Thanks for your continued work on improving your tool. I appreciate all the work you put in, as well as your active role here in the community discussing it with us. The replies being added is a nice addition.
I mentioned this before, but if you can get your tool to break down earnings say by week it would be invaluable for those of us who will be paying taxes on earnings from the pool. I know I plan on doing so, and based on some guessing imagine I will be overpaying to play it safe. Not sure how feasible it is, but seems you already have a tool gathering the data for alltime/last 30 days/last 7 days so perhaps something could be tweaked if you have time.
As long as there is no taxable event I don't see any need for that. Of course, when doing a payout to an exchange and converting coins to fiat there is a tax event happening, but otherwise I don't see any reason for over-complicating things.
Not sure where you live, but here in the U.S. every payout would be a taxable event. Similar to the royalties I receive in self publishing. What is taking place here through posting and curation is a form of mining, with each payout from the pool being a taxable event.
Edit: Links removed per request.
The way I see it, in normal instances where one is purchasing the crypto, then the tax wouldn't be owed until such a time as one traded or sold (for a profit naturally). In this case however, we are earning what is considered property from our effort instead of money. They still want their slice of it.
I realize many will be ignoring this, and very well may get away with it for years or perhaps forever. However, I believe that in coming years they will seek the seizure of assets over this as a revenue stream, and I would advise others to do as I am and pay now and stay ahead of the curve.
Unbelievable that people are searching for ways to pay taxes whenever they can. It's not taxable, because they can't hack the blockchain and most accounts are just anonymous profiles.
If they should try to tax Steemit rewards directly and without any fiat connection, it will lead to even more anonymously used profiles and privacy coins, which cannot be tracked in any way. They will never have enough agents to walk through all accounts of all blockchains to reveal the identify of the people behind them.
Please remove the links to that mainstream bullshit from my blog. Thanks.
I guess you missed the update from Steemit.inc where they said that they would cooperate with requests from the authorities when they made everyone agree to the new TOS some months back.
I know where you stand now though so won't broach the subject again. My apologies my approach and reasoning seems to have offended you.
Thank you :) Of course, I agreed to the new TOS and I know that they need to cooperate with the authorities, but from a technical standpoint of view they can't give personal information about you to the authorities, because they don't know who you are. We never needed to enter our name or address in the registration process, so it would be nearly impossible to make a connection to one individual with the data they have.
It may be possible for many accounts by watching them long term and trying to connect the available data, but it would be an enormous expense to do so. Many wales and larger stake holders registered an anonymous account (not on Steemit) and there is no data about them stored anywhere.
Of course, people like me can easily be tracked down, because I registered a few servers and websites, therefore I will pay taxes, if I should reach the minimum yearly earnings that is required for paying taxes (which is still not the case for me). It depends on what we are earning elsewhere, but for most people with only a few thousand SP I don't see any risk currently. That may all change in the coming years, but for now the authorities have enough other work to do.
I find it difficult to believe that taxes can be charged on something that has "no intrinsic value". The prices of crypto's vary so much that it is near impossible to place a value on them until they are cashed out. If, as @practicalthought said, that taxes are charged on crypto earnings, one could end up paying far too much in taxes. Suppose you earn Steem at $6 each and pay taxes on 1,000 Steem; That means you pay taxes based on earning $6,000 USD. Then you cash out your Steem at $1 each and only earn $1,000 USD. You just paid 6 times too much tax! Then the opposite could happen and you can bet your bottom dollar they will want a share of the GREATER amount and NOT the amount you already paid them. I can't see filing taxes on crypto until such time as you actually convert to your native currency, which LOCKS IN the supposed "intrinsic value".