NYC/Taxes

[lasttimei]

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 .

[1715622603]

1715622603

[1715622603]

1715622603

[Crypto Id]

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.

[KrishaBitcoin]

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.

[Wheelige]

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?

[marielbeckham]

I'd better avoid any attempts concerning tax evasion at any rate.

[MoskowSity]

I'd better avoid any attempts concerning tax evasion at any rate.

actuality?

[sindikat]

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.

This is stupid. You can not open an account in a Bank in Germany if you are not a citizen of this country. The same conditions in other countries. If coinbase supports withdrawals to your account in the Dominican Republic then I think you don't have a complete ban on the use of cryptocurrencies. I could be wrong Taxes you take not the exchange and the state. For this reason, the same situation will be on other exchanges.

[Bharat24]

Tax evasion is very serious matter, government is controlling everything. The 1 Rd is pretty active in training people transactions. So you are must pay your tax accordingly in time.

[Proton2233]

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 .

The problem is that no one can give you a guarantee that the exchange does not cooperate with your government. You never know how the exchange manages your personal data. In addition to this, I will say that when you make Fiat withdrawals to a Bank account or Bank card from any exchange, your account information becomes available to the tax authorities.

[jseverson]

I see this is from a while ago, but since it's gotten bumped anyway: I just want to add that even if you do get a friend from the Dominican Republic to withdraw money for you, it'll still be subject to taxes upon transfer to you. In the end, it may be better overall to simply pay your taxes. If you're based in the US then you only have to pay taxes on your Bitcoin-generated profit anyway, not for the entire 2k withdrawal.