Some governments are trying to regulate the bitcoin and tax is part of these regulations. But I think it most cases they don't put the taxes on bitcoin itself but on trading with it and other business related to bitcoin. So if you are trader on localbitcoins you have to pay taxes and if you are just holding them.in your wallet you don't.
I think there is currently no government taxes of trade bitcoin. This course is one of the advantages bitcoin than others. but I think that a good citizen is he who pays income taxes. including income from bitcoin.
Topic: Do Bitcoins have Tax?? - page 8. (Read 40193 times)
Some governments are trying to regulate the bitcoin and tax is part of these regulations. But I think it most cases they don't put the taxes on bitcoin itself but on trading with it and other business related to bitcoin. So if you are trader on localbitcoins you have to pay taxes and if you are just holding them.in your wallet you don't.
I think there is currently no government taxes of trade bitcoin. This course is one of the advantages bitcoin than others. but I think that a good citizen is he who pays income taxes. including income from bitcoin. Depends on the country you are living in. Many countries impose conversion as well as income taxes on Bitcoin. Which is not good actually coz the more governments interfere in Bitcoins, the less popularity Bitcoin will have. 
If you start a business and you work with Bitcoin, you have to use it and pay taxes just like you would with your local currency. Otherwise everyone would begin a business that works with Bitcoin only and wouldn't spend a penny on taxes. But for normal, day-to-day use (like ours), Bitcoin is not taxed at all. There is only one fee, the one we are choosing when completing a transaction, and it's not mandatory but recommended for fast confirmation.
From where i am, Bitcoin is still considered as monopoly money by central bank and authorities, so there are no extra taxes on it. Personally, i would not mind to pay taxes on my earnings related to it if authorities would bit regulate market and prevent flood of scams (which hurt Bitcoin lot more than some percentage of eventual tax on it).
I do agreed on this matter, Besides bitcoin from the very start don't have any taxes even in every transactions that we wanna make in the exchange platform.
If you have to force patriotism then there isn't any.
Amen. That should be in the bible, lol. 
I guess this needs to be stated every page. 
In the U.S. You absolutely owe capitol gains tax on any rise in price. No question at all about it.
https://www.irs.gov/uac/ten-important-facts-about-capital-gains-and-losses
And to clarify, the mining fee is payment for service and not a tax. Taxes are levied by governments. Bitcoin is not a government.
In the U.S. You absolutely owe capitol gains tax on any rise in price. No question at all about it.
https://www.irs.gov/uac/ten-important-facts-about-capital-gains-and-losses
And to clarify, the mining fee is payment for service and not a tax. Taxes are levied by governments. Bitcoin is not a government.
It's embarrassing to see how many people understand nothing about taxes. How do they survive in society not understanding their taxation responsibilities and why are more of them not in prison?
Instead of hearing about all this in school, children are still taught under the assumption that sitting in rows leads to a factory job, a house, then a pensioned retirement after 20 years. Yet the economy is nothing like that anymore.
It's sad. The public school system has destroyed society in America. Most young people can't even use the K-12 system to get into an institution of higher learning anymore. Most public universities have remedial "catch up" classes offered that allow the brain dead idiots released from high school to, at least, become semi capable of success. State and federal government history (tainted by government propagandists) is mandatory. K-12 serves no purpose other than programming little state drones. It sure as hell isn't preparing children to become functional members of society.
Quote
California
The state requires the daily performance of "patriotic exercises" in all public schools; the statute states explicitly that reciting the Pledge fulfills this requirement. For primary schools, these exercises are to take place at the beginning of the first class period at which a majority of students begin the school day. For secondary schools, the "governing body of the district maintaining the secondary school" decides the time and manner in which the patriotic exercises are to be conducted. Although California requires "patriotic exercises," there is no facial requirement that students take part in them. Educ. §52720 (2005).
Kansas
The state requires a daily recitation of the Pledge in public schools. Kan. Stat. Ann. §72-5300(1) (2005). No provision is made for students who do not wish to recite the Pledge.
Washington
Students in public schools who wish to recite the Pledge shall do so before all school assemblies and "immediately before interschool events, when feasible." At the beginning of each school day, and at the beginning of each school assembly, "appropriate flag exercises" shall take place in each classroom. Wash. Rev. Code Ann. § 28A.230.140 (2005).
The state requires the daily performance of "patriotic exercises" in all public schools; the statute states explicitly that reciting the Pledge fulfills this requirement. For primary schools, these exercises are to take place at the beginning of the first class period at which a majority of students begin the school day. For secondary schools, the "governing body of the district maintaining the secondary school" decides the time and manner in which the patriotic exercises are to be conducted. Although California requires "patriotic exercises," there is no facial requirement that students take part in them. Educ. §52720 (2005).
