คาสิโนออนไลน์ ในรูปแบบใหม่ล่าสุดจาก ปอยเปต คาสิโน รีสอร์ท ได้ที่นี่ royal1688
Topic: Legality of Mining Bitcoins - page 2. (Read 3897 times)
I'm in Kentucky... And as far as taxes go for the state they've addressed it for business use.
http://www.taxrates.com/blog/2014/07/02/bitcoin-bluegrass-state/
However the amount of bitcoin I have (barely over $50 worth atm) has been mined. I'm not a business by any means so if I mined enough to where it was $600 worth and sold it then taxes would be applied. Correct me if I'm wrong...
And to be sure... Mining is ok until bitcoins are sold correct?
http://www.taxrates.com/blog/2014/07/02/bitcoin-bluegrass-state/
However the amount of bitcoin I have (barely over $50 worth atm) has been mined. I'm not a business by any means so if I mined enough to where it was $600 worth and sold it then taxes would be applied. Correct me if I'm wrong...
And to be sure... Mining is ok until bitcoins are sold correct?
Honestly if you sold a large amount and made a large profit see and accountant. I don't see you making this but if you did, a CPA in your area is better then any forum advice.
Holding bitcoin you really don't make a profit until you sell. At point of sale I could see both sides. I personally have kept my costs as I mine my BTC just incase of taxes one day down the road. Bitcoin is really pretty new still.
The bitcoin police will hunt you. YOU GOIN DOWN
I'm in Kentucky... And as far as taxes go for the state they've addressed it for business use.
http://www.taxrates.com/blog/2014/07/02/bitcoin-bluegrass-state/
However the amount of bitcoin I have (barely over $50 worth atm) has been mined. I'm not a business by any means so if I mined enough to where it was $600 worth and sold it then taxes would be applied. Correct me if I'm wrong...
And to be sure... Mining is ok until bitcoins are sold correct?
http://www.taxrates.com/blog/2014/07/02/bitcoin-bluegrass-state/
However the amount of bitcoin I have (barely over $50 worth atm) has been mined. I'm not a business by any means so if I mined enough to where it was $600 worth and sold it then taxes would be applied. Correct me if I'm wrong...
And to be sure... Mining is ok until bitcoins are sold correct?
I dont think mining at this point of the difficulty would be a good idea unless your doing a bitcoin farm with special deals from the bitcoin miner manufactures, you could always go around the house pick up the old stuff your not using and sell it in a yard sale, or either offer a service in a skill your good at for bitcoin.
I have a couple of questions.
Can you mine bitcoins if you are under 18 years of age?
Can you mine bitcoins if you are under 18 years of age?
ofc you can there is nothing agains it.
I am located in Wisconsin, USA. I am under 18 years of age. If I earn bitcoins, do I have to pay any sort of tax? Isn't there some sort of threshold that if I pass it, I have to pay the tax?
fiat money is control by goverment yes? so in the end you need to be under his rules, you should check if the fiat money you get after you change yout btc for fiat money excesss the limits of your country.
And, can you calculate the amount of bitcoins you will earn by your hashing rate?
I want to know this before I start mining to see if I should be mining.
I want to know this before I start mining to see if I should be mining.
imho you should not start to minning btc, the electricity cost are so high atm, dunno if this is the same case with your, but for some of us this is not profitable anymore.
I guess while on the subject... So the next time I have to go through and do taxes that lets say I sold all of my bitcoins on an exchange... Say they brought me in right at $300 for an example... Then I'd have to let them know that I made $300 USD from trading bitcoins and they'd tax that as self employment income? Just to be clear...
it depend on where you live, because in somearea in the world, there is no tax and regualtion about bitcoin, for USA IRS said that they will tax everything above 600 for btc, in the arch of one year
so if you exchange only 300 worth of bitcoin for an entire year, you're safe
I guess while on the subject... So the next time I have to go through and do taxes that lets say I sold all of my bitcoins on an exchange... Say they brought me in right at $300 for an example... Then I'd have to let them know that I made $300 USD from trading bitcoins and they'd tax that as self employment income? Just to be clear...
I have a couple of questions.
Can you mine bitcoins if you are under 18 years of age?
I am located in Wisconsin, USA. I am under 18 years of age. If I earn bitcoins, do I have to pay any sort of tax? Isn't there some sort of threshold that if I pass it, I have to pay the tax?
And, can you calculate the amount of bitcoins you will earn by your hashing rate?
I want to know this before I start mining to see if I should be mining.
There are no age restrictions to mining. Of course, being under 18, you'll face other challenges - how to pay for the mining hardware for example. I would refer you here: https://en.bitcoin.it/wiki/Tax_compliance for tax implications.Can you mine bitcoins if you are under 18 years of age?
I am located in Wisconsin, USA. I am under 18 years of age. If I earn bitcoins, do I have to pay any sort of tax? Isn't there some sort of threshold that if I pass it, I have to pay the tax?
And, can you calculate the amount of bitcoins you will earn by your hashing rate?
I want to know this before I start mining to see if I should be mining.
You can most certainly calculate your expected mining returns based upon a hash rate. Many online calculators do exactly that. For example, check out https://bitcoinwisdom.com/bitcoin/difficulty to get an idea of how much you would expect to earn with a given hash rate at the current moment. An Antminer S5 as of right now would expect to earn you 0.01176BTC a day.
Pretty sure you are 100% okay until you sell it for $$$.
you can mine regardless of your age, the only legal perimeters of mining are those for hardware and electricity. your pc wont make anything mining btc, i suggest using your pc to mine something else like and x11 coin, i sent you a pm
like and x11 coin, i sent you a pm
I have a couple of questions.
Can you mine bitcoins if you are under 18 years of age?
I am located in Wisconsin, USA. I am under 18 years of age. If I earn bitcoins, do I have to pay any sort of tax? Isn't there some sort of threshold that if I pass it, I have to pay the tax?
And, can you calculate the amount of bitcoins you will earn by your hashing rate?
I want to know this before I start mining to see if I should be mining.
Can you mine bitcoins if you are under 18 years of age?
I am located in Wisconsin, USA. I am under 18 years of age. If I earn bitcoins, do I have to pay any sort of tax? Isn't there some sort of threshold that if I pass it, I have to pay the tax?
And, can you calculate the amount of bitcoins you will earn by your hashing rate?
I want to know this before I start mining to see if I should be mining.
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