Never limit your vision based on your current ressources. - Michael Hyatt
When I started to discover Steemit 1.5 years ago, the last thing I had in mind was that this network might become my real workplace one day.
Now this just happened.
I'm an officially registered entrepreneur now, and you can't imagine how excited I am about this fact! Whenever someone will ask me about my job in the future, my answer will be:
I'm a blogger and you?
To be honest, few years ago I didn't even know that this career existed!
As always in life, progress implicates a high learning curve. During the past months I've spent a lot of time studying the labor law related with cryptocurrencies.
Here's what you should bear in mind when planning to become a 'Professional Steemian'.
Getting the paperwork done - 
Debunking a myth: Steem is not tax-free
Maybe some of you have asked themselves why I haven't done any vlogs lately.
Well to be honest, I'm extremely busy in my 'real life'. The way I do it, a vlog requires at least 2-3 hours of shooting, editing and publishing. Currently I wouldn't even have 5 minutes to record a short statement.
A lot of paperwork needs to get done to establish my little blogging business, and the administrational work flows on my island are extremely antiquated and sedate. Also we're pioneers! There are still not many rules defined for crypto businesses.
Jobs where you get paid in cryptocurrencies are still something brandnew when it comes to labor law.
And being a blogger on Steemit is even a special case within that niche, since money is neither earned through mining nor trading like it usually happens in other crypto environmets.
Still ignorance is no excuse when it comes to paying taxes :-)
Sooner or later everything will be regulated, so you better get prepared early.
The fact that most tax inspectors don't even know what digital currencies are, doesn't mean that you don't have to declare the income you generate in your Steemit account. Obviously, each country has their own prevailing laws.
As a matter of course, those countries that entered the crypto market first (like the US) are the ones who're also more advanced in regulation.
In the end everybody needs to inquire their local contact points. I've interviewed several financial experts on my island and on the mainland (Spain) during the past months, and now I feel very well informed.
We're pioneers and there are a lot of gaps and niches within the crypto world that are still neither conquered nor regulated. Still this is just a question of time. The future is only one step ahead!
Is pressing the 'redeem' button in your wallet already a taxable event?
Against the common belief, it could be one.
If you considered your Steem wallet being something like a bank account, then any deposit would be an officially registered income - thus a taxable event.
In many countries that's still part of a grey area, so a matter of interpretation.
Now if the Steem Power you're holding in your wallet needs to be declared, that really depends on your legal residence. In some countries there is no taxable event taking place until you exchange a crypto currency for fiat. Others already recognize digital coins as valid currency (including Steem) - and in that case your whole wallet would be subject to income tax.
Yet 'Steem Power' isn't actually a currency, only liquid Steem and SBD are.
Also both Steem and SBD are subject to a high volatility. That makes defining their value extremely complicated, especially when it comes to calculate taxes on a daily basis.
By the way trading and mining are regulated seperately, which means that different rules may apply here. Again, all these standards really depend on your legal residence and the prevailing law. That's why I can't provide you with universally valid details.
Remember: ignorance is no excuse when it comes to prevailing law :-)
Best of luck for your own doings!
Marly -
Thanks for your valuable time!
This blog was launched at the end of July 2016
aiming to provide stories for open-minded
people who enjoy living on the edge of their lives,
stepping out of comfort zones, going on adventure,
doing extreme sports and embracing the new.
Welcome to the too-much-energy-blog!
PS: Don't forget that this is a troll-free zone.
Original content. Quote found on quotefancy.com.