TikTok is the fastest growing social media platform in the world and therefore it is also interesting to earn money with it. You can find out what opportunities you have and what you need to consider in this practical tip.
How to earn money with TikTok
In general, you have several ways to earn money with TikTok videos. This requires a certain amount of followers and likes to be interesting for investors or to appeal to people who want to buy your goods. 10,000 followers is a good number.
- You will probably find product placements most often on social media. This is about branded goods or referring to items that are touted as being particularly interesting.
- Similarly, there is the option on TikTok to play certain songs during videos. If an artist would like to promote a song, they can do so through a successful TikTok creator.
- You can also sell your account to companies so they can use your account for advertising. However, this is only worthwhile if you have a certain number of followers and of course means that you lose your account and possibly fans.
- Of course, you can also promote your own goods by pointing out your own collection or telling people about your product line. If you have cool clothes, you will probably be asked where you can buy them anyway.
- Collaborations can also make you money. If you promote a channel with your reach and produce videos together, often both get something out of it.
- In Germany and some other EU countries, there is the TikTok Creativity Fund, where creators can earn money with their videos. However, TikTok does not reveal anything about the amount of possible income.
- It is also possible to receive donations if viewers like your content. This can be done via PayPal, for example.
- Buying followers, by the way, is only worthwhile to a limited extent because they will not interact with you permanently and makes you more untrustworthy.
This is what you need to consider when monetising TikTok
When you earn money, you have to pay taxes. It doesn’t matter at all what amounts you earn and through which channels.
- If you are not yet of age, your parents must also sign for contracts, as you do not yet have legal capacity
- It is best to register a trade if you want to earn your living as a creator. Initially, you will be exempt from VAT.
When filing your tax return, you can claim expenses and costs, but you also have to declare profits. After a few years, the tax office wants to see profits so that it is not dismissed as a hobby.
You can register a trade with your city or local government.
- If you make a lot of money, it might be worthwhile to place ads on TikTok.
- You will get a separate tax number from the tax office if you have registered a business. In any case, it is advisable to consult a tax advisor for your first tax return.
