Hedraios on Nostr: For me, spending bitcoin is more about the decision it makes me face: > Am I willing ...
For me, spending bitcoin is more about the decision it makes me face:
> Am I willing to ignore tax law in my jurisdiction? <
If not, I then have to treat my every Bitcoin transaction as a taxable event, requiring me to know and document the cost basis for every sat, and self-reporting this on a complex and obscure tax form that is likely to raise red-flags and the attention of the tax authorities who demand and enforce capial gains regulation.
Published at
2024-06-21 15:39:29Event JSON
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"pubkey": "0ace5084321584fc67174b6ed498d2f033f4398a229e679785388bb4de5a460c",
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"content": "For me, spending bitcoin is more about the decision it makes me face:\n\n\u003e Am I willing to ignore tax law in my jurisdiction? \u003c\n\nIf not, I then have to treat my every Bitcoin transaction as a taxable event, requiring me to know and document the cost basis for every sat, and self-reporting this on a complex and obscure tax form that is likely to raise red-flags and the attention of the tax authorities who demand and enforce capial gains regulation.",
"sig": "870acfbf6c1defbb96e48d8afb841a9cc46475a8e000db5c9a674e5e8ec508468233023ccae2503e6c7356b410f845eae157fff15266941d09ded0003fa7d037"
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