YOUTUBE TAXES Explained! 10 Tax Tips for YouTube Creators!
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- Опубліковано 28 тра 2024
- UA-cam Taxes can be complicated. Both Small UA-camrs and Full-time UA-camrs struggle with UA-cam Taxes and understanding paying taxes on their UA-cam Money. I've partnered with TurboTax Self-Employed to help you better understand UA-cam Taxes on your UA-cam Earnings, Brand Deals, and Affiliate Marketing Revenue.
#UA-camTAXES #TAXES #AD
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0:20 Does UA-cam Take Out Taxes for You?
1:29 Can You Deduct Purchase for UA-cam From Your Taxes?
2:00 How Much Do You Need to Earn to Pay UA-cam Taxes?
2:59 What I Can You Deduct From Your UA-cam Taxes?
3:34 How Much Money Do You Need to Set Aside for UA-cam Taxes?
4:28 Should You Pay UA-cam Taxes Quarterly or Yearly?
5:08 Do You Need to Set Aside Money Besides UA-cam Taxes?
6:10 Do I Need to Incorporate as a Business?
6:40 How Should You Separate Business from Personal Finances?
Many UA-cam Creators don't know if they need to pay taxes on UA-cam Ad Revenue. The short answer is YES. You do need to pay UA-cam Taxes and you have to pay taxes on UA-cam income from Brand Deals and on Affiliate Marketing Income.
UA-cam Income Taxes represent self-employed income, your UA-cam Taxes are not taken out for you by UA-cam since you are not a UA-cam Employee. UA-cam Adsense earnings are reported on a 1099 form you receive for your UA-cam monetization earnings and you will be filing a 1044 Tax for or a Schedule C.
**Disclaimer: I am not a Financial Advisor or Licensed Tax Professional, this information for entertainment and education purposes only. Please consult a licensed financial professional.
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Roberto Blake is a Creative Entrepreneur, Keynote Speaker and UA-cam Certified Educator. He is the founder of Awesome Creator Academy and Host of the Create Something Awesome Today Podcast.
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#QOTD: What Do You Want to Know About UA-cam Business?
Try TurboTax Self-Employed intuit.me/2KMk5rk (Sponsored)
00:00 Intro
00:20 Does UA-cam Take Out Taxes for You?
01:29 Can You Deduct Purchase for UA-cam From Your Taxes?
02:00 How Much Do You Need to Earn to Pay UA-cam Taxes?
02:59 What I Can You Deduct From Your UA-cam Taxes?
03:34 How Much Money Do You Need to Set Aside for UA-cam Taxes?
04:28 Should You Pay UA-cam Taxes Quarterly or Yearly?
5:08 Do You Need to Set Aside Money Besides UA-cam Taxes?
06:10 Do I Need to Incorporate as a Business?
06:40 How Should You Separate Business from Personal Finances?
GREAT info for UA-camrs!
Thanks 4 sharing!
bold subject too -- taxes! ack! unavoidable
Hello Roberto,
If I have a cooking channel I do want to remodel my kitchen and buy new appliances, can I deduct 100% of these expenses when I file my taxes?
Thank you!
Does one need a business license to to start up an online UA-cam or affiliate marketing business or after you start making more than a $1,000?? I’m learning as much as I can to successfully start my own UA-cam videos without any issues down the line.
Has someone who has filed UA-cam taxes for over 5 years I can attest all these tips are legit.
Thank you!
did you incorporate?
I need help bro
I'm gonna watch this a couple times.. I need to absorb all this info. Thanx.
honestly same
I saved it to my watch later Playlist when it applies to us more we can go back to it 😊
Whoever is reading this comment right now. I want you to believe in yourself, you can and will do anything you set your mind to!!
Thanks 😊
Thank you! I am trying to get my channel going for a long time now but I only have 70 subscribers after like 4 years and I'm about to just give up on it. As small a gesture this was it helps me. I'm sorry if this is hard to read I have traumatic brain injuries and can't think straight to type it right. Thank you again!
As a 17-year-old who's never had a job and never paid taxes..... I'm so confused
i think you're supposed to enter your parents tax information but you loose so much money through that because yt thinks you have another job even tho it's your parents job if yk what i mean?
