YOUTUBE TAXES Explained! 10 Tax Tips for YouTube Creators!
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- čas přidán 6. 06. 2024
- CZcams Taxes can be complicated. Both Small CZcamsrs and Full-time CZcamsrs struggle with CZcams Taxes and understanding paying taxes on their CZcams Money. I've partnered with TurboTax Self-Employed to help you better understand CZcams Taxes on your CZcams Earnings, Brand Deals, and Affiliate Marketing Revenue.
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0:20 Does CZcams Take Out Taxes for You?
1:29 Can You Deduct Purchase for CZcams From Your Taxes?
2:00 How Much Do You Need to Earn to Pay CZcams Taxes?
2:59 What I Can You Deduct From Your CZcams Taxes?
3:34 How Much Money Do You Need to Set Aside for CZcams Taxes?
4:28 Should You Pay CZcams Taxes Quarterly or Yearly?
5:08 Do You Need to Set Aside Money Besides CZcams Taxes?
6:10 Do I Need to Incorporate as a Business?
6:40 How Should You Separate Business from Personal Finances?
Many CZcams Creators don't know if they need to pay taxes on CZcams Ad Revenue. The short answer is YES. You do need to pay CZcams Taxes and you have to pay taxes on CZcams income from Brand Deals and on Affiliate Marketing Income.
CZcams Income Taxes represent self-employed income, your CZcams Taxes are not taken out for you by CZcams since you are not a CZcams Employee. CZcams Adsense earnings are reported on a 1099 form you receive for your CZcams 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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#QOTD: What Do You Want to Know About CZcams Business?
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00:00 Intro
00:20 Does CZcams Take Out Taxes for You?
01:29 Can You Deduct Purchase for CZcams From Your Taxes?
02:00 How Much Do You Need to Earn to Pay CZcams Taxes?
02:59 What I Can You Deduct From Your CZcams Taxes?
03:34 How Much Money Do You Need to Set Aside for CZcams Taxes?
04:28 Should You Pay CZcams Taxes Quarterly or Yearly?
5:08 Do You Need to Set Aside Money Besides CZcams Taxes?
06:10 Do I Need to Incorporate as a Business?
06:40 How Should You Separate Business from Personal Finances?
GREAT info for CZcamsrs!
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 CZcams 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 CZcams videos without any issues down the line.
Has someone who has filed CZcams 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 😊
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 CZcams in a separate bank account, using separate debit or credit cards dedicated to CZcams 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.
Loving the Dave Ramsey Total Money Makeover book on your desk!
Knowledge.
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
I just found your account and want to thank you so much for this video! This helped me so much!
Thank you for always being so helpful Roberto! I needed this 😩🙌🏾
This is gold! Thank you so much! This year is the year I make enough to worry about taxes from freelance / CZcams! Cheers 🥂
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
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 CZcams 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
Love your channel. Just getting started with CZcams. Monetized one channel, working on this one...your videos have been a nice guide.
He’s kind of contents. The world truly needs.
🙏🏾🙏🏾
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
Thanks so much for making this after fielding the tweets as well. Much appreciated. :)
Really Needed this video! Thanks Roberto!
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!
Thank you for all this information!
THANK YOU for some seriously helpful videos, as usual
Love your channel. Very helpful
This is what I will need once I start getting paid from CZcams. Another helpful and informative video. Keep it up!
Thank you! This was needed!
Good advice! I have been doing things almost exactly how you stated! Nice video!
Love that you’re covering such an important topic 💙💙 taxes are something that freak me out about getting into CZcams.
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 🙄
You’re the best!! this was informative and concise 💃🏼💯
Thanks for sharing this Roberto!
Thank you for this video!
As a CPA, I think you are giving sound advice. All monetized creators should certainly consult with a CPA/tax accountant.
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.
Thanks for these tips and advice 🤙🏾
You explain this so well. Its so hard to explain to people how all this works.
Great content man appreciate it 👍🏼
Happy to have found this channel. Spent 70k out of my own money for CZcams 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...
Wow. Very helpful. Thank you!
