The government doesn't even recognized bitcoin as a currency so I doubt that they are taxing them. And it wil be really hard to tax someone cause bitcoin is anonymous and decentralized.
But I think bitcoin is still taxable, Just look the growing community of bitcoin users and merchants. Government spotting us is just a matter of time.
Topic: Paying taxes on forum? - page 3. (Read 2745 times)
Do you think that people who offer some services here on forum and make money from it (like exchangin Bitcoin, offering lending services, web design, translations etc.) are also obliged to report that to their local authorities and pay tax?
Theres no tax to be payed by someone to the government hence all people here said the same thing too on which bitcoin is not legalized and been noticed by the government thats why they cant imposed taxes on people who do use bitcoin and thats really an advantage when you do avoid taxes especially on big amount transactions.
Do you think that people who offer some services here on forum and make money from it (like exchangin Bitcoin, offering lending services, web design, translations etc.) are also obliged to report that to their local authorities and pay tax?
actually at the current time the only income is of the publisher and of advertiser .actually the developer debloped his site and making publicity through this forum by giving a space below the new post of this forum only .
well may be another way to make some earning of this forum .
but here
https://bitcointalk.org/index.php?topic=1662893.0;topicseen
this link will explain clearly .
Do you think that people who offer some services here on forum and make money from it (like exchangin Bitcoin, offering lending services, web design, translations etc.) are also obliged to report that to their local authorities and pay tax?
actually this forum is Making money from new post in this forum .when new post is created in this forum then a site adds will show below the new topic .
and these adds giving sites paying for thier advertisement .
Do you think that people who offer some services here on forum and make money from it (like exchangin Bitcoin, offering lending services, web design, translations etc.) are also obliged to report that to their local authorities and pay tax?
i think they are paying some tax because i in my opinion the main income source is due to the income from the campaign .but may be this campaign is Making only money from advertisement at the new post .
Does they need to know about that kind of job? Is bitcoin known by your local authorities? Well if not i don't think we really need to pay taxes for our earning bitcoin on our ventures since our profit earnings here is little not where not doing some stable jobs here thats why its very bad if it really implemented by the law and might be a source of corruption money and used for some politics greediness.
If Bitcoin is not considered an official currency then I suppose it's not taxable. And it's hard to trace Bitcoin transactions in general so the taxation office might not even be aware of people moving around digital money and they might as well not be able to follow where this digital money is coming from so I guess there is no need to include any Bitcoin profits on your annual tax form.
You are right, since bitcoin is not known by the government, maybe some of its official. But there is now law that tells the taxation of bitcoin. So paying of taxes with bitcoin is not really implemented and needed. And how about it is in forum? The same thing also that when you get profit from the forum you are still no obliged to pay tax.
If Bitcoin is not considered an official currency then I suppose it's not taxable. And it's hard to trace Bitcoin transactions in general so the taxation office might not even be aware of people moving around digital money and they might as well not be able to follow where this digital money is coming from so I guess there is no need to include any Bitcoin profits on your annual tax form.
The tax laws differ from country to country, and it also depends on how they define the income. If it is seen as a commodity, then you will have to pay Capital gains on that, but if it was seen as a currency, then VAT comes into play. In any way, all business have to declare their income. If they do not declare the income and they are submitted to a audit, then they will have to explain why they avoided paying taxes.
This is the IRS view on this : " Any person who willfully attempts to evade or defeat any tax imposed by this title or the payment thereof shall, in addition to other penalties provided by law, be guilty of a felony and, upon conviction thereof: Shall be imprisoned not more than 5 years. "
I will rather pay, than go to jail over money. ^hmmmmm^
This is the IRS view on this : " Any person who willfully attempts to evade or defeat any tax imposed by this title or the payment thereof shall, in addition to other penalties provided by law, be guilty of a felony and, upon conviction thereof: Shall be imprisoned not more than 5 years. "
I will rather pay, than go to jail over money. ^hmmmmm^
This is not necessary , you have paid a tax when bitcoin transaction made, unless country who have watching bitcoin activity on their country, usually if person who have an income (for example more $500) need to make it report. bitcoin is not fully anonymous.
Do you think that people who offer some services here on forum and make money from it (like exchangin Bitcoin, offering lending services, web design, translations etc.) are also obliged to report that to their local authorities and pay tax?
