Topic: Anybody in the US mine at home and call it a business? - page 3. (Read 1353 times)
Can you just start a mining business? Call it Joes Mining or whatever. Write off the equipment and electric bills. Keep track of your monthly mining income. Pay your taxes and call it a year. Did you start an LLC , INC or Sole Proprietorship? Does the government consider mining an occupation? If you write off equipment and sell it later for new stuff. Then you pay income tax on the sale of that equipment also correct? I am thinking about doing this. I have a 3600sq ft building in my yard I could use. I would open up a mining business bank account to run everything through and get my accountant on speed dial. Is this feasible or am I getting in over my head?
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