Lawyer Explains NEW YouTube TAX Changes 2021
VloĆŸit
- Äas pĆidĂĄn 16. 05. 2024
- Oh NO! NEW CZcams TAX Changes in 2021!?! Yep ... in this video, I explain CZcams tax and the new CZcams taxes change, starting as of June 1, 2021. Maybe you did not know that there is tax on CZcams income. It's entirely possible, especially if you are one of millions of creators OUTSIDE of the United States. Many of my creator-clients had no idea about tax on youtube earnings. Yesterday, I met with a creator client who told me there was no tax on CZcams money. That's wrong. There are taxes on CZcams money, and it's only going to get WORSE. But I have a solution for you! Watch today's video to learn the answers to: What are CZcams taxes? Why do I have to pay the US taxes on my CZcams money? And how do I enter my tax information into Ad Sense? At the end of this long CZcams tax update, you will be FULLY briefed on CZcams tax information.
---------------------------------------------------------------------------------------------------------
CRUCIAL LINKS:
đŽ Upcoming tax impact for creators outside of the U.S.: support.google.com/youtube/th...
đ U.S. tax requirements for CZcams earnings: support.google.com/youtube/an...
đĄ IRS Publication 515 (really boring): www.irs.gov/pub/irs-pdf/p515.pdf
đą Tax Treaty Tables: www.irs.gov/individuals/inter...
---------------------------------------------------------------------------------------------------------
CHAPTERS:
0:00 Ian Corzine Lawyer Explains NEW CZcams TAX Changes 2021
0:37 What Are CZcams Taxes?
1:37 WARNING! Tax Info Required for ALL Monetizing Creators OUTSIDE of the United States
2:33 WHY Has CZcams Made These NEW CZcams TAX Changes 2021?
4:04 HOW NEW CZcams TAX Works
7:28 HOW Will I Be Taxed If I Have A CZcams Business?
8:17 Can I Deduct CZcams US Taxes From Taxes of My Home Country?
9:04 Does CZcams Withhold Taxes From My Ad Sense Revenue?
10:09 HOW Will I Be Taxed If I Have a CZcams Business Account
10:36 HOW Will I Be Taxed If I Have a CZcams Individual Account
11:35 How Do I Save Taxes on CZcams with Foreign Nation Tax Treaties?
12:25 IRS Publication 515
12:55 IRS Tax Treaty Tables
15:41 How To Submit CZcams Tax Information
---------------------------------------------------------------------------------------------------------
CHECK OUT My đGREATEST HITS VIDEOS!âïž - CLICK HERE âĄïž: âą What CZcams's Not Tel...
đ„ Check out my videos on COPPA đ„CLICK HERE âĄïž: âą What CZcams's Not Tel...
-----------------------------------------------------------------------------------------------------
AUDIO MUSIC & SOUND FX: Thanks Epidemic Sound! for âGimme Thatâ by Katnip.
-----------------------------------------------------------------------------------------------------
The content of this CZcams channel is provided for informational purposes only and is not intended to constitute legal advice. You should not rely upon any information contained on this CZcams channel for legal advice. Viewing this CZcams channel is not intended to and shall not create an attorney-client relationship between you and Ian Corzine or West Corzine, LLP. Messages or other forms of communication that you transmit to this CZcams channel will not create an attorney-client relationship and thus information contained in such communications may not be protected as privileged. Neither Ian Corzine nor West Corzine, LLP makes any representation, warranty, or guarantee about the accuracy of the information contained in this CZcams channel or in links to other CZcams channels or websites. This CZcams channel is provided "as is," does not represent that any outcome or result from viewing of this channel. Your use viewing of this CZcams channel is at your own risk. You enjoy this CZcams channel and its contents only for personal, non-commercial purposes. Neither Ian Corzine, West Corzine, LLP, nor anyone acting on their behalf, will be liable under any circumstances for damages of any kind.
© 2021 Ian Corzine. All rights reserved.
#youtubetaxes #youtubetax #iancorzine - VÄda a technologie
Are you FRUSTRATED with CZcams's NEW TAX scheme? Do you have any questions about how it works? Let me know below!
Out side USA.... these folks getting an opportunity for tax return because they are not necessarily right. Employers are never right within the US, IRS never exactly right...so now do they have the ability to file income tax return to get the constant F- up back???
I AM NOT CZcams MATE SO THIS LAW MEAN NOTHING TO ME ONLY DO THIS FOR FUN
Even small youtubers have to do this too ? :)
By the way, I'm malaysian youtuber :)
Old systems, old currency, old thinking.
