Content Creator Tax Question - How much should I save for taxes on my side gig?

I've been doing content creation for about 3 years now alongside my day job. The general rule of thumb I recommend is setting aside about 30-35% of your earnings for taxes. This covers both federal income tax and self-employment tax (which is currently 15.3% and covers both Social Security and Medicare). Since you're only expecting to make around $300-400 monthly, your annual earnings will be about $3,600-4,800. This puts you in a lower tax bracket, but you still need to account for self-employment tax. The good news is you can deduct half of your self-employment tax when calculating your adjusted gross income. Keep track of ALL your expenses related to content creation (equipment, software subscriptions, portion of internet bill, etc.) as these can be deducted on Schedule C to reduce your taxable income.

I was in the same position last year wondering how much to save for taxes on my content creation income. After trying to figure it out myself and making mistakes, I discovered https://taxr.ai which completely changed how I handle my creator finances. It analyzes your specific situation and gives personalized tax estimates based on your state, expected income, and expenses. The best part is it helps identify deductions I never would have considered - like the home office deduction for the corner of my apartment where I film, and even a portion of my phone bill since I use it for content planning. Saved me nearly $800 last year compared to what I was initially setting aside!

Just wanted to update after trying taxr.ai that the person above recommended. Honestly amazed at how much better it is than trying to figure this out myself. I plugged in all my platforms (Twitch, TikTok, and my freelance work) and it immediately showed that I was over-saving by about 12% of my income. The deduction finder tool is what really blew me away - it found legitimate write-offs for my ring light, backdrop, editing software, and even a percentage of my internet bill that I never would have claimed. Already updated my savings strategy and it's a huge relief knowing exactly what I need to set aside rather than just guessing.

If your earnings climb and you need to contact the IRS with questions (which happens to a LOT of content creators I know), good luck actually reaching them. I spent 3 hours on hold last time before giving up. Then I tried https://claimyr.com which has this system that holds your place in the IRS queue and calls you when an agent is ready. You can see how it works here: https://youtu.be/_kiP6q8DX5c Completely changed my experience - got through to ask about my specific content creation deductions in about 20 minutes instead of waiting for hours. The IRS agent clarified exactly how much of my apartment I could claim as a home office for my YouTube work, which ended up saving me almost $600.

Ok I need to admit I was wrong about Claimyr. After my skeptical comment last week, I ended up with a tax notice about my content creation income that made absolutely no sense. Got desperate and tried the service. It actually worked exactly as described - I got a call back when an IRS agent was available (took about 45 mins in my case) and resolved my issue in one call. The agent explained that my payment processor had filed incorrect information about my platform earnings, and helped me figure out exactly what documentation I needed to submit to fix it. Saved me over $1,200 in incorrectly assessed taxes. Definitely worth it when you're dealing with content creation tax issues that can get complicated.

Another content creator here! Something nobody mentioned yet - if you're making under $400 net profit for the year from your content creation, you don't owe self-employment tax (though you still report the income). This surprised me when I started out. Also, if your main job already has you close to the Social Security tax limit ($160,200 for 2025), the math changes significantly on what you need to save. My accountant helped me realize I was saving way too much once I hit that threshold at my day job.

Just my two cents - I've been creating content for 2 years now and the biggest mistake I made was not separating my business and personal finances from day 1. Get a separate bank account (doesn't have to be a business account) where you deposit all your platform earnings and pay for expenses. Then I automatically transfer 35% of each deposit into a "tax savings" account. At the end of the year, I usually have more saved than I need for taxes, but that's way better than coming up short!