Semaphore has worked with over 500 top YouTube stars at various stages of their careers in new media. Through our complete suite of services including things like stress-free accounting, bookkeeping and payroll services, we allow you to do what you do best – entertain and focus on your craft.
Whether you’re a veteran YouTube entertainer or just starting out, managing taxes correctly is crucial to avoiding major headaches down the road. Having the right plan in place will allow you to maximize your earnings while avoiding financial pitfalls that can be costly. Save time and money by working with our team of experts.
If you have 100,000+ subscribers, call or text today.
Let’s face it, even if you didn’t expect your hobby to become a sensation, once revenue is generated, you’re in business! We have service packages specifically tailored to Tubers. We offer Business and Individual tax solutions to make your life easier. Once your bookkeeping is in order, payroll is the next critical area to consider.
Our team of business and tax experts can manage your financial picture for you so that you can continue growing your following. We’ll design a customized plan that is specific to your goals, and one that will position you to thrive.
For most new YouTubers, content and creativity usually tops the priority list over business and finance management. However, business matters need to be top of mind as nobody wants those stressful IRS notices come May. If you’re eager to get your YouTube career on the fast track to financial success, be aware of these costly mistakes YouTubers often make:
Not Withholding Taxes
If you are an employee of any company, that company conveniently withholds taxes from each paycheck you are issued. As a digital influencer, you get to hold the title of “sole-proprietor”. In other words, you are your business. Because of this, you are responsible for withholding your own taxes. Make sure you are making quarterly estimated payments to the IRS to avoid a huge tax bill and penalties!
Not Saving for Retirement
Even if your income comes in sporadically, it’s still important to save what you can for the future. Setting up a 401(k) or an IRA is easier than you think! Always remember that you’re in charge of your future, so take the necessary steps to stay secure.
Not Separating Business and Personal Expenses
This can become a major issue – especially if you wait until the last minute to organize all of your expenses. Even if you don’t have a formal business in place, you still need to keep track of where your money is going. Set up a separate business credit card or checking account that is only used for business. This way, at the end of the year, you don’t have to sort through business and personal transactions.