You are viewing a single comment's thread from:
RE: How US Tax Treatment of Cryptocurrencies Helps the STEEM Ecosystem
I think a lot of people that are new to cryptocurrencies are probably unaware of the tax implications, thanks for this article! Though I did have to laugh when I read "a modest income of $60,000" :D For me I would feel like a king if I made that much a year! :P
First, thanks for both the upvote and taking the time to comment. I appreciate it.
I suppose the "modest income" phrasing came from the idea that the median household wage (I believe) was about $55,000 per year. I am glad you did get a chuckle from it. After reading your comment, I kind of got one also.
I do agree that many who are new to cryptocurrencies are unaware of their tax obligations. I think even more relevant is people who are writing and receiving both STEEM and Steem Based Dollar (SBD) rewards are earning income for tax purposes and need to value it properly and report it. I did write a blog on that very subject as my first tax blog, but given the tepid (at best) response to the two blogs I have put out on tax, the feedback I am getting is there is very little interest/demand for this subject and/or how I write and present it and I'm good with that. I have decided to table/kill this series because the time put in does not justify the interest level received. My hope was more to educate the content contributors, but the interest just isn't here.