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They Went Viral and Made Money. Now They Owe Taxes.


The needs of these creators vary — and fortunes can change quickly. “If you go viral, you might make $80,000 in one month,” Ms. Studley said. “Some clients are 19 and haven’t heard of a 1099.” Others, she said, may need to issue 1099 forms to their own contractors.She recommends that creators make professional bank accounts. “Have all of your spicy income deposited into that account,” she said she advised her clients.Eric Wei, a co-founder of Karat, a financial services company for creators, said some people suddenly earning online might panic and “ask their mom’s friend’s uncle’s fraternity brother” for help with accounting. “Many times that person who comes from …

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