Crypto Tax

Crypto holders in the country will no longer be held to the previous traditional "10-year" rule.   Germany’s federal ministry of finance has published a release outlining its plans for taxing crypto and blockchain-related income.   Among other things, Germans who sell their crypto holdings after 1 year of possession do not have to pay taxes.  Tax-Free After a Year According to Parliamentary State Secretary Katja Hessel, this applies specifically to digital currencies Bitcoin and Ethereum. This is only one of…

Florida Governor Ron DeSantis recently revealed that the state is working on allowing businesses to pay their taxes in crypto. This would make Florida one of the first US states to attempt accepting digital assets for tax payments. Pay Your Taxes in Crypto DeSantis is known to advocate freedom and independence with his policy approach, ranging from covid-19 to the economy. Naturally, he has become a fan of cryptocurrencies like Bitcoin. These assets allow for peer-to-peer transactions with no influence…

Short-term Bitcoin traders have an acute interest in how they can dodge paying taxes on their Bitcoin, especially on capital gains. Others see it as a tool for evading taxation, including income tax. These strategies are usually quite difficult in practice and, therefore, NOT recommended. However, a more interesting question – relevant to law-abiders and long-term HODLers – is how we can use our Bitcoin to help pay our taxes. Directly. This prospect is essential for people who store most…