This is something my 'friend' said to me when discussing bitcoins, how do i(you) respond?
What made you decide to them you wouldn't be reporting your capital gains?
Topic: Enjoy getting raided by the IRS for not reporting income and capital gains. - page 5. (Read 6814 times)
April 04, 2013, 07:06:08 PM
April 04, 2013, 07:04:51 PM
This is something my 'friend' said to me when discussing bitcoins, how do i(you) respond?
What made you decide to them you wouldn't be reporting your capital gains? hero member
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April 04, 2013, 07:01:17 PM
Capital gains only apply when you *sell* bitcoins. Tell your friend that you're planning on spending them, and that there isn't an IRS dedicated to Bitcoins yet because we pay a network tax instead and don't have a seastead to start our libertarian government up proper.
April 04, 2013, 07:01:06 PM
I believe I can speak for all Bitcoin users in saying that we will abide by all government rules and regulations and will be paying all of our highly justifiable taxes to the kings of our era who so mercilessly allow us to bath in the glory of their great countries.
Seconded. We are the most fortunate people in history to live with such a sensible and necessary government and its tax code and I hope every Bitcoin user gives them every cent they deserve.
Or give them even more than they deserve.
April 04, 2013, 06:59:10 PM
What is this IRS you speak of? Only place around here with a name like that sells tyres and spark plugs.
It's basically a government-sanctioned mafia.
April 04, 2013, 06:58:06 PM
I think right now capital gains is only 20%
Tell them..
Who cares? I'll pay it.
Every $100 profit, you pay $20..
Who cares? Pay it.
Write off your electric, internet, home office space (rent), computers, websites etc.
Tell them..
Who cares? I'll pay it.
Every $100 profit, you pay $20..
Who cares? Pay it.
Write off your electric, internet, home office space (rent), computers, websites etc.
that is long term cap gains (position held over 12 months). less than that is full income tax. And it is not 20%. It is 20% plus 3.8% for the obamacare surtax. But if you make less than a certain amount it will be LOWER.
April 04, 2013, 06:55:05 PM
I believe I can speak for all Bitcoin users in saying that we will abide by all government rules and regulations and will be paying all of our highly justifiable taxes to the kings of our era who so mercilessly allow us to bath in the glory of their great countries.
Seconded. We are the most fortunate people in history to live with such a sensible and necessary government and its tax code and I hope every Bitcoin user gives them every cent they deserve.
April 04, 2013, 06:54:57 PM
Large miners should be treating their operations as a business and taking the appropriate deductions - there are many. Otherwise look into treating it as a hobby. If you are just speculating, you are probably paying the full capital gains, but only on realized $ gains. You aren't taxed if your google stock skyrockets until you cash it out, BTC should be no different.
April 04, 2013, 06:54:07 PM
If I have no choice but to pay taxes I'll gladly pay Bitcoins to a government department of my choosing that I actually believe in, so no military funding for youuuu! 
April 04, 2013, 06:50:41 PM
I believe I can speak for all Bitcoin users in saying that we will abide by all government rules and regulations and will be paying all of our highly justifiable taxes to the kings of our era who so mercilessly allow us to bath in the glory of their great countries.
Any IRS hero who happens to be reading this need not worry one bit about our loyalty to dutifully pleasure them with our money in our desire to reward their greatness.
I believe that should clear it all up.
Any IRS hero who happens to be reading this need not worry one bit about our loyalty to dutifully pleasure them with our money in our desire to reward their greatness.
I believe that should clear it all up.
April 04, 2013, 06:40:24 PM
I think right now capital gains is only 20%
Tell them..
Who cares? I'll pay it.
Every $100 profit, you pay $20..
Who cares? Pay it.
Write off your electric, internet, home office space (rent), computers, websites etc.
Tell them..
Who cares? I'll pay it.
Every $100 profit, you pay $20..
Who cares? Pay it.
Write off your electric, internet, home office space (rent), computers, websites etc.
April 04, 2013, 06:37:41 PM
This is something my 'friend' said to me when discussing bitcoins, how do i(you) respond?
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