Well even shifting business without emmigration should be enough. But I like hedges.
Law is not black and white. In a way it is like with money. Money is what money is. Legal is what ppl with power say is legal. It is the bitter truth.
I know that what I am doing is on the edge of legality, but one day I can as well wake up on the other side and that is not what anyone wishes.
Law about (international) taxation have different interpretations. Also many subtle things that are forbidden, are for sure breached by many and in the first row by corporations. It is not that everyone is evil. Markets are tight, so the ones who do not go to the edge with expenses (and taxes are direct expense on money paid and indirect expense with all the accountants etc.) are eliminated.
In short. The effective income tax from capital is aiming to zero. The taxes that will exist are VAT and other consumption taxes, taxes from physical property and then everything that will pay the middle class that is scared of their asses (the poor have no money and the rich will always find the way to the edge).
Topic: Bitcoin taxation ?? (Read 1764 times)
You gotta gamble to win...
The trick is that governments and corporations are all very very slow and have no realincentive to go after people that think at least a bit forward. There is no need to underestimate them, but there is no need to overestimate them at all. The official structures simply are full of normal lazy people.
I have quite big online business. I do not pay taxes. When it became bigger, I went offshore. When it became huge, I went into emmigration in South America where nobody gives a shit what you are doing elsewhere. But that is official economy, even where it is not necessary to pay taxes (income taxes, VAT is better not to touch, evasion is problematic).
Bitcoin is different and easier: no one has clue and no one will have clue for long time. Even if they tax and regulate it now, (and I hope they will, because it will make btc only stronger), they will have no tools to detect and proove anything inside btc circulation.
Really the worst thing is to report ourselves, only because one wants to sleep well. Here - at this compromise - the horror starts. The best way how to survive and push things forward is to be invisible and always have some cover up story about ourselves as being honest middle-class citizen.
The trick is that governments and corporations are all very very slow and have no realincentive to go after people that think at least a bit forward. There is no need to underestimate them, but there is no need to overestimate them at all. The official structures simply are full of normal lazy people.
I have quite big online business. I do not pay taxes. When it became bigger, I went offshore. When it became huge, I went into emmigration in South America where nobody gives a shit what you are doing elsewhere. But that is official economy, even where it is not necessary to pay taxes (income taxes, VAT is better not to touch, evasion is problematic).
Bitcoin is different and easier: no one has clue and no one will have clue for long time. Even if they tax and regulate it now, (and I hope they will, because it will make btc only stronger), they will have no tools to detect and proove anything inside btc circulation.
Really the worst thing is to report ourselves, only because one wants to sleep well. Here - at this compromise - the horror starts. The best way how to survive and push things forward is to be invisible and always have some cover up story about ourselves as being honest middle-class citizen.
There are enough loopholes in the current tax systems to legally reduce the amount of taxes one pays.
Tax avoidance is legal, tax evasion is not.
As you say, shifting businesses offshore and emigration are perfectly legal ways to reduce tax liabilities.
Hell, even established companies are carrying out 'reverse-mergers' to reduce taxes.
You gotta gamble to win...
The trick is that governments and corporations are all very very slow and have no realincentive to go after people that think at least a bit forward. There is no need to underestimate them, but there is no need to overestimate them at all. The official structures simply are full of normal lazy people.
I have quite big online business. I do not pay taxes. When it became bigger, I went offshore. When it became huge, I went into emmigration in South America where nobody gives a shit what you are doing elsewhere. But that is official economy, even where it is not necessary to pay taxes (income taxes, VAT is better not to touch, evasion is problematic).
Bitcoin is different and easier: no one has clue and no one will have clue for long time. Even if they tax and regulate it now, (and I hope they will, because it will make btc only stronger), they will have no tools to detect and proove anything inside btc circulation.
Really the worst thing is to report ourselves, only because one wants to sleep well. Here - at this compromise - the horror starts. The best way how to survive and push things forward is to be invisible and always have some cover up story about ourselves as being honest middle-class citizen.
The trick is that governments and corporations are all very very slow and have no realincentive to go after people that think at least a bit forward. There is no need to underestimate them, but there is no need to overestimate them at all. The official structures simply are full of normal lazy people.
I have quite big online business. I do not pay taxes. When it became bigger, I went offshore. When it became huge, I went into emmigration in South America where nobody gives a shit what you are doing elsewhere. But that is official economy, even where it is not necessary to pay taxes (income taxes, VAT is better not to touch, evasion is problematic).
Bitcoin is different and easier: no one has clue and no one will have clue for long time. Even if they tax and regulate it now, (and I hope they will, because it will make btc only stronger), they will have no tools to detect and proove anything inside btc circulation.
Really the worst thing is to report ourselves, only because one wants to sleep well. Here - at this compromise - the horror starts. The best way how to survive and push things forward is to be invisible and always have some cover up story about ourselves as being honest middle-class citizen.
