Don't forget to pay taxes on your purchases! From every crypto purchase to physical goods you have to pay tax based on the fiat amount of the purchase
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Don't forget to pay taxes on your purchases! From every crypto purchase to physical goods you have to pay tax based on the fiat amount of the purchase
Perhaps I don't understand... so taxes aren't included in the checkout? You're stating that people need to remember to pay taxes separate from the item?
No. I think fatboy is reffering to the capital gains tax. Purchasing an item is basically saying your selling your bitcoin (or other crypto). So if you bought it for less then what it is worth when purchasing an item with it then it needs to be on your schedule D for US citizens. I use bitcoin.tax site. They can keep track of multiple cryptos and have different rules (like fifo, lifo) you can apply to determine capital gains.
Yes. At least that is law in Europe. It is the same taxable event as selling your stock
oh taxes on these too :(