What Does Phantom Tax Mean on TikTok? Fanum Tax Meaning
Generation Z people are confused by all the new memes that are suddenly becoming popular, especially those from Generation Alpha, who were younger than them and were born in the 2010s.
They're worried that they might not be cool anymore. One of the latest memes confusing everyone is called "Fanum tax."
A TikTok user named Anthony Mai recently shared a video where he admitted he didn't understand what "Fanum tax" meant.
He's worried that he and others might not be keeping up with what's trendy online. His video got 3.7 million views.
So, what exactly is the "Fanum tax?" You might be wondering. We'll do our best to explain it in simple terms.
What Does Phantom Tax Mean?
In general, phantom tax or phantom income happens when you have to pay taxes on the growth of your investments or the profits they make, even if you have yet to cash out or receive the money.
It can happen with different assets, like stocks, bonds, or property when their value increases over time.
Phantom income happens when you get taxed for your share in a partnership, even if you don't get any money from it.
For instance, phantom tax can occur in situations like;
- When you're in a small partnership,
- if you're not married but still have benefits,
- when you're forgiven for debts,
- if you have bonds that don't pay interest upfront if you own part of an S corporation or LLC,
- or when you're investing in real estate.
This phantom income can be a problem because you might have to pay taxes on things you didn't get, surprising you. Now, let's move on to the Phantom tax, a.k.a Fanum tax, which went viral on TikTok.
What Does Fanum Tax Mean in Slang on TikTok?
Fanum tax started as a funny idea from a creator who joked about taking some of his friends' food. It all came from Fanum, a comedian in Kai Cenat's group AMP.
He used to playfully "tax" his friends' food by grabbing a bit while they ate, as noted by KnowYourMeme.
This joke caught on, especially among younger people, but some, like Mai, didn't know about it.
One of the reasons why the term exploded on TikTok is because a catchy song. The song "Sticking Out Your Tongue for the Rizzler," also called the "Fanum tax" song, started from a TikTok on October 2.
In TikTok, a Fortnite character pretended to sing the song. Many other TikToks have used the song since then, like one made by a user named @papaboy020, where a Roblox character dances along.
This song introduced unknown internet slang, including "Fanum tax," which left many people confused.
Even after watching explanations, some new listeners still didn't get it. While they might understand other memes like "Skibidi toilet," "Fanum tax" remains a mystery to many.
The result is that some people on TikTok are confused by the internet slang words used by Generation Alpha.
They've even made fun of it. For example, one video imagines kids on Roblox singing a silly song. Another video shows someone pretending to be a kid who talks annoyingly with lots of internet slang.
Some people on TikTok are telling Gen Z off for making fun of Gen Alpha memes. One posted a video saying, "Let's not treat Gen Alpha the way Millennials treat us. You don't have to laugh at every internet joke. Not finding it funny doesn't mean you're superior to Gen Alpha."
Now, you are one step closer to Gen Alpha!
Phantom or Fanum tax is an internet slang term that's all about wanting a bite of your friend's food. It's like saying, "Hey, can I snag 5%, 10%, or even 20% of that deliciousness?"
The Fanum tax creates laughter and confusion for each generation. It brings together people of different ages and starts talking about what's cool and what's not.
As you move through the web of online trends, remember that getting each other's jokes works both ways. So, whether you're joining in on the newest trend or feeling confused, enjoy it, and don't overthink!
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