2021.10.22 02:58 test0000000000000001 Nice
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2021.10.22 02:58 pathum1992 The Gistcoin
This effort seeks to build a global brand, and continuous cooperation will provide the necessary support to make that goal a reality. https://gistcoin.io/
submitted by pathum1992 to ICOAnalysis [link] [comments]
2021.10.22 02:58 Aviana_Panns Hey is my skin cool. You can find me on YouTube (Aviana Imagines) I post funny Minecraft shorts 🖤🖤
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2021.10.22 02:58 FurryForge Doodle is indeedly very cool, why else would he have made this ref sheet for me
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2021.10.22 02:58 AutoNewspaperAdmin [National] - Nearly three-quarters of US worried about what schools teaching: Poll | NY Post
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2021.10.22 02:58 tx2005 What are the tax implications for "reflections" type benefits for US based investors? Do possible issues with taxes keep you away from coins/tokens that offer reflections?
While I've been getting my feet wet in crypto, I've been very impressed with the number of ways to make money outside of just buying and holding. One I'm specifically wondering about are "reflections", where token owners are given a share of new tokens, usually from a "tax" on buying/selling transactions. Reflections should provide incentive for people to buy and hold vs frequently trading, not only to avoid the tax, but also because as their amount of tokens owed increases, so should their reflections.
After initially being excited by the idea and being interested in finding some tokens so look at that offer reflections, I started to wonder about the tax implications (specifically for US based investors). From the research I've done so far, it looks like the IRS has specifically stated how reflections should be accounted for on taxes. In discussions I've found, many feel reflections shouldn't be taxed until you sell, but others state that reflections are taxed similar to dividend income with stocks (ie taxed at the time you earn the dividend, even if you immediately reinvest those dividends).
From my understanding, taxes for airdropped tokens (often provided as a benefit from a token's team as a reward for holding) are assessed the same way as dividends. This isn't that difficult as I believe these transactions can be easily tracked, especially if you use one of the various crypto tax services that you can import many exchanges/wallets into. As long as you know the date, the amount of the airdrop in tokens, and the value at the time, then it can easily be accounted for on your taxes.
With reflections, this seems to be much more difficult. Taking Safemoon as an example (given it might be one of the most well known tokens that offers reflections), I believe reflections are added to your total token amount in real time. While I don't own Safemoon, I've seen token owners state their total token ownership is constantly increasing in real time as people are buying/selling Safemoon (which results in a 10% tax, part of that tax being the reflection that goes directly to token owners). The fact that this occurs in realtime all day and night makes it seem like a complete nightmare (and in reality....impossible) to track the amount of each and every new reflection (along with the value of the token at the time of the reflection), given you are likely talking about hundreds, or maybe thousands of mini transactions every day.
It may not be a big deal when token values are low and the amount of reflections are minuscule, but I imagine one day, some specific token (maybe Safemoon....or more likely another token offering a similar benefit) will skyrocket in value, and those minuscule reflections will become substantial. At that point, I am very concerned with how the IRS will expect investors to account for these gains, and while it might be impossible to do (have a log of each and every reflection with date/time/amount of tokens/token value), the IRS really doesn't care. They can and will use their power if they believe you are "underpaying".
WIth all of that said, does anybody know if there has been anything done to try to mitigate this risk? Based on this, I'm honestly considering just staying away from any token with reflections done in real time unless there is some sort of easily tracked log that we can use to avoid any sort of tax trouble.
I'm interested what others think about this issue. Have any crypto projects that offer reflections spoke up about how to mitigate any concerns with taxes? Does this make you hesitant to invest in projects that offer reflections or am I just being paranoid?
submitted by tx2005 to CryptoCurrency [link] [comments]
2021.10.22 02:58 Dr_Dressing Guys, Eric Rosen just quit chess.
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2021.10.22 02:58 BlueMist53 Here’s a new sort of style I’m trying out (Spot the frog and secret message)
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2021.10.22 02:58 zaiichiik some more coconut/vanilla content ~ (by me & a friend)
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2021.10.22 02:58 chupakabra657 Sun beams and storm clouds over the bay from Bayview Park SF
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2021.10.22 02:58 AutoNewspaperAdmin [Local] - Lunatic assaults 11-year-old girl, her classmate at NYC park | NY Post
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2021.10.22 02:58 LilBigKizzle Still have 4
2021.10.22 02:58 JFX37 Requesting /YouTubeTales - It has no mods
2021.10.22 02:58 Jolly-Profile4068 Chat development
I think a lot of people would be happy about that. What I mean. 1: handle donate requests separately from chat! Our clan is actively talking and sometimes we end up so that requests don’t go away. 2: screenshots, possibility to share pictures with the clan. There would be a great demand for this (at least with us). 3: be able to send private messages from elder level. This would be doubly necessary. In an open clan, the elder has no more rights than the member. They don’t feel like a promotion, they tell them it doesn’t matter ... That could be an important goal to achieve.
submitted by Jolly-Profile4068 to SmashingFour [link] [comments]
2021.10.22 02:58 Zhincast orange and black perfect for Halloween
2021.10.22 02:58 VickiPsytheMoore My experience today catching ghost activity on my live Twitch Stream
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2021.10.22 02:58 TheOther36 Proof that Kanye will be in Space Jam 3
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2021.10.22 02:58 SeanMagicalWeeb Dream Of The Hikikomori: parody horror game where you play as the waifu Is Now Available.
|submitted by SeanMagicalWeeb to visualnovels [link] [comments]|
2021.10.22 02:58 ming-ming-ming how likely is it to get into YRDSB if they are checking your reference?
I interviewed with YRDSB for a secondary OT position earlier this week, the next day, I got an email from the HR saying that I needed one more reference. I think my references have finished the forms already. I am waiting anxiously.... How likely is it to be hired if they are checking my references? Has anyone been hired by YRDSB and would like to share the recruitment process with me? The waiting game is stressful.
submitted by ming-ming-ming to CanadianTeachers [link] [comments]
2021.10.22 02:58 Kunphen Climate plan urging plant-based diet shift deleted
|submitted by Kunphen to EcoNewsNetwork [link] [comments]|
2021.10.22 02:58 ErenKruger711 Getting the series s end of this month. Have questions about storage
Hey guys I'm getting the 512 gb series s. I will be getting the games from gamepass, I have a pretty good wifi too. Now issue is the console is only 512gb, and usable space is only 383 gb I think. Now there are two options
2021.10.22 02:58 2-boomin Thought we were fully ready to fruit so I opened the lid and snapped a pic. Reminder to be patient.
2021.10.22 02:58 kucoin_official KCS Monthly Burn In 2021 (January to September)
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2021.10.22 02:58 MoreRopePlease My homeowner's policy doc says to contact a representative for various conditions. I'm wondering what the impact is to my premium for each of those conditions and why.
In particular, I want to know why they want to know about the following, and what the consequence would be to my premium:
2021.10.22 02:58 Sunsettz For each of the world's languages that you don't speak, there was a distinct day during your childhood after which you could never become a native speaker of that language.