Bitcoin Forum

As there are a good amount of people who are trading crypto, trading bitcoin, and so on and so forth. Do you think there is a lot of money to be made in doing accounting / tax work for people who need it in the bitcoin space? As I would think a lot of people who are involved in trading, exchanges, etc aren't complying with IRS / their tax authroity rules which they have to be complying too.

Plus, how many of you actually do your taxes for bitcoin anyway?

Why pay taxes?
A state that only steals people?
What is corruption?

To feed thousands of officials who live in palaces and ride on yachts for millions of dollars?

Bitkoyn was created in order for a person to be free from anyone!
Tax and banking systems went right!
And you have to be a complete idiot to give away some of your income.

As long as i know cryptocurrency, the government in my country has never levied a tax on anything related to crypto. But if they ask for it maybe i will give it because i'm a person who obeys the rules or laws that apply in my country.

It's interesting how some people don't want to pay taxes but at the same time they expect to have wellfare state with all benefits such health care, schools, modern infrastructure and so on.

However, Bitcoin itself it's not taxed in majority of countries. On the other hand transactions are, so if you trade Bitcoin you should also pay taxes. But to my opinion this trading volume is not that big so this wouldn't be some big source of income for governments.

I think this is going to be big business in the future. At the moment there aren't many qualified accountants that have knowledge of bitcoin and how it is taxed. As more people use bitcoin to buy bigger items like property there is need for legal advice and solicitors / accountants haven't studied crypto so good to start a bitcoin law business if you are qualified.

Without getting in to the argument of paying taxes or not. There's bound to be big money in crypto/bitcoin accounting for the guys who really know what they're doing. They can charge a premium for being knowledgeable in the area and if they save their client a few hundred thousand then they won't mind compensating them handsomely.

Any industry that is growing is going to need professionals from other industries. I will pay my taxes of course every year, no need to run away. Whatever professionals there are in life though, they can essentially all find a job in the Bitcoin industry.

Dude, I already paid many fees just to transfer money from my bank account from my country, so you have an idea I paid more than $60  just to transfer money to my bank account and still paid many fees to use my mastercard card and in my country I pay many taxes, I need to rest, I need to stay days without hearing this word "taxes" and I hope they do not ask to pay.


I also do not run away, but it becomes tiresome to pay and not see palpable results from where the money is invested, on the contrary I see politicians enrich every day

I don't think so. At least not in EU.

In EU you are paying Capital Gain tax in most country, only when you are converting crypto to fiat. For example, I'm converting just few times per month and I need to fill a simple line of info for each transaction in the end of the year. I'm doing it myself. It's simple and I don't need an accountant for this.

There aren't many people who are complying to their local government's tax policy so I think the need/demand for a tax accountant is really there, or if there is, it isn't really a significant number and only a few would be getting those jobs and it could be those acquaintances of these traders. When crypto taxation goes full-blown and the governments really pursue tax evaders, then that's the time these tax accountants would be in demand. So far I haven't seen a single nation with aggressive crypto tax rules, but in the future it might be the norm given that the government are now aware that crypto trading gives in some serious profit.

Yes there's a lot of money to be made in bitcoin,once bitcoin is coming on your way. Because when bitcoin price is very expensive you can made easily a cash. Because for me bitcoin produce money as long as you are interested to learn how to have a bitcoin and other coins. If you recognize the way of bitcoin how to be rich, you can have it too as long as you learn more about it.

There is a lot of money to be made in crypto, as for accountaing, tax, there are already some companies doing this business. I think companies tracking ledgers can make more money.

For now, our country government is not yet involved in Bitcoin Accounting. But maybe they are also looking into it in the near future. Any way Bitcoin can be used in some real estate and merchandise purchases as virtual currency so most likely it will happen so soon. And if that happens then we just have to comply with it.

There are no set rules for taxes on cryptocurrencies and each country is looking at a different approach on imposing taxes. I'm sure the accountants who go through this haven't yet received enough information regarding what they should be doing when they see crypto income as a source. Yet, I believe when an actual set of rules will be laid down on taxing cryptos, these bunch of people will make big bucks as they will be helping out the sharks by availing rebates and what not.

Yes,same kind of people need to start creating their bank accounts which are solely dedicated for crypto trading and should have accountants who take care of their taxes.There are the only type of people responsible for the failure of crypto.I miss those days when I used to have high hopes from the technology of the future.Never knew,it will all boil down to banks again.

I doubt if there are traders who pay taxes for bitcoin expect few miners and exchanges; or else exchanges indirectly collect it from their charging fees. And on the issue of accounting for bitcoin, I doubt if much people will trust you with their coins on this but if you make it to be a transparent system and affordable probably they might trust you a bit. But still much holders won't be needing this service.

Tax should be if the country that the exchange is collects tax on cryptocurrency. And off course, there is a lot of money to be made with bitcoin accounting but the issue is on trusting another on it to be honest and not defrauding the donor.

At some point your local tax man will strike, especially if you're American. Most people don't give a shit about their anonymity and places like Bitpay or Coinbase may be forced to cough up records of enormous buys and sells.

And as Poloniex will soon be under Circle's wing you can bet your bippy that they'll be handing over records to enforce those new crypto to crypto tax rules in America.

In those circumstances a tax professional who knows their stuff will be a very popular person indeed. I've seen a few accountants warming to the idea. No doubt there'll be many more in future. I wouldn't bother consulting one who was clueless about it.

i think so yes , a lot of people investing in this space never invested before , so they have no idea what to do when make some money. if you have some experience already it seems like a smart choice.

In my own country, the government did not intervene in the cryptocurrency area so we did not need to pay taxes on them, and we were not protected by law when we were deceived.
That's fair and I think we should not pay them taxes. currently in Russia, has introduced relatively high tariffs for bitcoin traders. Traders are forced to pay taxes to the state. My country is not and I am happy about that. ;D

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Both Bitcoin and crypto accounting, definitely.

I also think there's a huge market for crypto accounting tools, for example, for tax purposes.