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DNova posted:personal income taxes in the us are way out of hand complicated imo it's so that rich assholes can loophole their way out of paying anything at all, and also so that HR Block and such can stay in business
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Apr 7, 2014 22:52
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DNova posted:personal income taxes in the us are way out of hand complicated imo because the tax prep people actively lobby to keep taxes as complicated as possible
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Apr 7, 2014 22:52
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Edminster posted:because the tax prep people actively lobby to keep taxes as complicated as possible quote:It's already a reality in Denmark, Sweden and Spain. The government-prepared return would estimate your taxes using information your employer and bank already send it. Advocates say tens of millions of taxpayers could use such a system each year, saving them a collective $2 billion and 225 million hours in prep costs and time, according to one estimate. question: how often d o people in sweden/denmark/actual first world countries open up their newspaper to read about how 'something is already a reality in the USA' (aside from: imagine being in elementary school sitting in the library and then suddenly you've being shot at and then ur dead. it's already a reality in the USA.)
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Apr 7, 2014 22:54
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Edminster posted:because the tax prep people actively lobby to keep taxes as complicated as possible haha what the gently caress
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Apr 7, 2014 22:54
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USSMICHELLEBACHMAN posted:question: how often d o people in sweden/denmark/actual first world countries open up their newspaper to read about how 'something is already a reality in the USA' (aside from: imagine being in elementary school sitting in the library and then suddenly you've being shot at and then ur dead. it's already a reality in the USA.) to be fair if all you have is a job and nothing complicated going on financially you can really easily do your own taxes or use a free version of a tax program to do it for you but once you have anything going on beyond that it's a clusterfuck
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Apr 7, 2014 22:56
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national parks are sweet there should be way more of them, and teddy roosevelt was an rear end in a top hat i agree with sometimes i feel like there are way too many laws and that we should aim to cut back on them instead of just not enforcing the old/obviously dumb ones
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Apr 7, 2014 22:57
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Dren posted:national parks are sweet there should be way more of them, and teddy roosevelt was an rear end in a top hat i agree with but the lawyers and Leo lobbies would lobby against it and they have way more money than u basically money in politics is the root problem and ironically the main thing preventing anarchocapitalism
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Apr 7, 2014 23:01
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Dren posted:sometimes i feel like there are way too many laws and that we should aim to cut back on them instead of just not enforcing the old/obviously dumb ones welcome to the libertarian party
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Apr 7, 2014 23:08
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Magic Underwear posted:welcome to the libertarian party noooooooooooooo
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Apr 7, 2014 23:14
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USSMICHELLEBACHMAN posted:question: how often d o people in sweden/denmark/actual first world countries open up their newspaper to read about how 'something is already a reality in the USA' (aside from: imagine being in elementary school sitting in the library and then suddenly you've being shot at and then ur dead. it's already a reality in the USA.) busta rhymes album intros
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Apr 7, 2014 23:14
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Queue to get into Inside Bitcoins Conference... (twitter.com) submitted 8 hours ago by AtlantaBitcoin  [–]toddgak 2 points 3 hours ago At least I don't see any tumbleweeds.... Cricket cricket.
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Apr 7, 2014 23:21
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cricket cricket
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Apr 7, 2014 23:22
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DNova posted:to be fair if all you have is a job and nothing complicated going on financially you can really easily do your own taxes or use a free version of a tax program to do it for you 
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Apr 7, 2014 23:23
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I'm the women or lack thereof
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Apr 7, 2014 23:23
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big scary monsters posted:do employers not sort taxes in the us? i've never filled out any paperwork related to taxes, every job i've had the company has done it for me and i get a form at the end of the financial year telling me what i paid. one time the government sent be a cheque later because apparently i'd paid too much they do but they dont take care of exemptions and deductions except very broadly.