I think that goes against the entirety of bitcoin's existence... Bitcoin exists because we want to avoid the government and centralized systems as much as possible... So yeah.
Do you think that people who offer some services here on forum and make money from it (like exchangin Bitcoin, offering lending services, web design, translations etc.) are also obliged to report that to their local authorities and pay tax?
No it's not. It's outside of their premises, at least. When people offers some services here in this forum, it's not necessary to report in their respective government. It's freedom.
The one that must comply with the rules and regulations about taxes or any money related terms are those local exchangers that having a business in a certain country. Since money is involved, they have to follow rules and tax are part of it.
Nope they are not paying taxes. Because it is not regulated by the government and that's why some are saying bitcoins will be banned by the government because they cannot collect taxes from it.
I think the fees we are paying is for the transaction to be confirmed and not a tax per se.
I think so since it is regulated. Only government imposed taxes and you are correct here that charges or fees we pay is for confirmation or for miners to process.Also in some countries,it is not strict or not taxable as of now if you are doing an online work like in freelancing.
I believe no tax revenue to pay with Bitcoin is not necessary. Government and so controls all aspects of people's lives. This area must remain anonymous and be free from government control
So I see that most of members think they shouldn't be taxed. I have the same opinion but I wanted to check how things are standing. In my country Bitcoin is not regulated so I suppose I don't have to report anything.
Question is: would you report your bitcoin related income if BTC was completely regulated and treated on par with your local FIAT currency? I assume not.We are not talking about million dollar transaction obviously and as Foxpup said - it will be hard to document and spent large amount of money.
We are talking about far less than $1000 per month income level - I doubt IRS will be targeting you for that.
Do you think that people who offer some services here on forum and make money from it (like exchangin Bitcoin, offering lending services, web design, translations etc.) are also obliged to report that to their local authorities and pay tax?
I think the government cannot compel us to pay the taxes, what is their focus is a legitimate business that accepts bitcoin. For example, a certain exchange sites which are making money regularly, if they are a legitimate business and they comply with the laws of the government they are required to pay the right taxes, but our fair share is by using their service they have already charge us on the exchange fees and transfer fees.If this is just referring here in forum or other forums why they need to pay taxes? Since it is all about discussions then it would be fine if that will not be charged with some taxes. So it is not applicable to a forum to be charged with tax since it is just an open source and there are countries that doesn't cover the people who are working online.
Do you think that people who offer some services here on forum and make money from it (like exchangin Bitcoin, offering lending services, web design, translations etc.) are also obliged to report that to their local authorities and pay tax?
I think the government cannot compel us to pay the taxes, what is their focus is a legitimate business that accepts bitcoin. For example, a certain exchange sites which are making money regularly, if they are a legitimate business and they comply with the laws of the government they are required to pay the right taxes, but our fair share is by using their service they have already charge us on the exchange fees and transfer fees. legendary
Activity: 3010
Merit: 1028
Leading Crypto Sports Betting & Casino Platform
Nope, because bitcoin is anonymous so nobody can know that you are doing bitcoin activity so the government can't tax you, but if you open local exchange and you used to do transaction using fiat then the government going to taxed you
definitely,unless bitcoin know who's behind the address,then you will end up getting recorded all of your transactions in the past and if there's something suspicious then government will trying to know what it is,if you ever breaking the rules and the government know,then it's the end of you,can't say bitcoin fully anonymous but if you're always changing your bitcoin address maybe it could be helpful 
So I see that most of members think they shouldn't be taxed. I have the same opinion but I wanted to check how things are standing. In my country Bitcoin is not regulated so I suppose I don't have to report anything.
Most members here are idiots posting nonsense because their signature ads are the most money they'll ever make from Bitcoin. Anyone earning significant amounts is likely to be reporting it, at least if they expect to ever spend their money. For example:Even if you earn one million dollars in one day, there'll be no tax.
What can you buy for a million dollars without the government knowing about? A new house? Real estate deals are public record. An expensive sports car? Tax investigators look at car registrations. The government's going to find out about your wealth the moment you spend it on anything substantial, and they'll want to know where that money came from and whether you've paid your taxes on it. If you haven't, you're going to have a bad time.
Nope, because bitcoin is anonymous so nobody can know that you are doing bitcoin activity so the government can't tax you, but if you open local exchange and you used to do transaction using fiat then the government going to taxed you
Jump to: