Taxes

[buytheeffinD]

Whatever is most fair for all the citizens in that country. It should be bracket tiers I think based off how much you make but with cryptos and other investments I think they look at the duration of how long you had it before

deciding tax %. Whatever it is, it should be fair in nature.

[1715167220]

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[1715167220]

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[Geyt Used To It]

As the cliche goes, "Two things certain in life are death and taxes." That being said, I love to do whatever possible to keep any government out of taxing ANY digital currencies. Once most of the states catch on, they will find a way. New York State Department of Financial Services has already created a BitLicense and once most states see the money they're missing out on you can bet it will be coming to a city/state near you.

[spongegar]

declare the profit as capital gains when you cash out you as would with gold or anything else

This seems feasible. But what seem feasible for us may not be the same for the lawmakers. Not unless we have someone in the legislature who is actually pro crypto currency. That being said, law makers want to have a cut of the profits made with crypto. I'm pretty sure there will be an umbrella tax scheme that will involve not only crypto currencies but other exchanges

[alexv10av]

The tax is 1%. This is a fair figure, in which all the cryptomaniacs can go out of the shadows and give a small percentage. And for the state a huge plus, as the number of cryptomaniacs is growing every day.

[Ethereum Token]

unknown

[JesusCryptos]

So my question is... What do we want, in the US and everywhere, as a proper tax scheme for crypto?

Nowadays, everyone will agree that Bitcoin is behaving more like an investment asset rather than as a currency. So my opinion is that any profits from crypto-to-fiat trade must be treated as capital gains. Depending on the duration of the investment, we can classify the gains as short term capital gains or long term capital gains and tax them accordingly.

I see your point, but what to do with the losses? There are years of bear market where you end up losing most of what you have, does the state refund you a part of those? Does it allow you to detract these losses when you then have gains in some later year? I don't think so. They just want to suck your blood. I won't endorse that.

[NightCloudz07]

The tax is 1%. This is a fair figure, in which all the cryptomaniacs can go out of the shadows and give a small percentage. And for the state a huge plus, as the number of cryptomaniacs is growing every day.

a compulsory contributions to state revenue leveid by the government on workers income and business profits or added to the cost of some goods, services, and transactions a strain or heavy demand impose a tax

[Kotone]

I know, you're bored already. However, taxes are becoming extremely important in the crypto world. If you don't want to have a China regulation issue throughout the world, taxes need to be discussed now. As a business owner I know you need to get out ahead of the politicians or your entire enterprise can get shut down.

So my question is... What do we want, in the US and everywhere, as a proper tax scheme for crypto?

I Think that we first should realize is that cryptocurrency is vastly different from regular money. However once we have balued and put a stamp on it and learn the differences we can now manage to develop a scheme separate and we can manage for cryptocurrencies.

[Sithara007]

So my question is... What do we want, in the US and everywhere, as a proper tax scheme for crypto?

Nowadays, everyone will agree that Bitcoin is behaving more like an investment asset rather than as a currency. So my opinion is that any profits from crypto-to-fiat trade must be treated as capital gains. Depending on the duration of the investment, we can classify the gains as short term capital gains or long term capital gains and tax them accordingly.

I see your point, but what to do with the losses? There are years of bear market where you end up losing most of what you have, does the state refund you a part of those? Does it allow you to detract these losses when you then have gains in some later year? I don't think so. They just want to suck your blood. I won't endorse that.

That is the problem with taxation in general, and not limited to the taxation on crypto. In most of the nations, there is no provision for adjusting previous years capital losses with the capital gains. And the biggest irony is that the left wing politicians want capital gains to be taxed like regular income.

[Johnzky]

declare the profit as capital gains when you cash out you as would with gold or anything else

i think thats the better thing to do mate for us to be taxed,so the government wont push any movement towards crypto.and being person we had obligation to pay taxes whenever we earn.thats the rule of every government in which is fair,no earning no tax.

[popcorn1]

If no one payed taxes how do you have ..
Army police schools roads motorways sciences courts jails ..

How do you pay for it..

Toll roads for everyone and every road you use you pay a toll?  ok so how do you pay then..

Police if you call them out because your husband or son is kicking his mother sister father
do they charge you per call..
Well i can see you been beat up BUT that's 2 grand please for calling us out and renting the jail over night?..So how do you pay then YOU STUPID HUMANS..

THE ONLY WAY ..
You thick fuckers is through TAXES ..IDIOTS.. ..

No but paying taxes is like socialism  ..You dumb fucks..
So let your areas go to shit then because of no taxes collected..

DUMB ASS HUMANS..Yes most of the USA are thick as shit BRAINWASHED IDIOTS..

OH god bless but BANG and your dead ..