@louisthomas I have some resources in my e-book you might like although it's geared for U.S. citizens. It's not a calculator/application, but it discusses the general theory with examples.
That being said maybe I will peer review this calculator from the perspective of, I have my theory of the tax law, so is the template doing everything in line with my expectations? (I just peer reviewed Coinbases's tool).
Thanks for the information, really useful. However, it would be better if we can find tools to evade taxes...XD. Seriously, I think that taxes is one of big issues for crypto-investor, because is a lot of uncertainty around tax laws in most of the countries
I'm sorry, but it seems you are wrong. Government doesn't ask you to submit taxes from the income earned on Steemit. The Government is asking for help to open an account on Steemit and become a whale fast..XD.
Thanks for sharing this information. I think the Government should welcome the blockchain technology, it is transparency makes it so easy to calculate tax.
I hadn’t even thought about Steemit income. Technically for those that make less than $600 in a year I don’t believe it has to be claimed on any tax forms, but over that our will.
I hadn’t started anything until 2018 crypto wise, so I am good to go until next year. Will keep these tools in mind until then.
In the U.S., there are misconceptions regarding the $600 1099-MISC threshold. Form 1099-MISC is a form that businesses ("payers") are generally required to issue for payments at/over $600 to contractors. The truth is, the $600 limit is only relevant as the threshold for the payers' obligation to report to the IRS the payments made to the contractor; however this has nothing to do with the contractors' obligation to pay taxes on income under $600.
For example, if a contractor earns $500, they might not receive a Form 1099-MISC from the business that paid them, because the business was not required to file Form 1099-MISC. In this case, the income is still taxable to the contractor even though it is less than $600.
Thanks for presenting that info, and your other great videos. I'm also based in the UK, and will be talking to my accountant about this stuff tomorrow as it happens. I believe there's a capital gains allowance of around £11,000, so that's something! It still doesn't take all the pain of declaring it away though.
thanks for the information. i know what is steemreport. but I have not understood the tax crypto. maybe i can start learning. please teach us the beginners. good luck @louisthomas
where i live, you pay no taxes on personal gains whatsoever, legally, you are not required. you just pay income tax if you are an employee or gain tax if you own a business, but if you are an individual without a registered company, nor a regular job, then you don't pay any direct taxes to the gov.
stellar info as always! been wondering about this in particular...in regards to steemit and taxes. thanks for tuning me into steemreports.com
Thanks for sharing! Highly appreciate it!
Finally a post on Steemit Taxes! Thank you!
Yeah I was having trouble finding resources myself. Hence why I thought it would be worth putting a video together :)
@louisthomas I have some resources in my e-book you might like although it's geared for U.S. citizens. It's not a calculator/application, but it discusses the general theory with examples.
That being said maybe I will peer review this calculator from the perspective of, I have my theory of the tax law, so is the template doing everything in line with my expectations? (I just peer reviewed Coinbases's tool).
I really appreciate this post, it is very useful for all stemians. I also asked about this ... thanks
Thank you! I hope it can help as many people as possible
Thanks for the information, really useful. However, it would be better if we can find tools to evade taxes...XD. Seriously, I think that taxes is one of big issues for crypto-investor, because is a lot of uncertainty around tax laws in most of the countries
The government asks you to submit taxes from the income earned through Steemit.com? This is interesting.
I'm sorry, but it seems you are wrong. Government doesn't ask you to submit taxes from the income earned on Steemit. The Government is asking for help to open an account on Steemit and become a whale fast..XD.
This is interesting video, the tutorial worth resteem and upvote, this is a wonderful guideline to calculate taxes on steemit.
Thanks for sharing this information. I think the Government should welcome the blockchain technology, it is transparency makes it so easy to calculate tax.
I hadn’t even thought about Steemit income. Technically for those that make less than $600 in a year I don’t believe it has to be claimed on any tax forms, but over that our will.
I hadn’t started anything until 2018 crypto wise, so I am good to go until next year. Will keep these tools in mind until then.
Thanks!
In the U.S., there are misconceptions regarding the $600 1099-MISC threshold. Form 1099-MISC is a form that businesses ("payers") are generally required to issue for payments at/over $600 to contractors. The truth is, the $600 limit is only relevant as the threshold for the payers' obligation to report to the IRS the payments made to the contractor; however this has nothing to do with the contractors' obligation to pay taxes on income under $600.
For example, if a contractor earns $500, they might not receive a Form 1099-MISC from the business that paid them, because the business was not required to file Form 1099-MISC. In this case, the income is still taxable to the contractor even though it is less than $600.
Thanks for presenting that info, and your other great videos. I'm also based in the UK, and will be talking to my accountant about this stuff tomorrow as it happens. I believe there's a capital gains allowance of around £11,000, so that's something! It still doesn't take all the pain of declaring it away though.
this is really good information, all of us feel fear in finance in this steemit. hopefully well it's going forward
the problem is very good, you do have a genius thinking.
thanks for the information. i know what is steemreport. but I have not understood the tax crypto. maybe i can start learning. please teach us the beginners. good luck @louisthomas
Dengan aplikasi steemit ini, Semoga semua kita bisa sukses..
What is tax crypto???Im not understand @louisthomas
Good information to us, whether it is in accordance with the law of taxation
Thanks, this is very helpful
funnily enough I was asking my husband about this the other day , I think he will find it very useful, thanks - @louisthomas
Just don't declare.
I hate taxes..
where i live, you pay no taxes on personal gains whatsoever, legally, you are not required. you just pay income tax if you are an employee or gain tax if you own a business, but if you are an individual without a registered company, nor a regular job, then you don't pay any direct taxes to the gov.
Can't wait to start rolling those gains.l
Thanks for highlighting these important and very useful resources
Steemit income has always worried me when it comes to tax time. This definitely clears some things up! Great video thanks for the advice @louisthomas
Oh me Oh my, I never even thought about tax!!!
Scary.
👍
I read the last post and didn’t see this video b4. Watching now!
Keep doing what u do👍
It’s very helpful