Quote:
Originally Posted by Pulgasari
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Thank you for the money laundering instructions.
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Having to pay income tax on mining is fucking stupid, let's keep it real. Imagine if day traders paid income tax on every single trade they did, only to turn around and pay capital gains tax as well. You're paying tax twice, on top of what I consider to be already a tight margin... by the time you buy a GPU, and pay for electricity, it's to break even..
once the IRS gets involved, it essentially becomes impossible for the small guy to mine and make money, while not impacting the big wigs at all who have established businesses and avoid paying taxes through loopholes and tax deductions that normal guys like me arent even eligible for