Nobody has to pay taxes. ...
I see what your saying about a governments limited abilities, but make no mistake if you are caught... You owe the taxes, the interest, penalties, and you may do some time. You must consider if it is worth the risk.
Nobody has to pay taxes. There is no way they could track someone down in close or distant future. That is simply nonsense.
Unless you dealwith your bank account in your country and exchange BTC there and back, there should be no problem. Anyways I do not understand why people do not have bank accounts in different countries. Aside from my offshore companies, I have bank accounts except my country in Lichtenstein, Austria, Latvia, Brazil and Paraguay.
It is not vital to think about this world in binar terms - allowed/not allowed. Most things that have to be done simply are not allowed and are illegal. But who gives a fuck, when you are not punishable?
They can tax Bitcoins as much as they want, but unless you are real stupid, nobody will know anything. All the big brother theories are nonsense.
Why was Silkroad closed down? Because owner did some basic stupid mistakes, not that they hacked into his computer. Why were so many bitcoins seized? because the idiots left wallets in their computers, sometimes with passwords. Etc. Etc.
Unless you dealwith your bank account in your country and exchange BTC there and back, there should be no problem. Anyways I do not understand why people do not have bank accounts in different countries. Aside from my offshore companies, I have bank accounts except my country in Lichtenstein, Austria, Latvia, Brazil and Paraguay.
It is not vital to think about this world in binar terms - allowed/not allowed. Most things that have to be done simply are not allowed and are illegal. But who gives a fuck, when you are not punishable?
They can tax Bitcoins as much as they want, but unless you are real stupid, nobody will know anything. All the big brother theories are nonsense.
Why was Silkroad closed down? Because owner did some basic stupid mistakes, not that they hacked into his computer. Why were so many bitcoins seized? because the idiots left wallets in their computers, sometimes with passwords. Etc. Etc.
But HOW they know i have coins if i always use TOR for accessing my wallet and the internet
Because the US government runs all the TOR endpoints?
No they don't. You could run a TOR exit node at home if you wanted. There are guides freely available on the TOR project website.
You can, but he's talking about using other exit nodes. Chances are whatever exit node he hits is going to be someone either trying to track what he's doing or steal his bitcoins.
Bitcoin has always been taxable.... ever since the genesis block was mined. All events which generate income/capital gains are taxable, unless specifically exempted by the government.
What we have now is more clarity related to bitcoin taxation.
What we have now is more clarity related to bitcoin taxation.
But HOW they know i have coins if i always use TOR for accessing my wallet and the internet
Because the US government runs all the TOR endpoints?
No they don't. You could run a TOR exit node at home if you wanted. There are guides freely available on the TOR project website.
I don't want to blow your mind, but there isn't a conspiracy here. It's just taxes.
Question for the more law savvy here: What if I sent 30 btc to a "friend" overseas at $500 a piece. Then a couple of months later when the price per btc reaches $1,000, your "friend" then "sells" back the btc to you and you immediately buy something of value for it. There is no net gain in this scenario.
There was never a time when bitcoin was tax free. Indeed there is no such thing in the U.S. as tax free capitol gains.
Indeed if anything it was more, well we don't know what it is we can't figure out why your trying to tax it
Now its like wait a minute now we get it your taxes are accepted.
There was never a time when bitcoin was tax free. Indeed there is no such thing in the U.S. as tax free capitol gains.
You are right.
There was never a time when bitcoin was tax free. Indeed there is no such thing in the U.S. as tax free capitol gains.
wasn't this an old news? irs is taxing bitcoin since months already, but usa isn't the entire world, most country will not tax it fortunately
using a Swiss bank account does not help any more in avoiding taxes
But HOW they know i have coins if i always use TOR for accessing my wallet and the internet , and i only buy/sell BTC with cash ?
And if i have a lot of coins i could spread them into several wallets.
And if i have a lot of coins i could spread them into several wallets.
They won't, but you or someone you dealt with sooner or later will make a mistake and they will find you. If anything, by the way, having to pay taxes on Bitcoin legitimizes its position among other currencies globally, and that may only be a good thing for everyone using it today.
Bitcoin was never intended as a way for you to avoid paying taxes.
You need to pay your dues no matter what currency you use.
You need to pay your dues no matter what currency you use.
do you still use Tor? don't you know bug has some bugs that will cause the fund in your bitcoin wallet be lost?
Quote
and i only buy/sell BTC with cash ?
And if i have a lot of coins i could spread them into several wallets.
I don't think there is any problem with your method. Note that You should use new generated address to store your bitcoin, not the one that has incoming transactions from any public known party where you have registered your personal information with them. And if i have a lot of coins i could spread them into several wallets.
That is the reason people are selling BTC for the last 3 weeks.
We will see what will happen shortly.
We will see what will happen shortly.
But HOW they know i have coins if i always use TOR for accessing my wallet and the internet
Because the US government runs all the TOR endpoints?
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