Capital Gains Tax

[boconniff40]

It's not just 15%, check with an accountant or tax lawyer to know.

[Stephen Gornick]

 - http://en.bitcoin.it/wiki/Tax_compliance#Are_my_bitcoins_taxed_as_income.2C_or_as_capital_gains.3F

But is bitcoin a currency, like the Euro and Yen?  Or is it a commodity like gold or oil.   It probably isnt' a security.

Related:
 - http://blog.bitcointitan.com/post/17789738826/what-u-s-regulations-apply-to-bitcoins-as-commodities

[boconniff40]

OKAY, in the USA it really is 15% WOWWWWW, USA IS SO COOL

[Matthew N. Wright]

OKAY, in the USA it really is 15% WOWWWWW, USA IS SO COOL

You must be new. (To the USA)

[boconniff40]

I'm in Canada actually... up here it is 50% of what you earned times your tax rate

For example...

$100 x 50% x 43% = $21.5(21.5%)

[Matthew N. Wright]

I'm in Canada actually... up here it is 50% of what you earned times your tax rate

For example...

$100 x 50% x 43% = $21.5(21.5%)

Jesus christ on a cracker.

[boconniff40]

Not too bad really.. just 6.5% more than you guys.

[Matthew N. Wright]

Not too bad really.. just 6.5% more than you guys.

Well the Hague convention has made things a bit more comfortable for me here in South Korea.