Are you going to pay taxes?

[purangko]

Are you going to pay taxes on your Bitcoin profits?

Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.

You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.

Yes, I will pay my tax to help not only the poor individual but the country as a whole. I believe that even my micro contribution can still contribute allot to have a macro solution to the success of my country.

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[Sithara007]

Each of us have different thought and different ways in earning money but i think i dont need to pay taxes because im here in bitcoin and I am not going to pay taxes from all the profits I get from Bitcoin operations cause i dont work in company i just work myself in surfing bitcoin and dont have any connection to my community.

The government is not going to compensate us if we suffer a loss from our Bitcoin investments. It is a great risk to invest in Bitcoins or any other crypto-currency. But even after all this, if we get profits from our Bitcoin holdings, then the tax authorities will demand that we pay up. It is simply not fair.

[xena2]

Are you going to pay taxes on your Bitcoin profits?

Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.

You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.

If I convert any to dollars sure.  In the US any profit over $200 for the year is federally taxable I believe.  Of course profit is how much you sold the coins for minus the price you bought them for.

Yes. If i have to why not. It is not a problem especially if it is implemented by the law. It is never wrong to follow it as long as it does not harm anyone.

[Ravenangel]

Of course, we should pay our taxes accordingly for our country to survive also. Government rely on the taxes the people remit in order to have infrastructures and other projects for our own good also.

[SamboNZ]

I dont mind paying taxes when i can see improvements in my country. For the past years and administration here in the philippines i dont see outcomes from the taxes i pay that it makes me want to skip taxes. But now that the president and the country's leaders are doing their job well in building and making use of the taxe well makes me trust my government again and start paying taxes sincerly.

[swordling143]

Are you going to pay taxes on your Bitcoin profits?

Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.

You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.

If the government requires it to, then I guess I have nothing to do but to submit to their demands. It would be illegal to not pay taxes if the government declares it necessary. I don't want to stop doing what I am doing that's why I will just abide to their rules. The way I see it we don't really have a choice after all.

[Sutters Mill]

As I said, just make sure that all your taxes are in order because if they can fine you for not paying the correct amount they will

They won't if you apply at least small effort to hide your Bitcoin income. Vast majority of people in the world don't live in countries with fair and transparent governments like Scandinavia. I think nobody wants to buy another yacht or jet for the corrupt politician!  

You might be able to hide your income fairly well but good luck trying to explain where you got all the money from to fund your own lavish lifestyle when you're clearly living well beyond your means. It's no good having a load of money just hidden when you can't even spend it but if you try to buy a house or start buying yachts for yourself etc you'll soon catch the eyes of the law and you'll have a lot of explaining to do when they ask you how you can afford all this nice stuff. Bottom line is if your country requires you to pay taxes then you should. If people don't like them then there are plenty of countries that have no taxes or very little that you can emigrate to. I don't think the threat of prison, fines or criminal records is worth the hassle personally and I don't mind paying reasonable - reasonable being the keyword here - taxes as long as they're spent on benefiting society and not wasted on needless wars and bailing out corrupt banks when they fuck up after gambling with other people's money.

[zombie6]

everything in our country is very poorly regulated and I do not think that this will happen in the financial sector in the near future, and so if they squeeze me then nothing will remain!

[Peter Murr]

I am going to be paying taxes on what I cash out.  However, I'm attempting to cash as little out as possible.  So far I haven't cashed out any.

[teo220]

I dont recommend anyone to pay tax for btc or mining earnings.

Guys, the governments and zionist bankers are still stealing our money thanks to banks and taxes.

No Tax.

[Sutters Mill]

I dont recommend anyone to pay tax for btc or mining earnings.

Guys, the governments and zionist bankers are still stealing our money thanks to banks and taxes.

No Tax.

Lol. Are you going to bail people out of jail after they take your advice? Everyone is free to try evade their taxes if they so wish, but don't complain when you feel the consequences of your actions because merely protesting the so called 'zionist bankers' by not paying taxes really wont stand up in court. If you want to protest them then do it from a country that doesn't support them instead of trying to break the law of the country you're in whilst reaping all the benefits the society of that country offers you for paying taxes into it.

