YOUTUBE TAXES Explained! 10 Tax Tips for YouTube Creators!

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RU-vid Taxes can be complicated. Both Small RU-vidrs and Full-time RU-vidrs struggle with RU-vid Taxes and understanding paying taxes on their RU-vid Money. I've partnered with TurboTax Self-Employed to help you better understand RU-vid Taxes on your RU-vid Earnings, Brand Deals, and Affiliate Marketing Revenue.
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0:20 Does RU-vid Take Out Taxes for You?
1:29 Can You Deduct Purchase for RU-vid From Your Taxes?
2:00 How Much Do You Need to Earn to Pay RU-vid Taxes?
2:59 What I Can You Deduct From Your RU-vid Taxes?
3:34 How Much Money Do You Need to Set Aside for RU-vid Taxes?
4:28 Should You Pay RU-vid Taxes Quarterly or Yearly?
5:08 Do You Need to Set Aside Money Besides RU-vid Taxes?
6:10 Do I Need to Incorporate as a Business?
6:40 How Should You Separate Business from Personal Finances?
Many RU-vid Creators don't know if they need to pay taxes on RU-vid Ad Revenue. The short answer is YES. You do need to pay RU-vid Taxes and you have to pay taxes on RU-vid income from Brand Deals and on Affiliate Marketing Income.
RU-vid Income Taxes represent self-employed income, your RU-vid Taxes are not taken out for you by RU-vid since you are not a RU-vid Employee. RU-vid Adsense earnings are reported on a 1099 form you receive for your RU-vid 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 RU-vid Certified Educator. He is the founder of Awesome Creator Academy and Host of the Create Something Awesome Today Podcast.
Roberto Blake helps entrepreneurs and social media influencers, through educational videos on RU-vid, motivational content on Instagram and career development advice on LinkedIn, as well as offering 1 on 1 Coaching and a Group Coaching Program.
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Опубликовано:

1 июн 2024

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Комментарии : 494

@RobertoBlake 4 года назад

#QOTD: What Do You Want to Know About RU-vid Business? Try TurboTax Self-Employed intuit.me/2KMk5rk (Sponsored) 00:00 Intro 00:20 Does RU-vid Take Out Taxes for You? 01:29 Can You Deduct Purchase for RU-vid From Your Taxes? 02:00 How Much Do You Need to Earn to Pay RU-vid Taxes? 02:59 What I Can You Deduct From Your RU-vid Taxes? 03:34 How Much Money Do You Need to Set Aside for RU-vid Taxes? 04:28 Should You Pay RU-vid Taxes Quarterly or Yearly? 5:08 Do You Need to Set Aside Money Besides RU-vid Taxes? 06:10 Do I Need to Incorporate as a Business? 06:40 How Should You Separate Business from Personal Finances?

@CoachDeb 4 года назад

GREAT info for RU-vidrs! Thanks 4 sharing! bold subject too -- taxes! ack! unavoidable

@Daniel-wp8ki 2 года назад

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!

@jeanvr777 2 года назад

Does one need a business license to to start up an online RU-vid 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 RU-vid videos without any issues down the line.

@jeremyjudkins 4 года назад

Has someone who has filed RU-vid taxes for over 5 years I can attest all these tips are legit.

@JessicaHicks 4 года назад

Thank you!

@antiheroine3611 3 года назад

did you incorporate?

@RicosRixo Год назад

I need help bro

@1MightyR 4 года назад

I'm gonna watch this a couple times.. I need to absorb all this info. Thanx.

@NatalieMarte 4 года назад

honestly same

@thewaldronfam416 2 года назад

I saved it to my watch later Playlist when it applies to us more we can go back to it 😊

@JFreese 4 года назад

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!!

@JessicaHicks 4 года назад

Thanks 😊

@GLoK-OG 3 года назад

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!

@NatalieMarte 4 года назад

As a 17-year-old who's never had a job and never paid taxes..... I'm so confused

@ivona03 4 года назад

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?

@prada3598 3 года назад

Ivona Marina about how much do u lose

@wowsuchfun 3 года назад

Ivona Marina about how much money would you say?

@tatianasantiago3296 3 года назад

Ivona Marina omg I’m going to get monitezed but I’ve never done taxes I will have to put my parents

@prada3598 3 года назад

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

@SherifaNakalema 3 года назад

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 RU-vid in a separate bank account, using separate debit or credit cards dedicated to RU-vid 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!

@gonrico Год назад

Amazing comment thank you.

@Iamthatiis 27 дней назад

He’s kind of contents. The world truly needs.

