I'm receiving money from youtube through adsense. I only did it as a hobby last year but this year, Im planning on being classified as a sole trader. Heres my question....what do I actually need? Like anything you know, tell me
Do I need to register a business name as a sole trader if I name my youtube into something else other than my name? Like my name is Bob but my youtube name is abcgaming or something?
I know that I dont need to register for an ABN until I have a 75k turnover. And yes, and to be clear, I'm not after the benefits of having an ABN.
I know that I dont need a separate business bank account and can just use my normal personal account as a sole trader (i just need to show my bank statements to my tax agent every tax season), Not that I can make one without an ABN.
I know that hiring an accountant that specializes in this will probably solve my problems but my youtube doesnt even earn what they would probably ask me (I earned like 1.5k last year as a hobby)
I do genuinely consider this as a hobby and I just want to make it right in the eyes of the taxman but it seems like the amount of paperwork that I need isnt even worth it lmao
Anyways, is there anything else that I need or something that you guys wanted to add? No matter how obvious it is, I might not know it. Thanks
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