Post
Topic
Board Bitcoin Discussion
Re: Bitcoin Tax Information - Interesting
by
vampire
on 18/04/2012, 00:54:38 UTC
If someone has a token amount of Bitcoin "income" (common definition not IRS definition) then it likely doesn't matter.  However if you have a significant amount it would be a good idea to consult with an accountant and tax professional.

The above post should be considered informational and not relied upon as tax advice.

Anyone who has any income or deductions that are BitCoin related should really consider getting A Lawyer's Take On BitCoin And Taxes which is 31 pages with 108 footnotes to statutes, cases, etc. The legal landscape is murkier than you may think and there are several reasonable approaches that can be taken and they can all lead to a different outcome having a massive effect on tax liability (or the opposite if you have other income to offset).

Huh a pay wall? Anyway I don't take gold bugs seriously. Anyways lawyers are usually completely clueless about tax laws, you need an accountant.