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Apr 7, 2014 23:24
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big scary monsters posted:do employers not sort taxes in the us? i've never filled out any paperwork related to taxes, every job i've had the company has done it for me and i get a form at the end of the financial year telling me what i paid. one time the government sent me a cheque later because apparently i'd paid too much no
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Apr 7, 2014 23:24
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big scary monsters posted:do employers not sort taxes in the us? i've never filled out any paperwork related to taxes, every job i've had the company has done it for me and i get a form at the end of the financial year telling me what i paid. one time the government sent me a cheque later because apparently i'd paid too much No, you have to fill out and file tax forms in the US even if what your employer withheld from your paychecks was exactly right.
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Apr 7, 2014 23:26
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"Warning" from Wells Fargo (self.Bitcoin) submitted 54 minutes ago by pipets Some of you may remember that recently Chase closed one guy's account because he purchased btc with it. Today I stopped by one of the WF branches in CA, and had a chance to briefly chat with the manager about btc. Basically I asked him, whether if I get into trouble if I purchase btc through my account, and he said "I can't tell you the answer right away right now. You could call the number on the back of your card and talk to the risk department people. But I warn you that just because you called them about bitcoin they might flag you already". WTF this supposed to mean...? [–]icehog 0 points 22 minutes ago Doesn't sound very legit. Banks can't just shut down your account because they don't like what you're buying. If a court orders your account frozen, that is another matter. [–]icehog -1 points 8 minutes ago Not in the USA, bud.
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Apr 7, 2014 23:26
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big scary monsters posted:do employers not sort taxes in the us? i've never filled out any paperwork related to taxes, every job i've had the company has done it for me and i get a form at the end of the financial year telling me what i paid. one time the government sent me a cheque later because apparently i'd paid too much Employers generally withhold an amount of income tax that should be roughly what you would owe, if you correctly filled out your W-4 form for your employer. But it's not as simple as in Europe, where you just pay like 80% of your paycheck in taxes and that's the end of it. In the US, you can get all kinds of discounts and credits depending on fifty billion factors. If you are an active investor or have any non-labor income, things explode in complexity.
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Apr 7, 2014 23:26
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I hate typing all this stuff in to buy something online (self.Bitcoin) submitted 4 hours ago by schism1 *First name: *Last name: *Address: *City: *State: *Zip/Postal code: *Country: *Email: *Confirm email: *Card number *Ex *CVV After using Bitcoin it seems silly. Sites like Amazon keep my info so it easy there but I bought a couple pieces of software over the last few days and had to fill all that crap out just to get a download. Autofill does help some. Don't up vote just a rant.
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Apr 7, 2014 23:28
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lol at the guy who didnt already have an amazon account in 2014
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Apr 7, 2014 23:29
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Did the IRS Just Make Bitcoin a New Tax Loophole? by Jason M. Farrell on April 7, 2014 0 As most people have now heard, the IRS just granted itself the power to tax the gains realized when individuals sell or spend their bitcoins — much like stocks. That means you are also responsible for knowing exactly how much your Bitcoin holdings have increased in dollar terms since you bought them. If you are a miner, it even means all those 1’s and 0s sitting idly on your cold storage hard drive are now considered gross income. Naturally, this has produced some trepidation among Bitcoin lovers, who now are obliged to keep incredibly onerous tax records if they want to stay on the right side of the law. Compliance will almost assuredly be an ongoing issue, given the private nature of the technology. “While users with sizeable Bitcoin wallets might be motivated to comply with the new policy, those with smaller wallets might not find the hassle worth their time,” noted the Tax Foundation in a recent blog post on the ruling. But there may be some unforeseen issues for the IRS — and benefits for Bitcoin users. Given the inherent difficulty with enforcement, the IRS ruling could backfire if more people self-report their Bitcoin holdings as capital losses (in order to gain tax benefits) than capital gains. If that happened, Bitcoin could essentially become a tax