bitcoinrocks (OP)
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April 14, 2015, 02:23:08 AM |
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Has anyone used bitcoin.tax? Is there anything better out there?
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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Hazir
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★Nitrogensports.eu★
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April 14, 2015, 03:25:29 AM
Last edit: April 14, 2015, 03:37:06 AM by Hazir |
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You're an idiot. The whole point of bitcoin to avoid the kikes in the IRS.
Gotta pay your taxes so niggers and single moms can survive!
This made me laugh. But seriously I never heard about bitcoin.tax before and I am checking their site now. I found this: https://bitcoin.tax/blog/bitcoin-taxes-things-to-remember/ and I am dumbfounded. What the hell is this? I live in EU and we DON'T have anything like that here. Why would I want even declare that I own bitcoin?! To pay more taxes? It is just stupid. |
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Salman Anjum
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April 14, 2015, 05:31:07 AM |
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I'm confused...
what is bitcoin tax software.?
Is it right or wrong?
can anyone tell me ?
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Amph
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April 14, 2015, 06:12:53 AM |
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i'm interested in this if it ever exist, can you point us to this software? i would like to see how it work
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kpitti
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April 14, 2015, 06:38:22 AM |
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Can you explain why to use any software to tax on Bitcoins? I do not understand reason why. May be I missed something important. Can I be part of tax office then?  |
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sgk
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!! HODL !!
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April 14, 2015, 06:53:12 AM |
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I'm confused...
what is bitcoin tax software.?
Is it right or wrong?
can anyone tell me ?
Can you explain why to use any software to tax on Bitcoins? I do not understand reason why. May be I missed something important. Can I be part of tax office then? When you trade Bitcoins for fiat or vice versa, you earn some money. Some countries require you to pay taxes on these earnings. However it is difficult to track your trades and calculate correct amount of tax to report, so there exist some softwares that can do this for you. |
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NyeFe
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April 14, 2015, 07:06:05 AM |
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Can you explain why to use any software to tax on Bitcoins? I do not understand reason why. May be I missed something important. Can I be part of tax office then? Maybe some people love paying tax more than others. How do I apply to be part of the tax office as well?  |
MicroDApp.com—Smart Contract developers. Lets build a decentralized future!
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Realpra
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April 14, 2015, 07:10:42 AM |
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If I were to trade bitcoins I would just attach my bank account to my accounting document and gains/losses would be determined by what I put in the exchange and what I got out. A - B = C Things are only complicated if you make them so  |
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sgk
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April 14, 2015, 07:18:41 AM |
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Can you explain why to use any software to tax on Bitcoins? I do not understand reason why. May be I missed something important. Can I be part of tax office then? Maybe some people love paying tax more than others. How do I apply to be part of the tax office as well? If you have been using an exchange which requires strict KYC policies, your trades might be linked to your bank account activities. Unless you have found a way to create fake bank account that doesn't link your identity to it. Different countries have different setup. Sometimes the tax authority does not have any information about your bank accounts and sometime that have been watching your accounts. In the end it all comes down to how well you have covered your ass which carrying out your Fiat-Bitcoin-Fiat trades. |
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sgk
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April 14, 2015, 09:35:30 AM |
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why sould i pay tax i mean where does that money go to and what will be done with it, i can not think of anything .
Reduce inequality (welfare payments like unemployment benefit). Provide public goods (fire, police, national defence) Provide important public services like education and health (merit goods) Debt interest payments. Transport Military spending At least they're supposed to. |
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bitcointaxes
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April 15, 2015, 01:50:46 AM |
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i'm interested in this if it ever exist, can you point us to this software? i would like to see how it work https://bitcoin.taxFeel free to ask if you have any questions. Can you explain why to use any software to tax on Bitcoins? I do not understand reason why. May be I missed something important. Can I be part of tax office then? In many countries, the profits from buying and selling property or assets is income. Income is taxed. In the US, if you mined any coins, it is income. If you sold/spent any coins for more than they were purchased, it is capital gains income. This made me laugh. But seriously I never heard about bitcoin.tax before and I am checking their site now. I found this: https://bitcoin.tax/blog/bitcoin-taxes-things-to-remember/ and I am dumbfounded. What the hell is this? I live in EU and we DON'T have anything like that here. Why would I want even declare that I own bitcoin?! To pay more taxes? It is just stupid. Depends where you live in EU. Many countries tax capital gains, and Bitcoin is treated in the same way. You don't pay taxes on Bitcoins, but you pay taxes on profits you make from selling them. |
https://bitcoin.tax - calculate taxes for Bitcoin and digital-currencies
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ticoti
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April 15, 2015, 01:58:18 AM |
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I don't know if the service is good or not, but the point is that even if you ask to some governments they don't know bitcoin and they don't how to tax it, so how does this service know how to tax your bitcoins depending on the country where you are?
