Everything you do on the blockchain is recorded. Even though I believe the government has no clue how to handle this right now I'm sure that at some point in the future they will.
Let's say the year is 2023, they have finally realized how this works. They look back in time and see that I had a substantial dollar's worth of STEEM crypto that I didn't pay taxes over in 2017. I think that's fraud. Or tax evasion. It can't be good.
I don't want to hide anything. I want to pay my taxes. I don't mind it. It's good living in the Netherlands and I don't want to worry about these things. That's freedom too.
That's why I always included my crypto holdings in my tax return. (And it probably also has to do with my Dutch need to always play by rules.).
But if crypto keeps going up like it has in 2017 than it might be a little more than they used to this year.
So, I started to put money aside for this already. Just like I do for taxes regarding my company. I think that's a smart move.
But with Steem it's also different now. It's possible to earn crypto with Steemit and the Steem blockchain through content creations and I don't know if this is considered an income (income tax) or a property tax. I have no idea. I need help and I'm looking for it actively.
I talk about it more in my vlog.
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