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RE: Does anyone here have a clue how TO PAY TAXES FROM EARNINGS on STEEMIT?

in #steemit6 years ago

Here is the real question: is it worth the governments' time to track you down and come after the capital gains taxes on your crypto earnings?

Excellent question @bi5h0p. It crossed my mind too several times.

Remember: your digital tokens are not taxable until you redeem them for U.S. dollars. If you leave them in a wallet or exchange somewhere, they are simply considered so much "digital air." Upon conversion to FIAT, taxes matter.

That would mean that you can purchase services, products and sometimes pay for hotels with crypto and this way you can use your resources without paying taxes.

I wonder how to approach this issue. Goverments and tax officers will have a very hard task.

Yours,
Piotr