Forum finances - page 3. | Bitcointalksearch.org

dankkk

sr. member

Activity: 308

Merit: 250

Quote from: dogie on September 13, 2014, 04:28:00 PM

Quote from: dankkk on September 13, 2014, 02:35:41 PM

@theymos - are you still considering to offer accounts to have some kind of "donator" status for lessor bitcoin donation amounts (regardless if the title given will be "donator" or something else)?

It was discussed in another thread. Atm no, maybe in the future he will do something that will preserve the status of the original VIPs but will provide functionality along those lines.

I have seen quotes from theymos going both ways on this, but I am not sure what is the more recent/accurate.

What I am the most interested in is being able to access the sections reserved for donators and being able to change my username/custom title

dogie

legendary

Activity: 1666

Merit: 1185

dogiecoin.com

Quote from: dankkk on September 13, 2014, 02:35:41 PM

@theymos - are you still considering to offer accounts to have some kind of "donator" status for lessor bitcoin donation amounts (regardless if the title given will be "donator" or something else)?

It was discussed in another thread. Atm no, maybe in the future he will do something that will preserve the status of the original VIPs but will provide functionality along those lines.

dankkk

sr. member

Activity: 308

Merit: 250

Quote from: hilariousandco on September 12, 2014, 10:38:58 PM

We're no donations at all received this year or is that just nobody donated enough to become a VIP/Donator.

2013 donations were ~42k USD and 2014 figures have not been disclosed.

Looking at the official donation address of 17RTTUAiiPqUTKtEggJPec8RxLMi2n9EZ9 (per https://bitcointalk.org/donate.html) it looks like ~$1,100 has been donated so far this year. This is taking the fiat value of the bitcoin deposited to the address while only counting amounts under $1,000 (the larger amounts are likely from ad revenue) and calculating round numbers in my head.

@theymos - are you still considering to offer accounts to have some kind of "donator" status for lessor bitcoin donation amounts (regardless if the title given will be "donator" or something else)?

DiamondCardz

legendary

Activity: 1134

Merit: 1118

Quote from: theymos on September 12, 2014, 09:00:14 PM

Also, 250 BTC was probably lost when treasurer paraipan died, unfortunately. Recovering that BTC is maybe still possible, but it's probably unlikely.

It's a touchy topic but I think this should be taken a bit more seriously...250 BTC is a lot of money. Some thought should go into figuring out ways to try and recover it, e.g. contacting people who may be able to offer any help.

hilariousandco

global moderator

Activity: 3990

Merit: 2713

Join the world-leading crypto sportsbook NOW!

Were no donations at all received this year or is that just nobody donated enough to become a VIP/Donator?

Quote from: williamj2543 on September 12, 2014, 09:16:34 PM

Quote from: Cøbra on September 12, 2014, 09:14:01 PM

Has anything been done to make sure that in the event of another treasurer's death, their BTC also won't be lost?

multi sig wallet codes? Ones that start with 3? I think they require a certain amount of OKs from different users, allowing for one user to say no, or be dead

That would be the best way to go if he wanted others to hold onto these amounts of money.

Kluge

donator

Activity: 1218

Merit: 1015

Quote from: Brewins on September 12, 2014, 09:52:28 PM

Quote from: Kluge on September 12, 2014, 09:26:23 PM

Theymos, how do you handle paying non-US mods? From my weak understanding, it's a super-gray area to hire non-VISA/GC non-nationals to work remotely, even for contract work. Do you send US mods IRS income forms? Is it a MISC form??

(the forum gives out grants, now???)

(Paraipan died...? Sad

)

Mods are not hired employers. And they don't receive much. I think it is closer to a tip than a wage.

For legal purposes, I guess it is up to the mods deal with the taxes whatever way their jurisdiction requires.

