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you like YouTube money I like YouTube

money but guess what the government also

likes YouTube money and they want some

of our YouTube money so for starters you

only have to pay taxes if you make over

$600 a year off of YouTube so throughout

the span of 2015 if you made less than

$600 you did not make enough that the

government cares but if you made over

$600 you have to pay taxes okay you have

to pay taxes if you make more than $600

off of YouTube in one year or it’s tax

evasion or whatever something I don’t

know the term now obviously this guy is

gonna be based on the United States of

America because that’s where I live in

America and here we have a tax bracket

system so the more money you make the

more they charge you the more you make

they shouldn’t like I don’t think you

should be punished to make more money

like that doesn’t really make sense to

me you know that doesn’t that kind of

weakens your incentive to do more and

work harder but whatever America for you

so I said that like I like America okay

but anyways if you make less than nine

thousand two hundred and seventy five

dollars a year then you have to pay ten

percent taxes if you make between nine

thousand two hundred seventy five to

thirty seven thousand six hundred fifty

you have to pay fifteen percent and the

more you make it gradually increases

till when you make four hundred and

fifteen thousand dollars if you make

more than that one year you have to pay

thirty nine point six percent taxes to

the federal government now I should say

that that’s not the only tax you have to

pay you also have to pay a Social

Security tax and Medicare tax there’s

this health care surge text or whatever

and then there’s also a state tax so

there’s five different taxes you have to

pay and I’ll cover them all more in

depth and later on the video one of the

next things I want to mention is because

you’re a youtuber that means you’re

self-employed so you can take deductions

or deductible whatever you want to call

it you can deduct certain things you buy

from your business from your tax money

so pretty much if you make $10,000 okay

but you’re able to deduct $800 from it

and $10,000 will put you in the fifteen

percent tax bracket but if you were to

if you were able to deduct $800 that

puts you at nine thousand two hundred

for your taxable income which would

actually lower your taxes the 10% from

15% because you were able to knock

yourself down a bracket by deducting

stuff and some of the things you can

deduct or like this camera I can deduct

I can deduct the lighting that my green

screen my computer if you’re a gaming

youtuber you can deduct your consoles

anything you buy for your YouTube

channel you can deduct and the

government cannot tax you from it some

other things people deduct is their

microphones like this thing my blue

snowball software if you buy Sony Vegas

if you’re an idiot and by Sony Vegas you

can deduct that stuff like that you know

some people take it as far as they

actually deduct their cell phone bill

because that you know they use their

cell phone purely for like social media

like their Twitter YouTube which is all

you know their business some people do

that some people even go as far as

putting like a picture of their channel

on their car and then like on the

outside their car and you know labeling

their car is an advertisement and some

people take it a little out of

proportion I don’t think they’d actually

get away with it the government you know

came by and checked them but for the

most part you know like simple stuff

like equipment make sure you deduct that

save yourself some money don’t be an

idiot

but you have to save the receipts

because you know you deduct all this

stuff and they come asking for proof and

you don’t have the receipts then you’re

gonna be screwed and end up paying more

money than you would have yeah so you

get that so anyways I’m gonna cut

straight to the point let’s say you make

1 million one hundred thousand dollars

in the year 2015

do you know how much money you’d have to

pay the government if you made 1 million

$100,000 so let’s say somehow you

managed to deduct a hundred thousand

dollars so the only part of your income

that’s taxable is a million dollars

because you’re able to deduct a hundred

thousand then out of that million

dollars the federal government because

you’re in the highest tax bracket it’s

gonna take two hundred and eighty three

thousand dollars so just over a quarter

of a million dollars goes to the federal

government that’s one of the five taxes

you have to pay as a self-employed

youtuber the next tax is your Medicare

which okay so Medicare is 2.9 percent of

all the money you make two point nine

percent so two point nine percent of a

million dollars is twenty nine thousand

dollars so twenty nine thousand dollars

goes in Medicare two hundred eighty

three thousand of the million dollars

goes to the federal government the next

tax you have to pay is your Social

Security tax now the Social Security tax

12.4% but that’s only for the first

hundred and thirteen thousand dollars

you make so if you make over one hundred

and thirteen thousand dollars it’s no

longer taxable sorry about that voice

crack I’m kind of sick it’s no longer

taxable by the government

so if 12.4% of one hundred and thirteen

thousand dollars comes out to fourteen

thousand dollars

so so far between just the first three

tax the federal federal tax the Medicare

tax and the Social Security tax for

Social Security only applies to the

first one hundred and thirteen thousand

dollars you make that’s total to three

hundred and twenty six thousand dollars

you already owe the government that’s

over a third or no that’s just under a

third of a million dollars and then the

next tax is the health care surge or

surplus something like that in the

health care tax which is 0.9 percent so

just under one percent of everything you

make

so 0.9 percent of a million dollars

according to the guide I got this

information off of there’s seven

thousand two hundred dollars which

brings your total up to thirty three

hundred and thirty three thousand two

hundred dollars and the final tax is

your state tax so if you live in

California which is where most youtubers

live and you make a million dollars you

have a million taxable dollars then

California is gonna take one hundred and

ten thousand dollars so uh you’re gonna

owe if you make a million dollars or you

have a million dollars that’s taxable by

the government the government is gonna

the federal government’s going to take

two hundred eighty three thousand the FI

CA which is your Medicare and your

Social Security is gonna take forty

three thousand health care is gonna take

seven thousand two hundred and state is

gonna take one hundred and ten thousand

so out of your 1 million $100,000

the government’s gonna take four hundred

and forty three thousand dollars I’m now

making enough money where I have to pay

taxes so I did all this research and I

thought I’d share with you guys so let

me know if you learned something and

that’s not that’s that oh my goodness I

hate being sick

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