I've met with a lawyer who knows crypto currency. I mentioned

>>2776339
sounds like you paid 600€ for 2 hours of "professional" advice from google
the important part is where that line between private and professional is drawn.

I know some funky cases of people selling stuff on ebay unintentionally becoming a business.

So. Does, for example, working a full time job by definition exclude you from being a professional trader (obviously you didn't have anywhere near full time to invest)?

>>2776389
I had a special case that I can't disclose here. That one definitely required a lawyer.

>>2776389
>So. Does, for example, working a full time job by definition exclude you from being a professional trader (obviously you didn't have anywhere near full time to invest)?
Yes, the lawyer said a full-time job helps a lot to convince the tax man that it's just a private endeavor.
In my case, we're going to handle it accordingly. I quit my job last year and everything from that point on will be taxed as a business.

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>>2776339
>reporting every single trade
Suppose I'm not registered with Kraken, and only trade on Asian exchanges, and cash out bitcoins anonymously in small amounts.

What are you gonna do, mr. taxman?

>Tax-free after 1 hear of holding a coin
Certainly not applicable in the case of the UK. CGT applies regardless of the age of the asset.

Would be interested to know what your meant to do for altcoins which don't have a direct exchange rate to the fiat the taxman expects you to apply capital gains calculations in.

>>2776339
Why would you cash out in your own country as opposed to say, transfering ownership of the crypto from *anonymous* to an offshore company in the BVI for example then cashing out there tax-free and not having to deal with any of this bullshit.

>>2776408
that should by extension mean that any of your tech purchases are now business requirements and may provide tax advantages?

>>2776414
as long as there's a route to exchange for fiat, you apply that. Be mindful of
>Fees and losses can be deducted.

>>2776421
>that should by extension mean that any of your tech purchases are now business requirements and may provide tax advantages?
Yes, I'm able to deduct my computer, electricity, Internet, etc...
It's quite attractive to do all your trading as a registered small business.

Basically the only incentive to classify your trades as "private" in Germany is the 1 year rule, IMHO
Like, buy Ether in 2015 and sell in 2017.
0% taxes.

For all other cases, there's no advantage to not registering a business.

>>2776462
What if your rent includes utilities but you can't run a business from the location?

>>2776522
Not sure, never had such a restriction.
I deduct rent/utilities proportionally for the area of my designated home office (1 room)

>>2776339
How about you just don't cash out and fuck their taxes completely. The taxman can go suck a fat one.

With USDT you have everything you need. I'm not letting them Jew me out of my money

>>2776419
This. These people are fucking retarded. Enjoy giving (((them))) free money.

If crypto are currencies you should not have to pay taxes.

Taxes on speculation are pure theft. Period.

youd have to be completely retarded to pay taxes on crypto gains

>>2776410
they cant do shit
german tax laws are the most bloated in the world and were thought up by boomers who have no clue how this technology works

>>2776926
>don't cash out
What am I supposed to eat and where should I live?

>>2776339
Nice, just bought 100k!