Another year has passed, and it was time to go pony up the extortion fees to the Gubmint. I mean, those payloads of freedom they drop in third world countries to protect the assets of the worlds elite won't pay for themselves, and ya don't think those capitalist overlords would pay for the bombs themselves. Capitalism is for the lower classes, the upper echelon preferring a more socialist approach where the majority pay for their gains.
I will confess, I was a bit nervous. Last year I had to pay much more than I had anticipated. My book royalties clocked in at over 19k. I had thought I would have owed less, using the rich dad poor dad methods from my swap meet/auction business. I had thought WRONG. I still remember how horrified I was last year as the extortion preparer looked up with a smile on her face, proud at all the "savings" she had created for me. I imagine this was what my face looked like as her soul laughed maniacally at my circumstances.
I wasn't sure what to expect this year, but was feeling a bit queasy as I made my way on the bus to my appointment with the dark ones. I mean, sure, my life was a financial wreck last year, my royalties almost non existent, the business gone. Hell, I had to take a low wage job that was within walking distance after losing the SUV. But they want their pound of flesh, and I wasn't sure after all the trimming if I had that pound to give.
Especially after all the confusing things I have read regarding crypto and taxes. I know many of the crypto purists are aghast at the idea of paying taxes, but they will be looking to make examples to scare the rest into compliance, and the way my luck runs I would be one of those examples, if you catch my drift. I'm Irish, and so was Murphy.
Paying Taxes On Steem Earnings
I sat in their lobby, my carpal tunnel complaining as I held the reams of papers. Unsure what to expect, I had printed off the years daily highs and lows from Coinmarketcap. Finally, they called me back and we sat. Putting off the crypto, I gave her my W2 and 1099's. Her eye dropping again and again to the stack of papers I had mentioned as nonchalantly as I could we would get to, after the "easy" stuff. Finally, she finished the "easy" stuff, and I began the quest of trying to explain Steem, SP and author/curation rewards.
As luck would have it, whatever demon is in charge of doling out Murphy's luck upon us Irish must have gotten distracted, as their crypto expert came into the office in mid explanation as she searched the internet for answers she didn't have. He listened for not even a moment, said to claim the value at year end on the total earned, case closed.
My heart laughed as the FUD being so great had caused Steem to be worth .27 I believe it was at year end. So not as bad as I thought, and I even escaped with a small refund owed to me, as I now have it on record I made the Steem. I know many here are not paying, but I felt it was smarter for me to do so. I believe one day Steem will be worth at least what Ethereum is right now, and I don't want to someday be a millionaire from Steem trying to explain to the IRS how a broke ass like myself suddenly was no longer a broke ass. Explaining while they freeze my assets and lawyers are whispering about deals to minimize jail times and shit.
So that was my day with the tax man, and now I just need to get that refund so I can test that new debit card entry through Binance.