Topic: do you guys pay Taxes for profit? - page 14. (Read 1923 times)
For whom should I pay taxes? I buy coins in other country, sell them in another and cash I get in a third country. And all these countries are not the state where I am an resident. I am not an American. So I don’t pay any taxes for my profits.
If I can evade taxes, then I may consider tax evasion.
Because the ratio of capital tax is very big, so tax is not cost-effective.
Because the ratio of capital tax is very big, so tax is not cost-effective.
I don't think my country will collect taxes because I make money. I think it's hard to collect taxes. Because it takes a lot of work.
Hi.
i didn't traded so much of my crypto for FIAT so i didn't dealt with that question yet.
however i think it's an issue need to be dealt with.
1. do you use accounting services?
2.if so, do you keep documentation of all traded or bought coins?
3. what do you do in cases of profit from ICO's
WHAT SHOULD I DO??
I live in a country where the government is plundering its own population. I do not see any reason why I should have to pay taxes. If I earn a lot of money, then I will move to another country and pay them there. i didn't traded so much of my crypto for FIAT so i didn't dealt with that question yet.
however i think it's an issue need to be dealt with.
1. do you use accounting services?
2.if so, do you keep documentation of all traded or bought coins?
3. what do you do in cases of profit from ICO's
WHAT SHOULD I DO??
Evaluate ourselves first, If we think that we really cannot manage the financial well, it is better to hire an accountant to help manage our financial system and transaction. The accountant will also show us the ways whether we need to pay taxes or not (if we really don't know about it). So far, I don't use the accountant. I'm still available to manage my financial by myself. For, it is still in my portfolio and I do small trading. I focus on the bounty.
If you exchange currency for p2p, then there is no point in paying taxes, and if you withdraw money through banking systems, then I think you should pay taxes.
for the time being I do not pay taxes from the profit I get from crypto, because I have not withdraw all my funds in crypto (I still hodl), until I sell all my assets in crypto I will pay the taxes.
No, crypto is not legal in my country, anyone should not trade crypto. So I don't need to pay for the taxes too.
Compare to the counties which recognized it and tax it, I don't know it is good or bad.
Compare to the counties which recognized it and tax it, I don't know it is good or bad.
If we had asked me to pay taxes in the past, I would pay taxes in accordance with the laws of the country. At present, our country has not yet considered taxes on cryptocurrencies.
If in the US, you better pay taxes on profit... and profit isn't just cashing out for fiat, unfortunately. Coin for coin trades are taxable.
Of course if you are talking about minor amounts, like making $20 off of some bounty or junk coin trade, I doubt anyone would care. But if real sums of money, better to pay taxes on it.
I think some countries have been taxing taxes for cryptocurrency. well, that's pretty good. only in my country has not issued any decision about cryptocurrency. it can be said that my country is still neutral in this regard. perhaps in the near future, my country will support this development, and enact a tax for this usage. Of course if you are talking about minor amounts, like making $20 off of some bounty or junk coin trade, I doubt anyone would care. But if real sums of money, better to pay taxes on it.
If in the US, you better pay taxes on profit... and profit isn't just cashing out for fiat, unfortunately. Coin for coin trades are taxable.
Of course if you are talking about minor amounts, like making $20 off of some bounty or junk coin trade, I doubt anyone would care. But if real sums of money, better to pay taxes on it.
Of course if you are talking about minor amounts, like making $20 off of some bounty or junk coin trade, I doubt anyone would care. But if real sums of money, better to pay taxes on it.
the tax payment for cryptocurrency depends on every country you live in. if in the country you live in there are regulations that require tax payments for crypto, then we must comply with the rules that have been made. in my opinion, before you join cryptocurrency, you should find information first about the crypto rules in your country.
In my country,there are no laws for the crypto market yet, so there are no taxes that i could pay even if i wanted to do so. However, if in the future there will be a law for this , i will have no problem to pay a tax for profit if it's not more than 10-15%.
United States citizens living abroad are required to file annual U.S. income tax returns and report their worldwide income if they meet the minimum income filing requirements for their filing status and age. However, as an expatriate with a tax home in a foreign country, you may be eligible to exclude up to $102,100 of your foreign earned income from U.S. taxes for the 2017 tax year by meeting one of two tests.
yes, i have in any case before, but i have not made any profit so far. my tax advisor has advised me on what to do so that i can pay taxes.
I think no need to pay taxes for profits. I thought that taxes are for companies, employers and employees only who earns wages and salaries. In the world of crypto, you do earn only profits for your hardwork in joining bounties and buying from ICOs.
Hi.
i didn't traded so much of my crypto for FIAT so i didn't dealt with that question yet.
however i think it's an issue need to be dealt with.
1. do you use accounting services?
2.if so, do you keep documentation of all traded or bought coins?
3. what do you do in cases of profit from ICO's
WHAT SHOULD I DO??
i didn't traded so much of my crypto for FIAT so i didn't dealt with that question yet.
however i think it's an issue need to be dealt with.
1. do you use accounting services?
2.if so, do you keep documentation of all traded or bought coins?
3. what do you do in cases of profit from ICO's
WHAT SHOULD I DO??
Well, you can always do as you please to note how much profit your getting. If you want to account for your business and how much you get, then by all means. However, if you would have to put that accounting to another person and pay him to do it for you. I am not sure if that will be worth it because the amount of what you can get with your ventures, especially when you are starting may not be that much, and also, it would be better if you do it yourself because, at least, it's free and you get to learn first hand how much you earn and the adjustments you need to make for it to be bigger, in cases if it is not within your profit goal.
No, I do not use accounting services for my Crypto transaction activity, nor do I pay taxes on all the Crypto transactions I've been making. because indeed in our country there is no rule for it, so we do all this freely there is no interference from third parties.
Previously, I was not interested in this topic, and now when I want to trade legally, I have a question about taxes. However, our country has not yet come up with anything.
Nope theres no existing regulations nor restrictions in our country which makes cryptocurrencies more profitable because the government doesnt seems to be interested to the technology yet,but im sure if they have found that theres millions of dollars coming in and out without paying taxes they are going to regulate or put some taxes atleast.
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