This is a big problem with taxation..."pay double to support the government's wars, corporate subsidies, and other inefficient programs that probably don't align with your moral values." This is why I got into cryptos. Take the power away from the centralized, oligarchs and give it back to the people. Hopefully soon I won't have to cash out into fiat and I can avoid double taxation. I pay plenty of taxes from my salary, sales tax, etc. As of trading...they say 90 percent of people lose money day trading. I prefer mid term to long term holding, but sometimes if things line up properly, I will go for the short term day trade. Nice share
It's mad, I didn't see things like this. I'm a Business student in a United Kingdom University, making music and kind of trading/HODLing, and I don't pay taxes (yet) so I didn't even ask myself the question about this. I just pay all those fees from buying from X market or exchanging on Y exchange platform.. Buying BTC with fiat is such a pain.
Great value comment though!
The very good information you shared with this post. So it's actually learning post for newcomer also. I agree with this option('the buy-and-hold investment strategy') and I think it's the best idea.
Anyhow, thanks dear for this awesome post...
Thanks for the follow up post. Very informative. I think that taxes is one thing that many people in crypto overlook, which may come back to bite them in the future.
Personally, I consulted a family member who works in the tax office (luckily!) and I will pay capital gains on my earned income through investing, and will have to declare trading income - so you are spot on!
This is a big problem with taxation..."pay double to support the government's wars, corporate subsidies, and other inefficient programs that probably don't align with your moral values." This is why I got into cryptos. Take the power away from the centralized, oligarchs and give it back to the people. Hopefully soon I won't have to cash out into fiat and I can avoid double taxation. I pay plenty of taxes from my salary, sales tax, etc. As of trading...they say 90 percent of people lose money day trading. I prefer mid term to long term holding, but sometimes if things line up properly, I will go for the short term day trade. Nice share
It's mad, I didn't see things like this. I'm a Business student in a United Kingdom University, making music and kind of trading/HODLing, and I don't pay taxes (yet) so I didn't even ask myself the question about this. I just pay all those fees from buying from X market or exchanging on Y exchange platform.. Buying BTC with fiat is such a pain.
Great value comment though!
participation will improve if it is taxed because it automatically gets the legal status
Great point!
Informative, thanks!
Thanks for sharing this great topic and i'm hoping to read more from you
The very good information you shared with this post. So it's actually learning post for newcomer also. I agree with this option('the buy-and-hold investment strategy') and I think it's the best idea.
Anyhow, thanks dear for this awesome post...
Great article...
I just released the results from my FREE trading fund...
Benkalashnikov Trading Fund Is +22% This Week (Beating Bitcoin) — Steemit https://steemit.com/bitcoin/@benkalashnikov/benkalashnikov-trading-fund-is-22-this-week-beating-bitcoin
Very informative, goind to look for part 1. awesome post!
hi
Follow the follow-up
Thanks for the follow up post. Very informative. I think that taxes is one thing that many people in crypto overlook, which may come back to bite them in the future.
Personally, I consulted a family member who works in the tax office (luckily!) and I will pay capital gains on my earned income through investing, and will have to declare trading income - so you are spot on!
Frankly, this was super helpful. Resteemed! Keep up the great work!