loophole. With the reliance on self-reported Bitcoin holdings and the anonymity of private wallets, the government may need an army of cryptographers and a substantial increase in audits to ensure compliance from small-time Bitcoiners. As with pirated movies and software, enforcement would need to be so draconian it is likely infeasible. Better yet: if the Bitcoin community managed to change the protocol to increase the rate that miners can “unlock” new coins… Bitcoin might have a built-in incentive to both adopt the currency and report taxable earnings. Let’s say that we accepted an inflationary Bitcoin, much like we have an inflationary dollar, around 2 or 3% annualized. At the end of the year, a consistently inflating bitcoin would trigger no capital gains liability, only capital losses, reducing the tax liability of the filer. If this held, then Bitcoin could actually trigger regular refunds of varying quantities for both hoarders and spenders alike. Businesses large and small, as well as ordinary consumers could essentially earn a reduced tax burden every time they used Bitcoin, as long as its value kept falling. Of course, proceeds from Bitcoin sales would still have to be reported, but that is less of a problem than reporting every single capital gain throughout the year. So inflation could mitigate the worries that many Bitcoin businesses and investors have about the new IRS rules. A perpetually inflating Bitcoin would also be great for miners, in that it would both reduce the cost and increase the incentive to continue mining. It would also be great for law enforcement, since it would encourage voluntary tax compliance. This would also reduce the reporting burden for bitcoin users and add a little extra incentive to use the cryptocurrency. Everybody wins! If the Bitcoin protocol doesn’t change in this respect, some other cryptocurrency might realize a potential competitive advantage here and take its place as the electronic money of choice. Many economists have already pointed out that a deflating Bitcoin is going to stifle adoption. The IRS ruling will likely only make that worse, forcing the Bitcoin community to improvise. At the end of the day, Bitcoin is a very unique tool with properties of both an asset and a currency. In that sense, it remains malleable, and with sufficient momentum, may continue to outwit attempts to control or stamp it out. “While the IRS has finally provided an answer,” said the Tax Foundation, “there are good reasons to believe that they got it wrong. Virtual currencies are tricky assets to categorize.” As Princess Leia said to Governor Tarkin in Episode IV: “The more you tighten your grip, Tarkin, the more star systems will slip through your fingers.” If the IRS starts to tighten that grip too much, expect Bitcoiners to start syncing up those wallets. [–]bitcoind3 5 points 7 hours ago TL;DR Tell the IRS you made a loss on your bitcoins this year and claim a tax rebate - it's not like they can know if you did or not.
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Apr 7, 2014 23:30
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Robawesome posted:Megaphone Monday! (self.Bitcoin) [–]solomania9[S] 1 point 1 hour ago Success! PM me and I'll send you your private key. http://bitcoinmegaphone.com/12a6qt561nbNBhHm7tjPRMKkDcHGw4wTnV/ EDIT 2: We have our winner! Now if you'll excuse me I have some egg to wipe off my face... http://bitcoinmegaphone.com/12a6qt561nbNBhHm7tjPRMKkDcHGw4wTnV/
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Apr 7, 2014 23:32
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the guy just barely beat greyhawk's submission [–]sagreyhawk1974 2 points 2 hours ago Bitcoin is crashing. SELL SELL SELL!
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Apr 7, 2014 23:32
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...! posted:
a glimpse into the near future: Weird letter from IRS (imgur.com) submitted 1 hour ago by bitcoind3 I just got this really strange letter from the thugs at the IRS claiming I owe them money. I don't know how that can be true! They owe me $450 after accounting for my bitcoin losses last year! Worst of all they are claiming they will start stealing from my paycheck if I don't give them money! WHAT DO I DO
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Apr 7, 2014 23:46
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...! posted:[–]solomania9[S] 1 point 1 hour ago 555555555555555555
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Apr 7, 2014 23:46
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A Pinball Wizard posted:a glimpse into the near future: pay it or get raped in the showers... i know which one i'd choose....but let's see what our survey said...
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Apr 7, 2014 23:47
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$0.19 posted:Need bitcoins to buy drugs, please donate! $0.23 posted:Need drugs to sell so I can get bitcoins. Pls help.
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Apr 7, 2014 23:48
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...! posted:As Princess Leia said to Governor Tarkin in Episode IV: “The more you tighten your grip, Tarkin, the more star systems will slip through your fingers.”
