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0
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1answer
39 views

Bitcoin and Company Launching

I'm quite new to anything related to Bitcoin, but let's say that I want to launch a website (in France), where people could buy some items with Bitcoin or could do some bets with Bitcoin. Do I need to ...
0
votes
1answer
34 views

How to tax trading in colored coins representing fiat?

Say Kraken and Bitstamp both issue colored coins for USD, called KrakenDollars and BitStampDollars. Then I find an colored coins exchange where I can trade between the two, and deposit some ...
3
votes
1answer
118 views

Mt. Gox losses for tax purposes

If I put $50 into Mt. Gox in February 2013, made multiples trades from BTC to USD and back, always remaining in the Mt. Gox system, and then lost all of it in the March bankruptcy, how do I handle ...
4
votes
1answer
54 views

How to file bitcoin income to the IRS as a nonresident alien

I am a Chinese student in US right now, and my taxation status is Nonresident Alien. Since IRS has announced bitcoin as "property", I just wonder how to define my gains from my sell of bitcoin in ...
2
votes
1answer
177 views

Is it legal to trade bitcoins on coinbase/mtgox in the US?

I am just wondering whether it is legal to trade bitcoins in the US just like we do for stocks? I see similar legal questions about selling OTC, but I am more interested in buying and selling in well ...
-1
votes
2answers
118 views

Will Bitcoin taxation be enforced by the IRS?

Ive heard bitcoins are about to be taxed by the IRS. The decision has been taken to regulate the virtual currency as there are concerns of it being used for illegal purposes. Is this True ?
4
votes
4answers
1k views

How to file bitcoin income to the IRS

I want to check if there is any specific tips how to properly file income from speculation with BTC to the IRS. Also is there any specific report from the Coinbase available?
2
votes
1answer
118 views

Tax deduction for US-based employer paying in Bitcoin to overseas contractor

My employer can write off business expenses (my salary) if he pays me via wire transfer, PayPal, Payoneer and some other international payment systems. Is there a tax-deductible method for him to buy ...
3
votes
1answer
187 views

How are bitcoin trade profits taxed in Poland?

I turned some profit when trading bitcoin on Bitcurex - likely enough to exceed the tax-free income value in Poland. That likely would mean I should declare the profits in my tax return forms and pay ...
3
votes
6answers
690 views

For US Tax purposes, is Bitcoin mining more like property, “work to solve a puzzle” or “winning a lottery”?

From a taxation perspective, I think it's important to clarify if running a Bitcoin mining operation is more like property exchange, labor to solve a puzzle, vs winning a lottery that runs every 10 ...
4
votes
3answers
270 views

bitcoin donations tax deductible?

I work as a volunteer for a tax exempt organization in the US. We are currently accepting donations in bitcoin but not issuing receipts for those donations. I would like to start issuing receipts. ...
8
votes
1answer
493 views

bitcoin knowledgeable attorneys?

I'd like to accept freelance work with bitcoin, probably a large enough amount to consult a lawyer. What kinds of questions would you ask to make sure they're competent? How would you go about ...
6
votes
3answers
534 views

What prevents Bitcoins for being used by criminals to avoid taxation?

Governments around the globe are fighting black markets by following money trails and transaction histories, usually involving checking the suspects bank accounts. This makes it at least feasible to ...
0
votes
1answer
294 views

Is the appreciation in bitcoins taxable? [duplicate]

If you have large gains in bitcoin, is there any way that it can be taxed? If I have $5000, and it appreciates to $10,000 worth of bitcoin, when I sell bitcoin for dollars can it be taxed as a ...
3
votes
4answers
830 views

If you trade with bitcoins, how do you manage to “explain” anti-laundering authorities the money-in & money-out?

When trading with bitcoins using mtgox, or bitcoin-24, or bitcoin.de, you will have in your account many transfers of money, to many people and from many people. In europe if the sum of the ...
6
votes
2answers
286 views

Should earnings in Bitcoin converter to a traditional currency be treated as trading-income or non-trading income for tax purposes?

Should earnings in Bitcoin converter to a traditional currency be treated as trading income or non-trading income for tax purposes (for example, in Ireland)? Reason for them being considered trading ...
2
votes
1answer
319 views

Is there a website that tracks Bitcoin taxes paid to local government?

One thing that would further legitimize Bitcoin with government oversight is the payment of relevant taxes to Federal and State government (in local equivalent currency) for e-commerce and mining ...
1
vote
0answers
122 views

What additional actions should an ethical Bitcoin-related business take with each transaction?

I'm considering starting an ethical business for users that accepts Bitcoin as a payment. My intent is to abide by all laws and interpret them in an appropriate manner. My intent is to abide by ...
5
votes
2answers
237 views

If miners pay income tax, could a change in tax laws affect network security?

Assuming that more than half of the Bitcoin miners pay taxes on revenue gained, could a increase in income tax laws (or similar) cause those ethical miners to go out of business? ... and the Bitcoin ...
3
votes
1answer
243 views

What Bitcoin profitability calculators account for taxation on miner income?

If I were to run a miner, I want to be ethical and pay all relevant income tax and gain all required licensing, etc for my country. My miner income is probably taxed at a 1099 income rate or lower, ...
5
votes
4answers
1k views

Any multi-currency accounting ledger that lets me use BTC?

Are there any online or open source (i.e., free, or at least cheap) accounting systems that do multi-currency so that I can record revenues and payments made using BTCs in the same system that I use ...
15
votes
4answers
4k views

Do you have to pay taxes on Bitcoin revenues?

Disclaimer: this is not legal advice, and this varies from country to country. If you accept bitcoins as payment, do you have to pay taxes on that? And would you have to write an invoice? Since they ...
12
votes
2answers
1k views

Tax implications in Canada of buying and selling Bitcoins?

What taxes should be paid in Canada on Bitcoin transactions? Has anyone gotten official advice on this? Is it relevant whether the Bitcoins were mined, received as payment for services, bought and ...