TurboTax Online, a U.S. tax preparation software, adds crypto tax calculation to its services
Powered by WPeMatico
Auto Added by WPeMatico
TurboTax Online, a U.S. tax preparation software, adds crypto tax calculation to its services
Powered by WPeMatico
During the first week of the new year, two U.S. representatives from New Hampshire, Dennis Acton and Michael Yakubovich, proposed a bill that would allow the state’s residents to pay taxes with cryptocurrencies. Now after some deliberation, New Hampshire’s House Subcommittee unanimously approved the state’s bitcoin for taxes bill. Also read: US State of Ohio Accepts […]
The post New Hampshire House Subcommittee Approves Bitcoin for Taxes Bill appeared first on Bitcoin News.
Powered by WPeMatico
Cryptocurrency’s resistance to government control is countered by the fact that a number of governments, including Chile, Romania, Spain and South Africa, are looking to cash in by taxing crypto assets. These countries are crafting laws that bind citizens to annually disclose cryptocurrency investments that, in some cases, are held at home and abroad, and […]
The post Cryptocurrency Is Providing a Lucrative New Revenue Stream for Governments appeared first on Bitcoin News.
Powered by WPeMatico
Using its excess energy generating capacity to mine cryptocurrencies, Russia can increase its budget receipts by more than $1 billion dollars in annual tax revenue. The estimate comes from a report that also calls for the establishment of a Russian crypto valley. Also read: Defying Crypto Winter, Swiss Crypto Valley Grows to 750 Companies […]
The post Crypto Mining Could Bring Russia $1B in Taxes, Report Suggests appeared first on Bitcoin News.
Powered by WPeMatico
Filing taxes can be tricky and in jurisdictions like the United States is notoriously complicated. But when cryptocurrencies are added to the equation things start to get even harder. Many aspects of the reporting of crypto income and profits are not yet clearly defined. However, a number of tax filing and calculation tools are trying […]
The post These Tools Will Help You Calculate Your Crypto Taxes appeared first on Bitcoin News.
Powered by WPeMatico
U.S.-based crypto exchange Coinbase has added new resources for users on how to claim crypto transactions on their yearly taxes
Powered by WPeMatico
The authors of a New Hampshire bill on crypto payments aim to make the local government more progressive on the topic
Powered by WPeMatico
Security entrepreneur John McAfee flees alleged IRS indictment, plans to run for U.S. president from a boat
Powered by WPeMatico
Romania has amended its tax laws, allowing it to start taxing gains from bitcoin investments at a rate of 10 percent. The improved fiscal code legislation categorizes earnings generated from buying and selling cryptocurrencies as “income from other sources” and therefore subject to income tax, local media reports. Also read: Falcon Private Bank Launches Crypto Wallet […]
The post Romania Imposes 10% Tax on Cryptocurrency Earnings appeared first on Bitcoin News.
Powered by WPeMatico
According to local media, a Swedish cryptocurrency trader is anticipating receiving a tax bill of approximately $1 million after conducting approximately $2.9 million worth of trades across tens of thousands of transactions made since 2014. The trader claims that the tax bill will equate to 300 percent of the profits he has earned rather than […]
The post Swedish Trader Expects to Pay 300% of Crypto Profits to Tax Agency appeared first on Bitcoin News.
Powered by WPeMatico