What EVERYONE Needs to Know About the New Clubhouse “Gifts” Feature (giving money to others)

First, I’m a fan of being able to monetize digital platforms, especially Clubhouse. Having said that, there are issues everyone needs to understand.

Regarding what is happening on Clubhouse, most of the details can be found in your profile. Simply click your profile, click the settings button (top right), drop down to the “What’s New” tab and read. You can also see this post.

During my room earlier today, we had a good discussion on this new update to Clubhouse. The extremely smart lawyers and professionals who joined me on stage shared their thoughts around the following related issues that I think we all need to pay attention to. For the lawyers reading this, you may want to share your recommendations with clients who are using Clubhouse and plan on monetizing the platform.

Issues Recognized and Discussed:

How are our profiles created? As individuals or through our business entities?

Ethics and conflicts of interests issues?

Is the payment an actual gift or is it consideration for value? (substance over form issue).

State/Federal/Bar/Regulatory issues?

State, national and international tax liability issues?

For the lawyers, doctors and accountants reading this post, are you creating an actual attorney/client relationship or the appearance of a professional relationship?

I am a big fan of being able to monetize the Clubhouse platform. However, there are major things for everyone involved to take into consideration including those topics above.

If you have questions, please check with an experienced lawyer and accountant in your state. For purposes of interviews, I’m available to be a guest speaker on your Clubhouse stage if anyone has questions.

Make each day your masterpiece!

Social Media Influencer Liability Safety Tips

Over the years I’ve created and shared a few popular posts and videos to help influencers, agencies and brands make smart online business and marketing decisions. Based upon some of the conversations I have had this week on the new Clubhouse (audio only) platform, here are several posts everyone will find helpful. [see disclaimer as to all content shared at this website]

Social Media Influencer Liability
https://streaming.lawyer/2017/03/14/influencer-liability/

21 Clauses That Should Be In Every Influencer Marketing Contract
https://streaming.lawyer/2018/02/02/influencer-marketing-contracts/

Hashtags No Longer Protect Influencers. Actually, they never did! https://streaming.lawyer/2017/08/04/influencers-hashtags/

Influencer Marketing FTC Update (FEB 18, 2020)
https://streaming.lawyer/2020/02/18/ftc-influencer-marketing-update/

FTC Disclosure Requirements
https://www.ftc.gov/system/files/documents/plain-language/1001a-influencer-guide-508_1.pdf

Influencer Marketing- Tips for Influencers, Social Media Agencies, Brands and Consumers https://streaming.lawyer/2017/05/25/influencer-marketing-tips/

Six Reasons Why My Online Business Friends Need to Incorporate or Become an LLC
https://streaming.lawyer/2017/01/16/six-reasons-why-my-friends-doing-business-online-need-to-incorporate-or-become-an-llc-in-2017/

9 Legal and Entrepreneurial Tips To Help You Start and Build Your Online Business
https://streaming.lawyer/2016/06/27/online-biz/

How To Protect Your Digital ASS(ets) With Estate and Business Succession Planning
https://streaming.lawyer/2016/06/22/digital-assets/

Video: How Brands Can Protect Themselves From Influencer Mistakes, Wrongdoing and Liability (Part 1 of 3)
https://youtu.be/pncOEv_Kzr4

Video: How Social Media Agencies Can Protect Themselves From Influencer Liability (Part 2 of 3)
https://youtu.be/1Mxc2WdZMvs

Video: How Influencers Can Protect Themselves (Part 3 of 3)
https://youtu.be/BguswiHRe3I

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I talk about these, and other issues on my live video shows, interviews and in my Clubhouse Rooms. If you’d like a short text or email update as to when I go live, click here.

Meet Nick Rishwain, LegalTechLIVE founder and VP of Business Development & Relations at Experts.com

The topic is law, tech, client expectations, and what you need to do moving forward in 2021. We go live TODAY at 2pm PDT (5pm ET) on all the top platforms or you can watch above on YouTube or here on Facebook!

