Guide to Understanding YouTube Taxes - #69

Treyton DeVore
February 4, 2023

Welcome to The Loaf - making money & business more approachable for self-employed creatives & freelancers

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Money: YouTube Taxes & Write Offs: Explained [article]

I know this is relatively niche, but a lot of the article applies to anyone who's self-employed.

If you take a few minutes to understand the basics, I promise that taxes (and personal finance in general) will make a lot more sense.

There are several visuals throughout the post, such as:

A few key points of the article:

  • Knowing what expenses you can write off

  • Understanding YouTube's tax requirements

  • How self-employed taxes work

  • Tax forms you should get from YouTube

  • How to estimate taxes on YouTube income

Read the full article (and get access to a free tax calculator)

🗓 this week

Friendly money & business reminders for self-employed creatives

✅ Review January's spending

Why? Part of building a healthy relationship with your money is regularly checking in on it. Take 15 minutes this week to do one of two things:

1) If you already use an app to track your spending - like YNAB or RocketMoney - go in and look at your income and expenses from last month. Afterwards, ask yourself if your spending & savings rate aligned with where you want to be financially.

2) If you don't use a tool to track your spending, I highly recommend RocketMoney. It feels like it was built by Apple and I wrote a review of my experience & how I use it here. It keeps track of your income, expenses, subscriptions, net worth, and more. Set it up, connect your accounts, and let it start tracking.

Bonus - If you have business banks, set aside 15 minutes to categorize January's transactions in your accounting software. If you keep it up-to-date, it never becomes unmanageable.

Create a "wins" folder

Why? It's hard to remember the accomplishments and kind feedback when you're constantly working

• Inspired by Jerine Nicole, I created a simple folder that I keep screenshots & notes to remember the good things that have happened along the journey - it's helped tremendously:

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🎥 Watch: An interesting story about the history of fonts

✍🏼 Freelance Finds: When does a freelancer need business insurance?

Thanks for reading 🖤

Treyton DeVore

treytondevore.com​

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