Interesting post, I am also studying this aspect, just for not, as a business individual, be bothered by the 'taxman'.
From my own research, I believe while still in your wallet you should not worried about your tax, as soon as it is withdrawal and become Fiat currency into your bank account, yes, it should go towards your income for tax purposes. There is also threshold balance value, which differ from each country when the tax is applied mostly over US$10 k at least, which for many steemians is a far away value to be worried about, when thinking about tax affairs. <3
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There are many steemians who earn more than 10K in only one months, so it's definitely an issue :-)
That's not true. At least in European countries you have to declare everything you earn - independently in which currency the income has been generated originally. That's what I've learned during my research and interviews with several financial and crypto experts. Germany is far ahead when it comes to regulation, other countries are still defining their rules. But in a couple of years that's surely gonna be equal for the whole continent.
Where did you do your research?
delicate subject which has not one right way of doing. I definitely do not want to get away from tax but at the same time it has to make sense for me and my business otherwise we have lawyers which can assist me. It is still very difficult to predict but I don't believe one country is far ahead than the other as each country has their own tax law. You can see differences between South Korea , Thailand, India and China as examples, each of these countries approaches crypto differently. It mighty be that when cryptocurrencies is truly a currency that can effectuate transactions directly that it will become necessary to declare everything that you earn independently in which currency. So far in my case, crypto does not assist my business in anything really financially speaking. I agreed with you there are steemians who earn 10K in a single month, and I wish them wealth, I am not here to worry about who pay their tax or not, everybody mind their own businessThanks for your reply @surfermarly My research was not Google based, it was more debates with colleagues who works with accounts and solicitors. That's not true as you mention is relative as I am not here telling you lies or what is not true. I am just interacting with you in a , when I mention it I was referring to minnows as I am #lol <3