Crypto taxes

142 Articles 2 Followers

Taxable Event does NOT always mean Pay More Taxes [US]

17 Aug 2021 1 minute read 0 comments Crypto Wombat

I see a common misconception in the crypto space when people start learning about crypto taxes that they think every time they make a trade, swap, or sell they are losing more and more money to taxes the more they move money. This is not always the c...

LOL Socios/Chiliz also charge you a 21% tax on BLOCKCHAIN TRANSFERS, and still no Euro banking deposits available on Binance

14 Aug 2021 1 minute read 0 comments Kovichni

Remember a few weeks ago when I shared a rather unfortunate choice in making a CHZ purchase directly on Socios to trade for the (not so) soon to be arriving Inter token?

Crypto Taxation - Assault on our freedom !!!

5 Aug 2021 1 minute read 0 comments coinsurprise

I can not talk about the US government's proposed legislation for crypto taxation, without also calling it out for what it is: An assault on our freedom.  It has been famously said that Freedom is a wonderful thing and it is only ever one generation...

Koinly Tax Exports

3 Aug 2021 1 minute read 0 comments Keegan Francis

This is a bonus newsletter containing exports from my Koinly account. I wanted to provide you with an expectation of what is in the reports so you can make a better judgement on whether or not you’d like to use a service like Koinly to automate your...

Paying Crypto Taxes (I Don't Want To But I Do It Anyway)

3 Aug 2021 1 minute read 2 comments Keegan Francis

3 Things are Certain in Life. Death; Taxes; and 21 Million Bitcoin. A situation I never want to find myself in, is going to jail for owning crypto. Thankfully I live in Canada, so hopefully the only way the government would do that to me, is if I f...

The Crypto Taxman Commeth: Incoming US Regulation

3 Aug 2021 2 minute read 5 comments Bread

The latest US Government Infrastructure Bill, apart from costing a ridiculous $1 trillion dollars that the government will have to borrow from the Federal Reserve (who prints it out of thin air as usual), contains some bad news for crypto. I know, yo...

Congratulations, you paid 21% sales tax purchasing Crypto and are now "safe" thanks to your government

27 Jul 2021 2 minute read 0 comments Kovichni

I was just charged 21%, yes, you read it right, 21% on my Crypto purchase in taxes on the additional service fee charge of almost 9 Euros. The service thing they've got going on is also percentage based, so just like the sales tax, the more you inves...

Paraguay rules opposite to El Salvador

20 Jul 2021 1 minute read 0 comments RFereru

Paraguay, which initially wants to follow in El Salvador's footsteps regarding the use of Bitcoin, has presented an initiative that seems to be quite different from what cryptocurrency users would have liked. The two important points are: 1. It is n...

Taxing "staking rewards" is brutal

12 Jul 2021 3 minute read 1 comment belemo

I understand the importance of tax, even though I don't entirely get the point of it when the government will just print money anyway, but I accept that we all could keep some part of our earnings to improve our society. However, I feel like sometime...

I Found an Impressive "Crypto For Beginners" Document

5 Jul 2021 1 minute read 1 comment Alonicus

I'm not usually a fan of HMRC (Her Majesty's Revenue and Customs - the UK tax authority). Much of their output is so unintelligible it might as well be written in Martian. But just occasionally, they write something in clear, comprehensible terms. Th...