How do I avoid tax on crypto

[Franke666]

If I make money on crypto currencies. How do I avoid as much tax as possible?

[Kprawn]

If I make money on crypto currencies. How do I avoid as much tax as possible?

Bitcoin is a currency, not some solution to avoid paying taxes. The moment when people start using Bitcoin or any other

Crypto currency as a method to avoid paying taxes, then the government will step in and ban it. I would much rather pay the

taxes and be done with it, than sleeping with open eyes, waiting for the Police to raid my house in the middle of the night.

That is no way to live your life... rather pay those taxes. 

[Caesar-Giulius]

If I make money on crypto currencies. How do I avoid as much tax as possible?

Bitcoin is a currency, not some solution to avoid paying taxes. The moment when people start using Bitcoin or any other

Crypto currency as a method to avoid paying taxes, then the government will step in and ban it. I would much rather pay the

taxes and be done with it, than sleeping with open eyes, waiting for the Police to raid my house in the middle of the night.

That is no way to live your life... rather pay those taxes. 

I agreed that avoiding tax is not cool. Since you have made some money with crypto, why not pay some tax to your government. Bring some positive sides of crypto.

[stompix]

If I make money on crypto currencies. How do I avoid as much tax as possible?

Simple
1. Move to a country that has 0 taxes or lower taxes on gains made from crypto trading.
2. Sell your coins for cash directly in person, then stash the bills under the mattress.
3. Hire a pretty good lawyer specialized in this....

Depending on which country you live in you might get away with the second option...or end up in jail.

It would also be nice if you would tell us where you're from...
Since it's one thing if you live in the US or Moldova.

[izanagi narukami]

If I make money on crypto currencies. How do I avoid as much tax as possible?

Depend on your government policy.

Luckily my government still not legalize bitcoin yet so I can still earn bitcoin without paying any tax.
For who already legalized by government, there is no other way since when people not paying the bitcoin tax, they are against the law.

It's fair, IMO

[MFahad]

If I make money on crypto currencies. How do I avoid as much tax as possible?

First of all why do we think in negative directions and why we need to save our money by violating the government laws.  Government has made the rules for the benefit of the community and country and we should follow it.
If you make money and your government has certain tax slabs you should pay it , rather than to avoid them.

[aardvark15]

If I make money on crypto currencies. How do I avoid as much tax as possible?

I’m not familiar with tax laws outside of the United States, but in the US, if you hold your investment for over a year, you will pay long term capital gains rather than short term. This means your taxes will probably be lower if you hold for over a year. Day trading is going to be all short term capital gains and a paperwork headache. I’ve decided to do fewer trades than I did in the past for this reason.

[Carlsen]

The most important thing about crypto currencies what we can all do is to keep it legal.
There is already enough bad publicity in the media, I don't think the average user should start doing things on the boarder of legality with it.

The way how bitcoins are taxed differ in many countries. If it's not really clear, ask a local tax consultant.

[VitKoyn]

If I make money on crypto currencies. How do I avoid as much tax as possible?

Does your country have tax law/regulation for cryptocurrency? if your country don't have, you don't have to worry about that until they announce that they will. If yes, and you don't want your cryptocurrency gains to be taxed, there are few ways to avoid being taxed but I think it will give you some difficulties. You can look for a direct buyer of your cryptocurrencies peer to peer trade, there are risk of doing this so you still need and pay an escrow to avoid being scammed. Another way is transfer to a country that has no regulation about cryptocurrency and use their local exchange to convert it to fiat. But it is not advisable to do this, just pay your tax if needed.

[udivkx]

To do this, try not to use the exchangers exchanged by the state for buying and selling - they are taxed. Use private exchangers, limited liability.

[noormcs5]

If I make money on crypto currencies. How do I avoid as much tax as possible?

I’m not familiar with tax laws outside of the United States, but in the US, if you hold your investment for over a year, you will pay long term capital gains rather than short term. This means your taxes will probably be lower if you hold for over a year. Day trading is going to be all short term capital gains and a paperwork headache. I’ve decided to do fewer trades than I did in the past for this reason.

I think every country has tax laws on the certain amount earned by the individuals but the taxable amount and actual amount of taxes varies. People trying to find ways to avoid taxes make government make more strict rules. Whether you earn money from day trading or any other method, the amount which you will withdraw in local fiat will be taxable.

