Bitcoin and Crypto Taxes

Bitcoin Tax Rate 2019 – Crypto Taxes you will wish to know sooner than the moon

Bitcoin Tax Rate 2019 – Crypto Taxes you will wish to know sooner than the moon submitted by W1ngIt to hahahahahahahah [link] [comments]

Bitcoin Tax Rate 2019 – Crypto Taxes you will wish to know sooner than the moon

Bitcoin Tax Rate 2019 – Crypto Taxes you will wish to know sooner than the moon submitted by Brent357 to Bitcoin_Future [link] [comments]

Bitcoin Tax Rate 2019 – Crypto Taxes you will wish to know sooner than the moon

Bitcoin Tax Rate 2019 – Crypto Taxes you will wish to know sooner than the moon submitted by Hellterskelt to bitcoin_is_dead [link] [comments]

Bitcoin Tax Rate 2019 – Crypto Taxes you will wish to know sooner than the moon

Bitcoin Tax Rate 2019 – Crypto Taxes you will wish to know sooner than the moon submitted by Brent357 to Bitcoin_2019 [link] [comments]

Bitcoin Tax Rate 2019 – Crypto Taxes you will wish to know sooner than the moon

Bitcoin Tax Rate 2019 – Crypto Taxes you will wish to know sooner than the moon submitted by Rufflenator to 3bitcoins [link] [comments]

Bitcoin Tax Rate 2019 – Crypto Taxes you will wish to know sooner than the moon

Bitcoin Tax Rate 2019 – Crypto Taxes you will wish to know sooner than the moon submitted by ososru to Bitcoin4free [link] [comments]

Bitcoin Tax Rate 2019 – Crypto Taxes you will wish to know sooner than the moon

Bitcoin Tax Rate 2019 – Crypto Taxes you will wish to know sooner than the moon submitted by Leka213 to CryptocurrencyToday [link] [comments]

5 Ways to Get Rid of Your Bitcoin Gains Tax Rate

5 Ways to Get Rid of Your Bitcoin Gains Tax Rate submitted by bdinu89 to Bitcoin [link] [comments]

Trump pitched 0% payroll tax rate for the rest of the year, White House official says (Possible strong upward pressure on Bitcoin due to inflation)

Trump pitched 0% payroll tax rate for the rest of the year, White House official says (Possible strong upward pressure on Bitcoin due to inflation) submitted by gta3uzi to Bitcoin [link] [comments]

The elephant in the room

Sorry, no pictures of elephants. Just one word: tax.
Everyone who's scratching their eyeballs out over the medium term price movements needs to have a hard think about this complicated and boring, but critical, factor.
The advent of tax regulations for bitcoin from 2017 onward has been a game changer.
Tax was just not an issue for bitcoin users in most major jurisdictions up until 2017, and its unregulated and untaxed status was surely one of its key attractive points from the outset.
Yes, hardcore hodlers in their bunkers gonna hodl and wait for the Fiat Apocalypse. But in the interim years (decades? forever?), aren't law-abiding stores and consumers meant to be "adopting" bitcoin as a peer to peer cash system?
From 2017 onward, who in the major countries is going to adopt "cash" that's now "taxable" just by virtue of using it?
It may be many years until tax regimes in the major jurisdictions become less punitive for users/traders.
Take Japan: currently a bitcoin tax rate of up to 55%, and no offsetting against other losses etc. The Japanese tax agency issued its rules on bitcoin taxation in December 2017. US and Australian tax seasons are approaching.
Isn't one reasonable medium term price outlook that since December 2017 we've entered a bitcoin tax winter?
submitted by fiatoshi to Bitcoin [link] [comments]

I'm a teenage game developer with an interest for bitcoin and a low tax roof and high tax rate

So, I'm making roughly 35 dollars a day, which is not taxed before turned into fiat () I'm currently holding 0.24 Bitcoin and I would preferably like to get a larger hold in Bitcoin before the presumed upcoming uptrend. I currently have the ability of "cashing out" up to $9000, and where I live we have a tax roof at $2000 where after hitting that in yearly income you are subject to a 30% income tax. Essentially I hold $9000 in value, and would like to get more Bitcoin, however I'm a minor and I have a bit of a tax matter that should be taken into consideration. Along with upcoming events.
I'd appreciate recommendations and general thoughts! Thanks!
submitted by JonVici1 to Bitcoin [link] [comments]

