Are you going to pay taxes?

[Anonymous]

Fine if we were discussing what is best for Atlas, but that does not translate into what is best for all Americans.

That's the thing: No one is supposed to decide what's best for me or anybody else. You disagree with that and that's fine.

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[smellyBobby]

This is going off topic, but I'm curious. Where do parents fit into this? And say laws like speeding, drink driving?

[ctoon6]

nope

[SamboNZ]

if everything will be taxable including bitcoin then we should work harder for it, then half of that will be given to the government for them to use it for their own good. haha. better not pay my tax in bitcoin if ever.

[Xising]

It depends. The thing is with bitcoin’s value being too high, I’m afraid that the cost of taxes will be high as well. However, if it’s converted into our country’s currency, then I will definitely pay.

[TheGodFather]

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 think that the most important thing we should remember is that our government and world leaders are looking this up. That is also one of their concern as they would want to have this new currency regulated or taxed to also for them to gain something

[rynah011991]

Yes we are obliged to pay tax. Because we are covered with the government laws. That taxes were used for the government purposes.

[Sithara007]

It depends. The thing is with bitcoin’s value being too high, I’m afraid that the cost of taxes will be high as well. However, if it’s converted into our country’s currency, then I will definitely pay.

You need to pay taxes only if you convert your Bitcoins to Cash. The capital gains tax (either long term or short term) needs to be paid only if you "realize" your gains. As long as you are not converting your BTC to cash, the gains are not "realized". So in short, I would say that the tax burden is going to be much lower than what you are expecting.

[Getcoinsite]

What kind of question is that?another spamming?taxes is required by the government and if the government requires me to pay that amount who am i to object?but thats a foolish question HALF  OF MY EARNING?wake ul mate are you dreaming?thats to far from IMPOSSIBLE

[ichsan ardi]

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.

the answer is yes. of course as a good citizen I have to pay taxes. My hope is that the tax money I pay can help the development and economy of my country.

[nekobod]

I have an aggravating news for the US citizens and residents: If you buy/sell cryptocurrencies and haven't deal with the tax issue in regard to this before, you will have no clue what madness it might involved. If you are a last-minute-tax-filing-person before April 15th deadline, you better start doing your tax filing homework soon.
Even if you have a CPA doing your text return, you might be the one who needs to educate your CPA, or pay a high price for them to learn so that they can file your return.

All cryptocurrencies' prices fluctuates every minute, therefore, in order to be in advantage position as far as paying capital gain is concerned, and at the same time do not let Uncle Sam thinks you are cheating by not report fair market value, you need to record the BTC/USD price the time you sell, and the time you buy.  

I'm new to crypto investing, but not new dealing with tax filing, so I have started doing it as soon as I sold my first crypto portfolio. I tell you, keeping track of the prices between AltCoin/BTC/USD is a total madness.

[cryptoimal86]

As a civilized citison, we must pay income tax to goverment. But it shouldnt be half of full income. Thats not fare.

[ttbd]

Yes i'm going to pay my tax. Paying tax is our obligation in our society.

[shinchan123]

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 really don't want to because it's too big. However, no matter how hard I refuse, I still have to pay for it because it is considered illegal in our country to not pay taxes. The reason why I don't want to is because of our corrupt government officials. I think the money just goes in their pockets.

[spongegar]

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 taxes apply on bitcoin. I'd do everything, research all the loopholes, talk to all lawyers so i could get around not oaying them. This doesn't just apply to bitcoin but to all my taxes. I mean i really do honor the system of governance and taxation. But so long as me dodging it is legal then I'll do anything to do it. But if that's not the case then I'll pay em. It's the law

[yaloyalo]

Definately no)
Taxes for loosers 

[binting]

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 pay tax   little store just need  tax.

[Xester]

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 pay tax   little store just need  tax.

I will pay taxes. Because taxes are usually used in a good way like helping other people. And it also required because we should pay a little amount that we earn from our work. But this taxes should be use responsibly to avoid misused.

[M05J]

Once you convert your coins into fiat, yes.

[billsted86]

"Give everyone what you owed him: If you owe taxes, pay taxes; if excise, excise; if respect, respect; if respectful, respectful. "