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Topic: Taxes and mining - page 2. (Read 1336 times)

legendary
Activity: 1582
Merit: 1064
January 10, 2017, 12:03:50 PM
#2
Id think bigger mining DCs will have a hard time due to the thin layer of profit to begin with.

Since taxes are only on the 'profit" from operating a business, this is not a disadvantage.
Big mining DCs will be able to claim all tax shields, including depreciation.
legendary
Activity: 1027
Merit: 1005
January 09, 2017, 06:00:39 PM
#1
Im still trying to figure out how taxes work in regard to mining. My thought and understanding at this point is that its treated like any other income - like a business and taxes as such. Once this is fully enforced how will it effect mining operations? Id think bigger mining DCs will have a hard time due to the thin layer of profit to begin with. They have to convert BTC to fiat to cover costs where a home miner doesnt so much. A home miner can 'hide' by never converting to fiat and leaving no paper trail.

Thoughts?

Can anyone link me to more info on taxes related to mining?
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