Business + Wellness MUST DO's For Filmmakers (HUGE Mistakes I Made...)

[@MarcusRFilms]

Sir!!! Now THIS IS THE CONTENT THAT SHOULD BE FLOODING KZbin!! We appreciate you man. Transparency is real and though gear talk is cool new comers should really understand that THIS is more important.

[@MVPMoneyB]

💯

[@MacLethal]

Been paying back taxes for years. The first 7-8 years I made money as an artist, I just... didn’t pay taxes. It was either work a steady 9-5, or use the money I made to live off of. So I just pretended it didn’t exist. Then I started making real money, and wanted to buy a house. You can’t do that if you owe back taxes, so I had to clean it up and get on a back taxes payment plan. Almost 10 years later, I’ll make my last monthly payment in a couple months. Do NOT ignore this video. Remember what Jay-Z said “Pay your taxes, y’all are hustling backwards.”

[@rileyschannel]

Glad you almost got it cleared up. I am scared of the IRS. They the biggest gangsters on the planet.

[@PhilMao]

it's like seeing worlds collide seeing you post on this youtube channel. you're a legend dude

[@RyanKao]

This video is huge bro. Love this style and format so much. Might have to talk about some of my experiences too

[@puellobeats]

He not lying about the house purchasing. Banks will call you NOT STOP until the story is straight 100% ! I bought and moved into a new house as well.. they are NO JOKE

[@edwardleefilms]

THANK YOU. Bro not enough people talk about this side of being a business owner. Thanks for sharing your experience

[@alwayscreatingio]

As a freelancer I can relate! If you’re unsure of how to do your taxes just consult with an accountant. It’s probably not as expensive as you think and it’ll save you a lot of time and headache

[@PHlophe]

as an accountant myself i agree with you they should ask us to sort them out. same with my relatives who resent me for not picking up their paper work and working through them as if i haven't got expenses and bills of my own to pay. that mentality kills me. too many folk are stingy they miss the big picture.

[@YCImaging]

Yeah bro! The price is often worth it, just to Free your brain of the stress.

[@allthingscapitol7107]

YC this is what’s NEEDED. So many people don’t know or understand this in pursuit of entrepreneurship and you just helped so many by being so honest on camera. RAW as you kept saying. Keep them coming man.

[@RockWILK]

You make a lot of great videos, but this might be your most meaningful, and important. Most contributing. This is the kind of stuff that your community of followers need to hear. And I love that you included the physical aspect of taking care of your body. Such an important part of any creative space. I'm a performing artist, and I have to train like a professional athlete to stay on stage. I think especially if you're using a gimbal, as you said, you better take care of your back. :-) One low shot can put you down for months. Awesome video, and much respect to you.

[@MarcusDPorter]

Bruh, this video has got to be the most realest video of 2021! From IRS and laying your taxes to taking care of your body from holding heavy equipment and editing…Man Bro I feel like this was my meditation for today!😂💀😂🙌🏾 Bruhhhhhhh just trying to catch up with unc bro! Sometimes you think you the only one going through this tough battle with unc and trying to save and invest but seeing this video and reading this comments is like therapy! Thanks fam!! I feel a little better now!! LOL

[@Circharles]

That was good information you gave out. Especially knowing that it came from your own personal experience. Good video, something different. 👍🏼

[@ShamarMarcus]

This video is just what’s needed to wake us up because a lot of what you mention we avoid and overlook. Thank you for this

[@ImeUmoh]

It's one thing to teach people how to shoot. It's another to teach creators LIFE tips. Low key you probably just saved someones life with these tips. Appreciate you for keeping it 100 ✊🏾

[@traviswallace]

This video is GOLD, bro. Way more important than gear talk. This is that father talk that needs to be heard in our homes and communities. Very essential video.

[@Duava]

You are such an inspiration man, this video actually made me emotional in a way. Much love bro! ❤

[@brittanilioneljackson6096]

As a CPA and photographer myself, I'm so happy you are sharing this with your audience. CPAs can do a lot for you beyond what was shared. Helping you with bookkeeping and filing your taxes is just the tip of the iceberg.

[@Bigpapi2000us]

Do you think, we should charge taxes in our Photography/videography on the invoice. No saying Sales Tax

[@brittanilioneljackson6096]

@@Bigpapi2000us if you charge taxes you need to make sure you aren't spending it on anything but sending those funds to the government. It all depends on what you state and city requirements and if you want the client to cover the costs or yourself.

[@MarcusDPorter]

@@Bigpapi2000us I charge the client the taxes and just pay that to the state or whatever every month! I do that because I was told it’s safer to show it on your invoices so the IRS can actually see you are charging the tax for document purposes instead of embedding it in your price and offering a flat rate! I rather do it that way so it shows a separate line on the invoice that my state tax is being charge and you see the percentage! But It can be done with way And I’m not a CPA, just what I’ve learned!

[@JabDFilms]

How much money foes one have to make to be looked at by the IRS for taxes

[@CJKnowsTECH]

Great video...a lot of people sleep on this info or just don't know. respect

[@jermainerobinson1225]

The raw videos about yourself lately is why I subscribed...i just discovered you 3 days ago.... Appreciate You.... And Thank You.

[@IamQrock]

Perfect video to catch right at the beginning of my self employed journey! I appreciate you dropping this one for sure!

[@BrittneyJanae]

The audio gets a little low but great video!! I def think these conversations are honestly even more important than gear talk

[@BrightsideBLVD]

TAX WRITE OFFS!!!! PIN THIS COMMENT YC PLEASE!! make sure your are using the gear you buy and all your expenses as a tax write off. Lights , camera, batteries, drone, filming software subscriptions, traveling, (rental car) gas, Food(if it involves your businness) props. If you got a CPA they should be letting you know this. This helps at the end of the year when you have to do your taxes.

[@YCImaging]

100%!

[@sklba632]

Don't forget about home space, depending on your situation. I'm remote. I can write off a small area as a business space. YMMV.

[@BrightsideBLVD]

@@sklba632 yes exactly!!! electricity internet. All that. Most ppl dont mention any of those things

[@dylanperez3121]

Pretty sure you can write your equipment off every year but the write off value is lowered each year.

[@StarpowerStudio]

Yup!! I thought he'd mention that

[@etu3915]

Videos like this, I engage my mind in. It’s Raw, practical and honest. Thank you for showing us that you are human too. I Love this content.

[@Federicoxserrano]

Dude this is CRUCIAL! All the things we don’t want to hear when we’re young but regret not doing later on!

[@dna8269]

Business advice videos are the best. Making a living in this industry is 90% business/wellness knowledge and 10% camera ability

[@ladaemon__]

so crucial. financial literacy cannot be overstated

[@Miguel_Molina]

Yo YC, one thing bro. @12:55 you said 401k you have to pay taxes anyway when you pull it out for retirement. That's not the whole picture. First, If you are making higher income now, contributing will lower your higher income so that you pay less taxes. Also, when you "retire" to start withdrawing money from your 401k you no longer are making income. Your new "income" is what you withdraw. As long as you withdraw what you need then you will be taxed less since you are no longer drawing regular income. Let us say you make 100k a year now, that's what you're going to be taxed at. But when you retire & you only withdraw 20k a year because that is all you need (probably not, but this is to illustrate an example) then you would only be taxed for that 20k instead at that tax bracket. More control

[@DiqaunColeman]

Man I wish I could have a convo with you right now YC. After watching this video & your recently uploaded video 'Why You Don't Talk about Gear Anymore', I know exactly where you are in your career and I certainly can relate. I'm literally in the same place! As one who use to geek out about camera gear, and 4k this and pixel count that, I literally made gear and tech a secondary thought and I fell in love with the game of entrepreneurship in 2020 as well as financial literacy. It's imperative for us who are creative entrepreneurs, creative business owners, and self-employed to really prioritize learning business (i.e marketing, sales, accounting, systems & operations, taxes, finances, etc) and becoming more financially literate. Yes, we need gear and equipment to run our business as our gear is a byproduct of how we can service our clients but geeking our over gear and specs without understanding how to make money/run,operate, and scale a business is set-up for disaster. The online education industry, has made things significantly easier for us to learn a particular topic, digital products such as online courses, ebook, coaching programs are all at our disposal. Peace & Blessings!

[@krausemedia]

Very important video!! Thanks for making this and being so transparent about your experience!!

[@TheStampeder]

I'm actually documenting all my payments, invoices, expenses etc. This video confirmed what I was thinking. Good look bro

[@JabDFilms]

Love the b chi bideo ppl dnt understand its more than just shooting editing and storytelling… life has more than one aspect to iit and learning how to balance those things will help us become better artist … thanks YC continue informing the ppl cuz they need to hear these things

[@Tepkeny]

Certified Public Accountant!!! i admire your vulnerability

[@SKYLERMUSIC53]

So helpful thank you YC 🔥🤙

[@EzeyFilmz]

Great video family. Appreciate all the gems dropped.. more of these are needed and loved

[@jaecee7043]

You a staple on my list of inspirations

[@troylamont]

One of the best videos you've ever done. From the Raw monologue to the production with Storyblocks, this was awesome bro!

