YOUTUBE TAXES Explained! 10 Tax Tips for YouTube Creators!

YouTube Taxes can be complicated. Both Small YouTubers and Full-time YouTubers struggle with YouTube Taxes and understanding paying taxes on their YouTube Money. I've partnered with TurboTax Self-Employed to help you better understand YouTube Taxes on your YouTube Earnings, Brand Deals, and Affiliate Marketing Revenue.

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TurboTax Live Self-Employed as an easy solution for filing your taxes and working with credentialed tax experts who can answer your tax questions, give you unlimited advice all year long and help you keep more money in your pocket at tax time.

0:20 Does YouTube Take Out Taxes for You?
1:29 Can You Deduct Purchase for YouTube From Your Taxes?
2:00 How Much Do You Need to Earn to Pay YouTube Taxes?
2:59 What I Can You Deduct From Your YouTube Taxes?
3:34 How Much Money Do You Need to Set Aside for YouTube Taxes?
4:28 Should You Pay YouTube Taxes Quarterly or Yearly?
5:08 Do You Need to Set Aside Money Besides YouTube Taxes?
6:10 Do I Need to Incorporate as a Business?
6:40 How Should You Separate Business from Personal Finances?

Many YouTube Creators don't know if they need to pay taxes on YouTube Ad Revenue. The short answer is YES. You do need to pay YouTube Taxes and you have to pay taxes on YouTube income from Brand Deals and on Affiliate Marketing Income.

YouTube Income Taxes represent self-employed income, your YouTube Taxes are not taken out for you by YouTube since you are not a YouTube Employee. YouTube Adsense earnings are reported on a 1099 form you receive for your YouTube 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 YouTube 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 YouTube, motivational content on Instagram and career development advice on LinkedIn, as well as offering 1 on 1 Coaching and a Group Coaching Program.



Disclaimers: all opinions are my own, sponsors are acknowledged. Links in the description are typically affiliate links that let you help support the channel at no extra cost.

[RobertoBlake]

#QOTD: What Do You Want to Know About YouTube Business?
00:00 Intro
00:20 Does YouTube Take Out Taxes for You?
01:29 Can You Deduct Purchase for YouTube From Your Taxes?
02:00 How Much Do You Need to Earn to Pay YouTube Taxes?
02:59 What I Can You Deduct From Your YouTube Taxes?
03:34 How Much Money Do You Need to Set Aside for YouTube Taxes?
04:28 Should You Pay YouTube Taxes Quarterly or Yearly?
5:08 Do You Need to Set Aside Money Besides YouTube Taxes?
06:10 Do I Need to Incorporate as a Business?
06:40 How Should You Separate Business from Personal Finances?

[jeremyjudkins]

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

[MightyR]

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

[SherifaNakalema]

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 YouTube in a separate bank account, using separate debit or credit cards dedicated to YouTube 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!

[JFreese]

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!!

[YellowProductions]

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

[CarsSimplified]

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!

[NatalieMarte]

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

[BecomingBossC]

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

[myrhev]

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

[GoodKnitKisses]

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

[YakMotley]

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

[onebighoax]

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

[JohanGavieres]

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

[Grog]

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 😅)

[NaaSydnia]

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 YouTube seriously. I've always used Turbo Tax. They have not failed me yet.

[DesiDadReviews]

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!

[Iamthatiis]

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

[DoXavieraFavor]

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

[CmdrTom]

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.