Income Tax on Cryptocurrency Bitcoin (from a Certified Financial Planner)

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Cryptocurrency tax software takes care of your income tax on bitcoin and cryptocurrency so that transactions can be tracked automatically instead of manually - track it wrong, you can be hit with tax penalty!

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0:00 Income tax on bitcoin & cryptocurrency
0:30 Bitcoin taxable coz it's treated as an asset class?
1:00 Bitcoin not taxable if treated as medium of exchange
1:23 Crypto currency vs Fiat currency capital gain or loss
1:45 Scenario - huge profit from bitcoin -taxable?
2:05 Why government want to tax your bitcoin profit
2:42 Tax residency determine your bitcoin or crypto currency tax
3:11 When to pay your bitcoin income tax to tax authority?
3:30 What are bitcoin & cryptocurrency taxable events?
4:48 What are bitcoin & cryptocurrency non taxable events?
5:35 How to determine income tax payable for bitcoin profit
6:27 Avoid (not Evade) Bitcoin Tax like a BOSS!
7:20 Checklist - 9 Things to Confirm for Zero Bitcoin Tax

US short term + long term capital gain tax: https://www.irs.gov/taxtopics/tc409

Cryptocurrency can include:
1. Litecoin
2. Namecoin
3. Peercoin
4. Dogecoin
5. Gridcoin
6. Primecoin
7. Ripple
8. Nxt
9. Auroracoin
10. Dash
11. NEO
12. MazaCoin
13. Monero
14. Titcoin
15. Verge
16. Stellar
17. Vertcoin
18. Ethereum
19. Nano
20. Bitcoin cash

*****
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#cryptocurrency #btc #howtoavoidpayingtaxesoncryptocurrency #howtonottpayttaxesoncrypto
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