Bitcoin Promo Code 2016

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Loophole Allows Tax-free Bitcoin Exchanges Into 2018

Bitcoin is generally purchased online. It is necessary to buy a prepaid coupon in cash from your local retailer (Neosurf coupons are accepted). After having verified your identity on Bitit, you will be able to buy up to 2500€/week of Bitcoin thanks to the cash purchases of the Neosurf prepaid coupons.

Loophole Allows Tax-Free Bitcoin Exchanges Into 2018 Opinions expressed by Forbes Contributors are their own. After December 31, 2017, it is clear that only real estate can be the subject of a tax-free 1031 exchange. A 1031 exchange is a swap of one like kind business or investment asset for another. The IRS treats most swaps are taxable as sales , so 1031 is an exception to the normal rule.The IRS says cryptocurrency is property not currency. So, many investors assumed that meant you could swap them tax-free under section 1031. Butwhether 1031 applied to cryptocurrency until year end is debatable.Some tax advisers say no,while others yes, provided that you did it all carefully. That carefully part turned out to be important. Some crypto investors bought and sold without trying toimprove the exchange optics. Whichever side of this debate you are on, the massive tax bill that was just passed limits 1031 exchanges to real estate. Yet even that new tax law is having a curious impact among crypto investors, who want to keep debating. Sure, the law now says 1031 is only for real estate. But does that change in the law strengthen or weaken the argument that 1031 can apply to crypto deals done in say 2016 or 2017? Some say the fact that Congress changed the law (prospectively) makes it clear that before the change in the law, crypto swaps were OK. Others say the reverse. It is not clear what the IRS will say. Whats more, there are at least some indications that theres a last ditch effort to do crypto deals before the end of 2017, including some that might be extended into 2018. The new law (saying 1031 is only for real estate) goes into effect for deals after December 31, 2017. However, the law says that, [A]n exception is provided for any exchange if the property disposed ofContinue reading >>

Paying Taxes On Bitcoin Isn't Nearly As Hard As It Sounds

Bitcoin has soared in value over the past year. Paying taxes on bitcoin may seem daunting to people selling off their investments. The reality is straightforward for most investors, based on how much you bought bitcoin for, how much you sold it for, and what you make in income. Bitcoin's incredible rise in value from just shy of $1,000 per bitcoin on January 1 to more than $19,000 on December 8 has likely caused many bitcoin owners to sell all or part of their investment. But as tax season approaches, it may not be immediately clear how the IRS imposes taxes on bitcoin: Are the gains considered income? Are they capital gains? Something else entirely? With some help from financial experts, Business Insider dug into the tax code to make the process of paying taxes on bitcoin as simple as possible. Before we get lost in a forest of jargon, here's a handy glossary for common tax terms, which in this case apply to buying and selling bitcoin: Capital asset: Basically anything you own, from a house to furniture to stocks and bonds - and bitcoin. Basis: The amount you paid to buy bitcoin (including any fees you paid). Realized capital gain or loss: The profit or loss you made when you sold bitcoin (i.e. the price you sold it for minus your basis). Losses can be deducted from your taxes (more on this below). Unrealized gain or loss: The profit or loss you have on paper but have not actually cashed in on. You do not pay taxes on unrealized gains until you sell, at which point it becomes a realized gain or loss. Short-term gain: Realized gain on bitcoin or any other investment held for one year or less before selling it. Long-term gain: Realized gain on bitcoin or any other investment held for longer than one year before selling it. Bitcoin investments are taxed as a capital asseContinue reading >>

