Tax

331 High-Income Traders Declared Crypto Profits in Japan

4 weeks ago admin2 Comments Off on 331 High-Income Traders Declared Crypto Profits in Japan
Taxes The Japanese tax authority has for the first time revealed the number of high-income taxpayers who declared cryptocurrency profits in the year 2017. Out of the total number of taxpayers with miscellaneous income of 100 million yen or more, excluding public pension, 60% of them reported income from crypto transactions. Also read: Yahoo! Japan Confirms Read More

Thailand Commences Cryptocurrency Regulations Today

1 month ago admin2 Comments Off on Thailand Commences Cryptocurrency Regulations Today
Regulation The decree to regulate cryptocurrencies and initial coin offerings in Thailand goes into effect on Monday. The government has also revised the country’s tax code to add crypto taxation. Sellers of digital tokens will face a fine or even jail time if they fail to register with the regulator within 90 days. Also read: Yahoo! Read More

Hobbyist in Hell: Tracking My Crypto Assets for the Taxman

2 months ago admin2 Comments Off on Hobbyist in Hell: Tracking My Crypto Assets for the Taxman
Chandan Lodha is co-founder at CoinTracker, a portfolio and tax manager for cryptocurrency. He can be reached on Twitter here. The following article is an exclusive contribution to CoinDesk’s Crypto and Taxes 2018 series. As a hobbyist investor, my first foray into cryptocurrency was with Coinbase. I was buying a few coins here and there, and Read More

Poles Protest Unfair Taxation of Crypto Incomes and Profits

3 months ago admin2 Comments Off on Poles Protest Unfair Taxation of Crypto Incomes and Profits
Taxes A decision by the Polish government to tax crypto transactions, even those that do not return profit, has provoked discontent among traders in the country. The local crypto community has decided to protest against the official stance of the Finance Ministry with an online petition which is gathering support. Taxes on crypto-related income in Read More

Making the Most of Crypto Mining Tax Breaks

3 months ago admin2 Comments Off on Making the Most of Crypto Mining Tax Breaks
Mario “The Problem Solver” Costanz is a lifelong entrepreneur and the author of “Crypto Taxes Made Happy: The Definitive How-To Guide For Preparing Cryptocurrency Tax Returns In The United States,” available for free on Amazon. He was named to the “One to Watch” section of Accounting Today’s 2017 Top 100 Most Influential in Accounting List.  Read More

Five Steps to Stress-Free Crypto Tax Accounting

3 months ago admin2 Comments Off on Five Steps to Stress-Free Crypto Tax Accounting
Sonya Baumstein is a crypto-accounting veteran at New Alchemy, a strategy and technology group focused on blockchain innovation and tokenization. The following article is an exclusive contribution to CoinDesk’s Crypto and Taxes 2018 series. With tax season upon us, the meteoric rise of cryptocurrencies may become a double-edged sword for participants in the United States. As crypto Read More

Arizona’s Crypto Tax Payments Bill Is Being Revamped

3 months ago admin2 Comments Off on Arizona’s Crypto Tax Payments Bill Is Being Revamped
Arizona’s cryptocurrency tax payments bill is being reworked, according to one of its sponsors, with the hope of putting it forward for a vote in the coming weeks. In an interview with CoinDesk, Arizona Representative Jeff Weninger detailed the work being done on the measure, which, as previously reported by CoinDesk, would allow residents in Read More

Spain’s Tax Authorities Seek Crypto User Names and Bank Accounts

3 months ago admin2 Comments Off on Spain’s Tax Authorities Seek Crypto User Names and Bank Accounts
Spanish tax authorities have sent requests for information on cryptocurrency investors to over 60 companies, a source at the country’s tax agency confirmed to CoinDesk following reports in local media. According to the source, authorities have contacted 16 banks, around a dozen cryptocurrency exchanges and companies operating cryptocurrency ATMs and more than 40 businesses that Read More

How Active Crypto Traders Can Save on US Taxes

3 months ago admin2 Comments Off on How Active Crypto Traders Can Save on US Taxes
Robert A. Green is a CPA and managing member of Green, Neuschwander & Manning, LLC in Connecticut. The following article is an exclusive contribution to CoinDesk’s Crypto & Taxes 2018 series. A number of cryptocurrency traders in the U.S. are facing a tax trap. They had massive capital gains in 2017 and have not yet Read More

Australia Seeks Public Input on Crypto Tax Guidelines

3 months ago admin2 Comments Off on Australia Seeks Public Input on Crypto Tax Guidelines
Australia’s government wants to hear from the public about its tax treatment of cryptocurrencies. The Australian Tax Office (ATO) said Monday that it has updated its guidelines for cryptocurrencies on Mar. 13, following an increase in queries from taxpayers. As a result, officials have launched a public comment process in order to “understand practical issues experienced Read More