Couple/Vloggers Nicanor and Inday formed their YouTube Channel "Ja-Mell". Due to their fanbase of over 12 Million subscribers, they were able to monetize the millions of views on their content from Google LLC which owns YouTube. They recently deleted their YT account in view of the purported RMC issued by the BIR taxing social media influencers. Which is FALSE assuming they are separately paid by YT? O Ja-Mell is required to register with the BIR because they are considered as in practice of their profession O Ja-Mell is not required to register with the BIR even if they earn money if vlogging is a hobby only and not intended for profit O Ja-Mell can claim as business expenses/deductions the filming expenses and other expenses related to their "vlogging" O Ja-Mell is liable to business tax depending on whether they breached the VAT threshold

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Couple/Vloggers Nicanor and Inday formed their YouTube Channel "Ja-Mell". Due to their fanbase of over 12 Million subscribers, they were able to
monetize the millions of viewws on their content from Google LLC which owns YouTube. They recently deleted their YT account in view of the purported
RMC issued by the BIR taxing social media influencers. Which is FALSE assuming they are separately paid by YT?
O Ja-Mell is required to register with the BIR because they are considered as in practice of their profession
O Ja-Mell is not required to register with the BIR even if they earn money if vlogging is a hobby only and not intended for profit
O Ja-Mell can claim as business expenses/deductions the filming expenses and other expenses related to their "vlogging"
O Ja-Mell is liable to business tax depending on whether they breached the VAT threshold
Transcribed Image Text:Couple/Vloggers Nicanor and Inday formed their YouTube Channel "Ja-Mell". Due to their fanbase of over 12 Million subscribers, they were able to monetize the millions of viewws on their content from Google LLC which owns YouTube. They recently deleted their YT account in view of the purported RMC issued by the BIR taxing social media influencers. Which is FALSE assuming they are separately paid by YT? O Ja-Mell is required to register with the BIR because they are considered as in practice of their profession O Ja-Mell is not required to register with the BIR even if they earn money if vlogging is a hobby only and not intended for profit O Ja-Mell can claim as business expenses/deductions the filming expenses and other expenses related to their "vlogging" O Ja-Mell is liable to business tax depending on whether they breached the VAT threshold
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