Topic: Paying taxes on forum? - page 4. (Read 2713 times)
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.
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?
Not at all, bitcoin is an anonymous coin and as the users of this forum, no one would know who is the user and where he lives just by looking at the username, though IP tracking can be done if someone gets it which is just known by the forum owners or moderators i guess, so whatever you earn on this forum or anywhere on internet which is in bitcoin, you wont be spotted unless you declare it yourself, and if you are unknown then you dont need to pay any taxes.
For now, it ain't taxable since it is just a small online internet job. Although it is not directly being taxed, government takes tax in what we buy using it so basically, user's ain't obliged to be taxed on forums but the government gain tax from it when the user buys using the fiat obtained from online forums such as this. Also, there are some instances that conversion of fiat have a tax since there is a fee for sending your fiat to you and that charge have tax.
I can't understand why some people are so eager to be exploited so much. Hypothetically if bitcoin was fully regulated and accepted as currency on par with Dollar/Euro/etc.
Do you honestly want to pay more taxes and inform your local IRS about your additional online small job? Maybe you would like to put a tax on drinks sold on lemonade stands too?
Do you honestly want to pay more taxes and inform your local IRS about your additional online small job? Maybe you would like to put a tax on drinks sold on lemonade stands too?
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?
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.
No. Bitcoin is just a cryptocurrency and the government has not much control over it compared to currencies such as USD. And I highly doubt people are earning crazy amounts here so declaring it would be really insignificant.
I think in some countries like America it technically should be reported if you make more than $600 in a year from an employer or if you sell something in the internet. But I doubt they are looking for people that are making small 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?
Bitcoin is money, so in that regard it's not really different from you doing work for someone in return for just fiat. If you take that in mind, then you (officially) must declare everything and pay tax over your earnings. But of course it's something that nearly nobody is doing and will do (which I fully understand). If I take myself as an example, then I don't declare any of my Bitcoin holdings, profits I made with trading, etc. Why? Because it's my fucking money. Governments need to back off. I pay enough tax over my normal fiat holdings and over my normal job salary already.
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?
Not a chance in hell. If you make, what, 1btc a year on the forum are you going to claim that? Why would you? It'll just be a red flag for you.
The government would be all like
"Omg he uses the bitcoin. He must be into hard drugs and selling guns to children."
Then life in prison happens.
So no, I wouldn't claim it
That's a bit too exagerated I think
! But yes, that might bring suspicions to you and then you're good for being monitored by secret services.This is literally the least exaggerated thing in the entire universe!/s.
No but seriously people in their 'normal' little bubbles think bitcoins are for criminals. That's what TV has taught them anyways.
I don't think that we need to give any proofs or any tax to any government unless we remain anonymous and are interested in having our earnings remain in Bitcoins only.
But when we convert them, problems might arise when funds will be coming in Bank, else cash is a better option here.
But when we convert them, problems might arise when funds will be coming in Bank, else cash is a better option here.
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?
There are a ton of people that offer and provide services for others, just go and look at the marketplace under "services" and you'll see how many people are offering one thing or another. As for taxes, that's a grey area. Some countries tax Bitcoin, others do not. Depends on the country of residence to be honest. 
If you are eager to get robbed by the governments, go for it and report yourself. They will be very happy for the free money you offer.
Bitcoin has opened a new door. It is continuing from where mp3, napster and bittorrent left us. After bitcoin, we will see a free country without a government. I don't how it will happen but i feel like we are getting close.
Also, it is not clear that bitcoin is to be considered as a currency or a commodity for many countries. If your country accepts bitcoin as a commodity you don't have to do anything. You don't pay income taxes for trading your car with another right?
Bitcoin has opened a new door. It is continuing from where mp3, napster and bittorrent left us. After bitcoin, we will see a free country without a government. I don't how it will happen but i feel like we are getting close.
Also, it is not clear that bitcoin is to be considered as a currency or a commodity for many countries. If your country accepts bitcoin as a commodity you don't have to do anything. You don't pay income taxes for trading your car with another right?
There is no taxes here what ever you services you do.. the only fee that you need to paid is transactions..
And for lending or exchange it depends in their offer how much you will repay with interest that can attract lender to trak you...
And for lending or exchange it depends in their offer how much you will repay with interest that can attract lender to trak you...
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 there is no any such requirement as well as in this forum you can remain anonymous if you like and do deals using escrow in middle and nobody gonna ask for your real identity so you can sell anything and keep all bitcoin with you, those tax sucking government don't gonna get any clue regarding the source of bitcoin you have. Anonymity is the most attractive feature of bitcoin so no need to worry about tax in any bitcoin related transactions.
No, why would you declare something that the most countries doesnt have opinion or are against it, makes no sense you report those earnings you making into bitcoin, soo if loose you will report at well? No the answer is no there is nothing to force anybody to make such thing.
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, there is no obligation for a freelancer to report his income to the government unless the company or the person he has offered him the service is going to be the one to volunteer that will pay his tax. But as usual, taxes are crap and that is why we are here in bitcoin. Because most of us wants to get away from those crazy tax.
That depends on where you live. In some countries, when you earn more than a certain amount a year on the internet, no matter the way, you are obligated to declare it.
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?
Not a chance in hell. If you make, what, 1btc a year on the forum are you going to claim that? Why would you? It'll just be a red flag for you.
The government would be all like
"Omg he uses the bitcoin. He must be into hard drugs and selling guns to children."
Then life in prison happens.
So no, I wouldn't claim it
That's a bit too exagerated I think
! But yes, that might bring suspicions to you and then you're good for being monitored by secret services. 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?
Not a chance in hell. If you make, what, 1btc a year on the forum are you going to claim that? Why would you? It'll just be a red flag for you.
The government would be all like
"Omg he uses the bitcoin. He must be into hard drugs and selling guns to children."
Then life in prison happens.
So no, I wouldn't claim it
When viewed from the state - yes, for any goods and services you have to pay tax. But by the participants of the forum - of course not!
It's up to you to declare or not what you're earning. Then, if you're catched and didn't do it, things could go wrong for you. However, most people will never have problems due to the nature of Bictoin and since their earning are small.
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