Update Adsense so you DON’T Lose Money!

Learn more from YouTube’s help article: https://support.google.com/youtube/answer/10391362
Watch YouTube’s official update on the YouTube Creators channel: https://www.youtube.com/watch?v=SeKEtf8A3FU

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so think of it this way you’re making a

thousand dollars a month on youtube and

poof just like that 240 of it just

disappears

in taxes doesn’t matter if you made that

money through advertising

through super chats through channel

memberships it’s just

gone just today youtube updated their

tax settings and if you don’t have

your adsense account set up correctly

you could be losing up to 24

of all the revenue you are earning here

on this platform that’s a lot of money

right so let’s look at how to fix that

problem in your adsense account before

the deadline

of may 31st so that you can get as much

of that money coming to you

as possible

hey guys my name is tim schmoyer and

welcome here to video creators where we

are all about equipping those of you who

are more established creators with next

level tactics to know how to further

grow your audience

and your business here on youtube and

that starts with the money that you make

right

just today youtube announced a big

change to how it

withholds and pays taxes for creators

like you and me

now it’s not really their fault because

the

u.s tax code is very big and very

complex

but it does have implications for us and

so i want to take you to my

computer and walk you through exactly

the steps that you need to click on in

order to make sure that you are up to

date and as much of that money is coming

to you as possible

but before we do that i want to

introduce you to matt

koval he is the youtube liaison and he’s

here to share with you real briefly

take this complex update and make it

very

simple for you to understand ha i’ll try

thanks tim i want to clarify this is

mainly for creators

outside of the us if you’re a creator

outside of the u.s you might begin to

have

taxes deducted from your u.s earnings

later this year

google has a responsibility under

chapter 3 of the u.s

internal revenue code to collect tax

information from

all monetizing creators outside of the

us

and in certain instances to deduct taxes

when these creators earn income from

viewers in the us

these u.s earnings can come from ad

views

youtube premium super chat super

stickers

and channel memberships how much you’ll

be taxed

depends on a few things it depends on if

your valid tax form has been submitted

or not

how much your channel earns from us

viewers and if your country has a

tax treaty with the us that you’ve

claimed the benefits for

i know it’s complicated death and taxes

you know well if google doesn’t have tax

forms for you by the time these changes

go into effect

google will be required by law to

presume that you’re

a u.s person if you have an individual

adsense account

this means that until google has your

completed tax info

they’ll need to withhold up to 24

of your total earnings worldwide not

just your us

earnings so the earlier you can get your

forms in

the better now if you are a creator in

the us google has already made this

change

to the terms of service back in november

most of you have already completed us

tax info in adsense when you first

joined ypp

and won’t see any new taxes although

some u.s creators with

incomplete tax info will need to

resubmit

their form if you’re a u.s creator be

sure to check that your info

is complete in adsense thanks matt you

guys should definitely follow

matt on twitter if you aren’t already us

at youtube liaison there’s a link to his

profile down below

his whole entire job is to make sure

that creators like us

are heard and to express our feedback

to youtube so follow them you’ll learn a

ton now that you’ve done that let’s walk

through this process on my computer now

know that what you’ll see on my account

might very well be different than what

you’ll see

on your account it depends on what

country you’re in what your citizen

status ship

is if you’re doing this before or after

the deadline

and many other factors but even if our

screens do look a little different don’t

worry about it too much

thankfully the engineers at google have

done a good job at making the adsense

system

automatically detect a lot of the

settings and questions it needs to ask

you to make this as painless as possible

to submit your updated tax information

just go through these simple steps

number one

go to google.com adsense and sign into

your account

then click on payments and there you’ll

find

an option there called manage settings

click on that

and then next to united states tax info

click edit and then click update to

add any additional tax information you

need there submit it

and you’ll be set and ready to go as

youtube creators i think the question a

lot of us are asking

is what is the impact of this on me

let’s break this

down and apply some different math

scenarios to this using our example from

the very beginning of this video

let’s say you earn a thousand dollars in

one month here on youtube

and of that thousand dollars 100 of it

was generated from u.s viewers and

scenario number one

you don’t report any of your tax

information and because of that

google is required by law to withhold 24

of your worldwide earnings which means

that of that thousand dollars they’re

gonna take 240 of it withhold that and

pay those taxes

in scenario number two let’s say you are

a creator in india

and you do go in and update your tax

information and because the us and

india have a tax treaty relationship

that reduces the tax rate to 15 percent

of earnings from viewers in the u.s your

final tax deduction is only

15 from that 100 generated by u.s

viewers or in scenario number three you

are a creator also

outside of the u.s and you update your

tax information inside your adsense

account

but you are not eligible for a tax

treaty

and so the tax rate without a tax treaty

is 30

of earnings from viewers in the us which

means that of that 100

that was generated from us viewers 30 of

that will get withheld

for u.s taxes so thankfully as long as

you update your tax information

inside your adsense account the impact

of this isn’t huge

if you miss the deadline of may 31st or

don’t update your tax information then

they will be

withholding 24 of all of your worldwide

earnings and that

is a massive hit so go update it

because you do not want to get hit with

that type of withholding that is

huge so if you want to learn more

information about this there’s links

down in the description of this

video and also i want you to click right

here on this video that goes over to

the video over on the youtube creators

channel where they’re talking more about

this update

check it out and keep changing lives see

you guys soon

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