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Payment by cryptocurrency
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nebfarmer
Posted 5/7/2021 07:52 (#8991748)
Subject: Payment by cryptocurrency


SE Nebraska, Near Misery and Cans Ass!
Had a business offer to pay me for some custom work and conventional dollars or cryptocurrency. Actually gave me a choice of three different cryptocurrencies. If I take payment by cryptocurrency will be approximately 20% over the payment I will receive if I bill them in US dollars. They have also shown me a list of goods and companies that I can buy from with the cryptocurrencies immediately with goods that I could use. Some of which would normally be not tax deductible. The business offering the payment is saying that there would be no record of the payment to me available to the federal government and therefore no taxes due. Yep I know it's sort of cheating but on the other hand it sounds like there's a way of a lot of commerce being done that way and I know that doesn't make it right. I could even declare the income and still come out 20% head. Which would make my side of the deal legitimate anyway. And it only amount to a few thousand dollars difference but it is a few thousand dollars. I hope spell check didn't butcher this thing too bad as I'm voice texting
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