Topic: FastCash4Bitcoins Support Thread - page 24. (Read 94604 times)
Thanks for another flawless transaction T.C. !!
When you file taxes, in order to deduct the expenses of your business, do you provide the names and addresses of people receiving the money along with the amounts paid to them?
If not, wouldn't you be required to furnish that information in an audit to prevent being taxed on the full value of the BTC you sell? (i.e. it's necessary to have proof of expenses to avoid paying taxes on that portion of your revenue)
I know your site is pretty clear that people gaining revenue from you must declare their real identities, but I missed the disclaimer on your privacy policy, is that only used for official IRS audits of your business, or is it filed to gov't with your taxes?
Happy MLKJ Day Everyone, there's a guy who took on a tyrannical gov't and stood for his principles despite the odds/threats against him
If not, wouldn't you be required to furnish that information in an audit to prevent being taxed on the full value of the BTC you sell? (i.e. it's necessary to have proof of expenses to avoid paying taxes on that portion of your revenue)
I know your site is pretty clear that people gaining revenue from you must declare their real identities, but I missed the disclaimer on your privacy policy, is that only used for official IRS audits of your business, or is it filed to gov't with your taxes?
Happy MLKJ Day Everyone, there's a guy who took on a tyrannical gov't and stood for his principles despite the odds/threats against him
Nothing in that post made any sense. There isn't even a mechanism to provide the names and address of all customers to the IRS when filing taxes even if we wanted to (which we don't). Do you think Amazon.com provides the IRS with order details for tens of millions of orders each year? How exactly does 7-11 provider the names and addresses of all customers (including those paying cash)?
Tangible Cryptography LLC is a classified as a partnership for tax purposes. A form 1065 (and K-1 for each partner with an ownership interest) was filed for 2012. Please let me know where you see the line item indicating "please include name and addresses for all customers".
http://www.irs.gov/pub/irs-pdf/f1065.pdf
I would point out that not all customers provide an address. Only customers making a sale for payment by mail (check, cashier's check, or bullion) need to provide a mailing address. Customer information is used ensure we can make an accurate payments and to avoid third party payments nothing more. Next time please troll a little better.
When you file taxes, in order to deduct the expenses of your business, do you provide the names and addresses of people receiving the money along with the amounts paid to them?
If not, wouldn't you be required to furnish that information in an audit to prevent being taxed on the full value of the BTC you sell? (i.e. it's necessary to have proof of expenses to avoid paying taxes on that portion of your revenue)
I know your site is pretty clear that people gaining revenue from you must declare their real identities, but I missed the disclaimer on your privacy policy, is that only used for official IRS audits of your business, or is it filed to gov't with your taxes?
Happy MLKJ Day Everyone, there's a guy who took on a tyrannical gov't and stood for his principles despite the odds/threats against him
If not, wouldn't you be required to furnish that information in an audit to prevent being taxed on the full value of the BTC you sell? (i.e. it's necessary to have proof of expenses to avoid paying taxes on that portion of your revenue)
I know your site is pretty clear that people gaining revenue from you must declare their real identities, but I missed the disclaimer on your privacy policy, is that only used for official IRS audits of your business, or is it filed to gov't with your taxes?
Happy MLKJ Day Everyone, there's a guy who took on a tyrannical gov't and stood for his principles despite the odds/threats against him
Reminder:
Today (1/21) is a bank and postal holiday.
Add one day for postal and ACH delivery times.*
Bank wires sent today will post to your account tomorrow morning.*
Another advantage of Bitcoin. There are no blockchain holidays.
* Some banks may be open today and able to receive incoming funds but that is the exception rather than the rule.
Today (1/21) is a bank and postal holiday.
Add one day for postal and ACH delivery times.*
Bank wires sent today will post to your account tomorrow morning.*
Another advantage of Bitcoin. There are no blockchain holidays.
* Some banks may be open today and able to receive incoming funds but that is the exception rather than the rule.
Update:
More bank funds added.
More bank funds added.
@TangibleCryptography:
Will you offer your services to Canadian clients any time in the near future?
Will you offer your services to Canadian clients any time in the near future?
We may open PayPal to international users in the near future and probably add international wires within the next couple months. Low cost bank transfer in Canada would require a Canadian bank account so although that is something we have considered we have no definitive plan to add that option.
@TangibleCryptography:
Will you offer your services to Canadian clients any time in the near future?
Will you offer your services to Canadian clients any time in the near future?
For everyone that has used this service, which type of payout method do you prefer? I won't be a huge bitcoin seller, but a small one so I'm thinking bank account transfer. I do like Paypal but once it gets into the Paypal account Paypal tacks on their fees also. I refuse to add a bank account to Paypal. I have an account at Dwolla, with my bank account verified. I wonder if Dwolla charges any fees to go from my Dwolla account to my bank account. Have to keep an eye out, cause there are fees in every step of the game.
Thanks Tangible.
Thanks Tangible.
We pay all PayPal fees. What you will get in your account is what we indicate on the sale page (down to the penny). Dwolla charges $0.25 to receive a payment but there is no fee for transfers either to or from your bank account.
For everyone that has used this service, which type of payout method do you prefer? I won't be a huge bitcoin seller, but a small one so I'm thinking bank account transfer. I do like Paypal but once it gets into the Paypal account Paypal tacks on their fees also. I refuse to add a bank account to Paypal. I have an account at Dwolla, with my bank account verified. I wonder if Dwolla charges any fees to go from my Dwolla account to my bank account. Have to keep an eye out, cause there are fees in every step of the game.