If I make money on crypto currencies. How do I avoid as much tax as possible?

First of all why do we think in negative directions and why we need to save our money by violating the government laws.  Government has made the rules for the benefit of the community and country and we should follow it.
If you make money and your government has certain tax slabs you should pay it , rather than to avoid them.

How good the world would become if everyone pay their taxes honestly but unfortunatly we always look for things which are benefit to ourself and not care about the others.

[mobnepal]

If I make money on crypto currencies. How do I avoid as much tax as possible?

If you are not making huge amount than you can sell your crypto for some local guy so that your government will have no record of your btc transaction and you are not liable for tax. But if you are making good amount of money than its better to pay tax and remain safe from any legal trouble in future.

I will happily pay taxes if our government will ever take it by opening doors to legal local bitcoin trading platform. 

[spngebob]

If I make money on crypto currencies. How do I avoid as much tax as possible?

Buy stuff with bitcoin if you don't have to pay tax for bitcoin transactions(not sure in which countries you have to pay tax for this, do research for your country)
When exchanging bitcoins to your local currency I will suggest you to pay tax, you will get into trouble if you don't pay it. Don't act like child.

[hitrawal91]

If I make money on crypto currencies. How do I avoid as much tax as possible?

Right now Bitcoin doesn't come under any currency or it cannot be controlled by any Authority or government in any country because it has not been made legal in many countries and that's the reason it is decentralized. But if you are holding the bitcoins in the form of assets for long-term investing or if you are trading the bitcoins for short-term profits then you are getting the capital gains which indirectly means it is the source of income for you and you have to pay a certain amount of tax on the capital gains according to your normal tax slab rate in your country.

If you are from Indian Country then you can make a note of this  TWO ARTICLE LINKED BELOW, where everything is clearly explained in detail.


http://www.businesstoday.in/money/tax/bitcoin-gains-tax-cryptocurrency-income-from-other-sources-capital-gains-short-term-gains-income-tax-returns/story/263434.html

https://timesofindia.indiatimes.com/business/india-business/bitcoin-sale-profit-is-taxable-capital-gains-for-investor/articleshow/58691027.cms

[1NV3ST0NM3]

If I make money on crypto currencies. How do I avoid as much tax as possible?

Bitcoin currently is taxed only by the South Korean govt. at a rate of around 23%. But tax can be collected merely on amount which you withdraw in exchanges. So the simple rule to save tax on all your crypto earnings is to store the bitcoins in a private key wallet where you don't need to do any KYC compliance. So you are anonymous just with your wallet address. But the problem is that you won't be able to get a fiat conversion of your bitcoins until you bring them to exchanges.

[The BlockRx Project]

You might still have to pay tax but this is one method to alleviate |

Setup self-directed Bitcoin IRA
setup LLC
setup bank account with said LLC
buy bitcoin
!HODL!

[Haiduongbg]

Never convert to fiat not so tax events triggered  . Just kidding, move to the countries with lax regulations on crypto is the best solution.

[RamonBTC]

If your living in your own country and badly need tax to survive or not run by corrupt officials then don’t do it “pay your taxes” because this is morally wrong in the eyes of anyone even our co-bitcoiners if you don’t. But if the opposite of all what I mention is the kind of government your in then use any means to avoid taxing through anonymity and mixing addresses and using deceased identity. This is an option only if your public officials use your taxes for self interest.

[matuson]

Never convert to fiat not so tax events triggered  . Just kidding, move to the countries with lax regulations on crypto is the best solution.

Such countries do not exist. All countries of the world take taxes. You can choose to live in country with a low level of taxation. But getting citizenship is always a problem. There's only one way not to pay taxes. It is collect coins and wait when it will be possible to use them as currency. Any exchange of cryptocurrency for Fiat money is tracked by the banks. You will be required to pay the tax.

[Hamphser]

If I make money on crypto currencies. How do I avoid as much tax as possible?

You can actually avoid tax when it comes to your earning here on cryptocurrency world since its an anonymous thing which tracing out earnings on each individual is not possible and this is one of the reason why government do hate it soo much but these kind of mindset isnt really tolerable on avoiding taxes because if we do think on carefully on whats the actual purpose of tax on our country then we would really able to realize that it is really still an obligation for us to pay taxes.