Really? Not sure I get it...I want more power so I can earn more STEEM, right? Or is the price balance just that out of whack? In any case thanks for the suggestion.
You are viewing a single comment's thread from:
Really? Not sure I get it...I want more power so I can earn more STEEM, right? Or is the price balance just that out of whack? In any case thanks for the suggestion.
Yes, the price is out of whack. If you go 50/50 and then use the internal market to sell SBD’s for Steem and then power up, you will accrue more SP than if you choose the pure SP option.
As a general rule, when the price of SBD’s is significantly higher than $1 USD, 50/50 is the better option.
Ah, interesting. One reason I don't take SBD is because it makes accounting a nightmare. When you earn SBD, you've earned an asset. You don't have to pay taxes on STEEM Power until you've powered down.
I know many folks here are all about saying "tax is theft," but I treat writing here as a legit business.
It may be worth the extra headaches. I'll think about it. Thanks for pointing that out!
My CPA thinks SBD’s and Steem can be treated the same. 😜
What a freaking mess taxes are if even “experts” see things differently.
I think that your CPA is right. STEEM Power, however, is not earnings according to my CPA. Not until you power down. This post calls it a "Spendthrift Trust" https://busy.org/@taxman/how-are-you-calculating-taxes-on-steem-income