Post
Topic
Board Bitcoin Discussion
Re: Bitcoin is doomed. Thanks IRS!!! You Ass hats!
by
tvbcof
on 29/03/2014, 05:42:17 UTC
Having bitcoin classified as property rather than currency is the best possible scenario.  The capital gains tax rate is 0% for most people.  0%... hard to beat that.

0% for most people?
What is needed to go above 0%?
Sorry I have no idea.

In my non-professional understanding, one simply has to stay in the lower two tax brackets for earned income.  That could mean that one is basically forced to quit one's job.

It's also worth note that this is federal tax.  State tax is a different matter.  Looks like I'll be paying 9% in state taxes for instance.