Do you have questions about about crypto and taxes? I know a lot of people (including ...
... myself) have questions when it comes to #crypto and taxes. That's why I'm excited to bring the founder of CryptoTraderTax on my show to provide a little clarity.
If you have any crypto tax questions you'd like me to ask - drop them below! 👇🏻
This is a great topic, I would assume steemit would be taxed as regular earnings for your blog. what about steem engine air drops? What happens when you trade your steem to bitcoin then to fiat?
I'm not sure what to do, I'm glad you have this planned!👍
Great questions!! We will definitely be talking about these topics! :-)
Its literally impossible to track this stuff... I have so many random airdrops and upvotes and god knows what else.
I just don't pay the taxes lolol yet. Not earning enough for that ehehe and still have a job on the grid ehehe
Yep! Haha That actually could be a really good question though - does it seem like the IRS will be looking at those only transferring small amounts or is there a dollar threshold when people should start worrying about this.
🙋 nope best just not let them know. Truly its not like they can just look in your wallet. I'm sure they will figure something out. But till then...
Thanks for the tips, great job as always! I dont make enough and do not pay taxes where I live, i mean it has to actually be considered a currency in order to be taxed.
That’s a good point about different countries - in my interview, we will be primarily talking about US tax laws.
Awesome! I am still surprised that can tax a "crypto currency" that isnt a actual currency, lol! This is what I read, and how they try to collect it in Canada: "According to the CRA, tax rules apply to digital currency transactions, including those made with cryptocurrencies. ... For most Canadians, this would mean reporting it on your personal return, claiming it as a capital gain, 50 per cent of which would be taxable."
So it is treated as a "Commodity" instead of currency.
Otherwise there is currently no taxes for buying or holding cryptocurrency in Canada.
@nealmcspadden FYI