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RE: Working for the weekend and other random thoughts

in LeoFinance11 months ago

I think it's the same more or less. Not sure. My accountant explained it to me but it was over my head. Something about establishing a cost basis by following the regulation and reporting my income from each Hive post, then when I do withdraw it to fiat in the future my tax obligation will be far less. Or something. I don't know... accounting is definitely one area I know absolutely nothing. I should have been an accountant.

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That makes sense I guess. I just plan on paying the 30% tax or whatever it is when I move to fiat and handle it that way. If you are trying to maximize your gains versus taxes then I can see how you might do it differently.