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Topic: Bitcoin Mining Taxes for USA/Mexico (Read 3127 times)

hero member
Activity: 1063
Merit: 502
RIP: S5, A faithful device long time
December 15, 2015, 01:29:16 AM
#9
If I mine Bitcoins in Mexico but live 100% of the time in USA, do I need to pay taxes in USA or Mexico?

What is the tax law regarding to bitcoin mining for Mexico?




More less then Finland. Nighshift work you have to pay 60% taxes!  Angry And job is hard to find. Now im working NOT PAYED JOB at foundation, great place.
jr. member
Activity: 57
Merit: 10
December 11, 2015, 11:54:02 PM
#8
You don't have to pay taxes for mine cryptocurrencies. Only if you sell them for fiat money.
As long as ou keep the coins and use them to buy directly with them, 0 taxes are paid.

You're wrong.

In IRS Notice 2014-21, bitcoin mining is considered income on the date of receipt. You need to work out the number of mined coins * the daily price. and declare it as income. You will pay taxes on that income like any other income.
full member
Activity: 175
Merit: 100
December 04, 2015, 03:13:29 AM
#7
If I mine Bitcoins in Mexico but live 100% of the time in USA, do I need to pay taxes in USA or Mexico?

What is the tax law regarding to bitcoin mining for Mexico?




You don't have to pay taxes for mine cryptocurrencies. Only if you sell them for fiat money.
As long as ou keep the coins and use them to buy directly with them, 0 taxes are paid.

This may not be true. My understanding is that IRS treat bitcoin as property. So when you buy other goods with bitcoin, you have to pay capital gain tax on bitcoin as well.
newbie
Activity: 14
Merit: 0
December 01, 2015, 02:16:22 AM
#6
If I mine Bitcoins in Mexico but live 100% of the time in USA, do I need to pay taxes in USA or Mexico?

What is the tax law regarding to bitcoin mining for Mexico?



Hi ,this is Michael Chan from bitmaintech , I wonder what kind of machine u ar eusing for mining ? How is mining in Mexico ?
[email protected] . skype:jainghu441 , Tel./Whatsapp: +8613838248258
sr. member
Activity: 433
Merit: 250
April 26, 2013, 04:09:14 PM
#5
If I mine Bitcoins in Mexico but live 100% of the time in USA, do I need to pay taxes in USA or Mexico?

What is the tax law regarding to bitcoin mining for Mexico?




You don't have to pay taxes for mine cryptocurrencies. Only if you sell them for fiat money.
As long as ou keep the coins and use them to buy directly with them, 0 taxes are paid.

Thank you
full member
Activity: 154
Merit: 100
April 26, 2013, 03:51:44 PM
#4
If I mine Bitcoins in Mexico but live 100% of the time in USA, do I need to pay taxes in USA or Mexico?

What is the tax law regarding to bitcoin mining for Mexico?




You don't have to pay taxes for mine cryptocurrencies. Only if you sell them for fiat money.
As long as ou keep the coins and use them to buy directly with them, 0 taxes are paid.
hero member
Activity: 675
Merit: 507
Freedom to choose
April 26, 2013, 03:49:26 PM
#3
Are you a US citizen? If yes, the US owns you forever no matter where you live and you have to pay tax, or file until you relinquish your citizenship.

scary huh?
hero member
Activity: 658
Merit: 500
April 26, 2013, 01:13:26 PM
#2
Are you a US citizen? If yes, the US owns you forever no matter where you live and you have to pay tax, or file until you relinquish your citizenship.
sr. member
Activity: 433
Merit: 250
April 25, 2013, 08:23:17 PM
#1
If I mine Bitcoins in Mexico but live 100% of the time in USA, do I need to pay taxes in USA or Mexico?

What is the tax law regarding to bitcoin mining for Mexico?


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