How do I avoid tax on crypto - page 3.

maydna

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Quote from: nethan1btc on April 30, 2018, 10:33:44 PM

Quote from: onebtcforlife on April 30, 2018, 05:52:26 AM

Quote from: Sithara007 on April 08, 2018, 09:19:15 PM

Quote from: Franke666 on January 25, 2018, 10:03:48 AM

If I make money on crypto currencies. How do I avoid as much tax as possible?

If you want to avoid paying taxes on crypto, then there are both legal and illegal methods to do that. If you want to go the legal way, then I'd ask you to hire a good tax consultant. If you want to take the illegal way, then you can do that through pre-paid debit cards or cash on mail.

Instead of avoiding the taxes better pay the amounts which you got the profit because in future you might face legal issues with the government. Many people are doing such things because they don't want to pay the taxes but you pay taxes on time through cryptos you won't face any problems.

Actually, it depends on each countries as it will be implemented or not. Basically our government will able to support the crypto currency or not as it will be legalized on the particular country that we have. Here in my place our government supports crypto currency as we are able to provide a government issue ID just be recognized by our government and will able to do such different transaction by using a bitcoin.

I agree with nethan1btc, and I think how the government knows that their citizen using crypto or not unless they monitor all of their citizen's bank account and ask privately for each people to know more from where their income source.

in my country, we don't have to send any document to explain that we are crypto user and we can withdraw our bitcoin to fiat and send it to the bank account. but so far, me and my friends, using the third party to send the money to our bank account.

cetald

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One way to avoid tax is to exchange cryptocurrencies bypassing banks. That is, between people.

nethan1btc

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Quote from: onebtcforlife on April 30, 2018, 05:52:26 AM

Quote from: Sithara007 on April 08, 2018, 09:19:15 PM

Quote from: Franke666 on January 25, 2018, 10:03:48 AM

If I make money on crypto currencies. How do I avoid as much tax as possible?

If you want to avoid paying taxes on crypto, then there are both legal and illegal methods to do that. If you want to go the legal way, then I'd ask you to hire a good tax consultant. If you want to take the illegal way, then you can do that through pre-paid debit cards or cash on mail.

Instead of avoiding the taxes better pay the amounts which you got the profit because in future you might face legal issues with the government. Many people are doing such things because they don't want to pay the taxes but you pay taxes on time through cryptos you won't face any problems.

Actually, it depends on each countries as it will be implemented or not. Basically our government will able to support the crypto currency or not as it will be legalized on the particular country that we have. Here in my place our government supports crypto currency as we are able to provide a government issue ID just be recognized by our government and will able to do such different transaction by using a bitcoin.

onebtcforlife

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Quote from: Sithara007 on April 08, 2018, 09:19:15 PM

Quote from: Franke666 on January 25, 2018, 10:03:48 AM

If I make money on crypto currencies. How do I avoid as much tax as possible?

If you want to avoid paying taxes on crypto, then there are both legal and illegal methods to do that. If you want to go the legal way, then I'd ask you to hire a good tax consultant. If you want to take the illegal way, then you can do that through pre-paid debit cards or cash on mail.

Instead of avoiding the taxes better pay the amounts which you got the profit because in future you might face legal issues with the government. Many people are doing such things because they don't want to pay the taxes but you pay taxes on time through cryptos you won't face any problems.

Flor1982

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Quote from: Franke666 on January 25, 2018, 10:03:48 AM

If I make money on crypto currencies. How do I avoid as much tax as possible?

You can avoid the tax for the meantime if the Crypto currencies is not declare legal but not ban in your country like here in my countries in which we enjoy this benefits and as we don't waste time because sooner or later our Central banks is now looking for the possibilities of regulation that it will make the earning thru Bitcoin will be subject to taxation.

jembaba1

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I think it all depends on what country you live in and how you set up your tax affairs in general, remember tax avoidance is legal, tax evasion is illegal. So plan carefully and seek professional advice.

zarados

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in fact, you cannot avoid it unless you sell it to people to people directly without any middlemen. exchange charge at least 1%. not to mention if your country of residence taxes for income from cryptocurrency. Think about it, is there any other way that I mentioned? Well the lowest cost you get is just a trx fee from wallet to wallet.

paresh nakar

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tax is compulsory but you have to do less tax so government dont know about they dont do tax.

hen cet

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Quote from: ranman09 on December 22, 2018, 09:16:52 PM

Embrace taxes. Tax is part of our everyday lives for as we live in a community that needs it. It funds almost everything you see on the streets. But sure, there is a way to minimize tax but to actually waive it!

Using crypto money in order to avoid taxes is the thought of many people, because they assume taxes have taken away from their profits.
Though for the progress of a country must have income, one of them from taxes, so that avoiding taxes in my opinion is not wise. But transactions using crypto money while still in cyberspace are not taxed, because they are not monitored by the government.

imstillthebest

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Quote from: zee11225 on March 19, 2019, 11:51:56 PM

Tax is a need that must be obtained from a transaction carried out in a country.

Yeah sure tax is needed and important because is the only way to improve the state of the country.

Quote from: zee11225 on March 19, 2019, 11:51:56 PM

Therefore, transactions using bitcoin must also be taxed. But the problem is that all transactions occur in cyberspace, so the government cannot control it.

