Google adsense taxes? Please Help?

[john]

Okay so, I've been a youtube partner from october 2007 to the present day today. I am 18 years old, I live in Canada and when i started making these videos i got paid very little. However, over time it starting growing in popularity and i got millions of hits, ect. I am currently very worried because i have just found out about this whole tax thing? I may have to claim all the money I've made? It says from October 2007 to today I have made 59,000 dollars. Every month i've gotten checks to spend and its just been my job since. My mother keeps telling me the government may find out about this. If so, I just don't know what to do and I need some advice on this. Thanks.

[Wayne Z]

Ignorance of your tax obligation is not a defense.

Get yourself to a tax professional ASAP.

[Jim S]

I'm with Wayne here. I guess that the good thing is that you'll be able to afford to pay the taxes and penalties assessed with your income going forward. Not very many people get that chance.

Revenue Canada can be quite invasive. You may have to figure out how to keep your mom's taxes out of the investigation. The house, too. You get that tax pro clued in to the situation NOW.

[Jake]

In the U.S. Google is required to report payments to the IRS if over $500 in a year, they send you a copy of the W9 given the IRS, normally they would have asked for tax identification information when you signed up, also in the U.S. they tack on an additional 15% self employment tax to the normal amount because there is no employer contributing to your benefits.

This suggestion suggests there is no reporting by Google outside of the U.S. but your spending had left an easy to trace money trail that they will sniff out sooner or later. Some American actors have done jail time after 'forgetting' to report their millions of income.

http://productforums.google.com/forum/#!...IMGAXc7pFI

Simple summary:
http://www.youtube.com/watch?v=jdk7lIqX170

A simple search for: adsense taxes canada, gets you lots of info.

That's US info pretty academic for a Canadian, but typically Taxes never go away, they just accumulate penalties, get advise from an expert, you may have to pay around 1/3 of those earning in taxes.

Congrats on the Youtube success.