Ivona Marina about how much do u lose
Ivona Marina about how much money would you say?
Ivona Marina omg I’m going to get monitezed but I’ve never done taxes I will have to put my parents
wow such fun in Canada it’s a extra 15% and in USA it’s 24% and it adds on ur parents my dad owns a store so it adds up to 30% of his money Taken away if I wanted to do this
Such great tips! You sounded like a CPA Roberto. For anyone overwhelmed by this, the important points are to keep all income and expenses related to UA-cam in a separate bank account, using separate debit or credit cards dedicated to UA-cam Expenses and keep all receipts. If you do that any book keeper will sort it out for you. Just hand over the monthly statements plus all receipts. Keep those receipts for a minimum of 3 years, sometimes longer!
Amazing comment thank you.
He’s kind of contents. The world truly needs.
🙏🏾🙏🏾
Happy to have found this channel. Spent 70k out of my own money for UA-cam and wish I knew I could have written it off. 🤦🏻♂️
Talk to your accountant and if you're doing your taxes yourself now is the time to stop...
Thank you Roberto! I didn't even think about taxes. I'm not there yet. But, God willing I will get there. These tips will help me to stay organized and to keep taking UA-cam seriously. I've always used Turbo Tax. They have not failed me yet.
Thank you!! I had no idea about SEP IRA. I’d wondered what else to do for something like that. Just shows you don’t know what you don’t know.
Great advice on all the others stuff, too. I do that already but I’m gonna go check out the SEP IRA! Thanks, Roberto
Thank you for always being so helpful Roberto! I needed this 😩🙌🏾
Notif gang! This is an important topic that I haven’t really considered much of lately, thanks for the awesomely helpful insight yet again roberto😁🙏🏻 keep it up
This is gold! Thank you so much! This year is the year I make enough to worry about taxes from freelance / UA-cam! Cheers 🥂
I just found your account and want to thank you so much for this video! This helped me so much!
Love your channel. Just getting started with UA-cam. Monetized one channel, working on this one...your videos have been a nice guide.
Thank you! This was needed!
Really Needed this video! Thanks Roberto!
Thanks so much for making this after fielding the tweets as well. Much appreciated. :)
Thank you for all this information!
As a CPA, I think you are giving sound advice. All monetized creators should certainly consult with a CPA/tax accountant.
Thank you so much for this explanation .
THANK YOU for some seriously helpful videos, as usual
This is what I will need once I start getting paid from UA-cam. Another helpful and informative video. Keep it up!
Love your channel. Very helpful
Thank you! Very helpful.
You’re the best!! this was informative and concise 💃🏼💯
I searched the whole month to get that informatin everywere i just get it here.Thank you so much for doing that video and your helpfull explanation.From France.
Excellent Video! No nonsense and very informative. Thank you!!
Thank you Great straightorward.
Thank you for this video!
Good advice! I have been doing things almost exactly how you stated! Nice video!
You can be an LLC and register as an S-Corp with the IRS. You can also pay in to the IRS as you earn. There is an IRS app so that you can pop into the app on the day you get your UA-cam "check" to make a payment. For some people, this is a great tool. Get it paid right away to avoid mishaps. :)
Loving the Dave Ramsey Total Money Makeover book on your desk!
Knowledge.
Thanks for sharing this Roberto!
You explain this so well. Its so hard to explain to people how all this works.
Fantastic video that answered all of my questions. Thank you!
Love that you’re covering such an important topic 💙💙 taxes are something that freak me out about getting into UA-cam.
Very informative. You explained everything so well.
This is very helpful Roberto (just like your other videos). Thanks!
Question #11 - Should I be using a monthly Profit & Loss Statement for my YT business? YES!!! Solid video man - very well done. Why in the world would anyone give this content a “👎”?...I saw four. Sheesh 🙄
Thanks for these tips and advice 🤙🏾
this video is super important thank you
Great content man appreciate it 👍🏼
Fell like you made this for me i appreciate it so much. Giving it a few watches to make sure i got it.
Always great info Roberto! I will have to save this in my important folder list. 😎👍
Thank U......explained very well!!
