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RE: You Do Not Have to Pay Taxes on Cryptocurrencies Until You Sell Them
Beautiful, that's exactly what myself and @taoteh1221 were discussing here.
Beautiful, that's exactly what myself and @taoteh1221 were discussing here.
I noticed you guys were talking about being incorporated and stuff. If you are a 501(c)3 Religious Organization, and the Organization were to say buy a bunch of mining machines, or post members articles on the Organizations steemit account, and the coins are going to the Organization for Organizational use, it would not be taxed. Even after sale.
https://supreme.justia.com/cases/federal/us/397/664/case.html
And Corporations now have the ability to claim religious exemption as well.
https://supreme.justia.com/cases/federal/us/573/13-354/
A Judge in the Hobby Lobby case even said that allowing that ruling to pass through the Supreme Court was opening up a can of worms that would allow Corporations to basically claim exemption from anything they wanted, but it was still decided in favor of Hobby Lobby.
No way! Omg thank you for that case law! Wow, that's truly amazing I had no idea they let a Corp slip through. That really does sound like opening a can of worms to me. I'm gonna take a read thanks for that.
I've been using private trusts to funnel crypto around in private but moving it into public is where I pay a small amount of corporate tax, getting that down to zero would be awesome. Ohh thank you @marsresident I'm gonna give you a follow and any other tips and tricks you have I'm all ears. If you ever wanna have a nice law discussion on tax liability mitigation (or what ever) id love to have that conversation as well!