Iām currently in the Maldives (different resort but same level) and there is NO way they paid for the trip. I donāt believe they paid for a single meal. A can of Coke Zero or Red Bull is $10 and we all remember how she used to chug Red Bull all the time.
Question for UK accountants. Since she wore her ādesignsā with KM on the trip and created and posted content/ADs during the trip, can they write the trip off? I know at least part of the trip would be tax deductible in the US.
Yes Iām a qualified accountant (but works in finance/investment banking in London ie what Ali has recently tried to emulate or Lydia has forced him to cosplay in his wierd āold money officeā and attire LOL. Both honestly make me laugh - all show, no substance or brain matter).
In principal - costs incurred from activities directly related to their work (ie being a prancing social media horse) can be deemed a tax deductible expense to their income earned. So yes, if they vlog any of their āholidaysā and include ads/sponsorships in the holiday like this wedding trip to Italy - theyāre basically working - and any incurred costs on that holiday can be deemed as a tax deductible expense in her incorporated company (ie she saves money by paying less corporation tax). This also goes for any of her house renovations - as this forms part of her activities as a social media horse about being āan old country grandmotherā.
They may not have been aware of this strategy initially - and likely if she has a financial planner/accountant managing her companyās accounts. They have advised her this strategy when setting up a company - ie. Monetise all aspects of your personal life, by vlogging everything, where possible get sponsorships/ads, so all production costs and anything mentioned of the vlog can be fully expensed/tax deductible.
Itās a good financial strategy for their current situation being social media ponies - but definitely not a long term financial situation to be in. I donāt see them having the same gravitas or relevance with any following when they are in their 40s or 50s (which is only 5 years away!) - it wonāt be financially sustainable. Will be entertaining to watch though and Iām here for it lol
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