CZcams monetization is just a convoluted mess.
Thankyou! What does 0ss mean in the tax treaty table, I live in france by the way!
Thanks Ian for doing this video! Iâm going to check out the table in a minute. I live in Canada...3 things that are concerning here.
1) @95 percent of my viewers are from the US
2) CZcams already takes 30% from super chats and memberships. THEN there will be another 24 percent withholding tax on top of that...THEN I pay the Canadian government @30% for a grand total of 84%? Leaving 16%. How is that right? Or perhaps Iâm misunderstanding đ€đ€
3) When this amount is withheld(if applicable), it will then also mess with taxes in our own country when we file. Our âGrossâ income will now change when submitted. Not good.
I hope this is not the case...however, I learned a valuable lesson here...never put your eggs all in one basket. đđŒ Pretty scary to have income vanish in an instant.
P.S. just had an idea for my next video ...âNext, on itâs a crimeâ...đ
Ha! I'm glad I gave you fodder for the next one! Yep, that appears right, but check and see with your local accountant whether you can get a credit against your Canadian taxes for the taxes you pay to US.
I just filled out mine too, I'm from Canada and wondering if you figured it out?
Based just on the table in the document in the video, Canada has a treaty of 0%
Hey @It's A Crime, 2 points:
1. so when checking the table Canada has a treaty with the US and has a 0% with holding in the royalties/copyright column. You will by now also know (cause you've submitted your tax info to YT, right?) that because after you submit our tax info in YT and click all the proper boxes and enter your country, it TELLS you that you will be at a 0% tax rate. Yipeeeeee right!?
lol
Soooo for you, that should mean that you'll keep 100% of your US viewer generated revenue (apart from the super chats and memberships). Correct?
Therefore a calculation for you might more likely look like:
" CZcams already takes 30% from super chats and memberships. THEN there will be 0 percent withholding tax on top of that...THEN I pay the Canadian government @30% for a grand total of 60%? Leaving 40%."
This is ALSO assuming that your super chats and memberships account for the largest part of your US income. What if your super chats and memberships are, say, 50% of your US revenue and 50% comes from ads.....the 50% fro ad will have a 0% tax rate.
Side note: super chats and memberships revenue! (Good for you! ...we don't have that yet, what the heck IS it!?!? haha)
2. and separately, if you are running your YT channel as an individual it CAN get tax expensive! If you don't NEED the income, or all of it, from your channel to live on, you could incorporate into a business and run your channel as a business. Businesses in Canada are only taxed at 14%. Then you only withdraw from the business what you need to live on (yes, at your personal tax rate! But the idea is that your business already or WILL start to earn more than you need to live on and so you can keep the spread on your business account and not pay as high of taxes on it.)
Thanx for the video. I can't seem to find the information... Can you pls inform me if South Africa has a treaty? đ
Hi Ian, thanks so much for breaking this down for us.
I have an extremely specific question regarding this. Iâm originally from a country that DOES have a tax treaty with the US (grants 15% withholding tax) but I currently reside & pay tax in a country that does NOT have a tax treaty (30%).
So from what I understand, Iâd have to submit my tax information according to the country I currently pay tax in, and thus be ineligible for the treaty benefits. Is this correct?
Thanks again.
Yes, absolutely
What about Royalty payments and tax withholding:
Hopefully the new plataforms hurry up and become more accesible. So we can leave Google behind.
It's an uphill battle but surely they are trying. I think the community needs to start searching for an alternative.
If the company is in the US it will be the same thing
I hope you can answer my question Jason! My tax account said my CZcams income is not Royolatiy income because I am still working on my channel and running it myself. He said once I stopping working on it, anything after that is considered royalty . but again since I am still running the channel my self he said this is active income not royalties. Do you know how that works?
Hello,
What about creator inside USA ?
I am here because I just received an email from CZcams today. From what I understand from your explanation (and I hope I understand it correct), meaning I may not affected by this tax issue since I have only few subscribers, small viewers and not even from US viewers. Thank you so much for this clear information.
Hi, I have a question
I need to put in my TIN-number but I am not 18+ Do I have to put in MY Tin-numer or the tin-numer of my parents?
Matijn ASMMR
Your TIN is your Social Security Number
If you live in the UK do you have pay any tax at all if you fill in the form of tax treaty and also what would you do if you move locations ?
I'm far from my channels being monetized but this is already weird.
Yes, please make a video about the tax difference betwween an individual account and a brand account. I have 4 channels and I remember I HAD TO make them brand accounts (even though I do not own a company). Even now I tried to create a new channel and it said ''To create a new channel, create a Brand Account''.
