Moe on Nostr: I had similar questions and haven’t fully committed to using Strike Bill Pay for ...
I had similar questions and haven’t fully committed to using Strike Bill Pay for this reason. They say they handle the tax forms, but I still wonder how it plays out after a full year of paying bills this way. Every paid bill would be a taxable event, so I’d expect that to add up quickly—especially if you’re paying a lot of bills.
And what happens if Bitcoin dips? If my BTC is worth less when it’s time to pay, does that make my bills effectively more expensive that month? Feels like I’d have to track tax lots constantly and maybe even switch to paying in fiat if the math doesn’t work out. Unless there’s a tax-loss advantage that I can’t wrap my head around.
It’d be great to see someone document a full year of using this so we know exactly how the taxes and price fluctuations end up affecting everything. Anyone else already doing this? jack mallers (npub1cn4…3vle) strike (npub1ex7…vyt9)
If you do it, please update and let me know how it goes.
And what happens if Bitcoin dips? If my BTC is worth less when it’s time to pay, does that make my bills effectively more expensive that month? Feels like I’d have to track tax lots constantly and maybe even switch to paying in fiat if the math doesn’t work out. Unless there’s a tax-loss advantage that I can’t wrap my head around.
It’d be great to see someone document a full year of using this so we know exactly how the taxes and price fluctuations end up affecting everything. Anyone else already doing this? jack mallers (npub1cn4…3vle) strike (npub1ex7…vyt9)
If you do it, please update and let me know how it goes.