Colorado’s governor just announced that the state will begin accepting BTC for taxes this summer.
In other words, trigger a taxable event in the process of paying your taxes.
OK, OK, so you only pay your taxes once a year or a few times a year. But one of the biggest problems with bitcoin is that every expenditure is a taxable event. Think of how complicated your tax returns would be if you paid all your bills with bitcoin.
one of the biggest problems with bitcoin is that every expenditure is a taxable event.
Because bitcoin isn’t money.
No matter how many proponents claim it is money—it’s not.
From BreckHutHigh, a very interesting and expansive blog post with many links to related links, etc.
Thought it merited reposting since I couldn’t recommend it again.
I thought I posted about once, already, but maybe some content was flagged for some reason?
https://blog.dshr.org/2022/02/ee380-talk.html
For info, it beat the Youtube hucksters with their flying coins!
Thanks for this.