Thank you for explaining this.
What if I have an AdSense, but I am not part of the partner program anymore since Feb 2018 when CZcams changed their policy?
Hello Ian, can you deduct business expenses and ultimately reduce you tax?
Thank you very much, Ian, This was really, really helpful. You explained it clearly, unambiguously and honestly, and I salute you for that. My wife and I responded to this YT alert right away and managed to submit a W-8 BEN form and until seeing your video we were scared that we had done somethin wrong or unnecessary, because at first we understood that instead of 24% we would be taxed at 30% rate after submitting the form.
But now I realize that we in fact did the right thing, because it's waaay better for us to pay 30% taxes on just views from US viewers than to pay 24% on WORLDWIDE viewers!
So, yes, this is a huge blowback for my fellow non-US youtubers but, fortunately for me, not so huge for youtubers whose content is in local language and targeted almost exclusively at non-English speakers.
By the way, I would also appreciate any recommendation for an alternative platform similar to CZcams for "just in case".
Once again, thank you for a really fine piece of explanatory video!
Hey Goran -- I'm glad you got some value out of this. Yeah, some CZcamsrs are not catering to US viewers anymore. A platform that pays right off the bat is Rumble. My friend and fellow lawyer, Viva Frei, is killing it there. Check out his channel here: rumble.com/user/vivafrei
Thank you Ian â€â€â€â€â€
It makes absolutely zero sense for those in countries other than the US to have to pay US taxes.
As for anyone in the US...
Unless pay is coming from an EMPLOYER, taxes can not be withheld. Tax information, including SSN, can not be insisted/required. Any other type of income, most especially CZcams - which is considered self-employment, is 100% the responsibility of the individual.
The final fact, is...
CZcams is not the IRS and can not legitimately change anything tax/IRS related.
CZcams is in violation of the law. They simply have to be.
- However, question...
What if I've registered an LLC (and/or a trademark) strictly for personal protection - not an actual business - and thus file personal taxes as an individual?
Exactly, agree with you 100%. In fact, Iâve been hearing from some people that their countries government are not happy about their citizens being charged US tax just because they have people in the US watching their content. I can see Google being taken to court over this, and I hope they do. Itâs none of the US governments business what a non US citizens tax information is.
Fo' sho', with one exception. It's not the US government doing this to those in other countries. It's CZcams.
hey quick question about this my AdSense revenue was paid as royalties and im not sure this is normal but trying to figure that out is a bit difficult. also I have a cpa that is telling me because it was paid as royalties I cant deduct all of my CZcams expenses if you can shed light on this I would appreciate it.
I know this is a really old video... but does that mean I need to lodge two tax returns annally, one for the country I live in and one in the U.S? It's all very confusing. Or do I just need to do the W-8BEN form and thats it?
Great video. But question, does the deadline also apply to creators not yet monetised and in the partner program yet? Would we have to set up an Adsense account ahead of time and submit the info regardless?
No. Only applies if you're being paid by YT
Does it mention up to what amount is it going to take it from?
Any news on Croatia, how much % should I give uncle Sam??....thanks in advance
Thank you, great explanation! Sadly the place I live doesn't have a tax treaty with the US so 30% of the income from US viewers will be gone lol. I will continue uploading to CZcams, didn't make much before this anyways đ
Sorry to hear that
Hei. I had earned some money in 2020 as a private outside USA, but now Its a busness with a licens 2021. How I m to collect my tax info? as a private or as a busness ?
thank you for complete detail
Glad it was helpful!
Informative video thanks
I would really like to know if there is any for Jamaican creators, because this tax is crazy for small creators who struggle to get to the threshold on a monthly basis.
Jamaica is 10%
@@yoursocialmedialawyer Thank you đđœ and does it apply it automatically after I've submitted my information? Because I submitted without applying for the treaty.
so i live in egypt and it has like a tax treaty thing but it says in order to get that tax treaty benefit i need to enter "foreign TIN" and i dont know what that is and no idea how to even get it...or do they give that treaty benefit according to my address ?
TIN is Tax ID Number -- only if you have Egyptian corporation -- if you are individual, you should not have to enter that
Hi i manage an account for my church (non-us) All payments go to their charity box. What to choose then? The account is in their name (Church's name) and I don't know what info to add.
Should I choose "entity" instead of individual?
Hi, this is a great question. I would love to help out and answer any questions you may have! I have a LIVE Q&A show this Saturday.
