If I buy 5000$ bitcoin, trade, and cash out 5000$ (same amount) at the end
somehow someone take automatically tax from 5000$ added into my bank account?
I don't have to take any action??
Thanks!
Topic: Are you going to pay taxes? - page 17. (Read 18733 times)
Are you going to pay taxes on your Bitcoin profits?
Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.
You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.
Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.
You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.
Yes. It's cheapest way to not have more money stolen from you or go to jail.
But there are ways around it like in some countries when you spend your bitcoin, the capital gain is does not apply.
Always pay your taxes. They have guns.
Paying to have a country run and provide necessary services is a good idea. It's just when politicians get greedy it becomes harder to justify.
Are you going to pay taxes on your Bitcoin profits?
Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.
You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.
And there is a choice, I do not see a choice, since any profit will be taxed. This is inevitable, if it is certainly official earnings and not in the envelope, then it is possible. Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.
You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.
I think every capable person should pay taxes.
I will pay my tax to help my country.
I will pay my tax to help my country.
Are you going to pay taxes on your Bitcoin profits?
Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.
You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.
Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.
You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.
If the government requires it to, then I guess I have nothing to do but to submit to their demands. It would be illegal to not pay taxes if the government declares it necessary. I don't want to stop doing what I am doing that's why I will just abide to their rules. The way I see it we don't really have a choice after all.
i agree with you, rather than having lots of money but you can not enjoy it because you are behind bars then better pay our taxes right?
Are you going to pay taxes on your Bitcoin profits?
Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.
You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.
If it is in the law. Why not. If it can help my fellow citizen why not. If it is not to be used for illegal works, why not. I am a citizen that belieces that if it is for the goodness of my fellow countrymen, why not. Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.
You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.
Are you going to pay taxes on your Bitcoin profits?
Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.
You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.
paying tax in the government is an obligation for every citizen of a country, though TAX shall be approved and be a law first, second, having a 50% tax in bitcoin is way too much for that. if you will invest 1000 USd you need to gain 2000 USD to make a 500 profit. this is not OK with everyone having bitcoin. this tax you are telling is way too much. Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.
You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.
yes. because paying tax is a responsibility of every people in every country. actually here in our country in every transactions that I made to get to get my wages they already deducted the tax. the only thing that we can do in the taxes that we've paid is hope that it will use in the right way
In our country, there are already fees required when doing the transfer and the conversion so I can say that somewhat we are getting taxed for every transcation so there might be no more need for additional tax.
Are you living in Singapore? I heard that in Singapore there is a GST applied over crypto-coin trading. But if you are living in some other country, then you may be mistaking the exchange fee for taxes. When you pay a fee in the exchange, a part of that goes for the miners in the form of transaction fee. The remaining part is kept by the exchange itself. None of that ends up with the government.
I'm going to pay taxes. This is important for my country. This money will go to the kindergarten schools and hospitals. I do not mind about 20% of the profits are went to taxes
Taxes helping one's country to develop its economic system. Without this education can't be supported and many people will be unemployed.
In my opinion Yes because to have and achieve a beautiful future for our young ones lets help our government to have funds for the betterment of our country to attract some investor to for our country. The income that I received here in bitcoin is much enough for me and for the needs of my family so why not give some amount (some percentage) for the betterment of our country.
Do you all really believe that govt will use your taxes to improve country's infrastructure, education, healthcare and not to buy yachts, luxury cars and prostitutes' services for themselves?!
In my opinion Yes because to have and achieve a beautiful future for our young ones lets help our government to have funds for the betterment of our country to attract some investor to for our country. The income that I received here in bitcoin is much enough for me and for the needs of my family so why not give some amount (some percentage) for the betterment of our country.
interesting question: is there a list of countries that charge taxes from crypto? I know only USA. What other countries do that?
In our country, there are already fees required when doing the transfer and the conversion so I can say that somewhat we are getting taxed for every transcation so there might be no more need for additional tax.
I don't see the point of living deceiving and sleeping troubled...so I pay taxes
It is your civil right to pay taxes and duties for development, so why wont you pay tax. I will pay and demand accountability from goverment.
What if the government refuses to become accountable? Do you agree with stopping the tax payments, if the government becomes unaccountable with the tax revenues? Here in India, the situation is really crazy with just 1.5% of the population paying the income tax. And the government is imposing more and more taxes on this 1.5%.
Are you going to pay taxes on your Bitcoin profits?
Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.
You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.
Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.
You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.
If I convert any to dollars sure. In the US any profit over $200 for the year is federally taxable I believe. Of course profit is how much you sold the coins for minus the price you bought them for.
Well if I can I will definitely avoid paying taxes to my government because I do not believe in it.
It is your civil right to pay taxes and duties for development, so why wont you pay tax. I will pay and demand accountability from goverment.
Taxes helping one's country to develop its economic system. Without this education can't be supported and many people will be unemployed.
I'm going to pay taxes. This is important for my country. This money will go to the kindergarten schools and hospitals. I do not mind about 20% of the profits are went to taxes
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