Kansas
The state requires a daily recitation of the Pledge in public schools. Kan. Stat. Ann. §72-5300(1) (2005). No provision is made for students who do not wish to recite the Pledge.
Washington
Students in public schools who wish to recite the Pledge shall do so before all school assemblies and "immediately before interschool events, when feasible." At the beginning of each school day, and at the beginning of each school assembly, "appropriate flag exercises" shall take place in each classroom. Wash. Rev. Code Ann. § 28A.230.140 (2005).
If you have to force patriotism then there isn't any.
I guess this needs to be stated every page.
In the U.S. You absolutely owe capitol gains tax on any rise in price. No question at all about it.
https://www.irs.gov/uac/ten-important-facts-about-capital-gains-and-losses
And to clarify, the mining fee is payment for service and not a tax. Taxes are levied by governments. Bitcoin is not a government.
In the U.S. You absolutely owe capitol gains tax on any rise in price. No question at all about it.
https://www.irs.gov/uac/ten-important-facts-about-capital-gains-and-losses
And to clarify, the mining fee is payment for service and not a tax. Taxes are levied by governments. Bitcoin is not a government.
It's embarrassing to see how many people understand nothing about taxes. How do they survive in society not understanding their taxation responsibilities and why are more of them not in prison?
Instead of hearing about all this in school, children are still taught under the assumption that sitting in rows leads to a factory job, a house, then a pensioned retirement after 20 years. Yet the economy is nothing like that anymore.
Some governments are trying to regulate the bitcoin and tax is part of these regulations. But I think it most cases they don't put the taxes on bitcoin itself but on trading with it and other business related to bitcoin. So if you are trader on localbitcoins you have to pay taxes and if you are just holding them.in your wallet you don't.
Depends on the country you are living in. Many countries impose conversion as well as income taxes on Bitcoin. Which is not good actually coz the more governments interfere in Bitcoins, the less popularity Bitcoin will have.
I think of the opposite side, once the government interfere that means it has risen to the level of big popularity and they must regulate it as it has already threaten the them. 
Depends on the country you are living in. Many countries impose conversion as well as income taxes on Bitcoin. Which is not good actually coz the more governments interfere in Bitcoins, the less popularity Bitcoin will have.
Since bitcoin is an internet currency that can be turn into a actual money. And Bitcoin too is known on Government but still government can't observe bitcoin that good. So I'm thinking if Bitcoin has tax??
Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??
Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??
I am not a CPA, so this is a non-professional opinion. You should act on advice from a tax professional.
I am an advocate/activist for small government. Although not an anarchocapitalist, i am sympathetic to the anarchocapitalist perspective, and have many acquaintances who describe themselves as such.
That said, bitcoin transactions are definitely taxable in the US.
Based on Federal court rulings, BTC does not qualify as "money", but rather as an item of value.
It does not qualify as a "currency" in the way that most Americans trade FX (Secs. 1256 or 988 contracts or straddles), at least not yet. But there will probably be BTC futures trading on the CME by the end of Q1 2017.
Holding BTC and then making a transaction triggers a capital gain. To be conservative, you should use first-in-first-out (FIFO) accounting.
It may not seem right or fair, but the tax liability exists whether or not you pay it.
I would prefer to pay taxes as the liability accrues rather than having to pay fines later, or be accused of willful evasion of taxes.
so you're saying that bitcoin is a commodity much like gold, oil, and copper... i've always thought of bitcoin as a currency and so i've voiced opinions that taxes should not be imposed on it but on services and goods that accepted it as payment. your perspective though has helped me gain more insight about bitcoin. i have much to learn.
There is a country that try to take the tax from bitcoin, the government try to collect 8% of bitcoin that their people bought from their legitimate place. But the people are disagree with that. Anyway people can buy bitcoin anywhere they wants which no tax on it.
Bitcoins dont have taxes. But some countries are discussing on imposing taxes on bitcoin earnings.
Governments usually dont like bitcoin development since they loose their tax revenues due to bitcoins.
Governments usually dont like bitcoin development since they loose their tax revenues due to bitcoins.
The question and the answer show a bit of miss understanding, the equivalent would be like saying (about bitcoin the currency not Bitcoin the protocol) does USD have taxes? well... USD the currency in and of itself has no taxation depending on the territory or it has strict foreign exchange policies and stringent taxation again depending on the territory.
The same applies to bitcoin, in and of itself the technology is what it is. But governments treat it differently all around the world.
I guess this needs to be stated every page.
