Quote:
Originally Posted by L-Pink
Right from the IRS ?????...
"Almost everything you own and use for personal or investment purposes is a capital asset. Examples include a home, personal use items like household furnishings, and stocks or bonds held as investments. When a capital asset is sold, the difference between the basis in the asset and the amount it is sold for is a capital gain or a capital loss"
Your customer either made or lost money on their bitcoins and buying something from your company in no way negates any tax owed.
.
|
The main thing you negate to mention, is that household furnishings, and stocks and bonds are purchased with fiat currency. Bitcoin is an algorithm. Bitcoin is not legally a currency - by definition - until it is traded for a fiat currency.
OK ... so hypothetically, your neighbor has a lawn mower that is broken. You know how to fix it, and you do so. Your neighbor in appreciation for your fixing his mower, agrees to mow your lawn 3 times .... are you honestly telling me that you pay taxes on that exchange of services? C'mon man!
People talk a big game from the protection of their keyboards, but thus far all you have done is tried to defame my company.
Unless you can back up your claims, that you have proof of any tax evading activities, I suggest it is not in anybody's interests to be making unfounded accusations against fellow board members.
Cheers!