Can buying crypto be a business write off?

wpsokw

wpsokw

Senior Member
Joined
Jan 31, 2018
Messages
1,132
Reaction score
461
I'm unsure if others have thought of this, but if you own a business, and bought crypto with the company's card, can it be written off/lower taxes? If you understand what I'm asking, can you help elaborate in the comments? There might be a strategy if I can get confirmation from this. Thanks in advance!
 
Advertise on BHW
I don't think so. Doesn't seem like a tax deductable expense at all IMO
 
Darn, ok thanks for the answers guys
 
You need to consult a CA for this who will advise based on laws in your country.
 
it should be considerd by your country laws as an "investment".. like buying stocks, so you can write it off.
 
You need to take legal advice for this, may be allowed in some countries.
 
answer mainly depends on where you live and can go totally both ways, best to consult legal advise
 
Maybe if you are buying crypto to create a business that has to do with crypto?
 
If you use a creative OTC to purchase, what you want to do is achievable, however, the starting minimum transaction for such services are above 100k per transaction.
 
Advertise on BHW
You must log in or register to reply here.
Sign up now!

Main Menu

Home Main Forum List Black Hat SEO White Hat SEO BHW Newbie Guide Blogging Black Hat Tools Social Media Downloads

Marketplace

Account Selling Content / Copywriting EBooks / Methods Hosting Misc Proxies For Sale SEO - Link building SEO - Packages Social Media Social Media - Panels Web Design More

Making Money

Affiliate Programs Hire a Freelancer IM Journeys Making Money Pay Per Click Site Flipping Want to Buy

BlackHat World

Dispute Resolution Forum Suggestions & Feedback Introductions Lounge
Back
Top