15d • General discussion
Important Tax Info
Hey so - when you get monetized (and you will) make sure to set aside some cash for taxes, as you'll get a 1099-MISC and if you didn't choose to withhold any (which I'm pretty sure isn't even an option with a MISC) then you'll owe money come tax time.
Rule of thumb is about 25-30% per paycheck that you won't touch until tax time. It seems like a lot, and tbh it is, but it is side hustle money afterall, and until you go all in on YouTube as a primary source of income you won't be able to deduct most things as business expenses - so they do gut you a bit come tax time.
(not a tax expert please consult one before taking any/all of this advice)
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Important Tax Info
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