your friend is a pro.
pro must sell service with tax (VAT).
if you receive/emit BTC or cash or CreditCard or Paypal ... you have a balance at the end of the year.
BTC is only a method of payment.
that's why germany accept this currently because, the tax always are always applied by the pro to sell/buy material or service.
Topic: Getting tax deductions for things paid with Bitcoin (Read 511 times)
Buying Bitcoin with cash is not deductible --- however if you use that a Bitcoin to buy something business related, like computers, that should be deductible.
I'm helping an accounting friend understand BTC so he can offer services related to this to people who need to declare BTC gains and losses or those who want to made deductions.
Can you please give any input about anything useful in this area, what kind of services you wish you had for taxes etc?
I'm helping an accounting friend understand BTC so he can offer services related to this to people who need to declare BTC gains and losses or those who want to made deductions.
Can you please give any input about anything useful in this area, what kind of services you wish you had for taxes etc?
Jump to: