"As part of Trump's "no tax on tips" policy, digital content creators will be able to claim a tax deduction next year on the portion of their income that comes from tips, a Treasury spokesperson confirmed to Business Insider. In a draft list of qualifying occupations provided to BI and first reported by Axios, the Treasury describes digital content creators as people who "produce and publish on digital platforms original entertainment or personality-driven content, such as live streams, short-form videos, or podcasts.""
"What constitutes a "tip" on social media may be less concrete than on a bar tab or restaurant check. Most social-media platforms offer some form of tipping under various names. On Twitch, they're referred to as "bits." On TikTok, they're called "gifts," and on YouTube, they're "Super Chats." Tipping is common on OnlyFans, where creators offer "tip menus" for viewers to pay for custom content or video chatting."
Digital content creators will be able to claim a tax deduction next year for income received as tips under President Donald Trump's 'no tax on tips' policy. The Treasury's draft list of qualifying occupations describes digital content creators as people who produce and publish original entertainment or personality-driven content on digital platforms, including live streams, short-form videos, and podcasts. Examples include streamers, online video creators, social media influencers, and podcasters. Many influencers earn mainly from advertising or brand deals, while some, such as Twitch streamers and OnlyFans creators, rely more on subscriptions and tips. Social platforms use varied tipping mechanisms like Twitch 'bits', TikTok 'gifts', and YouTube 'Super Chats'.
Read at Business Insider
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