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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education