Tax payment

Hi everyone, could you tell me about paying tax on these videos, is it my responsibility ?

Comments

  • Yes it is your responsibility. They don’t send out forms or anything like that. Hope that helps.
  • Oh wow, so, no paper at all? Not even an end of the year earnings report?
  • edited December 2017
    Only started it in march, do you not get anything ?
  • I'm in Canada, although I don't think it matters. But I got notified by PayPal that they are now required to disclose earnings. I have a business account with PayPal. Personal accounts will be close behind.
    I saw an accountant and he told me I can write off part of my mortgage because I have an actual office in my home. Probably everybody does, or could.
    I can also provide receipts for travel and other expenses related to video production. Any electronics purchased that can be used for videos will help offset taxes.
    In short, keep receipts for everything.
    Also, make videos about everything you spend money on.
  • Wow, interesting thank you for that.
  • edited December 2017
    Thank you @DavidMcNab
  • This is my first year as a creator. Im in a mild panic in as far as how to file. I dont want an accountant. My husband wants to use turbo tax as we did when I was a writer. But geez. This is diff and I have incomes coning in from Youtube etc. I wanted to, but I didnt save every single receipt of my expenses but I did log them all. I hope a log "counts" in some way when doing taxes as in the older days. I really had intended on being so careful with receipts but I really got lax and only have some. I got lax because so many of my purchases were on receipts along with personal items or in cash on the fly. Sigh. Lesson learned. It wont happen again.
    Any advice in as far as filing taxes?
  • No I don't I am same as you , my first year doing it but i'm just highlighting the ones on my receipts,because they also have personal items on and putting them in a file and putting it down has expences hahah, anyone that can help ? would be much appreciated .
  • Your earnings graph and payments should be sufficient in proving income.
  • edited December 2017
    Yeah I hope so thanks @brenmichelle
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