Do you own or want to own Bitcoin? Your going to need to do your taxes then. With differing regulation from each country, it’s hard to figure out how to properly do your taxes. The last thing you need is the government after you for tax evasion.

Hi there! Bitcoin Tax Blog provides all the information you need to properly do your taxes. We cover a large number of countries, as well as how to handle other currencies besides the popular Bitcoin – such as Ethereum.

Basically…

If you do simple jobs for Bitcoin, you are required to report that as income. Although if you don’t, the government probably won’t catch you. For people who want to stay within the law, this blog is perfect for getting to understand how Bitcoin taxation works. If you own a major corporation, you’ll be properly doing you taxes though. And we’re here to show you how.

Interestingly, taxation of Bitcoin is still relatively new – since the currency itself is new. Many of the issues discussed here are rather tricky, as there are many countries with differing views on how Bitcoin should be treated. Some countries have chosen to treat it as a foreign currency, a commodity, or have outright banned it.

If you’re an Investor…

Let’s take a guy named Joe Schmoe who lives in Canada. He bought 2 Bitcoins at $100, and his investment has reached $850 – the current market price. He must claim the profitsĀ as capital gains. In this case, it would be a capital gain of $1500 (two btc profits).

If you pay people with BTC…

You still need to report these transactions. Read more or search on our Bitcoin Tax Blog to find out more!