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RE: Does anyone here have a clue how TO PAY TAXES FROM EARNINGS on STEEMIT?
Thank you @mjo for your amazing comment. Im glad you shared your knowledge with us.
Appreciate.
I think strictly from a legal perspective, at least in most countries, they would "require" you to pay taxes on your earnings.
And now it's a difficult part: what are our earnings here? If I earn 50 SBD and some steem after my post will be publish then is it my profit?
Let's say that I've spent 40 SBD on bots. So my earning should be just 10 SBD. But how to differ "costs" from transfering funds to your friends/your other account.
That's very tricky.
Luckily my biggest asset is knowledge and many solid business contacts. Those 2 things cannot be taxed :)
yours,
Piotr
@mjo just one more thing
I've learned that you're very responsive which is absolutely great and steemit community surely will benefit by having you here.
if you would ever like to keep in touch and support each other closer, then drop me a message [email protected]. This will allow us to communicate easier.
No pressure of course,
Cheers, Piotr
Hey Piotr, sorry for the delayed response. I'm doing a little speculating here, but I think it would be something along the lines of what money you've moved out of steemit compared to what money you've invested into steemit. So, if you start a fresh account and buy/import 40 SBD into the system, then you write a post and use all 40 SBD promoting it. Then, you end up with 50 SBD and you transfer that all out of the system. I think you would be correct that the earnings would be 10 SBD.
However, if you were creating content regularly and saved up 40 SBD, then promoted a post with it and got 50 SBD upon payout. I think they would argue that both the 40 SBD you earned previously and the 10 SBD from that particular post were taxable (assuming you transfer all 50 SBD out of the system at that time).
I'm also thinking about this based on my understanding of the US tax system, could be totally different for you. I'll have to dig through more of the comments here to see if this is roughly in line with what others are saying.
thank you @mjo for taking the time to reply to my questions
I appreciate it a lot.
Yours
Piotr