Cloud Accounting and Content Creators

A match made in heaven

Jeffrey Steinberg, Alana Smith
| 1/5/2023

Spanning digital channels including TikTok, Instagram and YouTube, the world of content creators has evolved into a unique community of professionals who inventively fill various niches across the social media landscape. Canada’s content creator economy has experienced exponential growth, particularly post-pandemic. With cult-like followings in tow, influential creators have successfully grown diverse businesses out of what was initially considered a hobby or side-hustle. 

With revenue streams as unique as their creator’s content, influencers can leverage subscriptions, advertising, and sponsored posts amongst a plethora of various avenues to earn an income. Known for her highly relatable sketches portraying hectic family dynamics, Kris Collins has become Canada’s second biggest TikTok influencer. With an incredible 47.8 million followers, @kallmekris was a hairdresser until COVID-19 lockdowns forced her to pivot. With the creator economy reaching new heights, we are watching individuals seize the opportunity to make a lasting impact in the social media space.

CRA cracking down

Whether you are a TikTok sensation, or YouTuber, every Canadian social media influencer and content creator earning income is mandated by the Canada Revenue Agency (“CRA”) to report income. Between digital fame, massive online communities, and brand partnerships, creators often struggle with juggling multiple streams of income and the world of business management. As their audience engagement rates soar, content creators encounter more avenues for revenue.  

The CRA is now cracking down on the digital world, trawling the internet to uncover influencers who may have undeclared income. While the exhilaration of digital fame is certainly worth celebrating, tax compliance often takes a backseat. Ignorance is not a defense when it comes to critical tax responsibilities, and with creators under such a microscope, assembling the right team can help you reclaim your most valuable asset - time.   
Social Media

Are you covered?

Wondering if you have everything covered?  Our expert team of business management and tax professionals can optimize the business-side of your social media career so that you can focus on creating content that stands out. We make it easy for digital creators to continue captivating the media ecosystem while we take care of the rest. 

By adopting a relationship-based approach to business management, our skilled professionals act as a strategic advisory team for dynamic media personalities searching for financial simplicity. Crowe Soberman seeks to optimize the business-side of your social media career while you focus on fostering your passion for creating engaging content.  

Cat and Nat have built an empire of podcasts, tours and books based on their hilarious content centered around motherhood. With nearly 780,000 followers on Instagram, they relied on our team of advisors at Crowe Soberman to address complex financial concerns while focusing on growing their audience. “When our business started to grow exponentially, we found ourselves spinning out of control, spending too much of our precious time in areas that we know nothing about. It took the team at Crowe Soberman to help us level up, chartering the messy waters of business management, to allow us to do what we do best,” said Cat and Nat. “The peace of mind that comes from knowing we are so well taken care of is invaluable.” 

Cat and Nat
It took the team at Crowe Soberman to help us level up, chartering the messy waters of business management, to allow us to do what we do best. The peace of mind that comes from knowing we are so well taken care of is invaluable.
Cat and Nat
Catherine Belknap & Natalie Telfer, Cat + Nat

Concierge-style business management

One powerful tool that we use to help content creators seamlessly manage their business is cloud accounting. We offer tailored guidance throughout the journey of converting to a cloud-based system, where influencers can monitor the success of their business across any device in real-time. 

Cloud accounting is an intrinsic match for individuals in the digital space, making bookkeeping available for both content creators and their accountant to access anywhere, any time. By taking a tailored approach to our package of industry -leading cloud-based software, we can help you make proactive decisions, freeing up space to capitalize on exciting opportunities. Crowe Soberman’s team of cloud accounting professionals are experienced in setting you up for success — so you can focus on growing your business instead of managing your books. 

Our concierge-style financial services are designed to make your life easier – requiring little input from you, while making a massive impact on your peace of mind. From a strategic perspective, the team at Crowe Soberman structures your business and income streams in a coordinated manner, ensuring your tax affairs are planned optimally. Pairing dynamic tools like cloud accounting with the demands of the digital space you intuitively play in, our team will meet you in your channel to ensure you are covered from a financial point of view. 

This article has been prepared for the general information of our clients. Please note that this publication should not be considered a substitute for personalized advice related to your situation.

How can we help?

Whether you’re talent looking for financial advice or an agency interested in business management services for your clients, we are here to help.
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Jeffrey Steinberg
Jeffrey Steinberg
Partner, Business Management & Transactional Services
Jeffrey Steinberg CPA Professional Corporation
Alana Engelberg Crowe Soberman Toronto
Alana Smith
Senior Manager, Business Management Services