In the U.S. You absolutely owe capitol gains tax on any rise in price. No question at all about it.
https://www.irs.gov/uac/ten-important-facts-about-capital-gains-and-losses
And to clarify, the mining fee is payment for service and not a tax. Taxes are levied by governments. Bitcoin is not a government.
In the U.S. You absolutely owe capitol gains tax on any rise in price. No question at all about it.
https://www.irs.gov/uac/ten-important-facts-about-capital-gains-and-losses
And to clarify, the mining fee is payment for service and not a tax. Taxes are levied by governments. Bitcoin is not a government.
It's embarrassing to see how many people understand nothing about taxes. How do they survive in society not understanding their taxation responsibilities and why are more of them not in prison?
That's the way it works in the USA too. I don't know where you're from but here we are expected to reconcile that every April. It is true that many people here trust a business to do that for them. That business really doesn't care how much of their money they keep. It's so stupid but people are lazy.
I guess this needs to be stated every page.
In the U.S. You absolutely owe capitol gains tax on any rise in price. No question at all about it.
https://www.irs.gov/uac/ten-important-facts-about-capital-gains-and-losses
And to clarify, the mining fee is payment for service and not a tax. Taxes are levied by governments. Bitcoin is not a government.
In the U.S. You absolutely owe capitol gains tax on any rise in price. No question at all about it.
https://www.irs.gov/uac/ten-important-facts-about-capital-gains-and-losses
And to clarify, the mining fee is payment for service and not a tax. Taxes are levied by governments. Bitcoin is not a government.
It's embarrassing to see how many people understand nothing about taxes. How do they survive in society not understanding their taxation responsibilities and why are more of them not in prison?
Since bitcoin is an internet currency that can be turn into a actual money. And Bitcoin too is known on Government but still government can't observe bitcoin that good. So I'm thinking if Bitcoin has tax??
Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??
Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??
I am not a CPA, so this is a non-professional opinion. You should act on advice from a tax professional.
I am an advocate/activist for small government. Although not an anarchocapitalist, i am sympathetic to the anarchocapitalist perspective, and have many acquaintances who describe themselves as such.
That said, bitcoin transactions are definitely taxable in the US.
Based on Federal court rulings, BTC does not qualify as "money", but rather as an item of value.
It does not qualify as a "currency" in the way that most Americans trade FX (Secs. 1256 or 988 contracts or straddles), at least not yet. But there will probably be BTC futures trading on the CME by the end of Q1 2017.
Holding BTC and then making a transaction triggers a capital gain. To be conservative, you should use first-in-first-out (FIFO) accounting.
It may not seem right or fair, but the tax liability exists whether or not you pay it.
I would prefer to pay taxes as the liability accrues rather than having to pay fines later, or be accused of willful evasion of taxes.
I guess this needs to be stated every page.
In the U.S. You absolutely owe capitol gains tax on any rise in price. No question at all about it.
https://www.irs.gov/uac/ten-important-facts-about-capital-gains-and-losses
And to clarify, the mining fee is payment for service and not a tax. Taxes are levied by governments. Bitcoin is not a government.
In the U.S. You absolutely owe capitol gains tax on any rise in price. No question at all about it.
https://www.irs.gov/uac/ten-important-facts-about-capital-gains-and-losses
And to clarify, the mining fee is payment for service and not a tax. Taxes are levied by governments. Bitcoin is not a government.
It's embarrassing to see how many people understand nothing about taxes. How do they survive in society not understanding their taxation responsibilities and why are more of them not in prison?
Since bitcoin is an internet currency that can be turn into a actual money. And Bitcoin too is known on Government but still government can't observe bitcoin that good. So I'm thinking if Bitcoin has tax??
Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??
ya , you alright . bitcoin does not have tax ..Edit:
Now I know that bitcoin doesn't have tax but Transaction does..
Where do these Tax go?Government? And what kind of tax is it??
because bitcoin not things can see real like bussines..
Bitcoins dont have taxes. But some countries are discussing on imposing taxes on bitcoin earnings.
Governments usually dont like bitcoin development since they loose their tax revenues due to bitcoins.
Governments usually dont like bitcoin development since they loose their tax revenues due to bitcoins.
I guess this needs to be stated every page.
In the U.S. You absolutely owe capitol gains tax on any rise in price. No question at all about it.
https://www.irs.gov/uac/ten-important-facts-about-capital-gains-and-losses
And to clarify, the mining fee is payment for service and not a tax. Taxes are levied by governments. Bitcoin is not a government.
In the U.S. You absolutely owe capitol gains tax on any rise in price. No question at all about it.
https://www.irs.gov/uac/ten-important-facts-about-capital-gains-and-losses
And to clarify, the mining fee is payment for service and not a tax. Taxes are levied by governments. Bitcoin is not a government.
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