Let's Talk Taxes

[Agapelove]

Cryptocurrency tax is one of the reasons why some governments do not recognize cryptocurrency coins. The governments don't know how to tax them. If the government will not get any amount to the transactions in cryptocurrency, better not to recognize it. If ever, they can think of a way to tax them, they might accept these coins.

[LuciferEveningStar]

Existing investment tax returns, but tax payments are taken from the results we will get, maybe we will be taxed 10% of the results we will get, all the things that are in the trade there must be taxes that must be paid.

In my own opinion ,people who are investing on cryptocurrency in order to earn profit should not pay taxes because there is already a transaction fee's in the market to transfer coins in other wallets.

[Andrew S]

Taxes will always be on everything and bitcoin is no exception, although they do not regulate it in any way.

[martinholly167]

the government is always looking for ways to be able to get something from a money movement, one of their way is through taxes, crypto is new thing which is still not having a clear regulation on taxes

[10c]

Soon all countries will begin to impose a tax on the crypto currency, because many countries lose huge amounts of money that go to other countries.

[ucingucingan]

talking about tax on crypto currency, of course there will be a lot of speculation that appears there is a pro and certainly there will be a lot of contra, in my opinion before it is really applied tax collection on crypto currencies the government should first review as closely as possible so that there is no mistake when the rules this is applied because if indeed the tax regulation on crypto currencies is applied in a country then from there the country will get enough large income

[lelylely]

Taxes may work if the government has legalized bitcoin, but for something that hasn't become legal then the tax rules don't apply, what else bitcoin is decentralization that won't be easy for the government to control.

[iv4n]

talking about tax on crypto currency, of course there will be a lot of speculation that appears there is a pro and certainly there will be a lot of contra, in my opinion before it is really applied tax collection on crypto currencies the government should first review as closely as possible so that there is no mistake when the rules this is applied because if indeed the tax regulation on crypto currencies is applied in a country then from there the country will get enough large income

Let's talk about tax, what is the purpose of taxes and how and why people avoid paying taxes. If you live in country where government respect all their citizens why to not pay taxes and be fair, but what if you live in country where government is corrupted? You ask yourself why are you paying taxes? My government already takes a lot from me, I think o will not give them my share of crypto, there isn't law about it, but when it comes I will hide my assets in a safe place, and I will be careful when I use them for paying and cashing out, it's possible to stay hidden with crypto and I will use my right for anonymity and privacy. When my government start to respect me I will rethink my decision about paying taxes on my coins.

[ylnar123]

Ok this is something that hits us all but when it comes to cryptocurrency there is a allot of uncertainty about how taxes will be enforced. There has been some news about different U.S. dollar amounts such as $10,000 at which taxes will be enforced or a certain amount of bitcoins traded such as 1 bitcoin at which taxes will apply. The majority of the news is based around cashing out on exchanges such as coinbase.
Based on what you have learned what do you think is the most likely scenario when it comes to cryptocurrency taxes in the U.S.?
Or comment on when do you think this will be clarified by the governing bodies?

As a citizen of a country, it is our duty to pay taxes for our earnings and ownerships. I cannot argue with the authority to impose taxes on our earnings in cryptocurrency as long as they use it for the improvement of our country.