You can drop your questions and concerns on my LIVE show and TUNE IN. Kindly check this link to get a notification.
facebook.com/yoursocialmedialawyer/posts/1231061260678010
can someone please tell me how much i'm required to pay as a UK Citizen.
Do I have to do anything for the treaty thing? Or do they do it for you, I submitted all the info needed and was approved but nothing about the treaty came up. Where do I check the % of what's being withheld?
Hi, this is a great question. I would love to help out and answer any questions you may have! I have a LIVE Q&A show this Saturday.
You can drop your questions and concerns on my LIVE show and TUNE IN.
Kindly check this link to get a notification.
facebook.com/yoursocialmedialawyer/posts/1231061260678010
Hi ian, i just want to know what is the difference between W8BEN and W8ECI and what will I use, some say for Individual choose 8ECEI so we dont have tax, somesay choose 8BEN for Invidual with 15% tax. btw im from the Philippines
im in philipines also if you learn more please tell me they are taking 30% from me
Wait so I live in Switzerland.
Did I see that right? there's 0% copyright witholding? So I keep all the money?
Yay!
@@yoursocialmedialawyer Oh wow! Well, that's great I guess!
@Juan Grate Not at all. We apparently have a treaty with the US that allows us to not have to pay any %
Do you know how expenses will work now that CZcams is reporting payments as royalties?
Sounds like this is to move the "paying tax" part from Google to creators. We all know that Google will go to very questionable lengths to not to pay taxes. Like, aren't EU creators dealing with Ireland version of Google because of the Google not wanting to pay normal rate taxes? And if EU creators are dealing with Company in the Ireland, why are we messing with US taxes?
No this will have zero impact on Alphabet's taxes. They can deduct 100% of advertising fees paid to content partners regardless.
Please sir make video on CZcamsr making videos with funny ads. Is there any kind of copyright? Thanks
Does this effect even those who doesn't have ads at all on their videos?
Only affects creators who are paid anything by YT
Why are they not paying this "U.S. taxes" with the 45% they are already taking from our revenue. I mean, wouldn't that be the right way?
Yeah, that would be nice.
Well, itâs CZcams.
Thanks a lot.
Most welcome!
Hey so this applies only if I'm monetized right? Like if my channel booms later then I have to submit my tax info at that moment?
Excellent question.
@Exploring ISRAEL's History hey check the comment below with 8 replies that clears some of the stuff the one by Saurabh Srivastava
Yep -- YT will only withhold money, if you're paid money by YT
@@yoursocialmedialawyer thanks man
Hi Ian, thanks for the really helpful video youâve made! Iâve got a question: Iâm from Canada content creator business account and yesterday I filled up my tax info and submitted it (I used to searched such a video like yours but I didnât find) and I think I gave them wrong info because I didnât choose treaty option and now I wanna do a new tax form - is it good or not? Which one they gonna consider? Thanks though
Submit a new form. It will replace the last submission. You can do as many as you like.
@@yoursocialmedialawyer â€ïžThanks Ian, I apreciated
@@yoursocialmedialawyer Hi again Ian! I got one more question: if you got multiple channels on the same google/adsense profile based on the same e-mail once you filled out the tax form it will apply on any channel but only for these who are connected in adsense? Thank you
You just saved me a lot of money. Thanks mate
Hi, I just started CZcams( like a month ago), I'm not even close getting 1k subs and 4k watch time.. But let's be brave and assume I will have that in a year...What should I do? Can I apply earlier or the same month when I start having AdSense? I'm really confused đ
Hi Ian, thanks for this valuable video. I'm living outside of US and I have a US LLC(Sole Prop.). I'll open a Business Adsense Account. I'll pay my whole taxes to the US Government. My bank account is in US as well. May I ask you that, should I fill all address sections with my US LLC address. There is nothing about my resident country here but just because of I'm living outside of US, I'm worrying to do something wrong on the Adsense/CZcams entry level. In this situation, should I enter any information about my resident country? All are gonna operate in US. Thank you so much.
Hey Can. Determine the address you submit by which country has the lowest tax rate
@@yoursocialmedialawyer Thanks Ian.
How will taxes work for Americans living in Canada (soon to be dual citizen)?
It's not clear -- YT rules appear to provide that if you're not creating in the US, then your income will get withheld. I will update you.
