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Author Topic: NYC/Taxes  (Read 25 times)
lasttimei
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January 25, 2018, 03:17:03 PM
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1/1/18 i withdraw about 2k usd from coinbase.
Am i really going to have to pay taxes for this.
Not planning on withdrawing more than 10k-15k per year.

Sucks when the government is controlling everything.

Does anyone know of a coinbase alternative that would work in , Dominican Republic .
I can always get a friend to withdraw from their .
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Today at 01:17:07 AM
 #2

If someone is providing you a service they will definitely charge you for this. You have to pay to the bank and to the coinbase as well.
If someone is purchasing btc from you then you have to agree on the rates they gave you and in this case you are paying them for the services.
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Today at 02:48:01 AM
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1/1/18 i withdraw about 2k usd from coinbase.
Am i really going to have to pay taxes for this.
Not planning on withdrawing more than 10k-15k per year.

Sucks when the government is controlling everything.

Does anyone know of a coinbase alternative that would work in , Dominican Republic .
I can always get a friend to withdraw from their .

Bitcoin tax is un avoidable if Bitcoin is legal in your country so really expect taxation if you convert your Bitcoin to dollar in NYC or USA but if Bitcoin is not legal but not ban in Dominican Republic then any local exchanges will do just do research in the internet for the available exchanges. I suggest you to trade your Bitcoin in these countries like Japan, France and Germany  because the use of Bitcoin in these countries is less to zero taxation.

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Wheelige
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Today at 02:56:33 AM
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I would be very cautious before participating in tax evasion activities. Tax evasion is pretty serious and if caught you will be a hell of a lot worse off than if you just paid your tax.
You can look at this like the government is controlling everything, but you could also look at this like any other source of income which the government gets their share of to pay for services that you use. Do you like driving on roads without potholes and having schools for your kids and (for other countries) healthcare provided? Then pay your tax.

One big thing against bitcoin/crypto for governments is that people have another avenue to hide money and not pay tax, so if you want it to be around you should be looking to aid in what could be its demise.

The IRS is pretty active in tracking people down and could, through the courts, require coinbase supplies a list of transactions which would show your overseas antics and track your money. Even though an overseas exchange cannot be compelled to hand over records they very well could, leaving you in the shit. Do you really want to roll those dice?

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