Taxes on Bitcoin

Taxes on Bitcoin

Since you pay fees for each time you withdrawal and you pay fees to make the trades and you pay fees at the atm or otc. Heck, it seems the higher the fees the less it is worth messing around. You pay roughly 30% income tax so how much is it worth for you to make it legit? Giving a cut to the taxman allows you to use the money on legit purchases like a business or a house. It allows you credit and access to lower interest rates as well. Of course the obvious as well "you can get a criminal record and even go to jail for tax avoidance". Did you know that in Canada you get more time for tax avoidance then manslaughter? Keeping in mind that Canada is pretty slack compared to other countries. It seems that the scales are getting really close right now so why bother?

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