Post
Topic
Board Bitcoin Discussion
Re: Bitcoin payment laundering in order to avoid taxation
by
EarnOnVictor
on 29/12/2022, 10:01:52 UTC
Hello I have started accepting payments with bitcoin due to its anonym state. Should I state them at my taxes as payments? Should I just spend them as a bitcoin on groceries and under 1,000 payments? Also, is it worth it to take them in cash using a crypto atm? What is my best option to not get this money tracked and taxed?
My simple advice to you in this regard is that you should be transparent about this as possible you could. Let me start by saying that it's the fault of the government of many countries for not making the adequate provision for a thing like this so that they could genuine tax transactions as it's being made. Instead, they are fighting crypto which supposes to earn them more revenue.

As this is not your fault and there are no adequate provisions by law in this regard in most cases, just continue with your business and let your bank tax you only when you move monies from crypto to fiat.