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Youtube finance channel and taxes

Hello,

 

I want to start making YouTube videos about my crypto-currency and stock trading I do for money. I watch others on YouTube and think I could do something similar as well. I was wondering about the financial and tax points of starting such a business.

 

Since the videos I plan to produce would involve me showing the purchasing, managing, and selling crypto and stocks; would those purchases count as deductible expenses? 

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Expert Alumni

Youtube finance channel and taxes

No, they would not be deductible expenses.

 

When you purchase assets as part of your business you have to account for them as assets.  

 

When you purchase crypto or stocks, you can't deduct them, because you still own them. 

 

You can't depreciate or expense them, because they are non-depreciable assets, like land.

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Highlighted
Expert Alumni

Youtube finance channel and taxes

No, they would not be deductible expenses.

 

When you purchase assets as part of your business you have to account for them as assets.  

 

When you purchase crypto or stocks, you can't deduct them, because you still own them. 

 

You can't depreciate or expense them, because they are non-depreciable assets, like land.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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