/biz/ - Business & Finance

Waging is great /biz/. Face the truth. Big corporate is the way.

PAY YOUR TAXES, YOU CRYPTO CLOWNS

PAY YOUR TAXES, YOU CRYPTO SCUMBAGS

So I have a question about taxes /biz/. As we all know, Trump's tax bill got rid of the classification of crypto as like-kind exchanges and went into effect on 1/1/18. The taxes due April this year are for your income from 1/1/17 to 12/31/17. So my question is, for tax returns this April we only have to report on crypto-fiat transactions, because crypto-crypto transactions won't be a taxable event until the returns we file in April 2019 for this fiscal year right?

REQ has such massive potential it's not even funny. Currently the use case REQ is presenting is the ONLY crypto tech I'm interested in using in the real world right now.

Just got my ass burned with the ludicrous paypal fees.

The concept is solid, the use case applicable to basically any person in the world. The team is accomplished and established in relevant fields. It's being backed by Y Combinator, the seed accelerator behind Coinbase, Dropbox, Airbnb, Twitch, Reddit, Stripe.

If there is any 'real world' crypto tech use case that I can see being part of everyday life its definitely the REQ network.

REQ exceeds paypal in terms of fees, but also simultaneously eats away at the purpose of exchanges by offering cheap and easy ways to purchase various crypto currencies on top of traditional fiat.

PAJEET YOU MUST LEAVE

Inform yourself. Pay taxes to avoid pic related. Simple as that.

https://www.ethnews.com/tax-cut-bill-to-require-taxation-of-cryptocurrency-trades-in-us

You HAVE been accounting for tax for every single currency to currency trade, right anons?

You ARE keeping track of every single conversion, buy and sell you make right anon? If not hope you enjoy jail.

Hodlers can expect a normal tax season with a small capital gain addendum. This is smart. Keep your crypto transactions to a minimum.

Shitcoiners however...boy are you guys in for a nightmare. Every single time you move coin or buy or sell needs to be documented. EVERY. SINGLE. TIME. You can expect your taxes to be roughly 300-1000 pages depending on how adderal fueled your daytrading is. There is roughly a 99% chance that your run of the mill shitcoiner will fuck this up and the IRS will come a knocking since they now have their eyes super fixed on the crypto craze. And if you pay somebody to do those taxes expect the highest of fees; you'll be paying a small fortune. Say goodbye to those gains.

Honestly I hope /biz/ is smart about their taxes but who am I kidding roughly 3/4ths of this board are shitcoiners and have no idea the reckoning that is coming their way come april.

How early is too early for a business/recruiter to call you?

How late is too late?

Is the 9am meme over?