*HELP* What is BEST way to cash out My Steem and Steem Dollars?
What is the:
BEST EASIEST QUICKEST and/or SMARTEST WAY
TO TURN MY 
INTO
SO I CAN DANCE LIKE RICK!!
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The Easiest Way is go transfer your crypto to a trusted friend and have them PayPal you the cash! I do this for many people, but I charge 25% due to the fees and the time it takes to do it, plus the volatility of the prices changing in the cashing out process, plus the taxes I pay on all my crypto transactions because it is right to obey the law. :)
So then what I do is, transfer Steem or SBD to Bittrex. Sell for Bitcoin. Sell that to LTC because the fees are less and the transfer is quicker. Move LTC to Coinbase. Sell to my business checking account.
Might sound like a lot but once you do it a few times, you can do it in your sleep practically!
Oh and don't sell Steem! Power it up because that is your voting power. The best way to get seen in here is to vote someone up with decent voting power! People notice when they get money via votes here. Just sell your SBD if you need to. Not investment advice! Do whatever you need to, obviously!
Hey @kenny-crane!
Thanks for your continued support, advice and especially this advice. I wasn't sure anyone was going to give me any.
What about using Blocktrades and turning it into LTC or ETH. It goes right to coinbase, I can cash it out with only one transaction. I mentioned one of those coins because i wont have to wait days to get it. Are these bad ideas?
I was powering up the Steem, but I need to cash it in right now. I know I will keep working to build it up again. I love this!
25%? Wow, i never even had a NY or LA agent charge that much, lol.😁
~ @bluerocktalk🖖
I have heard that the fees are higher when using blocktrades. But if it is easier then it might be worth it.
If you are selling Powered Up Steem, you have to Power if Down first. You get 1/13 of what you Power Down, every week starting a week after you do it, for 13 weeks. And you can turn it off at any time if you want to stop powering down.
25% is steep, but I am trying to encourage everyone I know to do it themselves! 😁
Some don't want to bother getting verified by CoinBase and Bittrex but that is a requirement so it needs to be done. Some don't want to memorize the steps to take or are worried about making a costly error. So I do have willing customers!
Good for you!!!! 😁 On ALL accounts! 😁
I am powering down now... it takes a long time for sure...
How do you work your taxes with this? Does Steemit provide and tax info, like an annual summary or some sort?
Steemit is like being your own banker and your own boss. They do not file 1099s or any other income doc with the gov. It's up to you to report it on your corporate return or personal return, as blogging income, in your case. Or writing income. However you chose to classify it.
And you can deduct appropriate business costs such as home office, internet fees, etc. If you're not already in your own LLC or S corp, that is a good idea because then the gov considers your deductions more legit business deductions.
when do you claim your crypto as income, after you cash out?
I use "cash accounting" in my business so it gets booked when I cash out and it hits my company checking account.
https://en.wikipedia.org/wiki/Cash_method_of_accounting
And for me, its all regular income, not investment income, because I never invested a cent in Steem, its been all profit from blogging here. And for that, I am very grateful and lucky I got here early!
And oh yeah, this is Not accounting or tax advice. :) I'm not an accountant or tax advisor. Just a small business guy who does software development from home in my PJs. 😁
lol, i understand... what kind of software do you create?
plz sir resteem my post...@jakir007
You are connected to a good job. Can i participate with you?????
I'm a subscriber. I try to subscribe to the people around :)
You know what? You are asking 1 of the most important questions in crypto. I would hope you keep this topic alive. The project I was talking about was all about how to cash out cryptos. So please keep making effort to dig more into this stuff and kindly ask developers you talk to off line/on line regarding this very issue as well. Many thanks.