Bitcoin Taxes – News and Tips

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The government wants a piece of the Bitcoin action in the form of taxes. Today we look at the latest news as well as some practical tips regarding taxes and Bitcoin.

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Disclaimer: Everything expressed here is my opinion and not official investment advice – please do your own research before risking your own money!

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Bitcoin Taxes – News and Tips

36 comments

  1. One thing they can’t do if freeze or take crypto from one’s wallet 😉 like they can with a bank account , cheers Lark #noshavetill20k “crypto lark nation”

  2. You have to say “Sick Gains” more often, actually you should change your channel name to it 🙂

  3. Taxation is theft!! With that being said, pay your taxes. Losing some capital is better than being locked in a cage =/

  4. Lol I’ve been down for sooo long loss wise, HODL life though. I truly wish government would stop this nonsense. I hate giving up my hard earned crypto because I exist somewhere on the planet.

  5. Long term vs short term investments is a double edged sword. It will discourage active use. Also good luck to those who hold Kucoin Shares and keep getting token dust regularly. BTW Cointracking.info is a great way to keep track of ones trades.

  6. Seriously, how the hell do we keep up with this all ???????? Ridiculous …. ill wait a little more, see what happens …. Another great discussion, not too heavy not too light .. just right !!!

  7. Well, big government over taxes the little guy. Cmon, 35% is a lot to give them. I don’t mind paying 10%. I’ve been poor my whole life and don’t own a house. So, now it’s time for me to pay myself first so that I can buy my first home. Big government is rich, while most of us are not. Tired of their bullying us into giving them almost our whole paycheck.

  8. Pride in being a “law-abiding taxpayer” is not the result of having helped people, which the person could have done far more effectively on a voluntary basis; the pride comes from having faithfully obeyed the commands of a perceived “authority.

    To beg for the blessing of “authority” is to accept that the choice is the master’s alone to make, which means that the person is already, by definition, a slave.

  9. If US, a offshore LLC is the way to go. Many tax advantages. Pay only 1 a year. So all your short term capital gains turn into long term capital gains. 😉

  10. Great to have no taxes here in ireland on crypto, our government are 20 years behind 🙂 🙂 Got to love ireland the crypto haven.

  11. Robert Tudor hey check out V the gorilla economist, he has a great 45 minute video with some pros breaking down the doe and don’t. Very informative. Good luck…

  12. Now where I put my cryptos? I can’t think… was it under the mattress? On a USB stick, Ledger Nano? Can’t remember. Who knows?

  13. Thx for the tax info man..There are programs that you can upload .CSV files from exchanges that generate gain/loss totals for your accountant..
    CoinTracking is the one i used, It’s not perfect, I had to do a few manual inputs, but it helped a lot. I’m sure there are others out there also..
    Ask accountant about charitable contributions to offset tax liability.. I’d much rather give $2K to the local Goodwill, than to buy 1 hammer for the Govt.

  14. If you create a mining Llc , you can create deductions such as the parts you buy for computer, the electricity, the space you use to mine. There are so many ways to legally avoid taxes. Yes I know a lot about taxes I work with it. I would recommend people to study about taxes 🤔

  15. We all know it makes no sense to treat crypto’s as an ‘asset’ and not a ‘currency’ – Let me go buy my breakfast with an asst. Let me fill up my car with an asset. Let me pay my bill with an asset. How many transactions a year do they expect people to record and how many are they expecting to monitor. It’s only a matter of time before the governments / tax departments realise it’s impractical. They don’t have technological know how / man power, especially with ‘privacy’ coins, to track the flow of value. Crypto currencies are currencies. No one should forget that.

  16. Thank you sooo much about this, was waiting for a while now to hear what your thoughts were on taxes for bitcoin, especially, in the US. Unfortunately, i started buying and holding all of cryptos in 2018. so this will be fun when it comes to taxes next year.

    Thanks again.

  17. @dinoRexGamingHD you need to checkout my channel for the new kid on the block .Exciting times ahead.

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