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Author Topic: How do I avoid tax on crypto  (Read 18644 times)
galaxing
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February 26, 2018, 01:30:55 PM
 #81

If I make money on crypto currencies. How do I avoid as much tax as possible?
only people who have no great responsibility ,, if escaped from reality, avoid taxes is the wrong person.
But right now, we will not pay taxes, because the government has not cooperated with bitcoin.
crypto, is digital money ,, it makes sense if there should be taxes.
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February 27, 2018, 01:42:22 AM
 #82

Actually , you dont. You cannot escape government and their rules. The best you can do is not declare your profit to avoid getting taxed but i think you know the consequences. Taxes went to different government projects so for me thats okay. On the other hand, some government officials takes an advantage to this system but this will not the reason to blame them all.


Exactly. We citizens are powerless when governments try to interfere anything and all we could do is to follow. But I think we can still demand fair taxing system in case they became unreasonable on their decisions.
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February 27, 2018, 09:27:02 AM
 #83

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.
Partly yes because citizens in a certain countries has an obligation to pay taxes from earning to the government for the community and for us to receive benefits especially when we got old. But what if you belong im a country where government doesn't really care for the welfare of their countrymen? And the taxes that they collected from the people who strive to work hard to feed his/her family goes directly to their own pocket? Is it really worth it to be honest in paying taxes by declaring all you assets?
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February 27, 2018, 11:44:48 AM
 #84

But I think we can still demand fair taxing system in case they became unreasonable on their decisions.
Lol, the tax system has been unfair for decades, and you think we have even a slight chance of changing that? If there is one thing that we have seen become reality, then it's the fact that the tax rates have only increased.

In no shape or form will people be able to demand anything from the government. Instead, it's the government that demands us to abide by all their ridiculous tax rates, which should be clear by now.

The only thing we are good for, is being used as cash cow for the government, and in case we're trying to avoid being a cash cow, the government will come after you and milk the money out of you, that's how it goes.

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February 27, 2018, 03:24:19 PM
 #85

But I think we can still demand fair taxing system in case they became unreasonable on their decisions.
Lol, the tax system has been unfair for decades, and you think we have even a slight chance of changing that? If there is one thing that we have seen become reality, then it's the fact that the tax rates have only increased.

In no shape or form will people be able to demand anything from the government. Instead, it's the government that demands us to abide by all their ridiculous tax rates, which should be clear by now.

The only thing we are good for, is being used as cash cow for the government, and in case we're trying to avoid being a cash cow, the government will come after you and milk the money out of you, that's how it goes.
Yes, I admit that it is really an unfair system but what can we do about it? There is nothing wrong about tax, those government officials imposing tax system which creates more burden to people are the ones really making us more poor and they are all benefiting on it which makes us sick.
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February 27, 2018, 06:11:33 PM
 #86

If you want to play fair just pay the tax , even if you pay tax probably you will be still in profit. But if you really don't wanna pay tax , try sell bitcoin on street. Find on your local forum someone who want to buy bitcoin and you meet him in coffee shop , he give you money and you send him bitcoin. That is how I did once.
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February 27, 2018, 09:36:36 PM
 #87

But I think we can still demand fair taxing system in case they became unreasonable on their decisions.
Lol, the tax system has been unfair for decades, and you think we have even a slight chance of changing that? If there is one thing that we have seen become reality, then it's the fact that the tax rates have only increased.

In no shape or form will people be able to demand anything from the government. Instead, it's the government that demands us to abide by all their ridiculous tax rates, which should be clear by now.

The only thing we are good for, is being used as cash cow for the government, and in case we're trying to avoid being a cash cow, the government will come after you and milk the money out of you, that's how it goes.
Yes, I admit that it is really an unfair system but what can we do about it? There is nothing wrong about tax, those government officials imposing tax system which creates more burden to people are the ones really making us more poor and they are all benefiting on it which makes us sick.

You can start speaking against it. It's already a beginning.

In my country things reached too far until people started seeing how harmful is to be a pacific sheep being guided by wolves directly to the slaughtery. People accepted more and more taxes without resistance and without quality services being offered for too long. And now it's ridiculous to see a country with one of the biggest tax burden of the world broken!

Once people acquire conscience about what is happening on their own countries and start speaking out about it, things will start improving.

