minerpart
Sr. Member
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Activity: 280
Merit: 250
IIIIII====II====IIIIII
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April 02, 2014, 11:18:35 PM |
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That could be an expensive gamble to take? Mining in a datacentre in the US - I think the IRS would claim they are due their share and a year down the road we could be hit with a big tax bill?
Is there precedent for off-shore registered but domestically trading companies successfully avoiding tax in the US?
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Phildo
Legendary
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Activity: 1526
Merit: 1000
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April 02, 2014, 11:37:20 PM |
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That could be an expensive gamble to take? Mining in a datacentre in the US - I think the IRS would claim they are due their share and a year down the road we could be hit with a big tax bill?
Is there precedent for off-shore registered but domestically trading companies successfully avoiding tax in the US?
in general, the US wants taxes on everything. I would definitely talk to a professional to find out about your particular situation, maybe this international stuff will help, maybe it won't. Hopefully the dividends from the company can get taxed like regular dividends (if at all) because the accounting for buying and selling coins will be a giant pain in the ass. |
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knybe
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April 02, 2014, 11:50:40 PM |
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Are we expecting any more updates from Ken today? or are we all caught up?
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Flashman
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April 02, 2014, 11:54:21 PM |
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Even located in Canada, mining a european pool and registered in Belize, the IRS might want taxes because Ken is US citizen.
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TL;DR See Spot run. Run Spot run. .... .... Freelance interweb comedian, for teh lulz >>> 1MqAAR4XkJWfDt367hVTv5SstPZ54Fwse6
Bitcoin Custodian: Keeping BTC away from weak heads since Feb '13, adopter of homeless bitcoins. |
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JoTheKhan
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April 02, 2014, 11:59:33 PM |
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Even located in Canada, mining a european pool and registered in Belize, the IRS might want taxes because Ken is US citizen.
We should be getting an update sometime in the next 2 or 3 hours. Good news doesn't negate bad news or cancel agreements/promises that were discussed earlier. (Wednesday Updates/Financial Report which was due two days ago/Update on MSD/Shares/28nm). The MSD/Shares/28nm should be updated weekly until we have access to our shares, MSD investigation is done, and we have a tangible 28nm product produced by AMC/VMC or we have dropped the 28nm project and in that case we should be privy to the general game plan for the next 6 months or longer after the 28nm project is dropped. |
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klondike_bar
Legendary
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Activity: 2128
Merit: 1005
ASIC Wannabe
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April 03, 2014, 12:32:46 AM |
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Even located in Canada, mining a european pool and registered in Belize, the IRS might want taxes because Ken is US citizen.
+1. The company would probably not be taxed for mining if mined outside USA, but selling Bitcoins/miners, and even ken's personal income would all be subject to taxes since they take place in the USA. (You can register the company in belize, but if ken is answering questions and accepting orders while in the states he will surely be subjected to the relevant taxes - otherwise every unscrupulous company would base themselves in a low-tax country like belize |
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kslaughter
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April 03, 2014, 12:34:17 AM |
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Weekly Update 4/2/2014
Pre-Order Customers:
We are offering 20% off the price of our Prospector card for our Pre-Order customers. We will apply your pre-order payment to your total Prospector card order. You will need to use this voucher code URZSZLUF and have a valid pre-order with us. Should your pre-order amount not cover the total on your order you will need to pay the difference. If there is a balance left we will issue you a voucher for a future purchase. When ordering as a pre-order customer you will need to add the Order ID of the pre-order you want transferred in the comment section of the order.
Datacenter:
The datacenter should be coming on line this week, barring any unforeseen problems. We will be bring up 1 rack at a time. We will have 4 racks in this phase with ~60 TH/s coming on line. We will be adding additional step-down transformers to bring the total up to 100 TH/s after we get the first phase running. The next phase will be to bring the datacenter up to 200 TH/s after the first month of running the first phase.
MSD Investigation:
We are continuing to work with the MSD through our lawyer to bring this to a conclusion is the shortest amount of time as possible.
Sells:
We have shipped our first miners and they have been delivered. We are continuing to get orders and we are continuing to ship miners.
Shares:
Next week I will start transferring shares to CT so our investors can start trading.
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shaofis
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Activity: 106
Merit: 10
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April 03, 2014, 12:42:32 AM |
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Shares:
Next week I will start transferring shares to CT so our investors can start trading.
Awesome news all around! |
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Usman056
Newbie
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Activity: 49
Merit: 0
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April 03, 2014, 12:42:57 AM |
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Weekly Update 4/2/2014
Shares:
Next week I will start transferring shares to CT so our investors can start trading.
Sounds familiar... |
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drasted
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April 03, 2014, 12:45:21 AM |
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Shares:
Next week I will start transferring shares to CT so our investors can start trading.
I've heard this before... Can we at least start verifying our shares now? Why wait till next week? You've mentioned before that your verification website is done, so why wait? |
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kslaughter
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April 03, 2014, 12:49:22 AM |
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Shares:
Next week I will start transferring shares to CT so our investors can start trading.
I've heard this before... Can we at least start verifying our shares now? Why wait till next week? You've mentioned before that your verification website is done, so why wait? Because, I am out west bring up our datacenter. |
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elmwar
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Activity: 33
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April 03, 2014, 12:49:52 AM |
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Thank you for the update. Good news and more detail than normal.
I'm very happy to hear we'll have control over our shares once again!
However, we are still waiting on 2013 financials.
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hobbymd
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April 03, 2014, 12:57:36 AM |
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ken could you please update the shareholders of any progress on Actm custom chip? thanks
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snowdropfore
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April 03, 2014, 01:11:54 AM |
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so glad that we can trade our shares, anyone want to out can sell there shares asap. but i am afraid the buy orders at CT can not afford the large sells..
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Ozymandias2
Member
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Activity: 98
Merit: 10
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April 03, 2014, 01:21:03 AM |
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so glad that we can trade our shares, anyone want to out can sell there shares asap. but i am afraid the buy orders at CT can not afford the large sells..
It's fine. The market will react the way it must. There will be some intense shocks the first few weeks as all of the pent up forces will be released. Soon after the price will 'stabilize' by which I mean will be mostly influenced by news. Great update by the way Ken! If you can also get that financial report out soon you will have knocked it out of the park! |
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JoTheKhan
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April 03, 2014, 01:21:08 AM |
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Shares. Yay. Lets hope this goes smoothly so people who want out can get out and people who want deeper in can get in. This should be interesting. I expect prices to hold above .0003, good news seems to cloud people's vision and cause them to think emotionally.
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int3ractivodular
Sr. Member
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Activity: 280
Merit: 250
TECHNOLOGY, BABY!
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April 03, 2014, 01:22:12 AM |
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Very happy to see things finally moving along. Just give me access to my shares and everything will be golden  Here's to Ken and ACtM! Oh and the stacked up dividends too. Gotta have that satoshi dust. |
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damiano
Legendary
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Merit: 1000
103 days, 21 hours and 10 minutes.
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April 03, 2014, 01:22:50 AM |
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Fantastic news
Hopefully I can snag up some more cheap shares
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ldrgn
Member
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Activity: 118
Merit: 10
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April 03, 2014, 01:41:27 AM |
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Why is there a fire sale on brand new mining hardware?
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kslaughter
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April 03, 2014, 01:51:36 AM |
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Why is there a fire sale on brand new mining hardware?
The bitcoin price. |
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