Taxes | Crypto Profit Bot

Tennessee city wants to accept property tax payments in Bitcoin

July 16, 2021

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Jackson Mayor Scott Conger believes that Bitcoin is the only solution to fix inflation and the U.S. dollar devaluation. 461 Total views 6 Total shares United States’ city of Jackson, Tennessee, continues exploring a potential dive into cryptocurrencies, now looking to accept Bitcoin (BTC) for property tax payments. Jackson Mayor Scott Conger announced late Thursday […]

Hungary plans Bitcoin tax cut as part of economic recovery program

May 11, 2021

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Lawmakers are reportedly planning to cut taxes on Bitcoin gains in half, possibly as early as 2022. 1361 Total views 9 Total shares Cryptocurrency investors in Hungary could be getting a major tax break very soon, as lawmakers seek to make the central European country more competitive in the wake of the Covid-19 pandemic. In […]

Indonesia considers capital gains tax on cryptocurrency trades

May 11, 2021

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A new capital gains tax scheme on crypto trades is still being discussed, according to a tax official. 14430 Total views 29 Total shares Neilmaldrin Noor, a spokesperson for the Indonesian Directorate General of Taxes, said that the authority is considering a tax scheme for capital gains generated from cryptocurrency trades, Reuters reported on Tuesday. “It is […]

Indonesian regulators consider tax on cryptocurrency transactions

April 27, 2021

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Officials are considering a tax on all cryptocurrency transactions in Indonesia. 6503 Total views 42 Total shares Indonesia’s Commodity Futures Trade Regulatory Agency, also known as Bappebti, is considering levying a tax on all cryptocurrency transactions taking place on regulated exchanges within the country. Currently, 13 cryptocurrency exchanges fall under Bappebti’s regulatory oversight, and the […]

NFTs and US taxes: What you should know

April 24, 2021

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Seems like we now all have stories starting with, “What I did during the pandemic…” Most begin with cleaning out the closet and, hey, guess what? That’s where my story starts, but I bet you can’t guess where it ends! Let’s start with what I found in that closet: family photos before the days of […]

More IRS summonses for crypto exchange account holders

April 18, 2021

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The United States Internal Revenue Service has been hunting crypto vigorously for more than five years now, and the pace is getting faster. A couple of decades ago, the IRS was after offshore accounts, and that effort was among the most successful in the IRS’ history. Now, it’s crypto the IRS is after, and there’s […]

The crypto FBAR: Implications beyond

April 17, 2021

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The United States Department of Treasury is again sharpening its sword upon crypto. In January 2021, the Department of Treasury’s Financial Crimes Enforcement Network issued Notice 2020-2. The Notice states that FinCEN intends to amend its regulations concerning the reporting of foreign financial accounts to include digital currency as a type of reportable account. In […]

Miami commissioner wants to let residents pay taxes in Bitcoin

April 15, 2021

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A new resolution would establish a task force to study crypto in Miami-Dade County’s public administration. 6415 Total views 47 Total shares A Miami-Dade County commissioner is backing a new resolution to allow residents to use cryptocurrencies like Bitcoin (BTC) to pay local taxes. According to a Thursday document acquired by the Miami New Times, […]

The ‘inhospitable to capitalism’ US can target those ditching dollar for Bitcoin — Ray Dalio

March 16, 2021

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Investors should reduce dollar exposure, the billionaire says, as MicroStrategy’s Michael Saylor describes Bitcoin as the “obvious solution.” 14160 Total views 48 Total shares The United States and other countries could “impose prohibitions” on Bitcoin (BTC) as part of “shocking” tax changes, investor Ray Dalio has warned. In his latest article on LinkedIn, Dalio — […]

Kentucky bill to provide tax breaks for local crypto miners

March 3, 2021

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Kentucky needs to attract more crypto mining businesses by offering tax breaks, local lawmakers believe. 8374 Total views 36 Total shares Lawmakers in Kentucky are looking to impose tax breaks for local cryptocurrency miners. Kentucky lawmakers on Tuesday approved several state tax breaks including House Bill 230, which would remove the sales tax from electricity […]

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Category: Taxes