Thanks Tangible.
Thanks Tangible.
Update:
More bank funds available.
More PayPal available.
Dwolla being stubbornly slow. Should be reloaded by this evening.
More bank funds available.
More PayPal available.
Dwolla being stubbornly slow. Should be reloaded by this evening.
Well that sucks.
Bank Of America has decided to close our accounts for "unnamed reasons" in thirty days.
Sigh. The cartel isn't going to let Bitcoin be easily usable.Fuck BofA and the narco-terrorist cartel money laundering horse they rode in on. The blood of the people killed in the War on Drugs is on their hands.
The world will be a better place when the BofA shylocks are dead and buried like Heriberto Lazcano.
Besides, Bitcoin interprets coercion as damage and routes around it.
Important Update:
Bank Of America has decided to close our accounts for "unnamed reasons" in thirty days.
Sigh. The cartel isn't going to let Bitcoin be easily usable. Bank Of America has decided to close our accounts for "unnamed reasons" in thirty days.
Important Update:
Bank Of America has decided to close our accounts for "unnamed reasons" in thirty days. This should have minimal impact on our clients but there are some important changes which will be occurring as a result of this closure.
Important note regarding existing company checks. Bank Of America will reject any check issued from our account which is presented for payment (either directly, or indirectly through your depositing bank) after 1/28. We are no longer issuing checks from this account but based on past records some clients have taken up to three weeks to cash issued checks. First we would like to assure our clients that you won't lose funds. If you receive your payment check prior to 1/21 the easiest option is to simply present it for payment. If you receive a check late or fail to deposit a check please notify us, once we issue a stop payment on the check we can issue a new payment (by check or other method). There will be no charge for replacement payments. In the very unlikely event that due to delays by your depositing bank a check is returned unpaid we will pay any fees or penalties plus $50.00.
We value the business given to us by our clients and will continue to seek alternatives that meet the high standards of FastCash4Bitcoins.
Thank You
Staff
Tangible Cryptography LLC
Bank Of America has decided to close our accounts for "unnamed reasons" in thirty days. This should have minimal impact on our clients but there are some important changes which will be occurring as a result of this closure.
- Most importantly there is no freeze of funds or accounts. We still have full access to our accounts and funds. We keep reserves in multiple banks and we were able to make a significant wire transfer out of Bank Of America to our other accounts to boost our available funds. FastCash4Bitcoins will not be closing and we have funds available to purchase your coins right now.
- ACH (normal) and Bank Wire payouts are unaffected. We have already transitioned these to another provider for unrelated reasons. Likewise PayPal & Dwolla are unaffected. We have multiple funding accounts for these services. Obviously there will be no change to Bullion shipments.
- Overnight ACH (not to be confused with normal ACH) will be discontinued. The last day to request payout by Overnight ACH will be 1/17. After 6PM EST on 1/17 the overnight ACH option will be removed from the sell page. At this time Bank Of America was our only provider of Overnight ACH services. None of our other banking partners currently offer this service and we are unsure if we will be able to offer it in the future.
- Company checks will now be drawn from our PNC Corporate account. Unrelated to this change we are upgrading our checks to high security checks (similar to those used by payroll departments). This should improve first time acceptance rate by third party banks and reduce bank hold times.
- Cashier's Checks will be discontinued on 1/25. We had a special arrangement with Bank Of America that made the issuance of Cashier's Checks economical. We don't have an immediate alternative available. We are looking into the capability of issuing money order checks by a "branded" money order provider as an alternative but that won't be available immediately.
Important note regarding existing company checks. Bank Of America will reject any check issued from our account which is presented for payment (either directly, or indirectly through your depositing bank) after 1/28. We are no longer issuing checks from this account but based on past records some clients have taken up to three weeks to cash issued checks. First we would like to assure our clients that you won't lose funds. If you receive your payment check prior to 1/21 the easiest option is to simply present it for payment. If you receive a check late or fail to deposit a check please notify us, once we issue a stop payment on the check we can issue a new payment (by check or other method). There will be no charge for replacement payments. In the very unlikely event that due to delays by your depositing bank a check is returned unpaid we will pay any fees or penalties plus $50.00.
We value the business given to us by our clients and will continue to seek alternatives that meet the high standards of FastCash4Bitcoins.
Thank You
Staff
Tangible Cryptography LLC
Update:
Dwolla funds exhausted until next week (11/16).
PayPal & Bank funds reloaded.
Dwolla funds exhausted until next week (11/16).
PayPal & Bank funds reloaded.
Update:
Additional PayPal & Dwolla funds added.
Additional PayPal & Dwolla funds added.
Update: More bank funds are available.
I have a question, I created an order for an ACH transfer and the order has been confirmed, is there any way I can track the status of the ACH transfer or should I just wait 3-5 business days. Thanks
The status will update to "PAID" once it has been transfered. After it is submitted to the banking network there is no mechanism for tracking its progress. Sadly no blockchain for ACH exists yet.
Our ACH batch usually goes out around 6PM EST. Don't worry it doesn't cause a delay. ACH is a batch technology so each branch takes all the ACH for the day and combines them. Nothing gets transferred between banks until the close of business anyways.
I have a question, I created an order for an ACH transfer and the order has been confirmed, is there any way I can track the status of the ACH transfer or should I just wait 3-5 business days. Thanks
Update: Funding cap reset. We still have more funds.
Jump to: