Quote from: -ester on March 30, 2016, 12:05:54 AM

The questions I ask are probably going to sound incredibly stupid, but I'm new to bitcoins so excuse me Embarrassed

I'm getting into bitcoins essentially because I want to save money on ModafinilCat, but I'm confused about taxes.

1. If I make bitcoins by doing survey's and only use what I gain on ModafinilCat, am I liable to be taxed?
2. Is it possible that I'll go into bitcoin debt due to taxes?
3. I can't be taxed if I have a grand total of 0 bitcoins, can I?
4. Do I need to keep a fancy log or have a bitcoin tax calculator? (Considering I'll only be making purchases off ModafinilCat)

Yeah yeah I'm an idiot but answer the questions anyway Kiss

thanks haha

1. If you have a account where you put your real name and such in, they will probably ask you to fill in your tax info when you've reached the amount that you need to pay taxes at for the year.
2. No, there are transaction fees, but no taxes on bitcoins.
3. There is no tax in the first place, so no.
4. Probably not.