Quote:
Originally Posted by MaDalton
Do you file invoices with your local tax office?
So how would i do it - either i send my client an invoice for 100 bitcoins, then the czech tax office declares me insane.
Or i send him an invoice for $100 which he pays with the at that time equivalent in bitcoins but when i cash them out, i will never receive exactly $100 and my tax accountant will declare me insane.
On top of that most of our clients are real companies that file our invoices as well and as far as i can see, bitcoins will never be an internationally accepted currency.
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it shouldn't be much different than doing business in USD (or any other currency), but paying taxes in your local currency CZK(?)... people do business in other currencies all the time, there are accounting rules to make it all work correctly...
so there is nothing really illegal from accounting point of view about doing business with bitcoins, but you are right, you would probably get audited right away if you put "bitcoins" on any tax form... it has drama written all over it...