[DamianGod]

Are you going to pay taxes on your Bitcoin profits?

Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.

You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.

Yes, but to the business  that I built through my earnings in bitcoin. It's good to our heart that we can help our country by contributing small amount of our money. And I'm still trusting my government to used it in a productive and very faithful project to enhance and help our economy.

[spasmadness]

No, Bitcoin is anonymous and if i do a transaction then noone can know that is me . Taxes is only for the identify transaction and bitcoin isn't it.

[thet]

Are you going to pay taxes on your Bitcoin profits?

Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.

You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.

I don't think so. To be honest, i don't want to pay some tax if i do have a choice. But since it is the main concern in our country, i have to pay taxes.

[coolcoinz]

No, Bitcoin is anonymous and if i do a transaction then noone can know that is me . Taxes is only for the identify transaction and bitcoin isn't it.

That's as long as the transaction doesn't concern any real life goods. Try buying a house or a car and you'll see how fast the authorities come knocking on your door.
Bitcoin isn't anonymous! It's one of the most common wrong assumptions that people have.
You can be anonymous if you mine the coins and trade them for altcoins or cash. If you bought the coins from someone on an exchange the anonymity is no longer there.

[candy69]

I think every capable person should pay taxes. It is not only good for the economy but also good for the country.

[Cling18]

Are you going to pay taxes on your Bitcoin profits?

Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.

You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.

Taxes are burdens to be honest. It is really hard to earn money these days so paying taxes a burden to everyone. If I wouldn't have any chances not to pay taxes then I wouldn't but if it's abided by the law, I will follow the rule. It is part of our duty as citizens of our country.

[Rozcobs]

Yes we have to pay taxes the right way and the right amount. One of them is the income tax. To be a citizen in a country where law executes to take taxes from its people so they have to implement it. How many millions you have there would be very hot in the eyes of the public if you let them know it. So to not go into legal complaints in the future, have to pay appropriate amount to the government.

[Stegobit]

You might be able to hide your income fairly well but good luck trying to explain where you got all the money from to fund your own lavish lifestyle when you're clearly living well beyond your means. It's no good having a load of money just hidden when you can't even spend it but if you try to buy a house or start buying yachts for yourself etc you'll soon catch the eyes of the law and you'll have a lot of explaining to do when they ask you how you can afford all this nice stuff.

That's as long as the transaction doesn't concern any real life goods. Try buying a house or a car and you'll see how fast the authorities come knocking on your door.

If you want to easily make such big purchase, you can pay taxes only from the corresponding amount. From legal point of view you can declare that you have found buried treasure and in most countries only income tax will apply in this case. If you will show up all your earnings, you will have to pay much more!

Bottom line is if your country requires you to pay taxes then you should. If people don't like them then there are plenty of countries that have no taxes or very little that you can emigrate to.

Why I need to emigrate? Maybe some impostor (govt members) must emigrate to the Mars?!

I don't think the threat of prison, fines or criminal records is worth the hassle personally and I don't mind paying reasonable

BTW, prison is good place to recruit fighters who will hang bastards, who captured the power and want to act like God.

reasonable being the keyword here - taxes as long as they're spent on benefiting society and not wasted on needless wars and bailing out corrupt banks when they fuck up after gambling with other people's money.

Be honest, how many government in the world are honest and think about population's good? 3..5..maybe 10? I don't think more!

If I wouldn't have any chances not to pay taxes then I wouldn't but if it's abided by the law, I will follow the rule. It is part of our duty as citizens of our country.

Country and people ≠ state and government!

[KrLos]

Are you going to pay taxes on your Bitcoin profits?

Suppose you make a million dollars. Suppose you have already made a million dollars. Are you going to hand half of that cash over to the government? Of course, this is assuming you convert your coins into federally recognized cash. If your only intention is to amass a huge supply of Bitcoins, the question does not apply to you.

You're supposed to pay income taxes. It seems rather easy to get away with not doing it, though... at least in this case.

Reliability and security is one of the main advantages of bitcoin. Therefore, I would advise conducting as many operations as possible through blockchain, in bitcoins. To avoid paying taxes for cashing out