Tax expert Ed Slott explains why following some tax advice on TikTok could lead to an IRS audit. Jack Shannon, Morningstar Research Services’ senior manager research analyst, pits the valuation of privately held ByteDance against publicly traded rivals Meta and Snap.

How are Companies like ByteDance Valued?

Why Valuations Matter

ByteDance and Tech’s 2023 Rally

TikTok, Meta, and Snap

TikTok’s Business Risks

The “Unicorn of all Unicorns”

IRS Releases Memo About TikTok Trend

Audit Warning

What the TikTok Trust Promoters Are Getting Wrong

How to Protect Yourself

Read about topics from this episode.

How Mutual Funds Are Valuing TikTok, Twitter, and Other Private Companies https://www.morningstar.com/funds/how-mutual-funds-are-valuing-tiktok-twitter-other-private-companies

The Best and Worst Mutual Fund Bets of the Past 25 Years https://www.morningstar.com/funds/best-worst-mutual-fund-bets-past-25-years

IRS Chief Council Memo https://www.irs.gov/pub/lanoa/am-2023-006-508v.pdf

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3 of the Best Robo-Advisors, and One of the Worst https://youtu.be/BSoSdJdUFKU?si=4K7BciRIHIq7Run9

Stocks to Consider as the U.S. Pushes to Reclassify Cannabis https://youtu.be/fME1Oyit2CY?si=XbvRY1fz-etDjn4o

Read what our team is writing:

Ivanna Hampton https://www.morningstar.com/authors/2399/ivanna-hampton

Jack Shannon https://www.morningstar.com/authors/2372/jack-shannon

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TikTok: Risky Tax Advice and Supersize Valuations 23:49 Share

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TikTok: Risky Tax Advice and Supersize Valuations