YOUTUBE TAXES Explained! 10 Tax Tips for YouTube Creators!

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Published 2020-05-06

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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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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All Comments (21)

@RobertoBlake 4 years ago

#QOTD: What Do You Want to Know About YouTube Business? Try TurboTax Self-Employed intuit.me/2KMk5rk (Sponsored) 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 4 years ago

Has someone who has filed Youtube taxes for over 5 years I can attest all these tips are legit.
@1MightyR 4 years ago

I'm gonna watch this a couple times.. I need to absorb all this info. Thanx.
@SherifaNakalema 3 years ago

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 4 years ago

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 3 years ago

Loving the Dave Ramsey Total Money Makeover book on your desk!
@GoodKnitKisses 3 years ago

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
@SnowyBlizzard 4 years ago

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
@nekokarenart 2 years ago

I just found your account and want to thank you so much for this video! This helped me so much!
@UniqueHollins 4 years ago

Thank you for always being so helpful Roberto! I needed this 😩🙌🏾
@NaaSydnia 3 years ago

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.
@YakMotley 4 years ago

Great video! My taxes are a mess and my CPA hates me lol!
@DudesPod 4 years ago

Love your channel. Just getting started with YouTube. Monetized one channel, working on this one...your videos have been a nice guide.
@Claire.SageGreenCreative 2 years ago

This is gold! Thank you so much! This year is the year I make enough to worry about taxes from freelance / YouTube! Cheers 🥂
@BlueEyedBabe03 10 months ago

Thank you for all this information!
@DoodleOnAMotorcycle 3 years ago

THANK YOU for some seriously helpful videos, as usual
@LifewithAaronArnold 4 years ago

Really Needed this video! Thanks Roberto!
@NatalieMarte 4 years ago

As a 17-year-old who's never had a job and never paid taxes..... I'm so confused
@KendrickHarrisKenfinity 4 years ago

This is what I will need once I start getting paid from YouTube. Another helpful and informative video. Keep it up!
@XtraHoneyy 4 years ago

Love your channel. Very helpful