To a spanish bank to be exact. I would have asked this on the spanish section but people is not really active there. My question is simple, say for exanple you have 100 btc and you convert them ito money 20.000€ approximately, if you withdraw that to your bank you would probably have problems because its already a pretty big amount and im sure that if you do it in small amounts someone will realize after all. I could pay the taxes, yeah.. But its a really tedious thing to do specially when it comes to bitcoins and i dont really want to lose like 50% of the amount of profit im getting.
pay the taxes, don't be greedy, if you get caught later on your problems will be compounded. There are many ways to exchange. Do it through localbitcoins or find a trusted member on this forum or use a large exchange, but just pay the taxes. It really isn't that tedious and you won't have to worry about getting caught.
Its tedious because i dont really kow what taxes i have to pay or what to say exactly when they ask me where my income comes from, what do i tell them, investments, trading?
I am unfamiliar with taxes outside the U.S., but here are some guidelines...
How did you earn the money? Was it from gambling or trading? Where did you get your initial bitcoin and at what price?
Mostly from trading but also from here, the signature campaigns the giveaways sometimes, how do i justify that? My initial bitcoin? I never bought a straight up bitcoin, more like 0.3 to 0.5 at a time
if your income per year isn't too high, don't even bother with declaring taxes on it, otherwise you can just declare it under "occasional services" i don't know how it is called in the USA
So if my income is less than "x" amount i dont have to declare it? Or you say it because they wont probably notice, whats the occasional services thing?