They are clearly characterizing adsense revenue as royalty payments subject to US withholding tax of 30%. This would be a good reason to have a company in one of the handful of countries with a 0% royalty rate under a US Double Tax Treaty. This means Georgia, Hungary, most of the CIS countries, Luxembourg, and Ireland are looking good. A few of the countries in the 5% withholding rate like Barbados wouldn't be horrible either. If you could get the right banking for a Georgian Free Zone Company that would be idea, assuming you can get effective banking for the company, but with any of these scenarios your mileage may vary depending on your country of residence and it's CFC rules. A nice territorial tax country with no CFC rules becomes really attractive in that scenario.
Im really confused rn, do we just have to pay taxes from our youtube revenue or money outside of youtube?
YT WITHHOLDS taxes from what they pay you. If you make $100 on YT, and are taxes at 30%, then YT gives you only $70
@@yoursocialmedialawyer ohhh i thought they take taxes from money u have made outside of yt ty
@@yoursocialmedialawyer
So just for clarification, is the 30% automatically taken out like taxes from a regular paycheck so that you donât have to worry about owing the IRS or, are you responsible for saving the tax money yourself and paying the lump sum at the end of the year??
Thank you so much.
You're welcome!
If I fill this tax info, do I have to send yearly an W-2 tax return form as if I'm living in the U.S?
Hi, this is a great question. I would love to help out and answer any questions you may have! I have a LIVE Q&A show this Saturday.
You can drop your questions and concerns on my LIVE show and TUNE IN.
Kindly check this link to get a notification.
facebook.com/yoursocialmedialawyer/posts/1231061260678010
Please when your filling out your name on the "W- 8BEN" form. Do you put your CZcams Account name or your Legal name? Please help.
Legal forms require legal names.
Great Channel by the way. So where it indicates zero, as in UK creators, does it mean no taxes to be paid ? Thanking you for your video & for replying
Thanks! Yep
Iâm kinda confused :/ because I just got monetized this month and IDK how much Iâm actually making so what do I do?
âThe more 24% you pay, the more 76% you get!â đ
Thanks for the video. This new tax thing is often misunderstood.
This is a crystal clear explanation.
đ
Boom!
I closed my AdSense account removed all ads from my videos and removed my banking info. I can still view my earnings page even though the account is closed I have some earnings waiting to be deposited to my bank which I'm not going to bother with. Can youtube still tax me after I've cancelled everything? I just don't think it's right to pay taxes for a country that I don't live in and have no interest going to
What happen if you don't make any money form youtube do you still have to do it or is when you hit the youtuber program
Nope -- no worries then
What about UK creators? Any treaties? đ§
Yes, UK tax payers pay 0%
Arturas is 100%
what if you from a country thats not eligible for youtube partner program but change your youtube location to a country eligible how does that affect the tax situation?
Hi, this is a great question. I would love to help out and answer any questions you may have! I have a LIVE Q&A show this Saturday.
You can drop your questions and concerns on my LIVE show and TUNE IN.
Kindly check this link to get a notification.
facebook.com/yoursocialmedialawyer/posts/1231061260678010
i dont monetize my videos since i cant but what do i do
am i safe until i start monetizing?
I think this for any revenue on CZcams. If you arenât making money at all on CZcams, this doesnât affect you.
Not living nor working in US still need to bare the Tax? doesnt sound reasonable nor logic at all. If using their browsers or app enables them to tax us base on country origin of manufacture, means other app would tax us? In my opinion it wont make sense at all unless i misunderstood something
Honestly at this point if I were an overseas creator I would probably seek to enjoin both Alphabet and the IRS from characterizing an advertising service provided through my channel or since this is AdSense via my website participating in their advertiser's program as anything other than a service fee not subject to withholding. I mean, if you are doing the work outside the US you have no permanent establishment in the US & you are actively involved in positioning ads on your video if you choose to be, and more importantly your content is licensed to CZcams royalty free pursuant to the terms of the licensing agreement. You only get to provide a service as part of their advertising partnership if you choose to participate in the service after meeting criteria they have for such individuals.
If CZcams decided that they have no intention of paying you anything for content, and keeping all of the ad revenue they post on your content, they can do so. They do not have to pay you a royalty to use your content under the terms of their TOS. To categorize a service fee paid to partners subsequently as a royalty is to make their advertising agreement worthless.
my US$100 was every 50 to 33 months (US$2 to US$3) was below reporting threshold.
Will they backdate this or is it just from now onwards?
Hi, this is a great question. I would love to help out and answer any questions you may have! I have a LIVE Q&A show this Saturday.
You can drop your questions and concerns on my LIVE show and TUNE IN.
Kindly check this link to get a notification.
facebook.com/yoursocialmedialawyer/posts/1231061260678010
@@yoursocialmedialawyer I recently got a payment and it's just from now on and not backdated.
