Yes I have a tax system I am using to record the income each time I redeem rewards as explained at https://steemit.com/steemit/@jerrybanfield/steemit-tax-calculation-and-payment-system because this was one of my first concerns as well! In summary I record all the income I get in rewards on the day I get them as taxable!
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Jerry....that is frickin great...thanks for replying and telling me about that. Gonna head over to your post about that. One last question.....since I'm only here because I follow your channel, do you recommend I put all my steem tokens into my steemit wallet, then convert it over to Steem Power?