Trumping The Irs: Could The Timing Be Right For Bitcoin Tax Reform? - Coindesk

Trumping the IRS: Could the Timing Be Right for Bitcoin Tax Reform? President Donald Trump's push to overhaul the U.S. tax code could include a potential payoff for bitcoin users. With the president and the Republican Party's sights set on tax reform as a way to send a strong message to voters ahead of the 2018 term elections, it's potentially a good time for a bill easing the tax reporting requirements for cryptocurrency to be included in a final package. Since the Internal Revenue Service's (IRS) 2014 decision that cryptocurrencies should be treated for tax purposes as property, the agency has been met with criticism for not adequately instructing consumers on how to report based on this conclusion. And the Cryptocurrency Fairness in Taxation Act (CFTA), introduced earlier this month, aims to push the IRS into doing just that. 'The bill is kind of a reaction to the 2014 IRS decision that classified cryptocurrencies as property, and that means they're subject to capital gains tax,' said Eve Lieberman, chief of staff to Representative Jared Polis, who withDavid Schweikert, introduced the bill. By aspiring to makecryptocurrency transactions under $600 exempt from IRS reporting requirements, the bill would also require the IRS to provide additionalguidance to customers on how they should report transactions above that threshold. Speaking at a recentworkshop on cryptocurrency taxation in Washington D.C., Lieberman said members of the Blockchain Caucus, which Polis and Schweikert co-chair, are strategically introducing the bill to the House of Representative's Ways and Means Committee (responsible for taxation matters)before the drafting of tax reform starts rolling. By getting the bill in front of Congress soon, the caucus believes they'll be able to get the bill into theContinue reading >>

2018 Cryptocurrency Taxes - Uncle Sam Screws Traders And Forgot About Bots

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10 Things To Remember When Filing Bitcoin Taxes

10 Things to Remember When Filing Bitcoin Taxes We're coming up to the tax filing deadline of April 15th. If you haven't yet started, just not clicked Submit or not put your return in the mail, here are 10 things individuals need to remember when including Bitcoins or other digital currencies in your tax return. 1. Gains are realized even if you never withdrew USD When you are trading Bitcoins or digital currencies on an exchange, each sell order must be included in your capital gains calculations, even if you never withdrew the dollars to your own bank account. If you received USD, another foreign currency, or even another digital currency, you have potential capital gains/losses. 2. Long-term gains have discounted tax rates If you sell or spend a Bitcoin that you can show you owned for more than a year, it is classed as long-term and any gains made will have favorable tax rates. The rate depends on your other income, but will wither be a flat 15% or 0%. There is a 20% rate for high income earners ($406,751 or more). 3. Losses can be offset against income to reduce taxes Short-term capital gains and losses are combined, then long-term gains and losses, and finally these totals are combined into a net gain or loss. If you have a net loss you can use it to deduct up to $3,000 taxable income per year, saving yourself $750 in taxes (25% tax rate). When you calculate capital gains the default and preferred method by the IRS is to use First-In-First-Out. This literally means that when you sell a Bitcoin you take the price of the first one you owned as the cost basis in order to calculate gains. There is something else called specific identification, where you choose which coin you want to sell. Some examples of this are Last-In-First-Out or Closest-First-Out. You might useContinue reading >>

Bitcoin Promo Code 2016 India

45% Off Bitcoin Top Promo Codes & Coupons For Mar 2018

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How I Turned $26.24 Into $1,000+ Ofbitcoin

How I turned $26.24 into $1,000+ ofBitcoin Without spending a single dime on Bitcoin The concept behind my idea was relatively simple. I wanted to use the $10 Coinbase referral program to offer my own Coinbase promo code . (Basically, when someone signs up for Coinbase and spends $100 USD, Coinbase gives you $10 USD worth of Bitcoin.) With the meteoric rise in Bitcoin and the ease of entry into Coinbase, I assumed that people would look for a Coinbase promo codes to buy bitcoin. To prove my assumption, I looked at the keyword volume on Goggle Keyword Planner and the popularity on Google Trends. Turns out, its a relatively hot topic. (I get 1k 10k a month isnt a ton of search volume, but its enough to move the needle for something like this.) So I decided to go for it. I created a URL where I shared my unique referral code. I then claimed some free advertising credits and ran some ads to my site directed at those looking to use Coinbase for the first time (the only way my referral code works). I used Google Domains coupled with Honey to get a significant discount from the original $12 price tag to a $1.24 domain registration fee. If you havent heard about Carrd on Product Hunt , I suggest you take a look. Basically, its the easiest one-page website builder in the world. I spun up a site for coinbasepromo.com using their super simple interface. I was able to make coinbasepromo.com in less than 15 minutes. All you need to do is Google Google AdWords and hit the first link. They should have the steps there to get your first $75 of Google AdWords money for free (when you spend $25). I made some general text ads in less than 10 minutes and pointed them to coinbasepromo.com Note: You can do the same thing on other platforms (e.g. Bing), which I still might do. Im just not asContinue reading >>

