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Title: Attention U.S. Based Miners - Tax Incentives for Equipment Purchases Post by: jjj0923 on May 09, 2014, 10:40:38 AM It's none of my business how you report or do not report income but there are major advantages if you guys form an LLC.
First off you get to expense a portion of your home on your taxes and lot os other advantages. I've formed multiple LLC in the past and have used this company - you can do it for as little as $79 to form a Delaware Corporation (no corp tax) https://www.incorporate.com/incorporate_delaware_v3.html?iq_id=60831304-VQ16-c&utm_medium=ppc&utm_term=60831304-VQ16-c&utm_source=google&cid=60831304-VQ16-c&campaign=ppc&gclid=CPbojOvSnr4CFcZaMgodiXUA1g The other HUGE advantage is that you get to write off and depreciate your mining equipment and potentially show a loss which is then applied to Personal Tax Return because you are 'active' in the business. The other advantage is that Section 179 of the U.S. Tax code limits have been restored so there's 50% Bonus Depreciation on Equipment purchased in 2014. http://www.section179.org/ well - good luck whatever you decide to do. Title: Re: Attention U.S. Based Miners - Tax Incentives for Equipment Purchases Post by: captchunk on May 11, 2014, 03:10:51 AM Shit yeah, now that is what I call some useful information my friend.
Thanks for sharing!! |