do you guys pay Taxes for profit?

[BillyBobZorton]

It's insanely difficult to keep track of all your trades, all your transactions, all of the coins you get that you don't even know you own (for example, im sure you and anyone that owns bitcoin, owns bitcoin forks which the person doesn't even know he owns).

There's also the problem of loss of trading history, dead exchanges, and like I said random forks. Signature campaign income is also hard to keep track.

If anyone has reported signature campaign income and other similar bitcoin related income please let us know, a lot of us are too paranoid to report these gains because we don't know what to expect.

[herecomesjohnny]

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

The real problem behind your question lies in the low knowledge of a big percent of institutions in different countries that are appointed with the solving and managing the tax system. Financial experts, although they are not free, can be a great asset in a retrieving and convert the hard-earned crypto. Taxes are not avoidable and sooner or later if they are avoided you can be caught. There are solutions of retrieving the crypto without the tax system involved but that can be compared to the money laundry. If you have a big amount of convert financial accountant is needed solution for your transaction!

[BUK2016]

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??

Payment of tax for crypto currency related activities depends on the particular country or region you live as to whether crypto currency is accepted as a legal tender. In my case, I never pay tax on any of my crypto currency business activities maybe those who leaves in US etc should be able to tell you more of your enquiry. 

[cryptobuer]

In bounty, tax is not expected considering  it is calculated wiring on effort put in, pursuit rules  and instruction. so its all well-nigh buying, selling and investing. Although country varies any transaction vamp tax. 

[xireKT]

Here in Brazil, afaik, I'll only have to pay taxes once I convert my cryptos to fiat currency. I'll have to pay 15% in taxes based on the profit I've made on an investment greater than R$25k.

I haven't converted any currency to fiat but I think it's not such a hard process, well at least not here in Brazil.. As long as my investment isn't greater than R$25k (not 100% sure on this but it might either be initial investment value or value of total profit, can't recall atm), I shouldn't have to pay taxes from my profits...

[ETHtotheMOON1]

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??

yes it's much better to pay profit now rather then getting the notice from authority later when the funds are already used elsewhere. I believe regulation in crypto is a good thing

[princesocapuyo]

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??

No, i don't use accounting service
No, i don't document every trade or bought transactions as there are really too much
After selling to fiat, i always donate out 5-10% of my money to charity to help the world.
I believe when they got their aid or help, they become wiser and they will soon touch blockchain, this makes world a bigger and better place

This sounds like a good plan. Donating is better than paying taxes I guess. Government rarely do anything good for us anyway.

[TheAndy500]

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??

No, i don't use accounting service
No, i don't document every trade or bought transactions as there are really too much
After selling to fiat, i always donate out 5-10% of my money to charity to help the world.
I believe when they got their aid or help, they become wiser and they will soon touch blockchain, this makes world a bigger and better place

This sounds like a good plan. Donating is better than paying taxes I guess. Government rarely do anything good for us anyway.

Yes, giving is a good idea. But even if the law does not regulate it, you probably have to pay capital gains tax.

[peleng]

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??

Yes, to be honest with ourselves, we need to pay taxes. Personally, I still have a very tiny income, so I also did not carefully study this issue. 

[jackolinyoko]

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??

Not necessary to have account services,the documentation will only need if you have cashed out your cryptocurrencies into fiat,conversion should be all documented so that there will be no problem with your taxes,you can choose to pay tax or you can choose to sell your bitcoins into some people who are willing to pay cash.,

[DemLom]

Maybe this is not correct, but when selling, I do not save any documents. I try to just mcclimally protect my purse from hacking and everything ...

[pearlsome]

In my country withdraw money from the exchange (national) legally is not possible. They come as a enumeration from a natural person. I asked the question "Is it possible to withdraw money from the exchange to a legal person?" Since I am a payer of taxes as a legal person. So I could pay tax on income and it would be legal money. However, the answer from the stock exchange and from my accountant was "Definitely not." Now there is no legal basis for this. I hope that soon everything will change.

[Vaflia]

I do not pay income taxes, because in my country's legislation there is no concept of "cryptocurrency" 

[Victor Beckham]

I see no reason to keep track of your tradings. The most important is the money invested and the money withdrawn. The difference is taxable. That it is.

[cryptamod]

You should follow the regulation in your country so wont have any problems in the future,U.S citizens are required to pass their taxes but if your country doesnt require to pay taxes just like in my country where there are no regulations yet,we are freely to get our money without paying taxes,but eventually if  my country requires it i will pay so there will be no problems in my part.

[MaleKing]

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??

It depends a lot in which country you find yourself into. For example as an US citizen you might need to seriously think about paying taxes. Unless the money were made from Bounty Campaigns. In this case you have good chances to stay untracked.
On the other hand, if you are from another country, you don't have to pay any taxes.
Most (almost all) of the countries don't have any reglementations regarding crypto.

[bulbolitobayagyag]

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??

It is depends on the country you are living,if your government has regulated the cryptocurrencies you should follow such regulations so that you wont have any problem in the future,tax evasion is not a good idea because these people will find their way to track your records,if you arent living inside U.S like our country there will be no taxes.

[barlo357]

No I don't pay taxes because this is not a salary or wages like company and I think this is different to profit, And here in crypto world if you hacked no one to blame only you but in company who give you salary and wages they protect you and you can blame them if your salary lost. So why should I pay taxes if they can not protect me.

[GeorgeEden]

I think.im not sure but it depends on where you live and if im right theres no chance to taxe you from making money on internter i mean online with those trades.its all about trading. so..i guess no you dont need to pay.

[cryptomema]

You should follow your country's regulations so you wont have any problem,paying taxes are good when you are earning a lot of money monthly,but if you are not from a regulated country that would be better because you can spent your cryptocurrency money without paying a lot of taxes,cryptocurrencies are decentralized so i believe that it should stay the same as is.