 
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February 27, 2018, 09:56:07 PM
 #88

But I think we can still demand fair taxing system in case they became unreasonable on their decisions.
Lol, the tax system has been unfair for decades, and you think we have even a slight chance of changing that? If there is one thing that we have seen become reality, then it's the fact that the tax rates have only increased.

In no shape or form will people be able to demand anything from the government. Instead, it's the government that demands us to abide by all their ridiculous tax rates, which should be clear by now.

The only thing we are good for, is being used as cash cow for the government, and in case we're trying to avoid being a cash cow, the government will come after you and milk the money out of you, that's how it goes.
Yes, I admit that it is really an unfair system but what can we do about it? There is nothing wrong about tax, those government officials imposing tax system which creates more burden to people are the ones really making us more poor and they are all benefiting on it which makes us sick.

You can start speaking against it. It's already a beginning.

In my country things reached too far until people started seeing how harmful is to be a pacific sheep being guided by wolves directly to the slaughtery. People accepted more and more taxes without resistance and without quality services being offered for too long. And now it's ridiculous to see a country with one of the biggest tax burden of the world broken!

Once people acquire conscience about what is happening on their own countries and start speaking out about it, things will start improving.
The question is if they do have the conscience?If they do have that thing then lucky for a certain country because possibilities of development or changes is still there but how about countries just like mine which it is being known to be one of the most corrupt countries even up to this date?I don't see any hope on such changes on my lifetime.This is why sometimes I do think paying up taxes is really useless at all.

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February 27, 2018, 10:12:40 PM
 #89

Exactly. We citizens are powerless when governments try to interfere anything and all we could do is to follow. But I think we can still demand fair taxing system in case they became unreasonable on their decisions.
How could someone powerless demand to the government when it comes to taxation? Just pay off your taxes and you will be flee from those interference.
Tax is the blood of the government and every single citizen that has a source of living needs to pay off unless he's exempted.
Just pay taxes and declare how much you've earned so you won't think crazily on how to avoid it.

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February 27, 2018, 10:36:11 PM
 #90

But I think we can still demand fair taxing system in case they became unreasonable on their decisions.
Lol, the tax system has been unfair for decades, and you think we have even a slight chance of changing that? If there is one thing that we have seen become reality, then it's the fact that the tax rates have only increased.

In no shape or form will people be able to demand anything from the government. Instead, it's the government that demands us to abide by all their ridiculous tax rates, which should be clear by now.

The only thing we are good for, is being used as cash cow for the government, and in case we're trying to avoid being a cash cow, the government will come after you and milk the money out of you, that's how it goes.
Yes, I admit that it is really an unfair system but what can we do about it? There is nothing wrong about tax, those government officials imposing tax system which creates more burden to people are the ones really making us more poor and they are all benefiting on it which makes us sick.

You can start speaking against it. It's already a beginning.

In my country things reached too far until people started seeing how harmful is to be a pacific sheep being guided by wolves directly to the slaughtery. People accepted more and more taxes without resistance and without quality services being offered for too long. And now it's ridiculous to see a country with one of the biggest tax burden of the world broken!

Once people acquire conscience about what is happening on their own countries and start speaking out about it, things will start improving.
The question is if they do have the conscience?If they do have that thing then lucky for a certain country because possibilities of development or changes is still there but how about countries just like mine which it is being known to be one of the most corrupt countries even up to this date?I don't see any hope on such changes on my lifetime.This is why sometimes I do think paying up taxes is really useless at all.

It's indeed worthless and that is the conscience people here are acquiring. Now they are seeing the abuse the local government is committing since a long time ago and how useless are the taxes as there aren't decent services in return and all we see is mockery and corruption. It's a slow process, but at least it's happening.

I'm not saying people want to live in an anarchy, without paying anything, but they want to pay less, because as it is now it's abusive and when we talk about Crypto-Currency it makes no sense to pay taxes for this... On the other hand, there are always these people who just want to frighten those who are unsatisfied and seeking for changes, saying: Nothing can be done, you will be arrested, it won't end good for you...

But no one is saying about violate the rules, but to change them to make it fair for all parts.

About corrupt countries, it's indeed very frustrating to not be in sintony with our countrymen. Sometimes seems we are swimming against the tide and that nothing will happen as most people are alienated and following previous patterns that just make the system's maintenance. But it's important to always keep some hope inside our hearts, because without hope we become bitter and it just bring negative effects over us along the time...

