... it’s all a bit fuzzy.
Not being sure how to file taxes (nor being able to access all my data on Steem for the year), I’ve been hesitant to post. Posting means I’m likely to add to my account balance. What to do? We want to comply with tax compliance, but what is it?
I love the Steem community. I don’t want to stop; however, the tax man may stop me from posting eventually.
I’ll absolutely give everyone the head’s up if I decide that this is it.
Wow good points... I didn’t think crypto would be inside the tax laws but of course it is...
What if we invested $1000 in steem and then in a year it’s at $10,000, we shouldn’t have to pay tax on that?
Great pose by the way!
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Even just simple curation can be taxed. It’s insanely complicated.
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I am a community member and has faced a similar problem. Decided to be compliant and wrote a simple and easy to use software. Offering it for free to everyone to calculate capital gains - pay only to download tax documents.
Check out BearTax- For more details, check Medium, Twitter or Facebook
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I’m so glad you did that! Thank you!!!!!
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I heard US tax laws are pretty strict on crypto. At least in South Africa we are only asked to declare capital gains tax on it once we've converted it to fiat. If you leave it in crypto they don't really care.
One option I've seen people do is use goldmoney and convert their crypto into gold and then request a goldmoney debit card to spend it with. There are also a few crypto cards you can use to spend your crypto directly as cash
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That would be nice.... and make sense!!
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