India’s 30% crypto tax came into law on March 31 and was effective April 1, despite warnings from several stakeholders about its possible ill impact on the budding crypto industry. As predicted, with...
Tag: Tax
Kazakhstan preparing to raise tax on cryptocurrency miners
Kazakhstan’s government is preparing to raise the tax burden on cryptocurrency miners, with the new rate tied to the value of the created cryptocurrency. The authorities in Nur-Sultan feel...
The Right Tax Treatment of Staking Rewards Is Clear: Taxation Only After Sale
This treatment is intuitive with respect to created property. We paint pictures, grow crops, mine raw materials, process raw materials into useful commodities, write essays and engage in countless oth...
Bitcoin Slips Below Support Level to $38.5K as US Tax Return Deadline Approaches
The leading cryptocurrency by market value fell to $38,577 during the Asian hours, a level last seen on March 15, according to CoinDesk data. Per analytics firm IntoTheBlock, $40,000 was important sup...
Is a Simplified Employee Pension (SEP) IRA Tax Deductible?
Payments made to a Simplified Employee Pension (SEP) IRA are tax-deductible for employers, but there is an annual limit on contributions. SEP IRAs are funded solely by the employer using tax-deductibl...
What to do if you can’t pay your taxes by tax day
With tax day approaching quickly, some Americans who owe may feel financially unprepared to pay their tax bill by this year’s April 18 deadline. Fortunately, the Internal Revenue Service offers severa...
Kazakhstan to implement a new tax system for Bitcoin miners
TL;DR Breakdown Kazakhstan`s Minister of National Economy reveals that the government is presently developing a new mining tax system. The newly imposed taxations could trickle down to crypto-miners m...
Taxes 2022: Last-minute tax filing tips
Tax day is right around the corner and if you haven’t filed yet, putting together your return in a rush may come back to bite you. “You should never rush through the process of having your tax return ...
Tax Audit By The IRS: Tips For Avoiding One
A tax audit can be painful, scary and costly. Naturally, you should make every legit effort to avoid one. So here are tips from leading financial advisors about how to do just that. X The risk-reward ...
Kazakhstan to Introduce New Tax Regime for Bitcoin Miners
The government of Kazakhstan is currently working on increasing the taxes on cryptocurrency mining, while expressing its intent to tie the new rate to the value of the minted cryptocurrency. In a rece...
Want to Dodge Your Crypto Tax? Learn the Risks From Koinly – Sponsored Bitcoin News
sponsored In recent years, the IRS has made one thing abundantly clear – if you make money from crypto, they want their cut. So if you’re underreporting or outright avoiding crypto taxes, be warned: t...
The mining tax law vacuum
Mining activities are not very popular in Italy and still represent a niche sector. The tax legislation does not yet provide a clear overall picture. What tax obligations are miners subject to in Ita...
Crypto wallet firm Ledger integrates tax solution to simplify reporting
Major cryptocurrency hardware wallet provider Ledger is moving to help crypto investors keep track of their taxes by integrating a new crypto tax-related solution. Ledger has partnered with cryptocurr...
India’s crypto trading volume plunges as new tax rules take effect
Crypto trading volume at India-based exchanges fell to its lowest levels in recent years after the country’s new crypto tax rules came into effect on April 1, according to data from crypto research fi...
I Bond hacks on tax returns and more as inflation hits 8.5%
A return to go-go inflation is lousy on the wallet but may be good for your tax refund. The U.S. inflation rate hit 8.5% in March over the past 12 months – the largest 12-month increase since December...
Indian crypto exchanges’ volume plunges down as 30% tax goes into effect
Fresh data on Indian crypto exchanges’ trading volume reveals a significant decline in trading practices among Indians just ten days after the tax rule implementation. India’s new 30% cryp...
Massive Decline in Crypto Trading Volumes on Exchanges in India Following New Tax Law
Crypto trading volumes on several crypto exchanges in India plummeted as much as 72%, possibly tied to a new 30% profit tax law. Crypto trading volumes in India have plummeted since April 1st followin...
3 Crypto Tax Tips to Avoid IRS Trouble
There are many different ways to earn crypto, including mining, airdrops, staking your coins or through earning interest. When you earn crypto in this way, you have ordinary income to report. The amou...
7 Common Crypto Tax Myths and How to Avoid Them
About the author Mackenzie Patel is CPA specializing in crypto tax and accounting. She’s a senior revenue accountant for Figment. With just over one week until the 2021 tax deadline in the U.S.,...
Panic Selling Grips India’s Crypto Market Following New Tax Laws ⋆ ZyCrypto
Advertisement     Multiple reports reveal a decline in crypto trading activity in India. This trend has been tied to the recent crypto tax rules in the country. Taxes ...
OK boomer, what’s your inheritance tax strategy?
In the 17 years David Hartles has worked as a tax planner, the age of clients seeking professional advice about inheritance tax has dropped. “Typically, it used to be people in their 70s and 80s who r...
Slovenia Introduces 5% Flat Crypto Tax
In a deliberate move designed to make the country embrace the digital currency space, authorities in Slovenia have announced a new flat tax plan for the country. The new flat tax, which was introduce...
States Continue To Take Steps Toward Income Tax Elimination
Mississippi capitol in Jackson getty Aside from death and taxes, the third certainty in life, at least in 2022, is that states are going to enact income tax relief. That was predicted in this space se...
Slovenia Unveils Plan for Flat Tax on Crypto Transactions
The proposed tax, which is part of the government’s post-COVID recovery plan, would be due when virtual currencies are sold or exchanged, and would be set at an effective rate of just under 5%. ...
It’s Tax Time Again. Do We Really Know What That Means for Crypto?
“It carries huge consequences for anyone engaging in mining or staking activities,” Dollar said. “If the IRS position is that it’s all taxable income at the time of creation, you’re currently taxed on...
Indian Parliament Member Insists Crypto Is Like Gambling — Wants to Tax at 50% – Regulation Bitcoin News
An Indian parliament member says crypto is like gambling and must be taxed at a very high rate, such as 50%. “We need to discourage and disincentivize” trading and investing in the asset class, he str...
Have fun AND retire rich — a great tax-refund life hack
For the 100 million of you who will get a tax refund this year, the former head of retirement solutions at J.P. Morgan has a great and very simple idea. Don’t spend all your refund. And don’t save all...