Wikipedia explained
BLACK TAX to mean, giving to parents, siblings, and other family members, often out of obligation, or a deeply ingrained sense of family responsibility.
Social life from a more distant scope is not only carried out for other people who are not related by blood, but must also be given to close relatives like you said. Obviously this is a responsibility because after all they are part of our family.
Now, for us to better understand this, many of us feel it's our responsibility to take care of our parents, sibling(mostly the younger ones), and other family members like our aged uncles and aunties, maybe even nephews and cousins, most especially those without parents anymore, and to achieve this, we sometimes inconvenience ourselves, put our own plans on hold, to make sure their own needs are taken care of first.
Parents have become an obligation for us as children who must pay attention to, care for, provide food and other things needed by him, because without the prayers of our parents, whatever we do will not be a blessing. That is the pattern of upbringing that continues to be conveyed to us as children who are devoted to their parents, but for other families we can postpone when we want to give, when our ability is not yet established to do so.
So, born from my own personal experience, or should I rather say what I am currently going through, I will like to ask this honorable forum members, How are you dealing with Black Tax after making money from crypto?
Simple. Do whatever you can give and prioritize for your parents, then your sustenance will flow smoothly, don't be too calculating every time you give something to your parents, because they have worked hard to educate and raise us when we were small.
Personally for me, it's been hell really, on a monthly basis, I make good amount of money from my several crypto activities, like trading, staking, investments, my participation on forum ad signature campaigns and all that, but at the end of the day, its as if I am not even trying due to personal and family expenses( family expenses mostly since it does not even allow me take care of most of my personal expenses), with the total amount of money I make every month from all my crypto activities, I should be a millionaire (in my country's currency please) by now Economically, but I discover I am still like the average person I was years back before I entered crypto(a slight difference though).
Like my previous advice, it's better to prioritize the needs of parents, while for other families, make a scale of giving according to ability and if we can't give this month, say next month we will give it. Our responsibility as children is only to our parents, while giving to other families when we have more money because if we continue to force giving to all families then our preparation for life in the future will stop. Unless we have a source of income above the average that can meet all needs to support the entire existing family, but if it is not established it is better to prioritize parents first.
The scaling of expenses must also be adjusted according to income because when the two are out of balance, you just don't have a pattern and strategy for living life. Furthermore, you really understand trading strategies in crypto but fail to strike a balance between income and expenses. For us it is very strange and quite in pity?