Always great info Roberto! I will have to save this in my important folder list. 😎👍
This is very helpful Roberto (just like your other videos). Thanks!
Very informative. You explained everything so well.
Excellent Video! No nonsense and very informative. Thank you!!
Fell like you made this for me i appreciate it so much. Giving it a few watches to make sure i got it.
This was very helpful and also very organized like your communications skills
This is great ! Thank you!!!
Fantastic video that answered all of my questions. Thank you!
Thank you for this informative video, it really helped a lot!
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!
I keep records separate. I also incorporated my business. Great video Roberto. Precise too!
Nice video and great tips. This is going to come in handy as my channel grows, so thank you Roberto.
I loved this as a person working towards making a living off youtube! This was extremely helpful thank you!
Good vid man!!
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!
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
great video! thanks!
Thank you for this straight forward video sir.
You’re welcome ☺️
Great advice Roberto! I’m starting to make some money on my channel now so this is becoming increasingly relevant for me.
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
Great advice! Especially about having a separate account for the tax money. Thanks for the video!
Thank you so much for this explanation .
Great video brotha.. as I grow my channel this is great advise to consider. 🙌🏾🙏🏾
Well explained. Got my like.
This was a really great video. Thanks!
Fantastic video. Thank You!!!!!
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 CZcams "check" to make a payment. For some people, this is a great tool. Get it paid right away to avoid mishaps. :)
This answers a lot of questions I had. Thanks for this!
Very welcome!
Hi Roberto. This was very informative. Thanks a lot.
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.
Thanks for all the information
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 😅)
This was very useful thank you good sir!
Best video ever. Nice info. Helped a lot.
this video is super important thank you
amazing video thank you!
Thank you Great straightorward.
Better to treat it as a business instead of a hobby. In the US a hobby doesn't allow you to claim expenses.
Very helpful stuff roberto keep on keepin on my brother🙏🙏🙏
all these are really good ideas/ thanks Black.
Fantastic! Thanks so much!
Good information to know. Thanks Roberto.
Thank U......explained very well!!
Great video - thanks!
Glad you liked it!
This is fantastic! I am about to be monetized and you answered all the questions I had!
WOw superb and interesting content Thanks for sharing buddy
Great info! Just subbed!
What was the most helpful thing in the video?
@@RobertoBlake How I should set money aside for taxes, fees right off the top of each paycheck. The importance of having 2 separate bank accts.
Thank you!
thats good info thank you
This was a very great and informative video!
I just started out with my channel and it's not monetized yet therefore I have not incorporated a business yet. I guess I have two questions here: Should I consider incorporating a business before making any money off of my channel? And is all the equipment I have bought so far tax-deductible when my filing status is "married filing jointly" without incorporating a business?
Roberto Blake never disappoints! Easily one of the highest quality channels on CZcams😊
*GREAT CONTENT*
Your B-roll of a drawer full of Washingtons. Solid.
thanks man
Thanks for sharing
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 ?
Not monetized yet but definitely good to know information ahead of time..THANKS
Can you deduct say laptop purchase for making youtube videos if you are not monetizing yet? Thanks.
WOW! I just started my channel Five days ago and thanks for the information.
It is very nice explanation. Thanks
Great video!
Thanks for the help.
1:29 Can You Deduct Purchase for CZcams From Your Taxes?
note: To be deductible, a business expense must be both ordinary and necessary. Roborto did a great job explaining this. An ordinary expense is one that is common and accepted in your trade or business. A necessary expense is one that is helpful and appropriate for your trade or business.
Mr Beast is writing off CRAZY things because that is ordinary for him. it will depend person to person and business to business. Gaming channels can deduct purchases of video games while other types of youtubers might not be able to.
What type of write offs does he have
This is a video you need to watch all the way through. Each tip is vital to keeping your taxes in order for your CZcams business. I'm 100% with keeping separate accounts for taxes and expenses.
I opened an LLC and it helps lots.
Separate bank accounts at the very least. That is SO important and simple and I am blown away how many people don't even get that one done. PLEASE PLEASE at least do that.