A Simple Formula to Calculate How Much Tax You Owe on Your Crypto
I'm sure most of you will have learned of the new tax laws relating to cryptocurrency. With every single trade now considered a taxable event, calculating how much you owe for each one in your national currency will prove a very difficult for task, especially for day traders.
I have taken the liberty of drawing up a quick formula that you can make use of to determine how much tax you owe to your government. This method will work regardless of how often you trade, or how much crypto you own.
The Method
I am not telling you not to pay tax, that is on you. All I am saying is that paying tax of your own volition is akin to paying for your rapist's penis-enlargement surgery. Let's stop making it easier for them to fuck us, eh?
I feel I should say that, you might go to jail if you don't pay tax. I am prepared for that, and have been for a long time. I hope anyone who may be inclined to make use of this formula is too.
Taxation is theft.
Thank you so much. I was just thinking about taxes, like a responsible citizen that I am. However, I think you forgot to mention when are the taxes due. I searched for a few hours on the Internet and it seems it's 90 days after hell freezes over.
hahaha, excellent!
I thought this was a serious article...Lol...pleasantly surprised to find otherwise. Give unto Caesar what is Caesar's, right. Well, none of my crypto has Caesar's face on it...or the ugly mug of the queen of england, so shove off says I!
righhthttt?
While reading the first two paragraphs I thought this post was serious and was gonna mention in my comment how it differs from country to country and that you should specify which country you're focusing on...
...then I saw the actual 'formula'. Nice play, my friend. :)
Lol. Yes, that was my intent. I feel things hit you harder when you're not expecting them, which is useful for both the comedy aspect of the post, and the message.
When it comes to you, I always expect the unexpected!
Are you saying that my unpredictability has become predictable?
Oh dear, I guess I am......are there penalties for that?
Yes. Get your gloves on. You're in goal.
I second that!
I can relate :))
I believe the DOD should be audited before I give one more dollar to The US govern-cement.
do you think they can account for every spending :D yeah I'm seconding you on that, so many planes and drones just to money launder and improve technology probably :D
Do you know how much paper work has to be filled out for requisitioning ANYTHING in the military? That they couldn't provide a paper trail means they are doing shady things. And, they really shouldn't be doing so.
Good stuff my friend. The sooner the scardey cat victim mentality is eradicated, the sooner we can start fighting back 'en masse' against the 'bankers'.
hahaha I was going to comment that! nice formula.
Taxes... because using words like strong arm robbery and extortion lack the luster of legitimacy needed to convince anyone that they "owe" anything.
Great non advice that everyone should follow.
if someone asks you about taxes, tell them to make a steem account and that you will upvote them :D and follow for follow :D
I owned and run a company in the UK years ago
FTG ltd.
(Fuck the government)
Never paid a penny on tax just changed address every so often
Fuck those thieving bastards if all politicians were executed the world would be a better place!
P.s. same applies for bankers!
P.s. oops didnt notice from when the post was lol.
Lol. I had a team on Halo 3 a decade ago whose gamertags all began with FTG. It was my choice, and I'm sure you can guess what it stood for.
That was about the time I ran that company :)
HAHHAHA omg, I was like shit, this seems redic but ima read it anyways incase it tells me something useful about not paying taxes, and voila! Fuck it all, if the government wants my money I want them to be held accountable for their bullshit! That aint happening yet lol soooo, let the free internet and decentralized blockchains be free!
Well said I agree with you. I hope this never happens.