Is it worth getting paid in Bitcoin for freelance work? - page 3.

Sangkuni

full member

Activity: 392

Merit: 114

Quote from: sqcrypto on December 16, 2017, 06:35:21 AM

I’m a web developer/designer and wondered if it’s worth getting paid in bitcoin? I’m from the UK and not sure how it would work in terms of the end of year tax return.

yes, i think its worth

...For example, if you get paid $ 500 in bitcoin, then $ 500 could be 1000 $ in the future, due to the rising bitcoin price on fiat money Cheesy

Skieleton

sr. member

Activity: 686

Merit: 282

I am a graphic artist and as for me it is a payment like any other. However, it is more convenient because we avoid taxes, and as we know it is quite uncomfortable.

JohnBitCo

sr. member

Activity: 2030

Merit: 356

Quote from: Dudeperfect on December 16, 2017, 12:00:34 PM

Well, if you are asking in terms of taxation then is most of the countries, you will be taxed only when you will cash out your funds and hence if you don't want to cash out a certain portion of your earnings then it will remain untaxable as far as you are not cashing out those funds. On the other hand, if you are earning a living from your freelancing work then you will have to pay taxes since you will be cashing our the funds in that case so considering your situation, you can decide that if it is appropriate to charge fees in BTC or not.

Well in my country, even freelancing is not taxable and traceable as most people work online and get income in dollars or skill and other online payment methods. Bitcoin has made payment through freelancing more easy and now people can easy get their reward of online work though bitcoins.

Dudeperfect

hero member

Activity: 1190

Merit: 534

Well, if you are asking in terms of taxation then is most of the countries, you will be taxed only when you will cash out your funds and hence if you don't want to cash out a certain portion of your earnings then it will remain untaxable as far as you are not cashing out those funds. On the other hand, if you are earning a living from your freelancing work then you will have to pay taxes since you will be cashing our the funds in that case so considering your situation, you can decide that if it is appropriate to charge fees in BTC or not.

AVAMONEY

full member

Activity: 406

Merit: 100

Quote from: sqcrypto on December 16, 2017, 06:35:21 AM

I’m a web developer/designer and wondered if it’s worth getting paid in bitcoin? I’m from the UK and not sure how it would work in terms of the end of year tax return.

Worth it. You're skill service are fully about website service / programs areas,
There are some web which offered work as freelancer and getting paid with virtual currencies, so far in this forum only as long as you want to learning upgrading your vision and skill, you will have many chances for getting online work and receives Bitcoin as payment method.

Svelto

sr. member

Activity: 686

Merit: 257

It is good to earn some BTC if you believe in it and want to save it for future purpose. The advantage is that BTC is a irreversible payment method, which means you client can’t reserve the payment from your completed task.

The disadvantage is that the high transaction fee to convert BTC to fiat if you need it for living expenses.

pikebu

hero member

Activity: 854

Merit: 522

Quote from: sqcrypto on December 16, 2017, 06:35:21 AM

I’m a web developer/designer and wondered if it’s worth getting paid in bitcoin? I’m from the UK and not sure how it would work in terms of the end of year tax return.

Of course yes, your service is worth paid with bitcoin because the price of bitcoin is always going up trend although you just get small amount of bitcoin but the values is always increase time by time, if you keep it for long time or at least some of bitcoin be held for long time, and about the taxes must be paid to your government you can sell some bitcoin to fiat money, i think it is good solution but i am not sure about your problem with tax return, please make it more clear. Thank you so much.

mobnepal

legendary

Activity: 1218

Merit: 1006

Quote from: sqcrypto on December 16, 2017, 06:35:21 AM

I’m a web developer/designer and wondered if it’s worth getting paid in bitcoin? I’m from the UK and not sure how it would work in terms of the end of year tax return.

You can get good payment for your web developing/designing services if you can design good website for different ICO and get into their developer team as UI developer. You can take payment in either bitcoin, eth or in form of their own token.

You can save on taxes as you can anonymously trade bitcoin with any local guy near you if you want to do so. In UK trading bitcoin is legal so you can send/receive/trade bitcoin freely.

WhichIsGood

member

Activity: 112

Merit: 10

Young, Dumb & Broke

Quote from: sqcrypto on December 16, 2017, 06:35:21 AM

I’m a web developer/designer and wondered if it’s worth getting paid in bitcoin? I’m from the UK and not sure how it would work in terms of the end of year tax return.