[@HuFilms]

Nice one YC, I appreciate your honesty and openness. I too fell behind. Badly. I would always put it on the long finger. I ended up accumulating about 15k euro in back taxes and it became a serious problem. One thing I did was communicate. I told them my situation exactly. Then I did something I thought I could never do. I focused on paying it back. I promised to pay a grand a month and keep up with current taxes too. Then when business picked up, I payed even more. I ended up clearing the debt in a year and then treated myself to some new camera kit to reward myself! 👊By the way, the audio from your hand held recorder is top notch!

[@Poofus]

Dude out here saving lives. Love this channel

[@aditdixit1081]

Your wellness videos seriously help man. Would love to hear more about keeping your mental health in check when working on a lot of projects.

[@MrJd829]

This video is going to be very relevant for years to come. 🔥🔥🔥

[@wotsgoodworld4672]

Homie! 100% your best best video bro. Pearls of wisdom we all need. Much love yo. 🙏🏾

[@snowythedogphotography]

Informal video was great man. It doesn't always need mad amounts of visual pieces b roll and etc. Good content that provides value is good content that provides value. Keep being you :)

[@stefankarabelov]

These raw videos are a vibe 👍🏼

[@LilTCreations]

Thank you for being so open n raw!

[@varianography]

Hell yeah man! This is my first time watching one of your videos and I'm hooked!! I love this RAW style, it really helped me relate to you. My favorite aspect of the video is actually your lack of eye contact; It felt like we were having a real conversation and it was easier to learn and listen about such an avoided topic. I don't know about you but I definitely don't keep eye contact throughout every second of my conversations, especially the conversations that I don't want to have lol. In my perspective, I'm pretty on top of taxes and managing my finances. With that being said, I was so hooked into the way you were describing your scenario, when you got into talking about investing; I finally got the memo. I definitely need to do something with the money I know isn't going anywhere. I don't even know where to start but thanks to you I'm making that shit a priority.

[@madedigital]

most big youtuber who make money even little ones need to pay TAXES the fun is up, you making money they want their cut. SO WHEN YOUR CHARGE ADD VAT TO YOUR PROJECTS.

[@eraism]

Love this raw video with the subtle music at the perfect dB. Thank you for the insight, learned a lot of this over the years but the way you put people on to this with your laidback vlog is a1

[@qle278]

Appreciate this, its nice to hear the behind the scenes. I think more people than you know go through this.

[@danny.hayden]

LOVE that you smiling Dawgg!! Thank you!

[@terrencejakes]

As a freelancer, even though I'm not a filmmaker, this was next level for me bro. Appreciate your transparency and the free education/wisdom you just dealt out.

[@KingCalStream]

Yea man you did another great video. A lot of times you can definitely get lost in what you're doing and completely forget about taxes. This is something I definitely needed to hear. Thanks again man

[@alliealpha5738]

I'm new to your channel + absolutely loved the rawness. Thank you for this!

[@RealWorldRyann]

Yessssss!!!! I’m glad to see others talking about how else to make your money work for you as a filmmaker/creative/freelancer! Good luck with Unc, bruh! And congrats on the new house!!

[@ADivaForLife]

Pencil ✏️ and Pen 🖊., taking notes 🗒

[@christopherdearborn4390]

Dude. Love it man! It's so important for us to do the housekeeping on on the backend. I've been fighting with my back for the last couple years, so I'm glad your bringing awareness about the long-term effects of our work.

[@christianalmeida1973]

I feel you man!

[@pattnyc]

This is the best video I’ve seen KZbin all year 👏🏽👏🏽

[@Barryinazuma]

Investing is something that I understood not that long ago and even as a professional dancer and still amateur filmmaker I see that this is something that is one of the important things to build your wealth.

[@zachandbro]

I’m loving the deviation from the filmmaking tips and tricks. All you stated in this video is nothing but facts

[@josephegloff]

I love this style of video. Please make more like this !!

[@Joepope0]

You should make these talks also into a podcast, I’m at work mostly listening and it’s nice :) I wouldn’t mind just talks like these !

[@chriscatana]

A much needed video for a lot of us!

[@JayWilsonMedia]

More content on the business side of a creative would be dope!

[@BCMusic1st]

This was exactly what it needed to be! Appreciate the honesty on this one. A lot of older concepts of making money are still in play. The internet and information has changed the game!

[@kevnn267]

Your at a level of creativity where you freestyling the whole video 😂🔥🔥, the best content is freestyle it seems

[@YCImaging]

Haha freestyling has for sure been fun and more “me”

[@TheRealKahlel]

This video is GOLDEN📈 straight gems💎

[@literallykevin]

This is fantastic bro. Excellent info and format!

[@helloimrylie3638]

Thank you man. You always have helpful content, but this one, I needed to hear. Much love!❤

[@slexib]

Thanks for the reminders!

