Immediate Bitcoin – Do I have to pay taxes?

Last Updated: 26 February 2024

Immediate Bitcoin is a provider that you can use to start trading cryptocurrencies on the internet. If you have no experience with it, the currency Bitcoin will probably still mean something to you.

Since you can’t get past it in the news on the internet, interest continues to grow little by little, leading to more and more people wanting to get into trading, and thus the price skyrocketing to new heights.

Using Immediate Bitcoin to Trade

If one wants to start trading, one needs a partner such as Immediate Bitcoin. Through the platform, one can start trading from the PC, so it has become very easy to trade with Bitcoin and co.

If you trade for a certain time, you will notice whether you have a good hand or not.

If you can be satisfied with the profits you make, you have to ask yourself a question at some point: What about taxes that you have to pay on the profits with Immediate Bitcoin?

 

Immediate Bitcoin - Do I have to pay taxes?

What will taxes end up having to be paid on?

That’s pretty easy to say. All profits made through Immediate Bitcoin have to be declared in the tax return. However, if you are under 600 Euros, these profits are not taxed.

Nevertheless, one is obliged to declare even small profits in the tax return. Failure to do so can have consequences for you.

How can one profit from Immediate Bitcoin?

Step 1: Click on the link to go to Immediate Bitcoin’s official website.
Step 2: Fill out the form to get a FREE licence to trade.
Step 3: Follow the instructions on the platform to profit from bitcoin fast!

When do you start talking about profits?

When you cash out your winnings and they show up in your account, you have to declare them. It does not matter at what time you started or ended the trade.

Only the time at which the money lands in your account counts. If you subtract the deposits from this, you have the profit that must be entered on the tax return for this year.

When do you have your winnings paid out?

Since you can use the payout to control when the profit has to be declared to the tax office, it can sometimes be right to wait with the payout until the new year has started.

If the profit is paid out only then, it must also be declared in the tax return for the new year. There are many situations in which this procedure can be useful. Of course, this only applies if the winnings amount to more than 600 euros.

As mentioned above, the annual tax burden is not affected by winnings of less than 600 euros.

Author
  • Luke Handt

    Luke Handt is a seasoned cryptocurrency investor and advisor with over 7 years of experience in the blockchain and digital asset space. His passion for crypto began while studying computer science and economics at Stanford University in the early 2010s.

    Since 2016, Luke has been an active cryptocurrency trader, strategically investing in major coins as well as up-and-coming altcoins. He is knowledgeable about advanced crypto trading strategies, market analysis, and the nuances of blockchain protocols.

    In addition to managing his own crypto portfolio, Luke shares his expertise with others as a crypto writer and analyst for leading finance publications. He enjoys educating retail traders about digital assets and is a sought-after voice at fintech conferences worldwide.

    When he's not glued to price charts or researching promising new projects, Luke enjoys surfing, travel, and fine wine. He currently resides in Newport Beach, California where he continues to follow crypto markets closely and connect with other industry leaders.

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