You are viewing a single comment's thread from:
RE: Vlog #55: More info about tax on the Steem blockchain. Visited an accountant today.
Interesting. This has made me think, if you buy steem and power up plus earn steem consistently and power up, how do you know how much to allocate as income v investment when you power down?
I think this is confusing and really hard to work out because the income you powered up a year ago is going to be worth more than income you powered up yesterday. So how do you work that out from a tax perspective?
Or is the income only based on your payouts when they occur and everything you power up is then investment? Is steem power payouts considered investment or income since you can't access it straight away?
Does this make any sense? I don't know if I've done a good job at explaining it.
You make perfect sense. And I can't give you an answer really. It's why I contacted this firm in the first place. But I do feel that it's smart to think about it now. Just in case.
Yeah, I guess it wasn't really a question for you specifically. Just something we need to be able to answer if governments want to tax us. Maybe your accountants have an answer (although I expect it's not a straight forward answer).