Hello community,
It’s would be greatly appreciated
For SNOs to receive a monthly payment receipt with payment details for held ammount, bandwidth, requests and capacity.
Is a monthly receipt for storagenode operators is in the roadmap ?
Thanks and regards to all Storj
It’s not exactly a monthly receipt, but I know a lot of plans exist to add such information to the web dashboard. And some of it is already there.
What I can say is that the node is already keeping historic information about bandwidth and storage usage. It’s what I use in the earnings calculator. That may help you answer some of your questions already, while storj is working on providing more through the official dashboard.
Perhaps we can have a statement/receipt emailed out to the SNO?
For my perspective, I’m a medium size node operator with around 50 nodes today. The resources I use belong to a business, so it makes fair sense to put the income payments there, but ideally I need some kind of basis for the transaction like a receipt or similar. At least something that verifies that no VAT is included in the amount I get paid.
I can probably make do without, but it would be a little bit more accounting-friendly to have something.
Just in case someone needs it. I do have a script that takes my wallet address as input and gives me all of my transactions in a format that my tax tool can understand. This is not a payment receipt. I mean this more as an addition to simplifying filling out the tax report. Depending on your needs you still need to make screenshots of the storage node payout dashboard.
One other solution would be to fix the multinode dashboard. It also has access to the historical data of each storage node. Unfortunately the page for that was never finished. If someone wants to tackle that I would be available to help.
In terms of taxes, the dollar amount needs to be recorded at the time of receiving payment and not by what the dashboard says. Even though it’s usually close, price fluctuations can cause minor differences. If you were to get audited, your extortion agent will care about what’s on the blockchain, not your node dashboard.
A receipt for payments made, would be really helpful for accounting and VAT.
It really sort of depends on the laws around crypto and the country you are in. From Storj’s perspective we aren’t sending you money. We are sending you an item. The token. That token has a value. You are the seller of that token.
In some places, they are interested in the tax being paid at the time of the sale. So, when you sell the token for its value at whatever time it is you sold it, is when they want to collect tax.
In other places, they want the tax collected when the item exchanged hands. Or wallets in this case.
And this also all depends on whether your country considers the token an item/commodity, or cash/security.
For this and various other reasons, it would be difficult to provide a receipt that you are looking for because we aren’t sending you dollars. We would be giving you a receipt that says the same thing the blockchain shows. We sent you x tokens at this time.
I suppose it could have a value at time of sending attached to it, but this is easy enough to look up online and again, isn’t typically tied to the time you sold it at, what fees you paid, or if you are still holding it.
I have literally received a letter from the IRS that read, “We know you have exchanged cryptocurrency for cash. This needs to be added to your filings if it isn’t already there. Otherwise you could be subject to an audit.” I have been filing my token earnings for years with the IRS, so that wasn’t a problem for me. But it was interesting that they sent out a letter saying they knew I’ve exchanged crypto. They didn’t say how much, or when or where, just that they knew I did. My guess is a lot of people involved in crypto didn’t file their earnings/exchange and were surprised when the letter from the IRS appeared in their mailbox.
Just the other day, I got a message from Kraken (An exchange) that said the IRS has forced them to send the information of anyone who exchanged over a certain dollar figure, and I was one of the lucky people to have their info given to the IRS. Again, in my case this is fine, I have been filing my crypto exchanges with them for at least the last 7 years. But just goes to show they are everywhere and they are watching. 