You can't avoid taxes by investing in bitcoin - page 6.

Herbert2020

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well this is not new! i am not from US but this thing with taxes and bitcoin has been around from 2014 when IRS officially released their statement towards bitcoin and gave the guideline so that taxpayers can fill the appropriate forms to pay their taxes while investing in bitcoin.

Quote from: Dorky on April 11, 2017, 12:36:41 AM

I believe that applies only when you buy and sell bitcoin at an exchange, where the exchange has all your personal details and accounts.
If you just hold your bitcoin outside the exchanges, no government will be able to tax you because they won't know how much you have.

i think that can still be considered as tax evasion. you can ask @BurtW about it!

Dorky

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Quote from: dihari on April 10, 2017, 11:55:10 PM

If you think investing in bitcoin or a similar “crypto-currency” may be a good method for hiding income from the tax man, you’d better think again.
http://nypost.com/2017/04/08/no-you-cant-avoid-taxes-by-investing-in-bitcoin/

I am smelling something good here with the news. If the government declared about how peoples can't avoid the taxes by investing in bitcoin, it means directly or indirectly government said that they recognize the existence of bitcoin and how it can be profitable to invest.

I believe that applies only when you buy and sell bitcoin at an exchange, where the exchange has all your personal details and accounts.

If you just hold your bitcoin outside the exchanges, no government will be able to tax you because they won't know how much you have.

dihari

hero member

Activity: 910

Merit: 525

If you think investing in bitcoin or a similar “crypto-currency” may be a good method for hiding income from the tax man, you’d better think again.
http://nypost.com/2017/04/08/no-you-cant-avoid-taxes-by-investing-in-bitcoin/

I am smelling something good here with the news. If the government declared about how peoples can't avoid the taxes by investing in bitcoin, it means directly or indirectly government said that they recognize the existence of bitcoin and how it can be profitable to invest.

Topic: You can't avoid taxes by investing in bitcoin - page 6. (Read 4860 times)