Bitcoin.tax And Turbotax : Bitcoin

Do not use URL shortening services: always submit the real link. Begging/asking for bitcoins is absolutely not allowed, no matter how badly you need the bitcoins. Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person accepting bitcoins on behalf of the charity is trustworthy. News articles that do not contain the word 'Bitcoin' are usually off-topic. This subreddit is not about general financial news. Submissions that are mostly about some other cryptocurrency belong elsewhere. For example, /r/CryptoCurrency is a good place to discuss all cryptocurrencies. Promotion of client software which attempts to alter the Bitcoin protocol without overwhelming consensus is not permitted. Trades should usually not be advertised here. For example, submissions like 'Buying 100 BTC' or 'Selling my computer for bitcoins' do not belong here. /r/Bitcoin is primarily for news and discussion. Please avoid repetition /r/bitcoin is a subreddit devoted to new information and discussion about Bitcoin and its ecosystem. New merchants are welcome to announce their services for Bitcoin, but after those have been announced they are no longer news and should not be re-posted. Aside from new merchant announcements, those interested in advertising to our audience should consider Reddit's self-serve advertising system . Do not post your Bitcoin address unless someone explicitly asks you to. Be aware that Twitter, etc. is full of impersonation.Continue reading >>

Coinbase Coupon: Get $10 Of Free Btc May 2018 Finder.com

It might not sound like much, but $10 is equivalent to a 1% commission on a $1,000 transaction. Thats more of a difference than youll find when comparing different exchanges. Its also bitcoin, so it might be worth a lot more than $10 pretty soon. On top of that, Coinbase is an extremely large, safe and popular exchange that offers several of the highest-market-cap cryptocurrencies, including bitcoin, Ethereum and Litecoin. If youre looking for somewhere to buy cryptocurrency, theres a good chance that youd end up at Coinbase anyway. You might as well sign up through here for some free bitcoin while youre at it. Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed. There isnt one. Offering freebies for new users is a common practice, and now its coming to cryptocurrencies. The above referral link offers the same deal as youll find all over the world, in any industry. It works exactly like a refer a friend deal. You will need to be a new customer signing up through the referral link. It wont work if you dont use the link. After clicking on the link, all you need to doContinue reading >>

Cryptocurrency Investors Lose Major Tax Break Under New U.s. Tax Code

Cryptocurrency Investors Lose Major Tax Break Under New U.S. Tax Code Matthew Neuteboom December 25, 2017 3:30 pm The new U.S. tax code amends IRC Section 1031 (a)(1) regardinglike kind exchanges, excluding all cryptocurrencies from a previous legal loophole and making all cryptocurrency trades a taxable event. On Friday morning, U.S. President Donald Trump signed a new tax bill into law, signalling the first major tax overhaul in the U.S. in over 30 years. And while you may or may not have high praise for the bill, one thing is certain: the new tax code is bad news for cryptocurrency investors . Starting Jan. 1st, 2018, all cryptocurrency trades will be a taxable event, including swapping one cryptocurrency for another. The recent overhaul amends a part of the tax code regarding exemptions for like kind exchanges, allowing investors to swap similar assets without triggering a tax event. These so-called 1031 exchanges have long been used by traders to exchange property, such as art or real estate, without having to pay taxes on it. Since March 2014, the IRS has treated Bitcoin and other digital currencies as property for tax purposes. This makes them subject to capital gains tax, requiring taxes be paid whenever crypto is exchanged for fiat currency (ie. cash). Coins held for less than a year are subject to regular income tax, which can range anywhere from 10 to 37 percent, depending upon personal income levels. Coins held for longer than one year are subject to long-term capital gains tax, which caps at around 24 percent. However, it has never been clear whether a trade between two different cryptocurrencies qualifies as a like kind exchange. Up until this point, cryptocurrency trades have typically resided in this legal gray area, granting most traders a loophole forContinue reading >>

