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Author Topic: Are you going to pay taxes?  (Read 15245 times)
xena2
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November 14, 2017, 04:43:48 AM
 #161

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.
Well it is fine with me.  As long as it is fair for us.  We have spent time and effort here and it would be fare we receive a fair share.  That which will be enough for all the effort and time we have spent here.

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oseikuf44
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November 14, 2017, 07:19:15 AM
 #162

My conscience won't allow me to sleep if I don't pay it. So I will do it.
Nikosgalis1957
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November 14, 2017, 07:42:08 AM
 #163

Of course I will try to avoid it. Taxation is theft.
DarthToon
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November 14, 2017, 03:10:47 PM
 #164

I will pay taxes if gains are a profitable sum, however in my country there isn't a regulation under gains from Bitcoin, so I don't have to....
nekobod
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November 14, 2017, 10:56:16 PM
 #165

For those US tax payers who don't want to pay taxes on their cryptocurrencies' earnings, you may want to read this:

Coinbase IRS Update
https://blog.coinbase.com/coinbase-irs-update-ed9c966c7747

If you intents to not pay, don't ever think Uncle Sam can't get you.

My guss is, if IRS does this to Coinbase, it is doing it to all other exchanges that have US customers.

This article actually made me realized something: many years ago, I invested in a P2P lending platform. For three years I didn't report my earning – not because I tried to cheat, but because I thought it was the same as in stock market, that if you don't sell your portfolio you don't report – the lending platform didn't issue 1099-DIV for the first two years of my investment didn't help either. At the forth year, I got audited for the past three years. My earnings were little so panelties were bearable. This made me think that the chance of the IRS demanded the lending platform to submit all customers' accounts is pretty high, and the company didn't tell its customers (if this is the case it is violating customers' privacy).
Tomas enck
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November 14, 2017, 11:15:46 PM
 #166

of course I will pay taxes. because as a good citizen must be law-abiding and must pay taxes.
 

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toahowusu
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November 15, 2017, 12:29:39 AM
 #167

Why not ,If I make a supernormal profit. At least that will be contributions to the society
PrinceFE
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November 17, 2017, 02:32:43 PM
 #168

YES I'm going the pay taxes because here in the Philippines  taxes is very important to the government to build our nation. The salaries of the government employees. And we have different kinds of taxes, the income tax deduction from our salary, the capital gains tax- tax from  purchase of land, donor tax if some one gave a land, the vat taxes of our goods we buy, our foods and many other. So i let"s pay our taxes to help our government.

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SangkuniBird
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November 17, 2017, 03:02:57 PM
 #169

Yes I will pay taxes as a citizen who obeys his country regulations. I will pay taxes according to my income per month. because with us paying our taxes at least help us a little our country by paying taxes.

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PepperaOnIt
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November 17, 2017, 03:22:58 PM
 #170

sad but we need to pay taxes. taxes is for our country and the government must use it so it is worthy that we pay are taxes. thanks to our country because we do not experience taxes in bitcoin, only workers. but i think when the time come we are all also need to pay our taxes so we do not commit crime. not paying taxes is crime.

w33man
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November 18, 2017, 07:48:25 AM
 #171

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 bitcoin was to be legalized, then it would be entitled for tax. Therefore, all of bitcoin users and any activity involving bitcoin should abide the law by paying tax. As much as I dislike the whole idea, we need to follow the law to be good ctizens.

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patykuprova
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November 18, 2017, 08:11:21 AM
 #172

To myself, i really dont like paying taxes, but to my society, taxes from everybody is very important to keep my society works, so i will pay taxes even if i dont want to.
ColdShoulder
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November 18, 2017, 08:26:03 AM
 #173

Taxation is theft. I am never paying tax if I don't have to. So no, besides the one the steal from me. I am never paying tax

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Tramle091296
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November 18, 2017, 08:47:04 AM
 #174

No. Cause the income here is not high and the government is no concern here in thats why i dont want to pay taxes Smiley

Barak Ocrypto
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November 18, 2017, 09:36:31 AM
 #175

If I'd earn 1 Million dollars with my bitcoins I'd move to a country where I don't have to pay taxes - as simple as that! Cheesy
denulh
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November 18, 2017, 09:38:49 AM
 #176

I will have to pay taxes no matter what i want or not, i can not hide from the government law.

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Tuare aget
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November 18, 2017, 10:16:06 AM
 #177

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 get income and the rule asking me to pay tax then i will pay it.
Actually its good to pay tax if that money used for build the country.
herecomesjohnny
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November 18, 2017, 10:19:45 AM
 #178

Taxes are not a game or a toy. If I calculate taxes including my BTC it would get very bad for me. I don't want the tax inspectors coming after me and suing me so I will report taxes when I cash BTC. In some countries, it can be avoided but I don't think I can avoid it in my country.
Sexie
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November 18, 2017, 12:06:45 PM
 #179

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.
  in my opinion  paying taxes  has its bracket ... if is  taxable why not  if you sure that all taxesit will go to the benefits of its people



rynah011991
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November 19, 2017, 10:13:45 AM
 #180

Yes. You have to pay taxes as required by government laws. And if your income was taxable you have to pay the tax and definitely will go to the corrupt government officials!
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