I was curious if my steem income was subject to taxes. I would hate to earn all this $$$ and then find my self behind bars for failing to pay my taxes. I'm worried that my tax accountant is not going to even know what crypto currency is let alone how to legally report it on my taxes. There is the option of ignoring it and not reporting. The chances I get caught are pretty slim, but if I do get caught Yikes! Most likely will need to pay the taxes plus penalty, if i don't have the funds I might get a new orange outfit.
I'm too pretty to go to jail!
We are in a bit of the grey area of the law but when we talk about substantial sums that most likely are subject to taxes, I feel like the discussion is long over due. I'm sure numerous community members have not prepared for this eventuality and now is the time to consider what you are going to do.
I found this site with a bit of information https://en.bitcoin.it/wiki/Tax_compliance . Put aside your views on government and taxes and offer some sound legal advice if you have any.