Bitcoin Atm Discount Coupons! General Bytes

We are excited to let you know your ATM now has a nice way to offer discount coupons to your clients and yet again, GENERALBYTES is the first ATM manufacturer to do so. The new Coupons / Discount codeswill help you bridge the gap between your online and offline marketing efforts. Using coupons, you can offer newsletter subscribers a reward, have competitions online and offer coupons on sites like retailmenot.com, Twitter and Facebook. It's been a bit busy at support recently and we will be expanding our support team from July 3rd to help mitigate delays at support.We are currently the 2nd largest cryptocurrency ATM producer worldwide and wanted to thank you all for selecting GENERAL BYTES, it's your enthusiasm and support that keeps us going! The video aboveshows how to use the discount codes atan ATM location and the video below shows how to create thediscount codes in your admin panel. (Hint: Enable incrypto settings, create indiscount codessection) GENERAL BYTES bringsAndroid, Bitcoin and blockchain based technologies to new and unexpected places. Our mission is to become world's leading bitcoin and blockchain technology provider.Continue reading >>

Bitcoin Promo Code 2016 Free

Bitcoin Accountant Bitcoin Income Tax Crypto Tax

Complete your simple 2-step client on-boarding questionnaire. We configureyour data upload via API or CSV and prepare your standard return and 8949 form. Final call with your specialist to go over your return, sign, and submit to the IRS. Marios team at CryptoTaxPrep.com has taken the stress out of my crypto tax situation. Im now worry free. Ben Le Roux, Product Marketing Manager @ Google After understanding the process, it was fast easy and guaranteed! Very professional and made it very easy for me! Great experience! My bitcoin.tax reportwas way off and the team at CryptoTaxPrep.com was able to find the errors, and complete my return with accuracy. Efficient and nice to work with very professional! Aftertrying Cointracking.info and getting the wrong reports, I decided to use CryptoTaxprep.com. My experience was fast, easy, accurate. Complete your simple 2-step client on-boarding questionnaire. We configureyour data upload via API or CSV and prepare your standard return and 8949 form. Final call with your specialist to go over your return, sign, and submit to the IRS. Marios team at CryptoTaxPrep.com has taken the stress out of my crypto tax situation. Im now worry free. Ben Le Roux, Product Marketing Manager @ Google After understanding the process, it was fast easy and guaranteed! Very professional and made it very easy for me! Great experience! My bitcoin.tax reportwas way off and the team at CryptoTaxPrep.com was able to find the errors, and complete my return with accuracy. Efficient and nice to work with very professional! Aftertrying Cointracking.info and getting the wrong reports, I decided to use CryptoTaxprep.com. My experience was fast, easy, accurate. We love crypto! Thats why we have made it possible to purchase your Crypto Tax Prep + Accounting service wiContinue reading >>

How To Handle Cryptocurrency On Your Taxes

How to handle cryptocurrency on your taxes You sold some bitcoin. Now the IRS wants its cut. Before you jump into this explanation of how cryptocurrency affects your taxes, check out our first article in this series: Bitcoin, explained . It's been a wild ride for cryptocurrency enthusiasts over the past few months. After ascending to a high water mark of $19,205 in December 2017 , the world's preeminent cryptocurrency -- that's bitcoin -- shed more than half its value over the 60 days that followed. (As of mid-February, it's climbed back past $10,000.) Other virtual currencies, including Litecoin and ether , also saw precipitous drops. Now, in the wake of that dramatic swing, it's time to start thinking about taxes. The freewheeling universe of cryptocurrencies has so far mostly evaded the cumbersome, complex regulations customary in most other US financial markets. That's likely to change in 2018, however, given the SEC's closer scrutiny of virtual currencies . In fact, a number of state and federal agencies are increasingly concerned about the individual and systemic risks cryptocurrencies pose. Those range from good old-fashioned fraud to more novel cybercrimes, as well as the distinct possibility the government has forfeited massive amounts of tax revenue to this secretive market since 2013. The chairmen of the US Securities and Exchange Commission and Commodity Futures Trading Commission testified at a Senate hearing about virtual currencies in January. The attention is likely warranted. An SEC lawsuit filed against Coinbase last year revealed that fewer than 900 taxpayers reported gains related to bitcoin between 2012 and 2015, even though more than 14,000 Coinbase users recorded transactions of $20,000 or more during the period. Read: The IRS guidance on cryptocContinue reading >>