Thanks for all the information
This was very useful thank you good sir!
This is great ! Thank you!!!
All good to know!
In at least the US, if you set up your account on AdSense as a business, you have to have a business bank account and an EIN to get paid anything anyway, so be sure to set that up!
That’s a good point
Hi there, May I ask a question that if I‘m just a person of Adsense account, is there any difference with business one?
Strange.... I didn't hook up a business account. It never asked me for that, & I still get paid, with a personal normal bank account
@@HiChinachannel I'm wondering too
Fantastic video. Thank You!!!!!
This was very helpful and also very organized like your communications skills
Great advice! Especially about having a separate account for the tax money. Thanks for the video!
I keep records separate. I also incorporated my business. Great video Roberto. Precise too!
Fantastic! Thanks so much!
great video! thanks!
Nice video and great tips. This is going to come in handy as my channel grows, so thank you Roberto.
Thank you!
amazing video thank you!
Thank you for this informative video, it really helped a lot!
Thanks for the help.
Good information to know. Thanks Roberto.
I loved this as a person working towards making a living off youtube! This was extremely helpful thank you!
This was a really great video. Thanks!
Thank you for this straight forward video sir.
You’re welcome ☺️
Best video ever. Nice info. Helped a lot.
Well explained. Got my like.
I was scared to even imagine monetizing my channel, but if YT sends me a 1099 form and all I really have to do is give that to my tax representative then that's such a relief (of course id take the convert to business advice if I ever get that far 😅)
I opened an LLC and it helps lots.
Better to treat it as a business instead of a hobby. In the US a hobby doesn't allow you to claim expenses.
Great video brotha.. as I grow my channel this is great advise to consider. 🙌🏾🙏🏾
all these are really good ideas/ thanks Black.
thats good info thank you
Thanks for sharing
Great advice Roberto! I’m starting to make some money on my channel now so this is becoming increasingly relevant for me.
Good vid man!!
This is huge! Not a lot of people really talk about the other end of YT income. Appreciate the content and definitely holding on to this vid when Desi Dad Reviews has a strong enough fan following to be monetized!
Hi Roberto. This was very informative. Thanks a lot.
It is very nice explanation. Thanks
Very helpful stuff roberto keep on keepin on my brother🙏🙏🙏
This answers a lot of questions I had. Thanks for this!
Very welcome!
WOw superb and interesting content Thanks for sharing buddy
Thanks sir this is realy helpful for me. 👍👍👍 God bless u
Hi from England, to Roberto and everyone else. Love this channel. Roberto is awesome. I was so exhausted the other day. I just couldn't stay up for the live. Hope to make the next one Roberto.
Going to try to do them earlier
Such valuable tips, thanks Roberto! My plan is to formulate a strategy and expand my knowledge on this and other business topics regarding my channel so I can hopefully turn it into something profitable by the end of the year :) more videos like this are very welcome!
WOW! I just started my channel Five days ago and thanks for the information.
Great video - thanks!
Glad you liked it!
Cool tips here thanks
Very well explained
Great video! My taxes are a mess and my CPA hates me lol!
If you're paying that bill I'm sure they are okay lol
This is fantastic! I am about to be monetized and you answered all the questions I had!
thanks for the great tips! Would you recommend starting off as a sole proprietor/dba or starting off with an LLC classified as S-corp for better tax deductions ?
Thank you sir you really helped me at this time I’m on ssdi but I’m considering making content in the future and you never know if I could be a success so this made me feel a lot more comfortable.
Your B-roll of a drawer full of Washingtons. Solid.
Thank you
😌 took your tips and been great
4:08 ... LOL 😆, that video clip was funny 🤣
At this point if you have a UA-cam channel and you're *not* subscribed to Roberto? You're doing yourself an injustice. Sub to this cat right meow.
I hit 20k on my main account all from the advice of this man. Don't know how he hasn't hit 1 mil yet with all the upcoming youtubers.
@@rogalos2459 Algorithms. 🙄
Facts!
I agree
Roberto Blake never disappoints! Easily one of the highest quality channels on UA-cam😊
*GREAT CONTENT*
thanks man