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BANKING ON BITCOIN this documentary, its great!

February 19, 2018

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Think You Can Hide Capital Gains in Alt-Coins? Think Again…

Cryptocurrency traders who thought they were pulling a fast one on the taxman in the US might be about to get a severe wake up call. Those Bitcoin investors in the US who think they’re outsmarting the IRS by trading funds to other digital currencies rather than back to dollars could be in for a nasty surprise. Under GOP tax bill that is due to be voted upon next week, law makers will draw a distinction limiting “like-kind” exchanges to real estate. It’s been argued by some that using Bitcoin or any other digital currency to purchase a different crypto should be treated the same as a 1031 exchange. This allows taxpayers to exchange one type of asset to another without it being deemed a taxable event. Since the IRS considers Bitcoin as property rather than currency, it was thought that digital currencies could be considered as “like” assets. Evan Fox, the tax manager at New York accounting firm Berdon gave his opinion on the matter to CNBC: “Some people think, ‘I’m taking

China says Australia disrupting 'stability and peace' in South China Sea; build-up on islands continues

China 'continues to build in South China Sea' China's Navy chief has told his Australian counterpart that Australian actions in the past year have "run counter to the general trend of peace and stability" in the disputed South China Sea, according to China's state media. Key points: Navy chief Shen Jinlong didn't mention specific incidents but says Australia is disrupting stability in the region The meeting comes as a US-based think-tank releases photographs of building in disputed islands China claims the entire maritime area, which Vietnam and the Philippines contest Navy chief Shen Jinlong told Vice Admiral Tim Barrett on Thursday in Beijing that Australian and Chinese naval ties have had stable development, but raised concerns about "a series of Australian Navy actions". According to Chinese media reports, the main Australian action China objected to was the deployment of 6 naval ships carrying 1,200 personnel to ta

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BANKING ON BITCOIN this documentary, its great!﻿

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BANKING ON BITCOIN this documentary, its great!