From 479099c838b0db47a9199d79ba70e34717dcb37a Mon Sep 17 00:00:00 2001 From: Josh Finer Date: Thu, 4 Mar 2021 12:50:58 -0500 Subject: [PATCH] Update creator-tax-obligations.md --- content/faq/creator-tax-obligations.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/content/faq/creator-tax-obligations.md b/content/faq/creator-tax-obligations.md index be7e0eb3..724c25b9 100644 --- a/content/faq/creator-tax-obligations.md +++ b/content/faq/creator-tax-obligations.md @@ -4,7 +4,7 @@ category: publisher order: 10 --- -**Important note:** LBRY Inc is providing these guidelines as a service to creators who may earn enough LBC to have to report it for tax purposes. These are just general guidelines for users in the USA as understood by LBRY. Creators are encouraged to seek tax guidance from a licensed CPA. In the US, IRS reporting is only necessary if you earned more than $600 USD/yr, so it would not apply to majority of regular users or smaller creators. +**Important note:** LBRY Inc is providing these guidelines as a service to creators in computing their taxes. These are just general guidelines for users in the USA as understood by LBRY. Creators are encouraged to seek tax guidance from a licensed CPA. ## Income and gains taxes **Two different US taxes can apply on earned cryptocurrency: income tax and capital gains tax.**