Are you going to pay taxes? - page 24.

Tuare aget

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Quote from: Lynzoi on June 06, 2011, 07:02:22 PM

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 i get income and the rule asking me to pay tax then i will pay it.
Actually its good to pay tax if that money used for build the country.

denulh

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Borderless for People, Frictionless for Banks

I will have to pay taxes no matter what i want or not, i can not hide from the government law.

Barak Ocrypto

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If I'd earn 1 Million dollars with my bitcoins I'd move to a country where I don't have to pay taxes - as simple as that! Cheesy

Tramle091296

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No. Cause the income here is not high and the government is no concern here in thats why i dont want to pay taxes

ColdShoulder

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Taxation is theft. I am never paying tax if I don't have to. So no, besides the one the steal from me. I am never paying tax

patykuprova

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To myself, i really dont like paying taxes, but to my society, taxes from everybody is very important to keep my society works, so i will pay taxes even if i dont want to.

w33man

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Quote from: Lynzoi on June 06, 2011, 07:02:22 PM

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 bitcoin was to be legalized, then it would be entitled for tax. Therefore, all of bitcoin users and any activity involving bitcoin should abide the law by paying tax. As much as I dislike the whole idea, we need to follow the law to be good ctizens.

PepperaOnIt

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sad but we need to pay taxes. taxes is for our country and the government must use it so it is worthy that we pay are taxes. thanks to our country because we do not experience taxes in bitcoin, only workers. but i think when the time come we are all also need to pay our taxes so we do not commit crime. not paying taxes is crime.

SangkuniBird

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Yes I will pay taxes as a citizen who obeys his country regulations. I will pay taxes according to my income per month. because with us paying our taxes at least help us a little our country by paying taxes.

PrinceFE

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YES I'm going the pay taxes because here in the Philippines taxes is very important to the government to build our nation. The salaries of the government employees. And we have different kinds of taxes, the income tax deduction from our salary, the capital gains tax- tax from purchase of land, donor tax if some one gave a land, the vat taxes of our goods we buy, our foods and many other. So i let"s pay our taxes to help our government.

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toahowusu

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Why not ,If I make a supernormal profit. At least that will be contributions to the society

Tomas enck

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of course I will pay taxes. because as a good citizen must be law-abiding and must pay taxes.

nekobod

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For those US tax payers who don't want to pay taxes on their cryptocurrencies' earnings, you may want to read this:

Coinbase IRS Update
https://blog.coinbase.com/coinbase-irs-update-ed9c966c7747

If you intents to not pay, don't ever think Uncle Sam can't get you.

My guss is, if IRS does this to Coinbase, it is doing it to all other exchanges that have US customers.

This article actually made me realized something: many years ago, I invested in a P2P lending platform. For three years I didn't report my earning – not because I tried to cheat, but because I thought it was the same as in stock market, that if you don't sell your portfolio you don't report – the lending platform didn't issue 1099-DIV for the first two years of my investment didn't help either. At the forth year, I got audited for the past three years. My earnings were little so panelties were bearable. This made me think that the chance of the IRS demanded the lending platform to submit all customers' accounts is pretty high, and the company didn't tell its customers (if this is the case it is violating customers' privacy).

DarthToon

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I will pay taxes if gains are a profitable sum, however in my country there isn't a regulation under gains from Bitcoin, so I don't have to....

Nikosgalis1957

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Of course I will try to avoid it. Taxation is theft.

oseikuf44

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My conscience won't allow me to sleep if I don't pay it. So I will do it.

xena2

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Quote from: Lynzoi on June 06, 2011, 07:02:22 PM

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.

Well it is fine with me. As long as it is fair for us. We have spent time and effort here and it would be fare we receive a fair share. That which will be enough for all the effort and time we have spent here.

billsted86

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"Give everyone what you owed him: If you owe taxes, pay taxes; if excise, excise; if respect, respect; if respectful, respectful. "

M05J

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Once you convert your coins into fiat, yes.

Xester

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Quote from: binting on November 13, 2017, 09:09:03 AM

Quote from: Lynzoi on June 06, 2011, 07:02:22 PM

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.

Yes I pay tax little store just need tax.

I will pay taxes. Because taxes are usually used in a good way like helping other people. And it also required because we should pay a little amount that we earn from our work. But this taxes should be use responsibly to avoid misused.

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