 
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February 28, 2018, 04:43:48 AM
 #91

If I make money on crypto currencies. How do I avoid as much tax as possible?
It would be better for you not to avoid paying tax if you are making money out bitcoin because it will cause much trouble. Tax is required and its in the law no matter how we say that bitcoin is decentralize and it was created because of the financial issues we are facing still we have to obey the law.
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February 28, 2018, 05:30:27 AM
 #92

If I make money on crypto currencies. How do I avoid as much tax as possible?
Sounds like you are belong in a country right now where the government was legalized the cryptocurrency to circulate it in your place. That is why you do not have a choice to keep yourself away from that system and so you should obey the rules, and I think you should be thankful because your country legalize Cryptos this will helps you and the others for your legal protection purposes unlike the others which never have an experience because their government banned the cryptocurrency.
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February 28, 2018, 05:49:34 AM
 #93

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

If your government did not legalize bitcoin than you're lucky enough because you can earn bitcoin without paying the tax.

But if your government legalize bitcoin already than you must to pay and can't evade. Just take a look on positive side, if government legalize bitcoin, it means that bitcoin's demand increase !
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February 28, 2018, 05:32:09 PM
 #94

my country is not taxed on crypto money.but I think it will come to tax.then I have to make a lot of money until then..
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February 28, 2018, 05:45:31 PM
Last edit: March 01, 2018, 01:56:06 AM by ecnalubma
 #95

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.  Wink
Crypto is not a currency but i believe and its more of a commodity that needs to be regulated. It sucks when the government will taxed everything but as a citizens we must know our obligations and what is our role in the society. Lets not forget to help our government to grow, because if we hate taxes it can be a hindrance of our crypto growth.
Hamphser
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February 28, 2018, 08:08:28 PM
 #96

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.  Wink
Crypto is not a currency but i believe and its more of a commodity that needs to be regulated. It sucks when the government will taxed everything but as a cictizens we must know our obligations and what is our role in the society. Lets not forget to help our government to grow, because if we hate taxes it can be a hindrance of our crypto growth.
Its always been normal in my mind when it comes for governments involvement when it comes to taxation matters which they do really engage with such thing as long they can able to sip out percentage of the total income of a particular citizen.Its really an obligation for its citizens to pay up taxes and its really a senseless thing to do on avoiding it yet we do all know on how important the role of taxes we do contribute on.

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xPPx
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March 02, 2018, 10:33:19 PM
 #97

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

You can gift up to $15,000/year in the US taxfree.
ocid
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March 03, 2018, 03:27:16 AM
 #98

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.  Wink
Crypto is not a currency but i believe and its more of a commodity that needs to be regulated. It sucks when the government will taxed everything but as a cictizens we must know our obligations and what is our role in the society. Lets not forget to help our government to grow, because if we hate taxes it can be a hindrance of our crypto growth.
Its always been normal in my mind when it comes for governments involvement when it comes to taxation matters which they do really engage with such thing as long they can able to sip out percentage of the total income of a particular citizen.Its really an obligation for its citizens to pay up taxes and its really a senseless thing to do on avoiding it yet we do all know on how important the role of taxes we do contribute on.
The tax of every country is very important for people's lives to be better and prosperous, because paying taxes is the right and duty of every citizen for the development and growth of the country. but most countries still can not formalize the existence of crypto, so taxation on crypto is not fully regulated by the government. It may be that at this time only certain countries may set tax payment policies for people who use crypto, over time, if all crypto users can use blockchain technology for positive purposes, it is likely that the country will fully control the digital currency and the crypto tax will be set by each country.
if it happens we should not avoid it because the taxes of each country aim for the development of existing infrastructure, we must support the existence of government policy.
helen28
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March 03, 2018, 03:16:22 PM
 #99

We can actually avoid tax easily especially when our country does not regulate tax yet or has imposed tax, we can easily do it actually so nothing to worry about avoiding it unless you are in Korea, Japan, USA where they have strict implementation when it comes to  paying taxes.
ahmad21
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March 03, 2018, 06:00:00 PM
 #100

If I make money on crypto currencies. How do I avoid as much tax as possible?
One simple way you can reduce your tax liability as much as possible is by declaring income as less as possible. The less amount of income you will declare less will be the tax. You can do this by not bringing in your funds on places where you have complied in with KYC requirements. Moreover what you can do is make most of your expenses payment directly using cryptocurrencies which too will make tax burden less. Rest depends upon the laws prevalent in your area.
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