Taxes | Crypto Profit Bot

Australian Mayor downplays crypto volatility, recommends it for rates payments

June 6, 2022

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“The volatility is not that bad” – Australia’s Gold Coast Mayor suggests crypto could be used to pay local taxes in the future. 1107 Total views 24 Total shares Tom Tate, the Mayor of Gold Coast, Australia, has suggested that cryptocurrency could be used by residents to pay local taxes in future years, though critics […]

The new HM Treasury regulations: The good, the bad and the ugly

April 23, 2022

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As the 2021-2022 United Kingdom tax year finished on April 5, 2022, Her Majesty’s Treasury announced they were paving the way for the U.K. to become a global crypto asset technology hub. This could mean that the previously not particularly crypto-friendly U.K. is changing its strategy and trying its hand at making crypto investments more […]

Indonesia to impose 0.1% crypto tax starting in May: Report

April 1, 2022

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The government is still reportedly considering how to implement crypto taxes, but legislation passed in response to the pandemic laid the groundwork. 1310 Total views 19 Total shares The Indonesian government is reportedly planning to charge a 0.1% capital gains tax on crypto investments as well as a value-added tax, or VAT, on digital asset […]

Law Decoded: Crypto taxes and taxes on crypto, March 21–28.

March 29, 2022

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Some jurisdictions are introducing digital assets as tax payment options while others levy hefty taxes on crypto gains. 1408 Total views 18 Total shares It was relatively quiet in the digital asset policy department last week, as regulators and lawmakers in most key jurisdictions retreated to their offices to do the necessary homework. In the […]

Crypto tax rules will reduce US budget deficit by $11B over ten years — White House

March 28, 2022

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The budget from the Biden administration said modernizing tax rules to include digital assets will bring the government $4.9 billion in revenue in 2023. 1840 Total views 52 Total shares The United States government’s budget for the 2023 fiscal year included roughly $11 billion in revenue over the next decade from modernizing rules around digital […]

Is Austin the next US crypto hub? Officials approve blockchain resolutions

March 27, 2022

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Innovative cities across America are racing to become the next hot spot for cryptocurrency and blockchain adoption. Miami was the first city to adopt its own part of CityCoins last year, allowing it to implement its own cryptocurrency called “MiamiCoin” to be used for civic engagement. New York City has also made a name for […]

How to navigate cryptocurrency tax implications amidst the CPA shortage

March 8, 2022

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Cryptocurrency is a hot topic worldwide, especially with prices of Bitcoin (BTC), Ethereum (ETH) and other cryptocurrencies hitting higher thresholds and resulting in another banner year for investors. While the earnings look good on paper, one factor is often left to consider –– that is, crypto taxes. It is not uncommon for traders to take […]

Colorado governor says he expects state to accept tax payments in crypto by summer

February 16, 2022

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The governor added that paying taxes in crypto was the first step, with using digital asset payments for certain licenses to follow. 985 Total views 27 Total shares Jared Polis, the governor of Colorado, has announced that the state government plans to allow residents to pay taxes in cryptocurrencies as early as summer 2022. In […]

Law Decoded: Tangible wins, new menaces and the global crypto taxation drive, Feb. 1–7

February 7, 2022

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Crypto advocates celebrate wins, the Treasury and SEC seek to introduce crypto-unfriendly rules, and governments rush to levy digital asset taxes. 492 Total views 5 Total shares Every global event or major political crisis these days can trigger a digital asset-related conversation. As China welcomes the world’s top athletes to the Beijing 2022 Winter Olympics, […]

Coinbase users can receive US tax refunds in crypto as part of TurboTax deal

February 3, 2022

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The exchange said users could send the funds to their Coinbase accounts in fiat, or automatically convert it to crypto with no trading fees. 109 Total views 8 Total shares Tax filing platform TurboTax is allowing U.S. filers to get their refunds directly in crypto as part of an arrangement with crypto exchange Coinbase. In […]

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Category: Taxes