Bitcointaxes :: Calculate Bitcoin Taxes For Capital Gains And Income

Bitcoin Promo Code

Simply import details of any Bitcoins or alt-coins you have bought or sold from one of our supported trading exchanges, add any spending or donations you might have made from your wallets, any mined coins or income you have received, and we'll work your tax position for you. You can compare using different cost-basis methodologies, including FIFO, LIFO, and average costing, as well as comparing like-kind treatment. We'll show your Capital Gains Report detailing every transaction's cost basis, sale proceeds and gain. An Income Report with all the calculated mined values. A Donation Report with cost basis information for gifts and tips. And your Closing Report with your net profit and loss and cost basis going forward. Your Capital Gains are also ready to import directly into tax software, such as TurboTax and TaxACT, attach as a statement to your tax return or even print as a PDF. If you are looking for a Tax Professional You can visit our new Directory of Bitcoin Tax Professionals to help find Bitcoin knowledgeable tax accountants and attorneys for tax advice, tax planning or other tax services . Imports trade histories from these, and more, exchanges: Coinbase, Gemini, Circle, Bitstamp, BTC-e, Bitfinex, Kraken, or CSV Import spending from Coinbase, Core Wallets, Blockchain.Info and CSV Import income from Coinbase, BitPay, CEX.IO, or CSV Import mining income directly from addresses or CSV Review and monitor individual addresses * FIFO, LIFO, average costing or specific identification Download attachable statement or IRS Form 8949 PDF, import into TurboTax** and TaxACT Major world currencies: USD, GBP, EUR, CAD, AUD, SEK, NOK, BRL, SGD, CNY, JPY, CHF, HKD, RUB, ILS, KRW Bitcoin, Ethereum, Dogecoin, and other alt-coins *** Reports balances and remaining cost basis CalculContinue reading >>

Irs Now Has A Tool To Unmask Bitcoin Tax Evaders

Bitcoin Promo Code 2016 Printable

Want to read Slashdot from your mobile device? Point it at m.slashdot.org and keep reading! from the you-can-run-but-you-can't-hide dept. SonicSpike shares a report from The Daily Beast: You can use bitcoin. But you can't hide from the taxman. At least, that's the hope of the Internal Revenue Service, which has purchased specialist software to track those using bitcoin , according to a contract obtained by The Daily Beast. The document highlights how law enforcement isn't only concerned with criminals accumulating bitcoin from selling drugs or hacking targets, but also those who use the currency to hide wealth or avoid paying taxes. The IRS has claimed that only 802 people declared bitcoin losses or profits in 2015; clearly fewer than the actual number of people trading the cryptocurrency -- especially as more investors dip into the world of cryptocurrencies, and the value of bitcoin punches past the $4,000 mark. Maybe lots of bitcoin traders didn't realize the government expects to collect tax on their digital earnings, or perhaps some thought they'd be able to get away with stockpiling bitcoin thanks to the perception that the cryptocurrency is largely anonymous. 'The purpose of this acquisition is to help us trace the movement of money through the bitcoin economy,' a section of the contract reads. The Daily Beast obtained the document through the Freedom of Information Act. The contractor in this case is Chainalysis, a startup offering its 'Reactor' tool to visualize, track, and analyze bitcoin transactions. Chainalysis' users include law enforcement agencies, banks, and regulatory entities. The software can follow bitcoin as it moves from one wallet to another, and eventually to an exchange where the bitcoin user will likely cash out into dollars or another currencContinue reading >>