This is actually quite a decent way to earn. You won't have to worry about losing money(if you're afraid of a risky investment) because you are only investing your time and effort. Your only problem will be finding the legit ones that actually pays you and it will be worth it.

lestilla

newbie

Activity: 32

Merit: 0

Quote from: sqcrypto on December 16, 2017, 06:35:21 AM

I’m a web developer/designer and wondered if it’s worth getting paid in bitcoin? I’m from the UK and not sure how it would work in terms of the end of year tax return.

Yeah, it is worth it. Getting paid in bitcoin for your services is the best way you can get paid. As the price of bitcoin is ever increasing, you will make more profit as from the time you get paid in bitcoin to the time you get to sell your bitcoin.

tyuner4

full member

Activity: 322

Merit: 179

I feel it is worth getting paid in BTC for freelance work if you have another source of income in fiat. Currently it is not fast and cost saving to convert BTC to fiat for living expenses.

As for the tax portion, I can’t comment because I am not familiar with UK tax.

heroic25

member

Activity: 73

Merit: 10

I think its absolutely ok to accept bitcoin against your work but what I think the only thing to watch is bitcoin price that is volatile so you must have a close look on bitcoin price before accepting the bitcoin otherwise its fine

YR

newbie

Activity: 47

Merit: 0

BUY HOQU tokens!!!!!!!!!!!!

Dailyroberts

member

Activity: 116

Merit: 100

Quote from: sqcrypto on December 16, 2017, 06:35:21 AM

I’m a web developer/designer and wondered if it’s worth getting paid in bitcoin? I’m from the UK and not sure how it would work in terms of the end of year tax return.

Why not?

I know many friends working in this way and they earn more than they can earn from real life jobs. In UK, you need to prepare a document showing your income so that you can pay your income tax to the government, as far as I know.

rodel caling

full member

Activity: 952

Merit: 104

have advantage for you accept bitcoin as payment for your free lance job, lets say the agrement with your client paying bitcoin not converted into cash money whenever bitcoin price goes down or up, you can get huge interest sell bitcoin in the high price, if you believe in bitcoin its because bitcoin continue to uprise the price in the market. and tax return in your country i have no idea because i'm not familiar about the tax law in your country.

sofi@

full member

Activity: 238

Merit: 108

I guess doing signature campaigns is quite a freelance work to consider and it's very nice having bitcoin as our earnings each week so for me paying freelance job by means of bitcoin is really a good idea besides the value of bitcoin continue to appreciate so if we receive bitcoin as a payment we already have an investment in an instant.

Tramle091296

full member

Activity: 462

Merit: 100

yes it is worth cause the bitcoin has a high value of money. you can get a lot of money by working that you salary gives a bitcoin. and also its is worth because its is accessible for any sight you can buy and you cash out instantly no tax no hassle on going at bank.

Emoclaw

sr. member

Activity: 420

Merit: 251

It's worth it. But don't rely on it. You should accept FIAT currencies first and offer a Bitcoin option in case people want to use it.
Bitcoin is a great investment and I believe its value will go up, so its worth having some. You are liable to capital gains tax when you sell your Bitcoin for GBP.
You'll have to report your gains upon conversion to the HMRC, not sure how that works though as I'm not from the UK.
You're not liable to any taxes when you just keep your Bitcoin.

merlyn22

hero member

Activity: 644

Merit: 500

i love my family

Quote from: sqcrypto on December 16, 2017, 06:35:21 AM

I’m a web developer/designer and wondered if it’s worth getting paid in bitcoin? I’m from the UK and not sure how it would work in terms of the end of year tax return.

getting paid by bitcoins is ok because bitcoin is volatile you can save it on your wallet then wait until it reaches high price then anytime you can convert it to your fiat money. i am not familiar on uk money and how to put taxes on your country i am pilipina and goverment here still studying how to put tax on bitcoins.

ABCbits

legendary

Activity: 2870

Merit: 7490

Crypto Swap Exchange

It's worth if you believe bitcoin price will rise (or at least believe in bitcoin technology) and know the fact bitcoin price is extremely volatile (some even say it's bubble).
I don't know much about tax return in UK, but since usually the freelancer or the one who offer the job offer payment rate in fiat (and use exchange rate to determine how much you'll be paid in bitcoin), you simply can notify how much you paid in your fiat currency or when you sell your bitcoin.

Topic: Is it worth getting paid in Bitcoin for freelance work? - page 3. (Read 479 times)