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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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21207 No.21207[DELETED]  [Reply] [Original]

Ok /biz/
I have a youtube channel that gave me about $3450 dollars last year (give or take)
>do I have to file taxes?
I'm not sure it this is considered earned or unearned income
Because if it is unearned income, then I have to file taxes according to the RSA since it is more than $1000; otherwise I don't have to

>> No.21335

>>21207
It is internet money, just buy []coins

>> No.21328

>>21207
Yeah you have to file, don't neglect that shit, they WILL RUIN your life over unfiled taxes.

>> No.21364

>>21207
You have to file even if you made zero income. You still have to file.

>> No.21368

>>21364
>>21328
>>21335
daily remainder that /biz/ is not a good place to ask for financial advice

>> No.21377

>>21368
Confirmed for not knowing what the fuck he's talking about.

>> No.21384

>>21377
Confirmed for not knowing what the fuck he's talking about

>> No.21392
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21392

>>21368

>> No.21410

>>21377
http://www.irs.gov/Individuals/Do-You-Need-to-File-a-Federal-Income-Tax-Return%3F-
"Were you self-employed with earnings of more than $400.00?"

OP:
>I have a youtube channel that gave me about $3450 dollars last year (give or take)

3450 > 400

File.

>> No.21408

If you're single and under 65, you don't need to file unless you make $10k a year.

>> No.21405

Google/Youtube will report a 1099-MISC to the IRS with your information if you earn over $600 in the year.

>> No.21423
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21423

>>21364
Except that's wrong.

>> No.21427

>>21410
>Filing youtube dollars
Enjoy getting laughed out of the store when you try to trade 1000 views for a loaf of bread.

>> No.21440

>>21427
The IRS doesn't care. If OP made $3,450 off of his youtube channel last year, then he has to file.

>> No.21463

>>21410
is this considered "self employment"?
I was thinking the same as >>21408
>>21427
>implying I don't withdraw YouTube cash from my ATM to pay for your sister

>> No.21490

>>21463
Well the money comes from ad revenue, doesn't it? Does that make it self employment?

>> No.21576
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21576

>>21490
I guess (I got a form 1099-MISC)

>> No.22612
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22612

>>21440
I've done them...
I was to pay about 300 but was able to reduce it to 0 thanks to some expenses I could write off
that was a close one

>> No.25653

>>21207
How many views did you make to earn over 3000$? What kind of videos do you make? How do you go about monetizing this shit?