Non-Americans should created another Video website.
Unfortunately the one that one there is... Not something anyone wants to use.
What about the creators who are in the US and are earning from India? Are they gonna pay us 15% for our viewership? We are earning as long as they want us to earn, they can take all that away in a blink of an eye.
If they are a US citizen no matter where they live they have to pay taxes to the US government
Hi, this is a great question. I would love to help out and answer any questions you may have! I have a LIVE Q&A show this Saturday.
You can drop your questions and concerns on my LIVE show and TUNE IN.
Kindly check this link to get a notification.
facebook.com/yoursocialmedialawyer/posts/1231061260678010
It definitely puts me off. Time is valuable and if itâs time consuming, problematic or difficult, people will invest their time elsewhere. I can see an opportunity for accountants to manage tax submissions for people abroad and give recommendations for ways to diversify with, for example, investment strategies. Iâm in Australia and I see I would have a 5% tax rate for US generated income due to the treaty.
Yes, it puts me off, too. At least your tax rate is a lot less than 24%!
I'm not eligible for monetization but I think big. So a question arises: if the US can tax nou US citezen for revenue that comes from US why EU should not do the same with every US company that make huge profits from EU?
WHY should a german youtuber pay taxes for what he earns from US but an US creator doesn't pay same amount for what he is earning from Europe? I'm wondering if this is even legal in The US and also world wide. CZcams isn't a state institution so with what authority can collect taxes for US Government? Also what right does have a PRIVATE COMPANY from US to collect personal information from the citizen of other countries? I think that European Union should intervene in this and do something about it.
Zero income that means I donât no need to submit or file income tax.
It is not hard to find the benefits of US tax treaties with any country. Google "US Corporate Withholding" go to the PWC aka Price Waterhouse Cooper's site that will come up in the results. You will find the US treaty withholding rates for all countries, be it dividends, interest, or royalties as the case may be here. If your country has a double tax treaty as discernable by the information on that page -except the CIS aka former Soviet Union countries that have not executed a new double tax treaty, the US, but not all of those countries treat the US/USSR treaty as operating, you can Google "your country's name and the USA double tax treaty" a pdf of the full text will be available on the IRS website. Most of them are pretty straight forward. You need to look at the residency clause and the permanent establishment clause. Then in this instance the royalty section will apply. Most of the treaties, but not all, follow a fairly boilerplate format from the OECD. The big exception is the US/USSR treaty. I mean it was a capitalist country negotiating with the leading communist country at the height of the cold war. It is a very different tax treaty.
My CZcams channel has not fulfilled 4k hours watch time and 1k subscribers yet. I had created an adsense account before but I don't have any sites or channels linked. Do I need to fill the us tax info on adsense? Or can I fill it later when my channel gets monetized, which may be after 31st May? If I can fill it later can the tax be reduced that time? Someone please reply I'm so confused.
What benefits can I get from the tax I pay if I am not a US citizen ? Health care? đ
Adsense is doing the same thing for ad revenue from blogs and other sites.
Can I use my parents information?
Should be able to use your own SSN
It shouldn't say paid to viewers of the u.s.a when the IRS is the one collecting not the viewers.
What happens when you join CZcams after the tax info submission is done?
Hi, this is a great question. I would love to help out and answer any questions you may have! I have a LIVE Q&A show this Saturday.
You can drop your questions and concerns on my LIVE show and TUNE IN.
Kindly check this link to get a notification.
facebook.com/yoursocialmedialawyer/posts/1231061260678010
@@yoursocialmedialawyer Thank you, I will check it out later!
What if all the countries will do same and deduct taxes like US?
And I don't have to worry about tax info yet because I don't qualify to be a CZcams partner yet? Unfortunately lol đ
they could still inject ads on your videos under the new policy
"CZcamsâs right to monetize: CZcams has the right to monetize all content on the platform and ads may appear on videos from channels not in the CZcams Partner Program.
"
What about the Swedish content creators?! ..If anyone knows, i sure whould appreciate an answer.
Tax Treaty Tables say 0% for you!
@@yoursocialmedialawyer Thank you!