"Discussion at Satoshi Roundtable this morning: Lightning will suppress tax fees. What about the Bitcoin fee market? Well, we might have to introduce a low inflation rate to Bitcoin once the block reward gets too low. "

submitted by Egon_1 to btc [link] [comments]

Romania Imposes Bitcoin & Crypto Profit Tax at 10% Rate

Romania Imposes Bitcoin & Crypto Profit Tax at 10% Rate submitted by Irushrating to Bitcoin [link] [comments]

For forty years, the US economy has been juiced by lowering the interest rates. But like a drug addict, the effects keep dwindling. When the recession hits next time, the only option is to go negative interest rates — a huge tax on savers. Say hello to gold or bitcoin

submitted by wakeup2019 to worldpolitics [link] [comments]

This is it.

I don't plan to sell ANY bitcoin for USD in the future. Instead, I will take bank loans against my bitcoin, using the btc as collateral and purchase more rental properties. Then, mortgage/refinance the property, and use that cash to pay back the bank for my bitcoin loan. Rinse and repeat, etc. Get more renters and properties, and with the cash flow, pay off the mortgages and buy more bitcoin.
Remember kids, you pay capital gains tax when you sell your bitcoin. Take a low interest loan instead and use the loan to buy cash flow generating assets. Use your money to make more money, pay as few taxes as possible, and buy more bitcoin.
I don't feel confident holding fiat cash, especially considering the USD money supply increased by 22% in year 2020 alone. I don't feel confident investing in the stock market with the state of the current economy, the aftermath and ongoing problems related to covid, and the incompetence of government handling stimulus.
Now that macro investors like Paul Tudor Jones and companies like MicroStrategy and Square are making heavy moves into bitcoin, it makes sense to me now more than ever. I was feeling these kinds of investors and institutions were gonna come in eventually, and now it's finally happening. Obviously, its still early, more companies need to join in too. I have a feeling they will.
I’ve been in for a long time. Im not a newbie in the space. I don't see a better monetary instrument to bet on in this moment.
Im completely open and willing to be wrong, but I really don't think I am.
Edit: thanks for everyone’s comments. I’m Learning a ton. This was the sounding board I was hoping for.
Don’t worry, I’m not gonna do anything super risky. I don’t plan to ever be liquidated. I’ll continue to do more due diligence. These were just some ideas that I was stewing on, and since I don’t know any bitcoiners in real life, getting this feedback is super valuable to me. Cheers
submitted by SpockSays to Bitcoin [link] [comments]

Soon In North Queensland Everything I Buy Will Be Bought With Bitcoin BCH - Holdouts: City Rates, Energy, Taxes - Any Ideas On How To Get All Bitcoin-BCH-Native On These?

Soon In North Queensland Everything I Buy Will Be Bought With Bitcoin BCH - Holdouts: City Rates, Energy, Taxes - Any Ideas On How To Get All Bitcoin-BCH-Native On These? submitted by where-is-satoshi to btc [link] [comments]

If you sell or spend a Bitcoin that you can show you owned for more than a year, it is classed as long-term and any gains made will have favorable tax rates. But what proves this +1 year ownership?

If you sell or spend a Bitcoin that you can show you owned for more than a year, it is classed as long-term and any gains made will have favorable tax rates. The rate depends on your other income, but will wither be a flat 15% or 0%. There is a 20% rate for high income earners.
What would you need to prove this ownership? A copy of the exchange trade where I bought this bitcoin, will that suffice?
Or do I really need to be able to show the blockchain address?
submitted by netgeogates to bitcointaxes [link] [comments]

AIB slashing deposit interest rates to zero for most accounts from Jan 21

AIB slashing deposit interest rates to zero for most accounts from Jan 21 submitted by ERpunk to ireland [link] [comments]

The Romanian Government has Imposed a Tax Rate of 10 Percent on Bitcoin - Cryptoshib

The Romanian Government has Imposed a Tax Rate of 10 Percent on Bitcoin - Cryptoshib submitted by shib2000 to Crypto_Currency_News [link] [comments]

