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This means that when you receive Bitcoin as payment for goods or services, it’s considered taxable income based on its fair market value at the time you receive it.

WRONG. Bitcoin is cash. Treat it accordingly.
Please, let's stop misleading new merchants that want to start with Bitcoin. This is the lie that all govs are trying to push into clueless normies mind, that Bitcoin MUST be taxed. It is not.

Also DYOR and find out that you do not MUST pay any taxes... you have been fooled for so many years to pay them, when in fact you don't. It's all about consent. They threaten you to enter in consent. No more no less. So if you are weak and scared, you pay. But if you DYOR you do not have to pay anything.

21 sats \ 3 replies \ @AG 5h
Bitcoin is cash. Treat it accordingly.

I fully agree on this point! Treating bitcoin as cash is easy and anyone can do it.

Is not the same to get out of the fiat mindset and pay taxes. I feel it requires a lot of effort and having a community that see things the same way is really important. Bitcoin is not enough to reach that goal.

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This misleading idea about "bitcoin is taxable" come from the lack of knowledge about what is the "legal tender", what is money, what is a currency.
Many people don't know the differences between these 3 terms.

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21 sats \ 1 reply \ @AG 5h

Bitcoin as legal tender is a scam, we know that. is indeed important to know the difference between money and currency. If people is dumb and want to pay taxes on bitcoin transactions who are we to stop them. Dumminess can reach levels we cannot even imagine even in 2026, unbelievable!

Businesses are different, especially if they are registered under a fictional jurisdiction, they have the obligation to pay taxes simply because are registered (they asked permissions to run) instead of operating in the private as most bitcoin businesses should do. Instead, we continue having 99% of these pseudo fake-bitcoin businesses a fiat organizations. That's not ₿usiness.

Much more education need to be spread to have real and authentic bitcoin business operating freely.

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Even if I would be a clueless merchant with a gov registered business, nobody can force me to not accept pink shells and treat them as money.

What a business will declare for taxation have nothing to do with what they use as form of money. The taxation event is on the invoicing volume, NOT on the money aspect.

Yes, we need more education in this matter.

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