Originally posted to r/NewTubers but someone suggested I post here Instead. Sorry if this question is kinda dumb- bc I am.

Currently I have a small youtube following (less than 1k) But I recently reached 3k on instagram. I want to grow my youtube platform so I can monetize it. Ive also been getting a lot of art commissions recently and making decent money- so the concern of weather or not I’m supposed to be filing taxes on them came up.

I keep finding conflicting articles saying you need a business license to sell art the way I have been, and others saying you need to register as a corporate entity, and others saying as long as your making under a certain amount you don’t need to file taxes at all.

For context, I’m in the US, 18, and have still learned nothing about taxes or how to file them in school. All I’ve got is budgeting despite taking 3 business classes so far. And frankly I don’t even really know what a good recourse would be to learn all that on my own time.

  • Significant-Repair42@alien.topBEnglish
    1·
    1 year ago

    You can usually book an appointment with a CPA to find out what taxes you need to pay. Your city or state probably has a phone line to call.

    Whether or not you want to incorporation (LLC, S Corp, C Corp) may depend on a number of factors. The filing fees can be high for some entities. I think in CA, there is an annual $800 fee for filing as an LLC. So you might want to do some research. A sole prop is also a valid business entity.

    Those people who say ‘you don’t have to pay taxes’ are strange. Like, I have no idea which city or state you are in and know absolutely nothing about your tax situation. That’s like saying you should wear a french braid in your hair everyday, when I don’t know anything about your personal style or even if you have hair. LOL

    There are different reporting requirements for each city/state/federal taxes. In almost every state there are sales taxes that you are also required to collect. If you end up hiring people, there would also be payroll taxes.

    That’s why you need to talk to a tax expert that’s familiar with your area, business type, and you get along with. :)