Why You Shouldn’t Trust #TaxTok: The Dangers of Online Financial Advice
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Why You Shouldn’t Trust #TaxTok: The Dangers of Online Financial Advice
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Finfluencers are everywhere — TikTok, Instagram, YouTube, Reddit — offering quick “tax hacks” and confident advice. But should you really be making financial decisions based on a viral video? In this episode of Plant Grow Reap, Chelsea unpacks why social media tips (and even AI tools) can be risky when it comes to tax and compliance.
From handbags-as-laptop-bags to “guard dog” deductions, we explore real-life examples flagged by the ATO, the legal and financial consequences of getting it wrong, and why context is everything. You’ll also learn how to filter online advice, spot red flags, and know when it’s time to call in a qualified professional.
Because when it comes to your livelihood, trending content isn’t a substitute for tailored, expert advice.