Today is May 31st 2021
It is ironic that I live outside of the US and have to pay tax on US generated revenue when Google only paid about 0.055 per cent of the estimated gross ad revenue âextractedâ from the New Zealand market.
yup CZcams is violating the rules
Doesn't the tax thing include super chatting and stuff like that so if i donated 100$ the streamer would get only 26$ of the 100 you blew on them because the tax stacks with what goes to CZcams, but if you used a third party app to try and loop around the tax and youtube taking it for themselves by direct donating does that count as tax evasion because you're actively trying to avoid paying google and the 24% tax and the streamer you just payed gets 100% of your money like you want
I'm sure that's a dirty way to donate but hey the mega corp is dirty too so touché
Great question, I had no clue only 24% of your super chat dontion went to the person...that just sucks idea of having to "get around", getting around Google BS should not be a tax avoidance but you trying to get your actual "gift" to the actual creator because it is mega corp, irs, dirty to be taking 76% and now try to withhold from the 24%, just something wrong...the comication makes it shady..should be simpler
@@patricialynveal4017 i mean trying to get around google taking whatever they feel like and the government taxes and giving the streamer 100% of what you want to give them
If you're a non-US creator and someone in the US super chats you $100, then YT takes its $30 cut. If the applicable tax rate is 24%, then you make $53.20 ($70 X .24 = $16.80 | $70 - $16.80 = $53.20). I gave you this rudimentary break-down, but let me remind you that when I took the job of Your Social Media Lawyer, I was told that there would be no math.
What about someone who started CZcams channel after 31 may
Same my channel has 36 subs so later if I boom and get monetized what happens?
@@ChinmayKalapur oh yeah lol
After May 31st, you will have to complete in the form or you will not be monetized
@@ParamariboCloser ohk
@@ParamariboCloser okay so at that point it's all about completing the form as soon as your a CZcams partner and can monetize through Adsense? đ€ Could you get Adsense before coming a partner?
3:19 I am a content creator too. But, let's put my view here. First thing nobody, literally nobody should even pay single cents to USA saying tax. Seriously, everyone is so ok coz most of the content creators from developed country or large nations are so called tax deducted. It is like you are discounted or don't even have to pay the amount you don't really need to, even legally.
The analogy of USA for online platform like CZcams and considering CZcams as an organization where content creators are their employee is totally absurd. Content creators are neither CZcams employee nor the investors on their business where USA can tax as income tax or dividend tax. CZcams partner means we are agreeing their terms where they can put ads on our videos. Since, this is global internet where the rules are created by the Internet itself and not by freaking specific US government. CZcams takes 45% a single US entity and US is fine and individual content creators cranking day and night making hard for living takes 55% which sounds higher than Google but it is by individuals across the globe.
Let's say, business is setup or some one invests in US business or works in USA going there where they get facilities provided by USA then it would make sense to cut taxes but here we are the reason CZcams a US company even existing. Ad clicking is not what US people are giving us money. It is an ad click and advertisers may be from any world clicking from any country. And they tell USA money is being taken and claiming they are getting ripped off. Then how about CZcams taking 45% and keeping it in USA itself from around the world?
Most of the lawmakers are old and that's fine but these lawmakers are so much dumb that they compare traditional business which needs physical presence and business terms to the global online platform. USA should be happy that they are getting reputation and importing money through CZcams in their country and not rip off individual content creators. Their tax treaty is just dumb in this CZcams. Direct product sales and money collection only by targeting USA would be understandable but this is global Internet. By the way USA is democratic country. But, let's not forget too that it is the brutal capitalist country. They will make others suffer and later help them and show that they are admirable modern country. Well, this line was for US government.
This might have started after work from home. Since, both looks the same, the one who works as an employee for an organization/business. and the one who follows Internet as well a company that connects the world, bring money to US and in return gives their content creators/ CZcams partner a price they deserve.
Trust me Capitalism will eat Capitalism first and the it will eat Democracy later. No need for explanation but you will see in near future.
Paying tax is good thing but make it clear and easier for people cause not all are lawyers or they have that much information which you just giving us. Thanks for the video cause soon Iâm opening my channel đ đ on the time. đđ love from India.
Great more monry taken from Creators
I don't think I would go away from youtube because it will take time to build a community even on a different site. But this isn't good
My question is since a few last years laws for creators and social media are getting more and more strict WILL it get any better or is it gonna get worse
Typical lawyer answer ... worse
@@yoursocialmedialawyer well that was kinda the answer I was expecting no offense. I mean there's nothing we can do except hope for it to get better
Freaking taxes man :(
Death & ...
@@Geraza just wait US EU are negotiating a big tech digital tax, this could prelude to the new taxation
@@ErikPT taxation is theft
Thank you for reviewing these new tax changes. Is Paypal off topic for you? Papal refuses to list their own charges when they provide a year end statement if you are an eBay Seller. I have a 501c3 non profit eBay store using Paypal. For the past 2 years PayPal provides a year end statement yet fails to list their charges, bloating the Year End potential tax consequences for the Seller..
