Understanding Taxes for Self-Employed YouTubers

[Psytrux]

Thanks for all the help!

 

[MeLikeBigBoom]

This is unbelievably helpful, thank you!

 

[Jack1505]

I don't wanna make youtube my job now...

 

[Kleineganz]

I don't wanna make youtube my job now...

Why not? Taxes are taxes and you have to deal with them one way or another.

 

[Psytrux]

I don't wanna make youtube my job now...

technically you can make more money with youtube because expenses get taken out

 

[Kleineganz]

technically you can make more money with youtube because expenses get taken out

Well, more accurately you pay less in taxes if you expense items you use to make videos. It doesn't really increase earnings.

 

[Psytrux]

Well, more accurately you pay less in taxes if you expense items you use to make videos. It doesn't really increase earnings.

Exactly, I think you described it better then I did xD

 

[MissFushi]

Its sad to see for someone making the hypothetical 1Mil Dollars, they actually only end up getting about half. To me that doesnt make much sense. Its not like that person costs the government more in public services to 'take care of'. Hm. Wonder how it works for Pewdiepie in Sweden and his high earnings. That is a very wealthy country.

 

[Psytrux]

Its sad to see for someone making the hypothetical 1Mil Dollars, they actually only end up getting about half. To me that doesnt make much sense. Its not like that person costs the government more in public services to 'take care of'. Hm. Wonder how it works for Pewdiepie in Sweden and his high earnings. That is a very wealthy country.

Thats mostly due to tax brackets though.

 

[babyteeth4]

Paid well over 5 figures in taxes for 2014, and 2015 looks like it's on pace to exceed 6 figures. Death and taxes, ya know.