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Apr 7, 2014 23:50
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...! posted:I hate typing all this stuff in to buy something online (self.Bitcoin) with bitcoins i dont have to type in my name and address to receive shipments!
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Apr 7, 2014 23:53
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my parents never bought anything online for the longest time because they were in the "i shouldn't have to give out my real name on the internet!!" school of thought until i managed to convince them that it really wasn't that different than ordering from a catalog
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Apr 7, 2014 23:58
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kill me
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Apr 8, 2014 00:04
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...! posted:I hate typing all this stuff in to buy something online (self.Bitcoin) look at this scrub who can't type quickly and effortlessly
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Apr 8, 2014 00:16
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i use lastpass(tm) fillform to automatically fill out forms for me
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Apr 8, 2014 00:16
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What happens if the value of bitcoins drops enough, and the difficulty of mining rises enough, that it's no longer cost efficient for anyone to do it? (self.Bitcoin) submitted 20 minutes ago by whammybojammy Am I right in understanding that mining also processes everyone's transactions? What if it is no longer cost efficient regardless of the scale you do it at? Wouldn't all the miners shut down, and the whole network grind to a halt? [–]Aahzmundus 6 points 14 minutes ago Then some miners will stop mining, the difficulty will go down... and the remaining miners will be profitable. The whole system is self stabilizing, and balances out to where mining is of a small, modest profit.
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Apr 8, 2014 00:29
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MAJOR Mulitibit Bug- BTC GONE - It cost me all of my btc, please read and help if possible. (self.Bitcoin) submitted 36 minutes ago by wetseals I will try to be as detailed as possible with this post, I was told coming here would be a good way to warn Multibut users of a bug that I discovered, that caused me to not be able to access my bitcoin. I am somewhat new, so please bear with me, and ask any questions if I am not clear enough. I was keeping my small amount of bitcoin on blockchain.info, and decided to move it to a more secure offline storage method. I chose Multibit, since I would not have to download the entire blockchain. I installed multibit, and was able to send my bitcoins to my Multibit wallet, no problem. I then created a lot of addressses, as I wanted to have a bunch already in my wallet, since I am starting to sell various Starbucks items online on SealsWithClubs and on bitcointalk, and figured I would have unique addresses all set up. I ended up with about 550 addresses in my multibit wallet. Still no problems. Here is my where my issue occurred. I made this transaction: https://blockchain.info/tx/a26245890834c2d628dfb7555b9ce8019d2b008e0a1fd616fc411ba9b58adb91 sending 0.024 btc to my sealswithclubs account. The transaction went through fine, and as far as I can tell, multibit sent my entire balance in that transaction, with the rest coming back to me in a change address. The change address is: https://blockchain.info/address/1AdHAc4kYrMzwijP75b4qp4xqP3ZRuFqL1 MY bitcoins now sit in that address.....but I cannot access them. I can even see them in my multibit wallet when I start it up. But when I try to complete a send, multibit will not broadcast anything to any peers. Yes, I have tried all the troubleshooting, nothing works. So, I decide I will just export all my private keys from Multibit (since the address my bitcoins are in is listed among all my other btc receive addresses in Multibit). I export the keys, and import them into blockchain.info......nothing shows up. I then go through them, one by one, importing them one at a time, and guess what? I have the private keys for every single address in my receive list, EXCEPT the address multibit generated as my change address. My coins to this day still sit in that btc address. They have not been stolen, I was not hacked, etc. Multibit never saved the change addresses private key, it just added the address to my multibit receive address list. I have had many people look at this, and no one can get it fixed so far. I even offered 50% of what I am missing to recover it, since it is all I have. Still, no one can get it figured out. I messaged the Dev (Jim) of Multibit, he sent me a generic response that did not even address the issue. So I ask you guys, any ideas? I have spent a week on this, trying to figure it out, and am beyond frusterated. And the DEV refuses to respond to me, either on GitHub or on bitcointalk. Please, someone try to