In US, company is required to send tax forms confirming earnings, even for contractors. AFAIK, companies can't give "tips" - they have to be set in contracts (no clue on ad hoc bonuses). I shouldn't have used "hired"... "contracted." US foreign labor laws are really goofy when I checked... was trying to see if LTB transcription project could properly report taxes with contract workers and whether or not it was even legal to hire them -- informal conversation with immigration lawyer suggested laws on contracting out to non-US citizens without green card could be interpreted either as legal or illegal.

Brewins

legendary

Activity: 1120

Merit: 1000

Quote from: Kluge on September 12, 2014, 09:26:23 PM

Theymos, how do you handle paying non-US mods? From my weak understanding, it's a super-gray area to hire non-VISA/GC non-nationals to work remotely, even for contract work. Do you send US mods IRS income forms? Is it a MISC form??

(the forum gives out grants, now???)

(Paraipan died...? Sad

)

Mods are not hired employers. And they don't receive much. I think it is closer to a tip than a wage.

For legal purposes, I guess it is up to the mods deal with the taxes whatever way their jurisdiction requires.

dogie

legendary

Activity: 1666

Merit: 1185

dogiecoin.com

Am I right in thinking that there is always a substantial set of 'profits' that are always pending and not yet realised due to your approach? Ie if you were forced to immediately wind up the forum as a company, you'd be forced to declare another substantial chunk even without any further trading?

spidergoat

member

Activity: 103

Merit: 10

I don't understand about this bitcoin tax. The Forum is based on USA? If it is based outside USA do the Forum needs to pay taxes?

Kluge

donator

Activity: 1218

Merit: 1015

Theymos, how do you handle paying non-US mods? From my weak understanding, it's a super-gray area to hire non-VISA/GC non-nationals to work remotely, even for contract work. Do you send US mods IRS income forms? Is it a MISC form??

(the forum gives out grants, now???)

(Paraipan died...? Sad

)

williamj2543

hero member

Activity: 588

Merit: 500

Get ready for PrimeDice Sig Campaign!

Quote from: Cøbra on September 12, 2014, 09:14:01 PM

Has anything been done to make sure that in the event of another treasurer's death, their BTC also won't be lost?

multi sig wallet codes? Ones that start with 3? I think they require a certain amount of OKs from different users, allowing for one user to say no, or be dead

williamj2543

hero member

Activity: 588

Merit: 500

Get ready for PrimeDice Sig Campaign!

Taxes and bitcoin, what is this sorcery

Cøbra

full member

Activity: 123

Merit: 474

Has anything been done to make sure that in the event of another treasurer's death, their BTC also won't be lost?

theymos

administrator

Activity: 5222

Merit: 13032

BTW, if you are unfamiliar with how tax works with Bitcoin, you'll probably be really confused at how the forum experienced a net loss in 2013 but still paid a lot of tax. That happens because every expense "triggers" substantial capital gains, and therefore capital gains tax. The forum essentially pays a variable-rate tax on all expenses.

If you're interested: I used the LIFO method for calculating capital gains. My idea is to "save up" BTC batches until they become long-term, which has a lower tax rate. My understanding is that you can use any capital gains calculation method, though. (This is not tax advice -- consult a CPA.)

theymos

administrator

Activity: 5222

Merit: 13032

I finally got the forum's 2013 taxes finished (after an extension).

Here's the final accounting summary for 2011-2013. All values are USD at transaction time because this makes the numbers more easy to understand, though the forum only holds BTC.

Code:

Income
      Donations     Ads
2011       3081    1545
2012      13291   21014
2013      42174  243233

Expenses
      Infrastructure  Development   Mods  Grants    Tax
2011             213            0      0       0    109
2012              11          276      0       0   3973
2013             194       185751  81027    2802  15841

Here are the totals for 2014 up to now. These numbers are in BTC.
- Income: 522
- Expenses: 1505 (1257 Slickage, the rest mostly mods)

Also, 250 BTC was probably lost when treasurer paraipan died, unfortunately. Recovering that BTC is maybe still possible, but it's probably unlikely.

The forum currently has about 5568 BTC in reserve.

Topic: Forum finances - page 3. (Read 5127 times)