Bitcoin Is Not Anonymous And Is Always Taxable – Forbes
News December 27, 2013 Comments Off on Bitcoin Is Not Anonymous And Is Always Taxable – Forbes 18Bitcoin is surrounded by questions. While I can’t answer most questions, I can answer the questions related to tax. The most important answer is yes – bitcoin is entirely taxable and no it is not anonymous.The beauty of bitcoin is that it’s distributed and there’s a public record of every transaction. Thus, every transaction is always recorded. It’s like an accountant’s wet dream – debits and credits everywhere. Some may say that their identities are “hidden” or “obscured,” but that really doesn’t matter unless you’re actively trying to hide the fact that you earned income. If so, then we’re talking about something entirely different. That is tax fraud – plain and simple. You’re attempting to defraud the government of its fair share of your gains.
according to Cameron Keng in Bitcoin Is Not Anonymous And Is Always Taxable – Forbes.
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