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RE: Steem Taxes
Technically, you are required to pay taxes on the value of what you earn. Example, if you work for a publicly traded company and get stocks as a bonus, you have to pay tax on that even if you don't sell the stocks. Usually companies will actually take the tax out before they even give you the stocks. I'm not a tax professional and I don't like it either!
Technically, I don't even care. I don't work for a publicly-traded company and my rewards on this platform aren't stock. The government has been very clear about how they don't classify this stuff. So, if I decide to pay them anything, it'll be as if it were income or capital gains. I'm not interested in their absurd calculations and other political douchebaggery. They can't exactly tax me on holdings that they cannot prove that I own.
I suppose they can try...
Do you playa!
Hi, I am clearly very late to this thread but I just want to clarify. "get stocks as a bonus" In the US tax world:
If employee is awarded straight stock free of all restrictions for a bonus I would agree there is immediate taxation, however this is usually not how it works with public companies - you would get a restricted award or options. So, for equity based comp that has a vesting, there are three key event dates - the grant date and the vest date (and third exercise date for options), the taxation at each point in time depends on the very specific facts/circumstances. I might write an article just on different options/awards, so that it gets people thinking about how taxation of steemit currencies works.
I'm sure you just meant eventually there is taxes and I am over-killing here, but I was dying to just add that point in.
This is not tax advice to any one individual and shouldn't be used to attempt to avoid taxes/penalties.