NScryps (OP)
Newbie
 Offline
Activity: 42
Merit: 0
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February 28, 2018, 02:44:13 PM |
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Hi.
i didn't traded so much of my crypto for FIAT so i didn't dealt with that question yet.
however i think it's an issue need to be dealt with.
1. do you use accounting services?
2.if so, do you keep documentation of all traded or bought coins?
3. what do you do in cases of profit from ICO's
WHAT SHOULD I DO??
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"You Asked For Change, We Gave You Coins" -- casascius
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Crypto_Day_day
Newbie
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Activity: 27
Merit: 0
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February 28, 2018, 03:08:08 PM |
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As long we are talking about small amounts i don't think it's a problem....
if you have big amounts to convert i think you consult a accountant.
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pharaon
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February 28, 2018, 03:16:39 PM |
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Hi.
i didn't traded so much of my crypto for FIAT so i didn't dealt with that question yet.
however i think it's an issue need to be dealt with.
1. do you use accounting services?
2.if so, do you keep documentation of all traded or bought coins?
3. what do you do in cases of profit from ICO's
WHAT SHOULD I DO??
Everything depends on the country in which you live, and how in this country belong to the crypto-currencies. Specify the country, you can be prompted by users who have encountered this. |
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TooDumbForBitcoin
Legendary
Offline
Activity: 1638
Merit: 1001
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February 28, 2018, 03:19:52 PM |
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As long we are talking about small amounts i don't think it's a problem....
if you have big amounts to convert i think you consult a accountant.
Yep! You must search the answers outside internet, find the financial expert if you want to do things in well |
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btc78
Full Member
Offline
Activity: 2492
Merit: 212
Eloncoin.org - Mars, here we come!
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February 28, 2018, 03:24:59 PM |
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Hi.
i didn't traded so much of my crypto for FIAT so i didn't dealt with that question yet.
however i think it's an issue need to be dealt with.
1. do you use accounting services?
2.if so, do you keep documentation of all traded or bought coins?
3. what do you do in cases of profit from ICO's
WHAT SHOULD I DO??
this is the problem if you dont know about the policy of your country on a certain thing,cryptcurrency now is being followed by government becauseof tax issues and the decentralization.before you deal about profiteering here in crypto you must learn first the rules of your country about this forum.and th need no consultant but only internet is enough to answer your questions |
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OluwaTosin10
Jr. Member
Offline
Activity: 546
Merit: 4
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February 28, 2018, 03:27:37 PM |
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Actually i believe tax is for everyone who works and earn wages or salary, and taxes are for business people as well.
But in the world of crypto, you don't earn wages or salary , you earn profits, profits for your hardwork in participating in bounties, buying from icos
It depends on you
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lobo13hf
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February 28, 2018, 03:28:45 PM |
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Hi.
i didn't traded so much of my crypto for FIAT so i didn't dealt with that question yet.
however i think it's an issue need to be dealt with.
1. do you use accounting services?
2.if so, do you keep documentation of all traded or bought coins?
3. what do you do in cases of profit from ICO's
WHAT SHOULD I DO??
1 I don't use accounting service. Why do i need to use accounting service for just a little thing like this? 2 I think that you will be seeing your trade history in the exchange site and that will be written by the bot. It looks like your trading activity will always be monitored in the exchange site. That just like you have kept your documentation in the exchange site. 3 I will try to pay the tax if that will be applied in my country but my country is still not considering to give a tax to the traders. |
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LodisMcguire
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February 28, 2018, 03:36:09 PM |
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No,i don't,because it's not a complicated transaction.You only do the basic in trading,buy low sell high,which is why you don't need accounting service to do it for you.In case you got big profit,all the transaction is recorded in blockchain,so you can just check your transaction history and do the math,profit minus tax,so you can cash out your money efficiently.
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rayk
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February 28, 2018, 03:45:27 PM |
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No, who pays tax for crypto? Even in usa people using coinbase were not paying any taxes, that might be better now. Tracking all the transactions is hard.
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ðºÞæ
Sr. Member
Offline
Activity: 1176
Merit: 297
Bitcoin © Maximalist
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February 28, 2018, 03:47:20 PM |
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Depends on country?
profit form trading or profit form gains?
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"The existing Visa credit card network processes about 15 million Internet purchases per day worldwide. Bitcoin can already scale much larger than that with existing hardware for a fraction of the cost. It never really hits a scale ceiling." Satoshi Nakamoto, April 2009 Avoiding taxes is totally legal if you consider and respect the law.
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Token_King
Member
Offline
Activity: 61
Merit: 17
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February 28, 2018, 03:47:55 PM |
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Hey buddy
I am still new in crypto and I dont Have enough ideas
Sorry
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enjotan
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February 28, 2018, 03:57:12 PM |
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what you have to do, find and spend some time to gain knowledge and understanding of crypto, before you get involved. the most important you seek first experience. then you can speculate after having a knowledge base.
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drogas
Newbie
Offline
Activity: 168
Merit: 0
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February 28, 2018, 04:01:11 PM |
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As long we are talking about small amounts i don't think it's a problem....
if you have big amounts to convert i think you consult a accountant.
And also it's different for each country/state. So you really need to do your research. |
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george_hured
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February 28, 2018, 04:02:24 PM |
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Well, if you have such questions, then you are on the right track. In fact, there is no standard information, someone writes down their profit in a notebook, someone uses the Excell table, so choose you.
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Profuter
Member
Offline
Activity: 210
Merit: 10
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February 28, 2018, 04:10:20 PM |
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I think you should not worry about it. As far as I know there are no clear laws that obligate to pay taxes on this activity.
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babu456
Newbie
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Activity: 24
Merit: 0
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February 28, 2018, 04:45:04 PM |
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MarineCoin MTC is the Upcoming ICO.Currently they have airdrop program for their members.The airdrop can reward 450000 MTC Coin.Easy procedure needed for getting airdrop.Hurry up because the airdrop is limited for 20000 people.Join this Site-https://marineco.in/
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Kakabawa19471947
Newbie
Offline
Activity: 39
Merit: 0
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February 28, 2018, 04:47:21 PM |
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where im based there are no taxes on income, so to answer your question no i dont
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lolchina
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February 28, 2018, 05:03:42 PM |
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It all depends from what country you are,for example i am coming from shity country where is no law so i dont really need to pay anything,not to mention that in shity countries tax service dont really know what crypto is.Also i sell most of my crypto face to face so this way no1 really knows whats my profit since there is no bank trail
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AlienWithBTC
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February 28, 2018, 05:04:47 PM |
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Hi.
i didn't traded so much of my crypto for FIAT so i didn't dealt with that question yet.
however i think it's an issue need to be dealt with.
1. do you use accounting services?
2.if so, do you keep documentation of all traded or bought coins?
3. what do you do in cases of profit from ICO's
WHAT SHOULD I DO??
As long as you HODL your cryptos or use them as a payment method there should be nothing to worry about for now |
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hiwainmoto
Member
Offline
Activity: 182
Merit: 10
Unibright Token Launch - 10th April 2018
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February 28, 2018, 05:10:31 PM |
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If you are from the U.S or any country that has some tax regulations about cryptocurrencies you should follow the regulation or else you will have some problem.I am living to non-us country that is why i am not paying any taxes,there are no such regulations about cryptocurrencies in our country that is why i am one of those lucky people in the world.
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