Between now and show time, connect with Nick on LinkedIn and over at Experts.com. 

8 Books to Level Up Your Legal Marketing

Social media marketing and branding wiz, Nicole Abboud-Shayan of WordRake, rounded up these highly recommended marketing and business development books written by lawyers that will elevate your law firm marketing efforts. Take a look at the list and let me know which books are your favorites.

Are there other books that you recommend? If so, please share in the comments below. Thanks!

The New “Force Majeure Clause” EVERY Professional Speaker Should Have in His or Her Speaking Contracts

COVID-19 has disrupted the conference and speaking industries as we know them, in 2020 and moving forward. To that end, I’ll be sharing exactly what professional speakers need to know and do with respect to modifying the important Force Majeure clause all speaking contracts (you do use contracts right?) should now include moving into 2021.

Join me live on Monday at 1 pm PST (4 pm ET). Bring your questions!

I’m @mitchjackson on ClubHouse and you can join this show here. Join us!

Post show update: I shared a template clause/provision with my Community via text. If you’re not part of it, join me via 949-577-7456 and hit me up with a text reminder. I’ll send over the password protected post. Thanks! 

HOW MR. BEAST CAN LEGALLY AVOID PAYING UNNECESSARY TAXES

Mr. Beast aka Jimmy Donaldson is killing it on YouTube. I enjoy watching and sharing his content with all my friends. Great stuff Jimmy! You can watch Jimmy’s videos here.

Last night before bed I was clicking around on YouTube and came across this interview Mr. Beast had on the #H3Podcast with @h3h3productions @teddyfresh @HilaKleinH3. The topic was Jimmy’s complicated taxes. Here’s the YouTube link of the conversation.

Truth be told, most business/tax lawyers and accountants would cringe while listening to this conversation. I didn’t. I get it.

Mr. Beast is a creator. He’s doing what he loves to do and there’s nothing wrong with that. He’s pulling in millions of dollars a month from YouTube and the dude is super generous because he’s also giving away millions of dollars in cash and gifts each year on his YouTube channel.

In fact, it’s my understanding Mr. Beast wants to use his wealth to build hundreds of homeless shelters/food banks and give away all the money. That is so cool. Seriously, check out this content– pretty damn impressive and entertaining.

In any case, earlier today on my run I started to think about Mr. Beast and shot this video with my GoPro9. There are so many things that literally jump out at me that he can/should look at, and probably do, that will not interfere with the creative side of his content but will reduce state and federal incomes taxes and maximize the protection of his personal assets (bank account, house, favorite dog) from his business liabilities.

Doing so will allow him to create MORE wealth to donate or give away (BTW, there’s a right and wrong way to do this under the tax code). Hey, when you’re a trial lawyer with 34 years of experience, this is just how your brain works. Sorry not sorry. I’ve even discussed a few of these things over the years right here at my blog. Simply use the search bar for answers.

Hey Mr. Beast, if you haven’t done so already, surround yourself with a good business/tax attorney and CPA. Not only will you protect your wealth and business interests, you’ll also have more options than you ever thought possible and MORE money to give away to the homeless shelters and food banks because you didn’t pay as much in state and federal income taxes. And for the record, I have no problem paying taxes but I personally do wish our governments didn’t waste so much of our money. Maybe that’ll be a topic for another video in the future 😉

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Update- after I shot this video I learned that Jimmy’s multimedia talent management company is “Night Media” which is a creative outpost for the largest creators on the internet. His manger is Reed Duchscher, who’s an impressive dude, so I’m sure Mr. Beast is in good hands and all this stuff is being covered. The idea behind this post is to give creators something to think about and hopefully get them to move in the right direction. You can connect with Night Media here.
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OK. That’s it for now. Everyone please hang in there. I know we’re in tough times. I get that. But, I think it’s important that we all continue to try to move forward, lift each other up, and make each day our masterpiece.

Yours in service,

Mitch Jackson, Esq.
See recommendations/testimonials here