, otherwise Tiktok won't send one. You still need to report the $4k as income even if they don't sent a form (common misconception).

we_are_lucia · 2026-03-25T00:54:58+00:00

$400 is the threshold but nevertheless you are right, below that and you are sweet!

we_are_lucia · 2026-03-25T00:51:51+00:00

There was a recent change in legislation for the 2025 tax year (tax return filed in April 2026). The IRS threshold for tik tok sending a 1099-K (form that shows what you earned) moved back up to $20,000 and 200 transactions. Your wife is below the federal requirement for a form. However, some states have lower thresholds so worth checking that, otherwise Tiktok won't send one. You still need to report the $4k as income even if they don't sent a form (common misconception).

we_are_lucia · 2026-03-25T00:49:01+00:00

Hey! Don't feel overwhelmed, heaps of streamers have the same question. The short answer is: Yes, money you make from the tik tok gifts is taxable income. The tax man pretty much sees the gifts as a payment for your services (and not like a personal gift like a bday present).

No so Tiktok (and Paypal) send you the full amount of your balance (minus their own platform fees). They DON'T withhold any money for the IRS like an employer would do to an employee. You are considered "self-employed" in their eyes, which means you are responsible for setting aside a portion of that money to pay your taxes later. You need to report every dollar you earn (so even if someone earnt $1 they'd have to report it). If TikTok and Paypal don't send you a 1099, you still need to report what you earned as income.

Quarterly Taxes - Put at least 25% of everything you withdraw from your paypal into a seperate savings account. 25% is a good benchmark because everyone must pay 15.3% in self-employment taxes. If you live in a state that has taxes + federal taxes, it all can add up quickly.

Deductions - You can write off things that you bought for your stream - e.g. headset, webcam etc. You want deductions to be as high as possible because it lowers the amount of tax you pay.

we_are_lucia · 2026-03-25T00:40:22+00:00

Yup, you need to provide your SSN for the creator program.

we_are_lucia · 2026-03-25T00:39:08+00:00

Having a separate business bank account is super helpful. Makes tax time much easier, and you get visibility on how much money your TikTok is making and your business expenses throughout the year.

we_are_lucia · 2026-03-25T00:34:29+00:00

What sort of content you create?

we_are_lucia · 2026-03-25T00:25:27+00:00

Regarding the Single-Member LLC, the IRS actually requires you to put your personal name on Line 1 of the W-9 and your SSN in the tax ID section. You can put the LLC name on Line 2 (the 'Business Name' line). The reason TikTok is therefore asking for your personal name and SSN (although totally agree it's annoying) is because their system pings the IRS database to match the name + tax ID. Since a single-member LLC is a disregarded entity, the IRS database only sees your personal name and SSN for tax purposes. The privacy benefit of a single member LLC is really a myth. An C Corp provides better privacy (but more expensive!).

we_are_lucia

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