How to Calculate Taxes on Steemit Income

in #steemit4 years ago


I'm still in the process of getting my cryptocurrency tax affairs in order. It's involved searching far and wide across the internet for useful tools and resources to help make the process a little less painful.

I was quite nervous about how I was gonna deal with Steemit. That was until I discovered a great website called steemreports.com. There are two pages that make it very useful:

http://www.steemreports.com/accounts-reporting-tool/ (for full transaction history & capital gains)

http://www.steemreports.com/financial-accounts-summary/ (for income tax)

In this video, I provide an introduction to both of these resources and how they might help you calculate your own tax liabilities.

DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.


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Much appreciated for this. I was late to get on the Steem train but now that I am, and it is tax time, I was thinking about having to report Steemit earnings next year.

I will bookmark this, thanks!

Wow, very helpful, will definetely use these! But how do you calculate the currency conversion? Do you do it monthly or for every transaction?

Thanks for sharing this post, at least i know where to go if i need to check my steem income

I’ve been wondering about Steemit income and the tax implications for a while. Thanks for the resources.

Quite interesting and useful post. The steemit platform is revolutionary but also complex. Good thing you discovered steemreports.com.

thanks

I really believe you video should be called How to Calculate Your Income for Tax Reporting Purposes, with the way it is titled now, you make it seem like you have a video that shows you how to calculate your tax liability

Everyone should consult a tax advisor prior to establishing their tax position.

Also, for Canadians this web site is being developed.

https://canadian.tax/

I hope that they finish it soon.

Thanks for sharing this resource. Steemit has a lot going on so definitely one of the more complicated platforms so this should help with the process.

Upvoted and resteemed :)

Thank you! Been wondering how to pay taxes on Steem.

Hey, great video! Would you mind checking out my channel and letting me know what you think?

well um, I gotta make some money first lol

good post

this is helpful, good video and thanks for share

Good looks!

Huh it says my account could not be found
Bummer

Regardless this is great info!
Maybe they are still working bugs out! Thanks for putting this together

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I think you the first person who raised something interesting besides "getting paid for blogging" people forgot that there are taxes to be paid when dealing with crypto thank you for reminding this.

Thanks for the resources. I will definitely keep this in mind tax season comes along.

very interesting, resteemed, very good info to have....

Though still in development this tool is quite useful, but need improvement on it's appearance. Thanks for sharing @louisthomas

Hi all,

If anyone has questions regarding Portuguese and Dutch taxation, you can contact me on: https://www.fiverr.com/thomasmaasnlpt

Steemians get a discount :)

ty for sharing, nice to know

Thanks for the information very helpful. 👏🏻

Thanks for posting this! Some will find it useful. Although I'm nowhere near taxes on steemit profit. Need to make more spinach (steemach) first :)

Useful information! Yet to get there but like everybody says.. Failing to plan is planning to fail haha! Thank you.

YOU'RE MY HERO!! i was freaking out about this too

if you don,t mind me asking how much do they tax you percentage wise on your gains? i am relatively new to crypto.

I like it nice post

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