Time to consider Lobbying for Cryptocurrencies?

in #taxes4 years ago

It is now tax season. I am concerned about taxes on crypto and the government wanting to know more about how much bitcoin investors have. It is actually now a crime to not disclose this information. I was just thinking what we need in this space maybe some lobbying in DC.
If this technology is ever going to grow into anything, they need to not tax especially for say buying of everyday goods and services such as food or whatever.

Screen Shot 2021-04-04 at 10.20.42 PM.png

Crypto is a sector that is growing and will continue to grow. It will continue to be a big player in any country's economy. We need less stringent tax laws. Maybe they will be more "fair" when crypto grows even big enough to be a real significant impact on the economy.
This year i started using my cash app to save bitcoin. I did sell it when i had a little need for extra income like when my car started giving me trouble and stuff like that. I know i will probably pay what, 30-40 % tax on about $2000 worth of bitcoin sold. Its not too bad but i just feel like the Fed is hungry for crypto money.

Can we all talk about taxes . Is anyone worried about the new requirement when we fill taxes this year to state how much crypto you have. I feel like that is quite an invasion of my business. How are you guys going about this?

Sort:  

You are saying right really time iconsdering .

I am here I miss you my post thanks

Coin Marketplace

STEEM 0.21
TRX 0.20
JST 0.034
BTC 98914.40
ETH 3374.27
USDT 1.00
SBD 3.08