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I’m not a tax avoidance advocate but you really reported your few hundred in mining profits? In similar situations I’d wage 99% of miners don’t report and have
by usednet 4y ago
I’m not a tax avoidance advocate but you really reported your few hundred in mining profits? In similar situations I’d wage 99% of miners don’t report and have never had problems.
- themitigating 4y agoYou're reasoning for violating the law is that the probability if getting caught is low?
- 300bps 4y agoPretty much everyone uses this mentality with some law. Ever go 46 MPH in a 45 MPH zone?
- nightski 4y agoTax evasion and speeding are not in the same category of crime, not even close. One is generally an infraction (not even a misdemeanor) and the other is a felony.
- collegeburner 4y agofr speeding can cause injury to others especially when done more than a bit, unless you're a highly trained driver or smth. tax evasion causes no physical harm to anyone.
- deleted 4y ago[deleted]
- unethical_ban 4y agoEvading a few bucks from running numbers on your graphics card is not laundering money to fund trafficking or depriving schools of books.
- Dylan16807 4y agoIf it's a rounding error, then they're both negligible crimes.
- ar-nelson 4y agoWorth noting: I also reported a few thousand in trading profits, which were part of the same forms. So I couldn't just ignore crypto entirely on my taxes, and I used TaxBit to autogenerate the forms; it required everything in my transaction history to be accounted for, including all of the mining transactions.
- pjc50 4y agoYeah, this is another reason why so many people are suspicious of the push for "cash like" systems - like cash, they enable tax evasion. Which is one of those things we can each let slide for a bit on small amounts, but when it starts distorting the rest of the market we're not going to put up with.