What about all the USA EXPAT'S living Iin the PHILIPPINES>>>Do they get taxed only on VIEWS from Americans or also from PHILIPPINE VIEWERS?
According to the letter of the CZcams rules, CZcams will withhold the tax from US viewers. I am not sure what the tax laws are in the Philippines. I would check with a local CPA.
The PH gov't doesn't tax foreigners...
I began to fill in the form, until I hit the questions about treaties. For what I get in revenue from my tiny, 8-year-old channel, it isn't worth the time or anxiety to deal with even that one question. So, for me, the decision was easy - I have removed all content from my channel. Not in protest, necessarily, but because it just isn't worth it.
I am Canadian, but I'm far away from monetizing. Why can't I give my tax info and be recorded as being covered by the treaty? Amazon lets you do this, before earning a single dollar.
Hi, this is a great question. I would love to help out and answer any questions you may have! I have a LIVE Q&A show this Saturday.
You can drop your questions and concerns on my LIVE show and TUNE IN.
Kindly check this link to get a notification.
facebook.com/yoursocialmedialawyer/posts/1231061260678010
If youtube wants to reclassify income earned as royalties, does that not make youtube a publisher? If not, is youtube a 3rd party that makes use of your content for a profit in which they pay out a royalty for that content? If so, who is the main party responsible in the case of copyright infringement? Is the onus not on youtube?
Or let me put it this way, if someone were to pass off something as there own, one that was created and copyrighted by another party, and you were to make use of that material and pay them (the ones who stole the material) royalties to use that thing and then you get hit with a copyright strike from the actual rightful owners, are you supposed to be able to just shirk that and pass it along to the party that tricked you? Or do you have to take up that legal battle and then proceed to go after the party who had falsely used that material under a separate case. Or can you just go, not my problem, take it up with these scammers over here, as youtube seems to do with their content creators.
Let me get this straight ...... if your channel earnings is about 8000 and your channel only getting 50 from the US out of your 8000 ..... google is going to hold 2400 of your money because you didn't submit your tax info to them? if you submit then they only tax you 15 out of that 50?
That's about right
I've just started mukbang asmr channel on youtube. After seeing your video here, i'm starting to lose interest on youtube. i'm really shocked. 30% tax! WTF man. This is really killing my mood to create and post more content on youtube. I wish another video platform similar to youtube (which will be better and more interesting) come out soon. If they taxed 1%, I'm ok with that. But it's not, it's 30%! Thats a lot. This is not cool. CZcams is getting more and more greedier.
I was waiting for this it became 30% for us Filipinos even if we put treaty it still became 15%.
Hey Joyce. That really stinks ... maybe it's time to start a foreign corporation to own your channel??? If you want to talk more about this, get on my calendar for a consult here: iancorzinescheduling.as.me/ian
Hello po! Paano po kapag wala pa po akong TIN, pwede po ba gamitin TIN ng kapatid ko?
Just glad i am not monetised ...but at least in the UK it is zero.
True
In The UK you still pay taxes ! over any given amount by the UK government, there is no escaping it especially when you use any social media platform you want fame pay the taxes like we all do .
If I don't have a TIN, can I submit the TIN of my relative?
Hi, this is a great question. I would love to help out and answer any questions you may have! I have a LIVE Q&A show this Saturday.
You can drop your questions and concerns on my LIVE show and TUNE IN.
Kindly check this link to get a notification.
facebook.com/yoursocialmedialawyer/posts/1231061260678010
I don't know Ian my friend, its like nowadays regular person has to be a lawyer, accountant, business advisor, and all this other shi* just to be able to do something online, idk what is this but its nonsense across the board.
I am not employed by Google yet I have to pay taxes, makes no sense for them to look at internet and CZcams as regular job when our earnings fluctuate every single day, we don't have stable income, nor are our leaves/vacations/hospital visits payed for, nor will we get tax returns or any benefits that US tax payer has.
This is just, In my HONEST opinion, a major loophole that they decided to abuse and it will turn ugly once every country decides to do the same.
What hurts the most is I know where this money will go, towards wars they created.
Yeah, you said it. These rules are complicated, they purposely don't make it easy.
100% that's what I'm not getting. You're not employed by Google/CZcams, you BRING IN revenue to CZcams with the content you create but they're going to tax your earnings(on top of what they already take out) as if you're an employee without actually working for them or getting any benefits like working a regular job. It makes no sense!!!