Google’s recent announcement might come across as “bad news” to YouTube content creators in India and other countries. The search engine informed all YouTubers via email that it will have to cut US taxes from payments to creators outside the United States. This means the US YouTube creators won’t have to bear any extra tax burden. Google may start deducting this additional tax from YouTube creators outside of the US from June 2021.
In its official message, Google said that it would be asking YouTubers to submit their tax information in AdSense over the next couple of weeks. The search giant will use this data to ascertain the right amount of taxes to be deducted, if applicable. Further adding to this statement, the company said in case any YouTuber does not give their tax information by May 31, 2021, it might need to cut up to 24% of their total earnings worldwide.
Here, what’s crucial to understand is that this additional tax will be cut from the money YouTubers make from the viewers in the US through Channel Memberships, YouTube Premium, ad views, Super Stickers, and Super Chat. This means you will not be required to pay any extra tax for your earnings from viewers outside of the US, provided that you submit relevant tax documents on time. However, if you choose to disregard this message from Google and do not provide your relevant tax information, you might need to pay a hefty 24% tax on your total monthly earnings from YouTube.
NEW TAX RULES FOR YOUTUBE CONTENT CREATORS OUTSIDE OF THE US
Using an example, Google clarified that if a YouTuber in India earns $1000 per month from the video-sharing platform and out of that total $1000 revenue, if viewers in the US make up $100 income, then as per the new tax rules, the possibilities are as follows:
- YouTuber does not provide tax information: In this case, 24% of the entire monthly income, i.e., $1000, will be deducted. Therefore, the final deduction will be $240. That’s because, in case you do not submit a form, the withholding tax rate is up to 24% of the entire income. Hence, until Google receives your complete tax information, it will be required to cut up to 24% of your total earnings worldwide – remember, “worldwide,” not just your US revenue.
- YouTuber provides tax information and claims a treaty benefit: In this case, 15% of the monthly earnings from viewers in the US, i.e., $100, will be deducted, meaning the final deduction amount will be $15. That’s because of the tax treaty relationship between India and the US that decreases the tax rate to 15% of income from viewers in the US.
- YouTuber provides tax information but doesn’t qualify for a tax treaty: In this case, 30% of the earnings from viewers in the US, i.e., $100, will be deducted, meaning the final deduction amount will be $30. That’s because, without a tax treaty, the tax rate is 30% of income from viewers in the US.
WRAPPING IT UP
If you happen to be a content creator earning from the popular video-sharing platform, YouTube, it is in your best interest to look up the Google Support page for relevant tax information and documentation. Also, be sure to submit the same by May 31, 2021. Google has warned YouTubers that if they don’t submit tax forms before the deadline, the tax rate will default to 24% of their entire income for individual account types (which is the account type for most creators) even if viewers from the US account for only a small percentage of their earnings. So, it looks like it would be best for you to play by the rules and submit your tax details on time to avoid a hefty tax deduction.
Hariom Balhara is an inventive person who has been doing intensive research in particular topics and writing blogs and articles for E Global Soft Solutions. E Global Soft Solutions is a Digital Marketing, SEO, SMO, PPC and Web Development company that comes with massive experiences. We specialize in digital marketing, Web Designing and development, graphic design, and a lot more.
SOURCE : YouTube Creator
In this digital era, Twitter can be an excellent marketing channel to drive traffic and generate leads.As a matter of fact, a good majority of Twitter users follow their favorite small businesses online.
Even the big brands like Google and Amazon have official Twitter accounts and boast a massive following on the platform.Undeniably, Twitter is a popular communication channel for millions of internet users worldwide, ranging from the most famous people like celebrities to the most influential people like presidents.However, it can be really easy for your organic post to get buried deep somewhere in this ocean of posts considering the millions of tweets sent out daily.However, this may come as a surprise, but this is also one of the reasons Twitter Ads can be extremely beneficial and powerful for small businesses.When it comes to building brand awareness, the sheer volume of information present on the platform can benefit small businesses.Investing in Twitter Ads can remarkably work in your business’ favor, provided that you are deploying the right techniques.In fact, digital marketing agencies have actually helped their clients gain new followers for just a couple of cents, and well, generating new leads for an amount as tiny as that is a good investment.This goes without saying; Twitter Ads present your brand with the opportunity to reach hundreds of millions of people who fall within your target audience.Reaching these qualified groups of audiences actually provides your company with direct access to your prospects, which means more traffic and leads will be acquired, ultimately leading to more conversions for your business.This blog covers four ways that make Twitter Ads ideal for your small business and how you can leverage it to increase your brand exposure and foster business growth.So, let’s dive in!Why Twitter Ads?In case you aren’t still utilizing Twitter, then it may be the time for you to get on board now and leverage this incredible platform.
There’s a vast difference between the two, which is clearly reflected in the different results they yield individually.Simply put, we are talking about advertising on this platform using Twitter Ads in particular.
By that, we mean Twitter Ads can easily be a feasible marketing and advertising channel for many small businesses.However, there’s no running away from the fact that Twitter is not as effective as other, more popular marketing channels such as Google, Facebook, Instagram, etc.But again, this doesn’t mean they aren’t worth or capable of yielding striking results.And if truth be told, Twitter ads, in reality, offer a range of unique ad targeting features that these other platforms don’t offer to the advertisers.This is the reason why we think investing in Twitter Ads can do wonders for your small business and prove to be a smart investment.But that’s not it.This is just the tip of the iceberg.
And therefore, here, you would end up paying for an ad that didn’t yield you any results, let alone meet your objectives.For example, if you are running Twitter ads to drive more traffic to your website or acquire more followers on the platform, you will only pay when users visit your site or follow your Twitter account.Similarly, if you are running an ad intending to get more people to install your app, then you will only have to pay when users install your app on their device successfully.Therefore, with Twitter’s objective-based pricing model, advertisers can make sure that they only pay for the results that actually impact your overall marketing objectives.Now, this, of course, puts the advertisers in a win-win situation because, frankly speaking, Twitter doesn’t mind taking up a bit of risk.This instantly makes Twitter Ads a more appealing option but remember it will still be your responsibility to ensure that you reach the ideal audience that will convert.Or else your ads won’t be as successful, and you will be primarily just exhausting your advertising budget uselessly, which you would certainly want to avoid no matter what.Keyword TargetingThe next great feature of Twitter Ads is its exceptional keyword targeting.And this is probably what makes Twitter so unique from the rest of the social media platforms such as Facebook and Instagram.For instance, Facebook lets you target specific groups of audiences but not specific keywords.
And taking this game to the ultimate next level, Twitter allows you even to target users who have interacted with tweets that include specific terms in the past week.For example, let’s assume you run a local coffee shop, and you want to target coffee lovers.Theoretically, you can simply run a Twitter ad that is only displayed to users who have mentioned or interacted with keywords such as coffee, cappuccino, etc.You could even narrow down your targeting to your particular area code or radius.Now with Facebook ads, you don’t get all these options.
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