[@Throp]

This was dope man. Just solid advice for us newbies starting out. Appreciate it

[@joshburchettfilms8922]

Love this so much man, this is the content that filmmakers need.

[@jeremiemoludi]

Forget the gear reviews more of this please! Haha 😁

[@kozykev]

One of the best videos you ever made!

[@ducaveli]

Appreciate the real talk YC, it took some courage to put that out there and not front like doing KZbin is always cake. That’s why I f**k with all your videos, you’re an authentic one 👊🏼👊🏼

[@Oneway2k]

Love it. Dont ever stop being you.

[@touchdowncleaningllc5504]

Rocking with this content people need knowledge on these subjects. Me too. Good work

[@walterpphotography]

Man I appreciate every bit of what you said. Being over 50 now I wish I knew about this before now. Big ups and thanks again!

[@BearRara]

Love your videos man so raw and authentic ! You like that chill homie lol

[@MichelleWatsonLee]

Great video. I wish I knew more about this stuff when I was first starting out. Ppl don’t talk about this enough. It helps put your pricing into perspective. When you think about all this stuff that’s gotta come out it’s impossible to low ball yourself. It’s costing you money at that point.

[@NevermoreVisuals]

Thankful to have been doing a lot of these already (covid gave so much time for learning) but stoked to see you putting this out because a lot of people I know aren't there yet and this is so helpful as an introduction to that. Keep these coming!!

[@SimonRileyDrums]

Health is wealth 💯💯💯 great information brotha. Thank you!

[@chrisheeran]

now this is content bro. appreciate this one fr 🔥

[@WilliamNevius]

Dope video my boy. Like how raw it is.

[@tre.portrays]

Keep these coming YC. Such raw and insightful info bro 👏🏾

[@notkarl843]

Thank for this video! I just started freelance videography and Ive been stressin about the financial side of things for the longest. This video was helpful!

[@jdavevisuals]

You were right, probably the best you’ve ever done. Thank you for sharing so we don’t make those mistakes 🙌🏾🙌🏾🙌🏾 you rock YC

[@Papertryl]

Great video. It’s scary being an entrepreneur, but with the right steps, we can do anything.

[@Devinmcallister]

Valuable information here! It feels great to get your official business paperwork but definitely get a CPA right after! Saves a lot of time and headache. Don't even waste time trying to figure it out through google searches. Just get the CPA lol

[@shereba9432]

I needed this video so much! Perfect timing! It’s been really hard as a videographer / photographer trying to run a business & not knowing what to do with my taxes. I’m only 20 and my back has been killing lately too! lol😫 Thank you sm for these tips!

[@lovefirst6157]

I am 20 also, it hard to learn these

[@RafaelRossener]

that was one of the best entrepreneur`s video I`ve ever seen. I wonder to meet u some day, man. peace

[@bigsoup868]

Im about to start my Real estate Photography business this helped a lot 🔥

[@LuisJRodriguezR]

Great tips. I’d also add if you can’t afford a CPA or accountant and are willing to do your taxes yourself, get Intuit QuickBooks/TurboTax. It’s $24 a month for the subscriptions but you can document your expenses that way, you can automate some of them, and even document your mileage when you travel on shoots. You can set “rules” where certain payments or income can be automatically categorized. So when you get to the tax year, you can automatically input those numbers into TurboTax. Very little hassle and makes it easy for me.

[@bullettin]

I'd say figure out your monthly cost for the CPA and include that in your client billing. They should know more about the tax law and changes that the software might not make you aware of. This year, especially, they had a lot of late changes to go through and learn about with all the pandemic relief bills.

[@LuisJRodriguezR]

@@bullettin absolutely great point

[@stoneyworld5429]

Real game. You doin it man thank you 🙏🏽

[@e.m.p8379]

Bro thank you so much💯💯💯 I learned a lot and really got me thinking

[@Spikeyeevisuals]

This was it for me YC thank you for this

[@macguyo]

Daily stretching, exercises do help solve and sometimes end back pain

[@micah03]

I was talking with some photographers and they talked about how they know a ton of people not paying taxes. This is for sure the most important video I think you have put up. Of course, I love all your stuff haha.

[@msjazz79]

Loved this video. Learned a lot!

[@OfficialCinemaw]

video raw asl n still fire bro keep up the great content

[@solabomioyebiyi131]

Thanks for sharing man

[@4sightfilmsLLC]

Real talk we gonna meet one day, so I can thank you in person for sharing topics like this and your personal story bro.

[@BenjiSelby]

Bro this is right on time as usual haha I’m starting up my own business and I could use all the tips I can get😭 much appreciated!