Quote from: bbeagle on April 16, 2014, 01:59:45 PM

Quote from: turvarya on April 16, 2014, 01:53:17 PM

Ok, so you guys don't pay taxes, because you want to save the world, not because you want to keep the money?
That's really nice of you ...

(No, wonder the USA is going to shit)

It's a lot easier to pay taxes now on the mined bitcoins from previous years when the bitcoins weren't worth much. It's only a few hundred dollars. Then, in the future, when cashing out the btc, I won't have to worry about questions like 'where did I get the btc' 'why didn't you report it'. etc. etc. I might never be audited or asked, but to me, it's so little that it makes me feel better. Like buying insurance for my laptop. I don't need to, but it makes me feel better.

A few hundred dollars is 'nothing' in the scheme of things. It all depends what a few hundred is worth to you. To me, it's less than 0.25% of my income, so I don't mind to feel safe. It's not worth it to risk a quarter of a percent on much larger hassles to fight the IRS or pay penalties down the road.

Jeez I only made $2400 this year before taxes. Then again im 15.