5 Essential Tips for Preparing Your Cryptocurrency Taxes

Paying taxes on Bitcoin and other cryptocurrencies is becoming a priority for individuals in the US after the IRS announced on July 2nd, 2018 that one of their core campaigns and focuses for the year is the taxation of virtual currencies. Because cryptocurrencies are treated as property in the eyes of the law, they are subject to capital gains and losses rules just like stocks, bonds, real estate, and other forms of property. The challenge with cryptocurrency in regards to taxes is that the data making up your crypto buys, sells, trades, transfers, mining income, forks, splits, air drops, wallet

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We’re Freeriders: Facebook Co-Founder Chris Hughes, Worth $500 Million, Wants to Pay Higher Taxes

Facebook co-founder Chris Hughes is back advocating for higher taxes for wealthy Americans. This is not the first time Hughes is calling on the government to take a step to help low-income Americans trying to make ends meet. Hughes spoke on CNBC’s “Squawk Box” saying: As a member of that 1-percent, 0.1-percent, I can tell you, I can afford a little bit higher taxes, and it would make my life better. The point is clear — my taxes should be higher. Hughes, who is the author of Fair Shot: Rethinking Inequality and How We Earn has been an advocate for

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Want to Avoid Taxes for Life? Have 4 Children, Says Hungary’s Anti-Immigration PM

Having kids is hardly a walk in the park. Oftentimes it feels as if the only incentive in the incessant additional child caring workload is the occasional smile, cuddle, or unexpected kiss. Well, not in Hungary. Outspoken anti-immigration Prime Minister Viktor Orban is determined to raise the birth rate by waiving taxes completely for families with four children or more. In what sounds almost like gamification techniques for breeding children, controversial Orban announced a range of financial benefits for Hungarian families on Sunday. These include subsidized loans, help to buy houses and vehicles, and even the waiving of income tax

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Tax Nightmare: 10,000 Bitcoin Trades Net Swedish Man Nearly $1 Million in Taxes

By CCN.com: Linus Dunker, a Swedish crypto trader, was shocked to receive a bill for almost $ 1 million from the Swedish Tax Agency, claiming that the tax demand is “unreasonable.” The case is one of a growing number of cryptocurrency-related cases being taken up by the agency, with several bitcoin traders receiving tax bills for

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Chilean Citizens Will Begin Paying Cryptocurrency Taxes in 2019

Taxpayers in Chile are reportedly going to have to pay taxes on cryptocurrency earnings this year, as the country’s Internal Revenue Service (Servicio de Impuestos Internos, SII) has included a section for cryptoassets in a form that has to be filled on taxpayers’ Annual Income Tax Returns. According to local media, last year the country’s

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