@RobertoBlake 16 дней назад

🙏🏾🙏🏾

@NaaSydnia 3 года назад

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 RU-vid seriously. I've always used Turbo Tax. They have not failed me yet.

@UniqueHollins 4 года назад

Thank you for always being so helpful Roberto! I needed this 😩🙌🏾

@SnowyBlizzard 4 года назад

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

@GoodKnitKisses 3 года назад

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

@JohanGavieres 4 месяца назад

Happy to have found this channel. Spent 70k out of my own money for RU-vid and wish I knew I could have written it off. 🤦🏻‍♂️

@RobertoBlake 4 месяца назад

Talk to your accountant and if you're doing your taxes yourself now is the time to stop...

@DudesPod 4 года назад

Love your channel. Just getting started with RU-vid. Monetized one channel, working on this one...your videos have been a nice guide.

@Claire.SageGreenCreative 2 года назад

This is gold! Thank you so much! This year is the year I make enough to worry about taxes from freelance / RU-vid! Cheers 🥂

@nekokarenart 2 года назад

I just found your account and want to thank you so much for this video! This helped me so much!

@BecomingBossC Год назад

As a CPA, I think you are giving sound advice. All monetized creators should certainly consult with a CPA/tax accountant.

@LifewithAaronArnold 4 года назад

Really Needed this video! Thanks Roberto!

@BlueEyedBabe03 10 месяцев назад

Thank you for all this information!

@-sewratimes5543 3 года назад

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.

@KendrickHarrisKenfinity 4 года назад

This is what I will need once I start getting paid from RU-vid. Another helpful and informative video. Keep it up!

@DarkBlueNutrition 4 года назад

Love that you’re covering such an important topic 💙💙 taxes are something that freak me out about getting into RU-vid.

@CowPunFun 3 года назад

Thanks so much for making this after fielding the tweets as well. Much appreciated. :)

@AMBERMANIYA 3 года назад

Thank you! This was needed!

@Heyitsjoshuaa 3 года назад

You’re the best!! this was informative and concise 💃🏼💯

@XtraHoneyy 4 года назад

Love your channel. Very helpful

@YellowProductions 3 года назад

Loving the Dave Ramsey Total Money Makeover book on your desk!

@Blackfeet 3 года назад

Knowledge.

@MicroInvestor 3 года назад

You explain this so well. Its so hard to explain to people how all this works.

@JillianAnderson 3 года назад

Excellent Video! No nonsense and very informative. Thank you!!

@DoodleOnAMotorcycle 3 года назад

THANK YOU for some seriously helpful videos, as usual

@Grog 3 года назад

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 😅)

@myrhev 4 года назад

Better to treat it as a business instead of a hobby. In the US a hobby doesn't allow you to claim expenses.

@sevenzenhair67 4 года назад

Good advice! I have been doing things almost exactly how you stated! Nice video!

@JessicaHicks 4 года назад

Wow. Very helpful. Thank you!

@onebighoax 3 года назад

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 RU-vid "check" to make a payment. For some people, this is a great tool. Get it paid right away to avoid mishaps. :)

@FilipinotasteRecipe 2 года назад

Thank you so much for this explanation .

@user-eb7zg9bj9l 10 месяцев назад

Fantastic video that answered all of my questions. Thank you!

@Rmcbeatz. 3 года назад

Thank you for this video!

@mmalaguena16 3 года назад

Very informative. You explained everything so well.

@Financial_Awareness 4 года назад

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 🙄

@KevinandLizGrogan 4 года назад

This is very helpful Roberto (just like your other videos). Thanks!

@SherifaNakalema 3 года назад

I keep records separate. I also incorporated my business. Great video Roberto. Precise too!

@JustFrugalMe 4 года назад

Thanks for sharing this Roberto!

@Joeelectronicschematicsforauto 3 года назад

This was very helpful and also very organized like your communications skills

@Stasiiiaaaa Месяц назад

This is great ! Thank you!!!

@Gnarfield_ 3 года назад

Fell like you made this for me i appreciate it so much. Giving it a few watches to make sure i got it.

@Sagatta32 Год назад

Thank you Great straightorward.

@LayzeLyfe 2 года назад

Always great info Roberto! I will have to save this in my important folder list. 😎👍

@500MilesCanada 3 года назад

Great advice! Especially about having a separate account for the tax money. Thanks for the video!

@kayess6527 3 года назад

Thanks for these tips and advice 🤙🏾

@DoXavieraFavor 3 года назад

I loved this as a person working towards making a living off youtube! This was extremely helpful thank you!

@DesiDadReviews 4 года назад

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!