Putting $400M of Bitcoin on your company balance sheet

Also posted on my blog as usual. Read it there if you can, there are footnotes and inlined plots.
A couple of months ago, MicroStrategy (MSTR) had a spare $400M of cash which it decided to shift to Bitcoin (BTC).
Today we'll discuss in excrutiating detail why this is not a good idea.
When a company has a pile of spare money it doesn't know what to do with, it'll normally do buybacks or start paying dividends. That gives the money back to the shareholders, and from an economic perspective the money can get better invested in other more promising companies. If you have a huge pile of of cash, you probably should be doing other things than leave it in a bank account to gather dust.
However, this statement from MicroStrategy CEO Michael Saylor exists to make it clear he's buying into BTC for all the wrong reasons:
“This is not a speculation, nor is it a hedge. This was a deliberate corporate strategy to adopt a bitcoin standard.”
Let's unpack it and jump into the economics Bitcoin:

Is Bitcoin money?

No.
Or rather BTC doesn't act as money and there's no serious future path for BTC to become a form of money. Let's go back to basics. There are 3 main economic problems money solves:
1. Medium of Exchange. Before money we had to barter, which led to the double coincidence of wants problem. When everyone accepts the same money you can buy something from someone even if they don't like the stuff you own.
As a medium of exchange, BTC is not good. There are significant transaction fees and transaction waiting times built-in to BTC and these worsen the more popular BTC get.
You can test BTC's usefulness as a medium of exchange for yourself right now: try to order a pizza or to buy a random item with BTC. How many additional hurdles do you have to go through? How many fewer options do you have than if you used a regular currency? How much overhead (time, fees) is there?
2. Unit of Account. A unit of account is what you compare the value of objects against. We denominate BTC in terms of how many USD they're worth, so BTC is a unit of account presently. We can say it's because of lack of adoption, but really it's also because the market value of BTC is so volatile.
If I buy a $1000 table today or in 2017, it's roughly a $1000 table. We can't say that a 0.4BTC table was a 0.4BTC table in 2017. We'll expand on this in the next point:
3. Store of Value. When you create economic value, you don't want to be forced to use up the value you created right away.
For instance, if I fix your washing machine and you pay me in avocados, I'd be annoyed. I'd have to consume my payment before it becomes brown, squishy and disgusting. Avocado fruit is not good money because avocadoes loses value very fast.
On the other hand, well-run currencies like the USD, GBP, CAD, EUR, etc. all lose their value at a low and most importantly fairly predictible rate. Let's look at the chart of the USD against BTC
While the dollar loses value at a predictible rate, BTC is all over the place, which is bad.
One important use money is to write loan contracts. Loans are great. They let people spend now against their future potential earnings, so they can buy houses or start businesses without first saving up for a decade. Loans are good for the economy.
If you want to sign something that says "I owe you this much for that much time" then you need to be able to roughly predict the value of the debt in at the point in time where it's due.
Otherwise you'll have a hard time pricing the risk of the loan effectively. This means that you need to charge higher interests. The risk of making a loan in BTC needs to be priced into the interest of a BTC-denominated loan, which means much higher interest rates. High interests on loans are bad, because buying houses and starting businesses are good things.

BTC has a fixed supply, so these problems are built in

Some people think that going back to a standard where our money was denominated by a stock of gold (the Gold Standard) would solve economic problems. This is nonsense.
Having control over supply of your currency is a good thing, as long as it's well run.
See here
Remember that what is desirable is low variance in the value, not the value itself. When there are wild fluctuations in value, it's hard for money to do its job well.
Since the 1970s, the USD has been a fiat money with no intrinsic value. This means we control the supply of money.
Let's look at a classic poorly drawn econ101 graph
The market price for USD is where supply meets demand. The problem with a currency based on an item whose supply is fixed is that the price will necessarily fluctuate in response to changes in demand.
Imagine, if you will, that a pandemic strikes and that the demand for currency takes a sharp drop. The US imports less, people don't buy anything anymore, etc. If you can't print money, you get deflation, which is worsens everything. On the other hand, if you can make the money printers go brrrr you can stabilize the price
Having your currency be based on a fixed supply isn't just bad because in/deflation is hard to control.
It's also a national security risk...
The story of the guy who crashed gold prices in North Africa
In the 1200s, Mansa Munsa, the emperor of the Mali, was rich and a devout Muslim and wanted everyone to know it. So he embarked on a pilgrimage to make it rain all the way to Mecca.
He in fact made it rain so hard he increased the overall supply of gold and unintentionally crashed gold prices in Cairo by 20%, wreaking an economic havoc in North Africa that lasted a decade.
This story is fun, the larger point that having your inflation be at the mercy of foreign nations is an undesirable attribute in any currency. The US likes to call some countries currency manipulators, but this problem would be serious under a gold standard.

