Post
Topic
Board Legal
Re: How Will the IRS Tax Bitcoin?
by
Raize
on 06/01/2014, 06:34:21 UTC
I was a CPA for over 10 years working in an International Firm
and an NYSE listed bank. I am also a miner. I've been a corporate
CFO and COO over 20 years since then….

Thanks, and I seriously mean thanks for contributing. You and hanwong's comments are both appreciated.

I do trust my tax advisor to handle this professionally and I actually spoke with her this weekend about it, but I can tell you there's not only a dearth of people informed on how to do this, but a dearth of accountants that are *willing* to do it, so the fact that you're willing to provide any advice at all, with or without the disclaimers is beneficial.

I don't think Goat or I really have any animosity toward the IRS itself, but I, at least, feel like if those with billions of dollars in assets, like the Warren Buffets of the world get to talk like they aren't being taxed enough while still setting up charitable trust funds with billions in holdings for their kids, there's definitely a double-standard going on. It's like they want the rest of us to be punished for not taking advantage of loopholes which they consistently abuse. I don't want there to be loopholes I have to pay to take advantage of, I'd rather see a system where everyone just pays a set rate and the gov't doesn't pick who gets credits and who gets subsidies.

I believe that's probably the biggest problem with fiat, anyway, the way it's been gamed. Anymore the amount of paper with numbers on them you hold is meaningless, it's the power with which you wield it that matters. I'm not sure why this ruse wasn't uncovered earlier, honestly. We owe Satoshi a lot more than we think.