How Do Taxes Work On YouTube? (simple)
⭐ Subscribe to Clickbait to learn how to become a social media millionaire: https://applecrider.com/clickbait ⭐ If you are making money on YouTube, you have to pay taxes. But it's not just that simple. There are different types of income you can get on YouTube with different tax consequences and tons of tax deductions that YouTube creators are able to take. Let's simplify all of that.
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YouTube has given thousands of young influencers the ability to make some serious money on the platform. This is great! But many of these creators have no idea what the tax consequences of that money are and as a result, they might actually be breaking the law.
In this video, I'll be breaking down exactly how taxes work on YouTube, the types of taxes you owe as a YouTube creator, and how much those taxes actually are.
If you know nothing about taxes, you'll come out the other end of this video feeling confident you know what you're doing (and maybe a little upset at the size of your tax bill).
Enjoy!
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TIMESTAMPS
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00:00 - Intro
01:17 - YouTube Ads
03:50 - Sponsorships
06:51 - Merchandise
08:49 - Deductions
11:42 - How Are YouTube Earnings Taxed?
12:41 - Federal Income Tax
16:38 - Self-employment Taxes
18:21 - Final Thoughts
20:35 - Outro