Currencies are based on trust

Since the USD is based on nothing except the US government's word, how can we trust USD not to be mismanaged?
The answer is that you can probably trust the fed until political stooges get put in place. Currently, the US's central bank managing the USD, the Federal Reserve (the Fed for friends & family), has administrative authority. The fed can say "no" to dumb requests from the president.
People who have no idea what the fed does like to chant "audit the fed", but the fed is already one of the best audited US federal entities. The transcripts of all their meetings are out in the open. As is their balance sheet, what they plan to do and why. If the US should audit anything it's the Department of Defense which operates without any accounting at all.
It's easy to see when a central bank will go rogue: it's when political yes-men are elected to the board.
For example, before printing themselves into hyperinflation, the Venezuelan president appointed a sociologist who publicly stated “Inflation does not exist in real life” and instead is a made up capitalist lie. Note what happened mere months after his gaining control over the Venezuelan currency
This is a key policy. One paper I really like, Sargent (1984) "The end of 4 big inflations" states:
The essential measures that ended hyperinflation in each of Germany,Austria, Hungary, and Poland were, first, the creation of an independentcentral bank that was legally committed to refuse the government'sdemand or additional unsecured credit and, second, a simultaneousalteration in the fiscal policy regime.
In english: *hyperinflation stops when the central bank can say "no" to the government."
The US Fed, like other well good central banks, is run by a bunch of nerds. When it prints money, even as aggressively as it has it does so for good reasons. You can see why they started printing on March 15th as the COVID lockdowns started:
The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals.
In english: We're going to keep printing and lowering rates until jobs are back and inflation is under control. If we print until the sun is blotted out, we'll print in the shade.

BTC is not gold

Gold is a good asset for doomsday-preppers. If society crashes, gold will still have value.
How do we know that?
Gold has held value throughout multiple historic catastrophes over thousands of years. It had value before and after the Bronze Age Collapse, the Fall of the Western Roman Empire and Gengis Khan being Gengis Khan.
Even if you erased humanity and started over, the new humans would still find gold to be economically valuable. When Europeans d̶i̶s̶c̶o̶v̶e̶r̶e̶d̶ c̶o̶n̶q̶u̶e̶r̶e̶d̶ g̶e̶n̶o̶c̶i̶d̶e̶d̶ went to America, they found gold to be an important item over there too. This is about equivalent to finding humans on Alpha-Centauri and learning that they think gold is a good store of value as well.
Some people are puzzled at this: we don't even use gold for much! But it has great properties:
First, gold is hard to fake and impossible to manufacture. This makes it good to ascertain payment.
Second, gold doesnt react to oxygen, so it doesn't rust or tarnish. So it keeps value over time unlike most other materials.
Last, gold is pretty. This might sound frivolous, and you may not like it, but jewelry has actual value to humans.
It's no coincidence if you look at a list of the wealthiest families, a large number of them trade in luxury goods.
To paraphrase Veblen humans have a profound desire to signal social status, for the same reason peacocks have unwieldy tails. Gold is a great way to achieve that.
On the other hand, BTC lacks all these attributes. Its value is largely based on common perception of value. There are a few fundamental drivers of demand:
Apart from these, it's hard to argue that BTC will retain value throughout some sort of economic catastrophe.