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Amph
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April 15, 2015, 06:55:46 AM |
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I don't know if the service is good or not, but the point is that even if you ask to some governments they don't know bitcoin and they don't how to tax it, so how does this service know how to tax your bitcoins depending on the country where you are?
i think that if this program is legit(which probably isn't) it work for USA only, where bitcoin are regulated and taxable already but you can apply it for other country if you need to declare your increased income due to bitcoin |
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countryfree
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Your country may be your worst enemy
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April 15, 2015, 11:59:50 AM |
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I've never used any tax software in my life, and I never will.
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I used to be a citizen and a taxpayer. Those days are long gone.
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ikydesu
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April 15, 2015, 02:11:38 PM |
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This is legal ?  its not available for my country, actually i will not use it  except this have a regulation and forced from the govs, but really.... i will not use it  ~iki |
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josef2000
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April 17, 2015, 05:06:44 PM |
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Seriously, bringing taxes to bitcoin is just stupid. How will the government even indentify us as a bitcoin holder/user. They have no proof or whatsoever. Luckily, in my country, the government still doesnt know bitcoin very well and bitcoin is still not regulated |
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saddampbuh
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April 17, 2015, 07:23:32 PM |
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no because avoiding tax is one of the reasons to use bitcoin
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Be radical, have principles, be absolute, be that which the bourgeoisie calls an extremist: give yourself without counting or calculating, don't accept what they call ‘the reality of life' and act in such a way that you won't be accepted by that kind of ‘life', never abandon the principle of struggle.
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bitcoinrocks (OP)
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April 18, 2015, 04:06:33 PM |
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If you're hoping to avoid tax, it's going to depend on how you acquired your BTC. It's a public ledger after all.
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manselr
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April 28, 2015, 05:26:02 PM |
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You're an idiot. The whole point of bitcoin to avoid the kikes in the IRS.
Gotta pay your taxes so niggers and single moms can survive!
This made me laugh. But seriously I never heard about bitcoin.tax before and I am checking their site now. I found this: https://bitcoin.tax/blog/bitcoin-taxes-things-to-remember/ and I am dumbfounded. What the hell is this? I live in EU and we DON'T have anything like that here. Why would I want even declare that I own bitcoin?! To pay more taxes? It is just stupid. What if they discover that you own millions of BTC when you buy something? they could trace it back through the blockchain. How to avoid this? Is mixing the coins you are going to use before you buy whatever enough? Not that I have millions, in fact I only got 2 BTC, but who knows how much 2 BTC will be in 10 years. |
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RodeoX
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The revolution will be monetized!
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April 28, 2015, 05:35:32 PM |
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It's not hard in the U.S. Bitcoins are treated as capitol gains. You need to know:
What you paid for the coins.
What they are worth at the time you sell or spend them.
How much and what percent you will pay varies depending on your bracket and other things. It could be as low as zero but is very unlikely to be more than 20%. You will have to do your taxes to find out, but you will only be paying taxes on the profits and you don't need to say how many coins you own.
If you lost money then you can also claim a loss and reduce your taxes.
Few like to pay taxes, but the good news is that this will be less taxed than the money you work your ass off for.
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bitcoinrocks (OP)
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April 28, 2015, 06:18:14 PM |
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Yep, if you held the coins that you sold for 1 year or more, it's long-term capital gains and you pay "only" 15% in tax.
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oblivi
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May 02, 2015, 08:46:10 PM |
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It's not hard in the U.S. Bitcoins are treated as capitol gains. You need to know:
What you paid for the coins.
What they are worth at the time you sell or spend them.
How much and what percent you will pay varies depending on your bracket and other things. It could be as low as zero but is very unlikely to be more than 20%. You will have to do your taxes to find out, but you will only be paying taxes on the profits and you don't need to say how many coins you own.
If you lost money then you can also claim a loss and reduce your taxes.
Few like to pay taxes, but the good news is that this will be less taxed than the money you work your ass off for.
What if you legitimately forgot/lost said data? as some people has mentioned before, it is more than probable that a lot of your trades were done under exchanges that are now dead and there is no way to recover all the lost data... so in hell are you supposed to try to figure that out? |
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