I worry about my next tax declaration. They will never believe you!
The worth of a Masternode is more than half a million dollar today and there is no stop.
It was 10k at begin of the year (last tax year) and remember not so long ago (3 years or so) it was just 1000 dollar!
If it makes you feel any better. There are a LOT of people here that will have to fill taxes - me being one.
The closer it gets the more work I see that I'll have to do.
Taxes on crypto are not hard, just complicated - lots of math....
I too have wondered if the good ole' tax-man is gonna believe me - lol
To go from high-poverty/low-middle to high-middle in 2017 - quit my job in July - Cash some crypto out for the 1st time - School loans paid-in-full - Couple trips to Vegas, dropped $1K+ per day, lol - and the list goes on and on.....
I believe that just being honest with everything is best. Even more so since, for some of us, we have more money than we ever thought we would have and there is no reason to put yourself into 'jeopardy' by cutting the tax-man out of the picture..... besides.... as a responsible crypto-user, you're obligated to follow the laws in your area. Each person that skirts the GUV, just gives them more reason if fuck with us all.....
[steps-off-soap-box]
.......................................... anywho
- ramble'n on
$600 by 00:01 UTC tonight?
I'm going for a PLC, private limited company, to keep as much funds as possible within the company and pay out dividends.. all to cut back on the taxation. Still, better to play things safe and by the book as I do not the government to come knocking when the crypto-assets are worth a considerable amount.
$600, sure why not, at $584 at the time of this post we are getting close!