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Influencing might seem like a lucrative career, especially after witnessing influencers receive gifts, PR packages, and sponsorship deals worth thousands. However, they often overlook the financial intricacies involved, including how to manage tax obligations and expenses. Without a stable income from a traditional job, financial mismanagement can lead to harsh realizations when tax season arrives.
For example, influencers who earn substantial incomes unpreparedly can find themselves in serious financial trouble if they fail to account for taxes, resulting in significant debts.