I received a form 1099-MISC (from PayPal or Google or your MCN) for my YouTube channel earnings so I need to file a tax return. Where do I start?
When running a YouTube channel, you are actually running a business since you will be issued a 1099-MISC. Therefore, you need to file the appropriate schedule C tax form to show the IRS that you are properly handling your tax calculations. At Semaphore, we can help you position yourself so that you receive the greatest tax benefit when filing by ensuring the schedule C is properly capturing all your business related expenses.
When do I need to incorporate?
Once your monthly earnings from your YouTube channel reach a certain threshold, it’s a good idea to start thinking about incorporation. Because you are taxed differently as a sole proprietor, you need to weigh the costs and benefits of creating a formal company.
Are you an MCN?
No, we are NOT AN MCN. Our talent span every MCN, and many choose to remain independent with Google directly.
Will I be locked in a contract?
No, we do not have duration contracts. We work on a month to month basis with our clients.