BTC is really risky

One last statement from Michael Saylor I take offense to is this:
“We feel pretty confident that Bitcoin is less risky than holding cash, less risky than holding gold,” MicroStrategy CEO said in an interview
"BTC is less risky than holding cash or gold long term" is nonsense. We saw before that BTC is more volatile on face value, and that as long as the Fed isn't run by spider monkeys stacked in a trench coat, the inflation is likely to be within reasonable bounds.
But on top of this, BTC has Abrupt downside risks that normal currencies don't. Let's imagine a few:

Blockchain solutions are fundamentally inefficient

Blockchain was a genius idea. I still marvel at the initial white paper which is a great mix of economics and computer science.
That said, blockchain solutions make large tradeoffs in design because they assume almost no trust between parties. This leads to intentionally wasteful designs on a massive scale.
The main problem is that all transactions have to be validated by expensive computational operations and double checked by multiple parties. This means waste:
Many design problems can be mitigated by various improvements over BTC, but it remains that a simple database always works better than a blockchain if you can trust the parties to the transaction.
submitted by VodkaHaze to badeconomics [link] [comments]

@AaronvanW IMF trial balloon: demurrage tax on cash for -ve interest rates, ouch! But bullish for #Bitcoin. The wor… https://t.co/maB89wJIGn - Crypto Dynamic Info - Whales's

Posted at: February 17, 2019 at 03:00AM
By:
@AaronvanW IMF trial balloon: demurrage tax on cash for -ve interest rates, ouch! But bullish for #Bitcoin. The wor… https://t.co/maB89wJIGn
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The Romanian Government has Imposed a Tax Rate of 10 Percent on Bitcoin

The Romanian Government has Imposed a Tax Rate of 10 Percent on Bitcoin submitted by laimafr to cryptoshib [link] [comments]

BITCOIN NEW TAX BREAKS!?!! Parabolic Move, Digital Dollar, Davos - Programmer explains #Cryptocurrency: US Taxation and Regulation. Mining ... Cryptocurrency Tax in 5 Minutes - What are Taxable Events ? Surat Income Tax's grabs success nabbing BitCoin Scam used to transfer Black Money  Vtv Prepare To NEVER See This Bitcoin Price Level Again! [Crypto Market Analysis]

Here’s a list of eight countries – in no order of importance – which may be considered as bitcoin tax havens, ... attracting tax as business income at the rate of 35%. Malta is perhaps one ... Bitcoin's treatment as an asset makes the tax implication clear. ... individuals pay taxes at a rate lower than the ordinary income tax rate if they have held the bitcoins for more than a year ... Depending on your tax bracket for ordinary income tax purposes, long-term capital gains, which are recognized when an asset is held for at least one year & one day, are taxed at a rate of 0%, 15%, or 20%. Short-term capital gains are recognized when Bitcoin is held for one year or less, are taxed at your ordinary income tax rates. If considered as capital assets, bitcoins held as an investment and later exchanged for real money via exchange platforms like zebpay are liable for a flat 20% tax on long-term gains or the applicable individual tax slab rate on short-term gains. The increment on value at the time of sale will be considered long term or short term depending on the period of holding of bitcoin. Long-term tax rates in the United States are also based on an individual's income tax rate, but range between 0% and 20% (2018). Ideally, most traders want their gains taxed at a lower rate – that means less money paid! However, in the world of crypto-currency, it is not always so simple. In order to categorize your gain as long-term, you must truly hold your asset for longer than one year ...

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BITCOIN NEW TAX BREAKS!?!! Parabolic Move, Digital Dollar, Davos - Programmer explains

BITCOIN TAXES (BIG UPDATE) - DON'T GET REKT!!! 🛑 AMA WITH CRYPTO CPA ... trump, finance, stock, investment, halving, halvening, too late, when, fed, federal reserve, interest rates, rates, cut ... Surat Income Tax's grabs success nabbing BitCoin Scam used to transfer Black Money Download VTV Gujarati News App at https://goo.gl/2LYNZd VTV Gujarati News Channel is also available on other ... Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered ... Join our Discord!👉 https://discord.gg/profits Daily Crypto, Bitmex, Stock, ETF, & Forex Signals: https://www.tradersprofitclub.com Subscribe to our channel! ... LIVE: Watch stocks trade in real time after Fed slashes rates – 3/16/2020 CNBC Television 2,539 watching Live now 3 Steps to Survive THIS Market Crash - Robert Kiyosaki [Millennial Money ...

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