Is trading crypto independently considered a business?

[Pipdips]

Is trading crypto on your own with no employees and no storefront categorized as a real business?

If you profit $300 per year from this stuff, is that considered a business?

How about profiting $3,000 per year?

Or profiting $30,000 per year?

Where does trading online take on all of the aspects of being a legitimate and identifiable business?

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[tadpole_bitfrog]

no, it should belong to personal transactions. Like normal traders, they also trade coins and make lots of money from it, but they only pay personal income tax. You do not need to pay additional corporate tax.

[danherbias07]

No.
We could say they have both the same kind of profit which is unsure or there is no accurate number.
But the difference is there is more risk with doing crypto currency trading.
There is a way to make a business boom again specially now with so much social media thing.
But not with trading. You lose, you try to get back tomorrow and there is no assurance you will gain it back.

With business your item is intact. You just need the push. You never really lost anything.

[palle11]

Is trading crypto on your own with no employees and no storefront categorized as a real business?

If you profit $300 per year from this stuff, is that considered a business?

How about profiting $3,000 per year?

Or profiting $30,000 per year?

Where does trading online take on all of the aspects of being a legitimate and identifiable business?

For someone who does it as a livelihood, I will say yes, it is a business and you have to be serious with it.

No.
We could say they have both the same kind of profit which is unsure or there is no accurate number.
But the difference is there is more risk with doing crypto currency trading.
There is a way to make a business boom again specially now with so much social media thing.
But not with trading. You lose, you try to get back tomorrow and there is no assurance you will gain it back.

With business your item is intact. You just need the push. You never really lost anything.

All businesses involve risk. The businesses you think the profit is predetermined, stable or calculated, the proprietor has undergone training to be able to study and understand the market landscape, so also should trading be taken serious in learning the rudiments too

[exstasie]

Is trading crypto on your own with no employees and no storefront categorized as a real business?

If you profit $300 per year from this stuff, is that considered a business?

How about profiting $3,000 per year?

Or profiting $30,000 per year?

Where does trading online take on all of the aspects of being a legitimate and identifiable business?

For tax purposes? The IRS does not consider trading to be a business activity. Trading income is unearned income, not business income subject to self-employment taxes.

There can be tax benefits to treating it like a business though. They are listed in the article I linked. The primary ones being

• You can deduct business expenses (like computer, trading software/subscriptions, internet access)
• In losing years, you can deduct more than $3,000 per year in net capital losses

[Lanatsa]

Is trading crypto on your own with no employees and no storefront categorized as a real business?

If you profit $300 per year from this stuff, is that considered a business?

How about profiting $3,000 per year?

Or profiting $30,000 per year?

Where does trading online take on all of the aspects of being a legitimate and identifiable business?

Nope it cant be considered as a business but somehow on other countries it is subjected to extract out some taxes.
I do rather see this as a job than to be a business. Earnings cant be determined yet we know on how profitability works on this area.
I agree that someone said above that other people could treat this one as a business and get serious with it yet we've been generating money
for sustaining up our needs.

[crzy]

I can consider that as your business because you are earning money but make sure that you don’t need much money for your daily needs because trading can’t give you fix profit everyday. If you gain a lot of money from trading, treat it as your business and make a good decision for you to stay on that business.

[Kasabus]

Trading will have to be considered as a business as well. It is to consider because trading includes money, we earned, we lose, it all be the same approach with real stock business.
https://tradingeducators.com/books/trading-is-a-business if we have to read this, we can say that trading is another form of business which a lot of people are engaging in this certain thing. But what I can see is that trading is the riskier thing that we tried to engage for and many have suffered losses than of being profitable.

[Zemomtum]

Anything that can be exchanged for money is considered to be a business in which crypto trading will not be exceptional. If it is done well with solid background and exposure to fundamental and technical analysis, then it becomes a huge business with good return as long the know-how is there

[negancoin]

Are you asking if trading is a business in state's eye or in general?. since you are not working for someone else, it can't be called a job. So in your scenario I would say it's home business or self-employment. Having that said, I would recommend you to use some of your income in creating a real business beside trading.

[Viscore]

Are you asking if trading is a business in state's eye or in general?. since you are not working for someone else, it can't be called a job. So in your scenario I would say it's home business or self-employment. Having that said, I would recommend you to use some of your income in creating a real business beside trading.

Trading for me is somehow like a business too because you can generate a good income here and there are also bad times that you will lose your capital. But the more you are familar with how the market moves will give you more chances to earn more in trading. Just like if you cannot determine the movement of the coins in the market, you will surely lose your own capital.

[btc-facebook]

business has a lot of meaning, and it depends on who understands and interprets it,
trading on crptocurrency can be a business or a job if we believe that, whether we have employees or not,
but unfortunately many traders do not want to recognize the business, they like to call it a trader, not a businessman. and this, including me, is better known to be unemployed with more money or traders than businesspeople.

[samcrypto]

It will depend on how you see trading because for me its a business and that's why I have to protect my capital and do my best to grow my portfolio. Business is something you do to create profit and that its our main goal in trading on any market. Crypto trading is the same with the legal businesses, we do this to have profit and we do this for us to achieve our goals in life in the future.

[L19]

yeah... and if it really is, then what type of?!

[jaocoincrypto18]

It is not because commercial businesses will need permits to operate like licence and some legal documents from the government in which there is none for Crypto trading but they have the same tax obligations if Crypto is declared legal in the country.

[michellee]

I think trading crypto is included in the personal business owner. We work for searching for money like what other people's did. We don't have an office, and we don't have an employee who works with us. But we run the trading by ourselves. The world has been changed, the traditional work has transformed into digital work. So what we do in the online life will be considered as work as in real life. But many people out there cannot imagine how we can make money from what we did, and that is why they cannot accept that we can make money like them.

[Polar91]

As long as you don't have any employer and you're making profit on it, it's considered as a business already. Business isn't about having an employee, paying different expenses, and etc. Also, you can be a broker in crypto trading, meaning you're handling other peson's money thus both of you can benefit from each other (considered as business already). Wether it's small time or big time, there's no problem on that.

[Google+]

I think there are some people who think that way, they have a lot of money capital and make trading as a main job because maybe he does not want to work leaving his family so trading at home can be a very pleasant job for people who can use it.

[maxreish]

You can think of that way-a business! You can threat it as your business where you get your daily/ monthly income. You take care of it, sorting out problems, writing up a plan to become successful, no boss and you can manage your time.

But for me, rather than business, I consider it as a job because we all know that business needs consumers while trading is a different thing.

[mamahdedeh]

I think it is a business. fortunately regardless of size, it's still a business. with a large capital means a chance to get a bigger profit as well. even in a loss condition it is still a business. A business is a business based on a strategy prepared earlier, and trading is an opportunity