help me. I am a good person, and feel like the dev should look into this asap. If it happened to me, it could happen to you. TLDR: Sent btc to multibit Sent btc in a successful transaction Change address was created in multibit, but multibit did not save the private key in my wallet or ,key I can see my btc, but cannot spend or move it. Multibit dev refuses to address the issue I really hope someone can help me. I can provide any info that may help. [–]wetseals[S] 1 point 11 minutes ago JIM REPLY: Your best strategy is to export the private keys unencrypted and have a look at the file that is exported. It should have the format as described in the help here: https://multibit.org/en/help/v0.5/help_exportingPrivateKeys.html Then import them, say into blockchain.info one by one. You'll appreciate there are hundreds of thousands of Multibit users so we canot offer personal support. Sorry. Jim [–]wetseals[S] 1 point 10 minutes ago MY RESPONSE: I did that, I have almost 600 addressesw, I did them 1 by one, something is wrong. All I ask is you to import the wallet into your end, and see if it works. For some reason, multibit sent the change to an address is my multibit client, but the priv key for that address does not appear in the exported file. Its really weird. I see the address that has my btc in it in my receive address list though in the program. Please help me..... [–]wetseals[S] 1 point 10 minutes ago NEXT RESPONSE I SENT TO JIM: There is some kind of bug going on. I sent .024 btc, and multi sent all my btc. It sent the .024 btc to the correct place, but it sent the rest to another address ( I guess a change address). I see the address in my receive addresses in multibit, and when I open my wallet file, my btc balance is correct. However, when I export my private keys, it exports almost 600 priv kets ( I have a lot of addresses) , but doe sNOT export the one for the change address. Its .49 btc, its all I have. I have searched the internet and tried everything all night. Tried importing to blockchain one by one, and the address with my btc was not one of the 574ish private keys that exported. Still I see the address in my receive list on multibit. Please look into this. Its like its an address that only multibit has the private key to, and will not give me. [–]wetseals[S] 1 point 9 minutes ago FINAL RESPONSE I SENT TO DEV JIM: I understand you have thousands of customers. So personalized support is not easy to happen. But this is a serious bug, my bitcoin is gone now, and if you load the wallet file, you will see what happened! It might be baciuse I have hundreds of address in multibit. But I am telling you, I see the bitcoin and the address in mu client, but when I send, it never is seen by peers. Then when I refresh blockchain, it totally disappears. If I restart the client, it comes back, same thing happens. I see my bitcoin are still in the same address, when I look it up on blockchain.info. And when I export the priv keys, it does NOT export the priv key of the change address multibit created. I hand enetered each addres (almost 600) one at a time, last night on blockchain. This is all the bitcoin I had left. This is a serious issue. Please look into this. [–]wetseals[S] 1 point 22 minutes ago Here is a pic of my multibit wallet just taken..... proving multibit made this change address, and it is in my multibit client. Yet, it is not able to be sent, nor is it able to be exported and imported into another wallet/client. http://imgur.com/hCNjxSf [–]wetseals[S] 1 point 6 minutes ago Yes, it was more like importing 570ish address though, not 449. And yes, all were empty. It will not dump the priv key for the 1Ad address. So yes, that is exactly correct. Posted a pic of the multibit client as I see it right this second, btc staring me in the face, unusable.  [–]wetseals[S] 1 point 4 minutes ago And I did it one at a time. Went through the process 3 times....took like 2 hours each time. I didnt miss it. I know that much.
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Apr 8, 2014 00:31
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...! posted:What happens if the value of bitcoins drops enough, and the difficulty of mining rises enough, that it's no longer cost efficient for anyone to do it? (self.Bitcoin)
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Apr 8, 2014 00:32
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...! posted:MAJOR Mulitibit Bug- BTC GONE - It cost me all of my btc, please read and help if possible. (self.Bitcoin) be your own bank
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Apr 8, 2014 00:35
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...! posted:You'll appreciate there are hundreds of thousands of Multibit users so we canot offer personal support. Sorry. i'm the lie wait no i'm the lovely customer service
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Apr 8, 2014 00:39
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Pardot posted:be your own bank sorry but id rather not
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Apr 8, 2014 00:40
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