@TimAndrews Год назад

Great content man appreciate it 👍🏼

@KevWright 4 года назад

Nice video and great tips. This is going to come in handy as my channel grows, so thank you Roberto.

@MTGJosh Год назад

This was very useful thank you good sir!

@ASMRSilentStocks 3 года назад

this video is super important thank you

@HB-kp6rl 3 года назад

Thanks for all the information

@kimberlyfogalun-filtered6466 Год назад

Fantastic video. Thank You!!!!!

@WickedGamerCollector 3 года назад

4:08 ... LOL 😆, that video clip was funny 🤣

@WorldWarMilitaryHistory 3 года назад

Thank you for this informative video, it really helped a lot!

@BrianGlaze 4 года назад

Great advice Roberto! I’m starting to make some money on my channel now so this is becoming increasingly relevant for me.

@laffilmfest3759 2 года назад

Thank U......explained very well!!

@12397bmw 4 месяца назад

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.

@Jackpotstat 3 месяца назад

Thank you!

@lopezhotshots6593 3 года назад

WOw superb and interesting content Thanks for sharing buddy

@andy_in_taiwan 2 года назад

great video! thanks!

@BrianneIrene 3 года назад

This was a really great video. Thanks!

@RRRRefuelRideRace Год назад

Well explained. Got my like.

@RoadRunnaReviews 4 года назад

Great video brotha.. as I grow my channel this is great advise to consider. 🙌🏾🙏🏾

@modelchickny 4 года назад

Good information to know. Thanks Roberto.

@SHARONSHORTOrchidsandGarden 2 года назад

Fantastic! Thanks so much!

@kickitwithkol Год назад

WOW! I just started my channel Five days ago and thanks for the information.

@CarsSimplified 4 года назад

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!

@RobertoBlake 4 года назад

That’s a good point

@HiChinachannel 3 года назад

Hi there, May I ask a question that if I‘m just a person of Adsense account, is there any difference with business one?

@Luweezy 2 года назад

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

@Luweezy 2 года назад

@@HiChinachannel I'm wondering too

@Soulcommander 2 года назад

Best video ever. Nice info. Helped a lot.

@carldrickjunatan271 2 года назад

amazing video thank you!

@MitchWestWeather 3 месяца назад

Thank you for this straight forward video sir.

@RobertoBlake 3 месяца назад

You’re welcome ☺️

@TrishaDash 3 года назад

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 ?

@FOASQUAD 2 года назад

Hi Roberto. This was very informative. Thanks a lot.

@joelX 2 года назад

Thanks for the help.

@ScruffyLookinRGB 2 года назад

Very helpful stuff roberto keep on keepin on my brother🙏🙏🙏

@WayneTheBoatGuy 3 года назад

Your B-roll of a drawer full of Washingtons. Solid.

@FunFam_Official 4 года назад

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.

@RobertoBlake 4 года назад

Going to try to do them earlier

@lilafromyoutube 4 года назад

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!

@CarStomIt Год назад

all these are really good ideas/ thanks Black.

@JonWood 4 года назад

This answers a lot of questions I had. Thanks for this!

@RobertoBlake 4 года назад

Very welcome!

@HelloGorgeousbyJenn 3 года назад

I opened an LLC and it helps lots.

@YakMotley 4 года назад

Great video! My taxes are a mess and my CPA hates me lol!

@thompsontaxgroup3850 3 года назад

If you're paying that bill I'm sure they are okay lol

@HeyImDee 2 года назад

Thanks for sharing

@Yellowlab247_NC_Outdoors Год назад

This is fantastic! I am about to be monetized and you answered all the questions I had!

@edupublic3095 3 года назад

Thanks sir this is realy helpful for me. 👍👍👍 God bless u

@omaralexisrodriguez7161 3 года назад

It is very nice explanation. Thanks

@jedhatfield42 3 года назад

thats good info thank you

@nickielee7188 3 года назад

You read my mind once again, I was thinking about this the other day. Get out of my head Roberto! Ha ha

@switchunboxing 2 года назад

Cool tips here thanks

@YTWithJoe 2 месяца назад

Great video - thanks!

@RobertoBlake 2 месяца назад

Glad you liked it!

@CmdrTom 3 года назад

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.

@VroniSummerlin 3 года назад

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?

@sychannel2603 4 года назад

Roberto Blake never disappoints! Easily one of the highest quality channels on RU-vid😊 *GREAT CONTENT*

@MeAndCarKeys Год назад

Thanks for this video!! Very helpful!! Can you discuss the benefits if any to having an EIN number attached to a RU-vid business registered as an LLC?

@thompsontaxgroup3850 3 года назад

Great video!