Transaction of bitcoins does not occur in a cyberspace but they only occur online under the blockchain system/technology . you can still pay your own tax if your government cant tax you because they cant hold bitcoin .

Quote from: zee11225 on March 19, 2019, 11:51:56 PM

Therefore, the government must be aware of the final transaction, namely withdrawal of cash money on the exchange of bitcoin because that is the only chance the government can withdraw taxes.

Some exchange are centralized , i think governments can carry out a tax on them . there are also local exchange available for crypto to fiat withdrawals , this might also be possible for governments to charge them/us by a tax .

zee11225

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Quote from: ethereumhunter on January 25, 2019, 07:18:54 AM

Maybe in one day when all country uses crypto, we will see a tax for every crypto user, and we should pay the tax in the exchanges and for sending the money from bitcoin into our bank account. But now, I don't have to pay the tax for convert my bitcoin into local fiat because when I got a fiat and sent to my bank account, I use a third party and I only pay his services because he helps me to send the money into my bank account.

Tax is a need that must be obtained from a transaction carried out in a country. Therefore, transactions using bitcoin must also be taxed. But the problem is that all transactions occur in cyberspace, so the government cannot control it.
Therefore, the government must be aware of the final transaction, namely withdrawal of cash money on the exchange of bitcoin because that is the only chance the government can withdraw taxes.

BLAST2MARS

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Quote from: Franke666 on January 25, 2018, 10:03:48 AM

If I make money on crypto currencies. How do I avoid as much tax as possible?

If your government says that you need to pay taxes on your cryptocurrency profits then you need to do it. You are going to be in conflict with the law one day I tell you that. Just look at the past scammy ICOs that is now getting summoned or subpoena by the SEC. Your transactions on the blockchain is going to be the strong evidence so think again.

ethereumhunter

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Maybe in one day when all country uses crypto, we will see a tax for every crypto user, and we should pay the tax in the exchanges and for sending the money from bitcoin into our bank account. But now, I don't have to pay the tax for convert my bitcoin into local fiat because when I got a fiat and sent to my bank account, I use a third party and I only pay his services because he helps me to send the money into my bank account.

jhon15

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Quote from: Johnzky on January 20, 2019, 08:52:08 AM

Quote from: Franke666 on January 25, 2018, 10:03:48 AM

If I make money on crypto currencies. How do I avoid as much tax as possible?

You’re gaining money and wanted to avoid paying taxes?you are a greed person mate and thats not a good attitude,remember that paying taxes is an obligation and regulated

And besides gaining in crypto is too easy than working hard in jobs,so why paying tax in regular job and not in this area of profiteering?please stop acting like tax evaders because that’s punishable by laws

if you produce why you avoid taxes generated from Crypto and you only pay partially, not all of your money lost to pay. working on Crypto is easier than real work, yes indeed because working on Crypto can be done anywhere and anytime that allows us to share time for other jobs, and your chances will be greater.

Johnzky

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Quote from: Franke666 on January 25, 2018, 10:03:48 AM

If I make money on crypto currencies. How do I avoid as much tax as possible?

You’re gaining money and wanted to avoid paying taxes?you are a greed person mate and thats not a good attitude,remember that paying taxes is an obligation and regulated

And besides gaining in crypto is too easy than working hard in jobs,so why paying tax in regular job and not in this area of profiteering?please stop acting like tax evaders because that’s punishable by laws

Siren

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Quote from: Franke666 on January 25, 2018, 10:03:48 AM

If I make money on crypto currencies. How do I avoid as much tax as possible?

The very best way to save money from taxes in crypto?live in areas whereas theres no regulation in taxing the coins,and preferably you can find this in some asian countries where the governments are neutral on crypto and may not putting tax

imstillthebest

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Quote from: Warkiller on January 17, 2019, 10:32:15 PM

taxing trading is good. reduces the amount of speculative trading, and pump and dump tactics by whales that shold be ilegal

Quote

taxing trading is good.

no its not . we are already been charge by a high transaction fees and other servicing fee from trading platforms .

Quote

reduces the amount of speculative trading, and pump and dump tactics by whales that shold be ilegal

thats not illegal because that all are normal not only in crypto but also on any other business as well . those acts are the ones that gives us an oppurtunity to buy low and sell high because they help the price to become more unstable .

ranman09

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Embrace taxes. Tax is part of our everyday lives for as we live in a community that needs it. It funds almost everything you see on the streets. But sure, there is a way to minimize tax but to actually waive it!

Cryptoverlord

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You could move to Puerto Rico hehe

aryatrals

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Quote from: Carlsen on January 25, 2018, 10:58:30 AM

The most important thing about crypto currencies what we can all do is to keep it legal.
There is already enough bad publicity in the media, I don't think the average user should start doing things on the boarder of legality with it.

The way how bitcoins are taxed differ in many countries. If it's not really clear, ask a local tax consultant.

we should use bitcoin for something that is good and does not violate the law, so this makes bitcoin more known, because with a good image all the facilities of bitcoin can be utilized by all levels of society, about bitcoin tax will not be a significant problem, because all products in this world will definitely be taxed, this is what makes the product legal, the tax applied I think is comparable to the benefits we can get.

Topic: How do I avoid tax on crypto - page 3. (Read 18699 times)