Things are going pretty crazy all over the place right now.
I seem to get more responses to my posts now too.
But honestly I am completely blown away from the gains on the market so far this week in general. we are living in insane times! No seriously, this is huge, seeing adoption at these levels is beyond normal. This is a paradigm shift in society.
But you can bet your ass, there is going to be some kind of event to fuck this up. And I bet it will be around early next year...
Said paradigm shift is about to hit head on with a lot of people who bought into crypto on coinbase and have no idea how much of a pain in the ass it is to do taxes properly. The vast majority of Americans wont even know you owe taxes on something like crypto currency let alone will they know how to properly report it. Not only that but they never teach this kind of stuff in school and most Americans have their taxes down automatically.
The shit fest will be very real I suspect.
And in the case of steem power, how can you be fairly taxed on that when the coin is locked away for 13 weeks? That cant be right. Imagine someone powering up on January first with all of their earnings from last year. Its possible that this could be a huge mistake and you wont be able to pay taxes. :/
Hey brother! A while back, my favorite comic artist on steemit, the amazing @mynameisbrian wrote a post about how to do taxes and even shared his excel sheet.
Here is the link:
https://steemit.com/taxes/@mynameisbrian/steem-taxes
The question I have to ask is why is it such a hard thing for the common man to understand how to pay his taxes? In developing countries governments battle to get citizens to pay because they don't trust their governments to not embezzle their monies, while in developed ones citizen struggle to understand it. Even your average accountant struggles to understand those modules While in school . A civic responsibility should be the easiest thing to perform, shouldn't it?
😁😁😁 👌 for meme @thecastle
I think the event which will fuck this up will be government banning crypto currencies...As it says cryptocurrencies open multiple ways to skip the taxes and also its possible to make transactions which are untraceable....which might also give rise to illegal activites and government might bann this whole shit