Understanding Taxes for Self-Employed YouTubers

[Michael]

So what do we do if we're a small channel a network took on, and we make very little?

AFAIK you need to declare the earnings within a tax return, at least in the UK you do.

 

[WillyPapafry]

AFAIK you need to declare the earnings within a tax return, at least in the UK you do.

I'm in the US so i am not sure

 

[Michael]

@Kleineganz I think is from there, she might know

 

[Jackie Pearce]

Thank you for this! Saving for future reference!

 

[Kleineganz]

So what do we do if we're a small channel a network took on, and we make very little?

You need to report all your earnings, from all sources, on your annual tax return. You don't have to worry about quarterly taxes and such until you get to a point where you owe about $1,000 or more in annual income tax. If you don't earn much, just file the Form 1040-EZ.

 

[WillyPapafry]

You need to report all your earnings, from all sources, on your annual tax return. You don't have to worry about quarterly taxes and such until you get to a point where you owe about $1,000 or more in annual income tax. If you don't earn much, just file the Form 1040-EZ.

Ok so when you say self employed do you mean using google AdSense? What if we're with a network?

 

[Kleineganz]

Ok so when you say self employed do you mean using google AdSense? What if we're with a network?

Even when you're with a network - you're not their employee. You are considered a "1099" contractor, which in tax terms means self-employed.

 

[WillyPapafry]

Even when you're with a network - you're not their employee. You are considered a "1099" contractor, which in tax terms means self-employed.

Thanks! I am kind of understanding it now!

 

[Downright]

How does this translate for Aussies not sure if you know or what i should do i dont make enough yet to worry tho

 

[Kleineganz]

How does this translate for Aussies not sure if you know or what i should do i dont make enough yet to worry tho

Sorry I don't have a clue. I only know the US system. If you figure it out, please feel free to share.