Last year my Youtube income was 6.6M yen, which I declared as miscellaneous income (together with expenses necessary for running the channel). This year, based on the first three months and extrapolating, my YT income is on track to getting to around 10M JPY, and so I’m thinking of quitting my job and going full time on YouTube.
If I chose to do so, what steps should be taken for someone (with PR) moving from full time job to freelance (and specifically Youtube)?
* quit job
* register to kokumin hoken (with the rate based on previous year income….)
* register to kokumin nenkin
* declare myself as kojin jigyo
* next year February, declare taxes as usual (using shiro iro shinkoku for now, I really need to look into ao iro shinkoku but haven’t had the energy)
* keep paying for my residence tax based on previous year income 😞
* keep paying the yotei nozei that will be overestimated for this year, but some of which I should be able to get back next year tax season
Anything I’m forgetting or any other options available? And is health insurance indeed based on previous year income and be quite pricey?
Thank you!
Edit: made the case more general to more closely comply with the subreddit rules (i.e. general options in a full time to freelancer scenario). Also, I’m sorry but I don’t want to reveal the name of the channel.
by lostinoverstress