Tax Planning Bitcoins: The Taxless Currency Read the Article Open Share Drawer Share this: Click to share on Facebook (Opens in new window) Facebook Click to share on X (Opens in new window) X Click to share on LinkedIn (Opens in new window) LinkedIn Click to share on Pinterest (Opens in new window) Pinterest Click to print (Opens in new window) Print Written by Published Jul 18, 2011 - [Updated Aug 23, 2016] 1 min read In today’s economy, the value of the dollar is weaker than ever and the thought of a digital currency is becoming more of a reality with the recent introduction of bitcoins. Bitcoins can be compared to cash, but cash is limited to physical exchange, where as bitcoins can be sent throughout the Internet. Today there are more than 6.3 million bitcoins in existence and this number continues to grow. So, how are bitcoins used and how have they become a currency that can be used like dollars, but is tax avoidable? Let’s explore. Embed the above image on your site using the code below: Free Tax Filing, Efile Taxes, Income Tax Returns – TurboTax.com Previous Post Summer Job Tax Tips Next Post Don’t Let That Summer Getaway Get Away Written by More from Comments are closed. Browse Related Articles Tax News IRS Provides Guidance on the Taxation of Bitcoins and Virtual Currency Income and Investments Bitcoin Calculator: How Much is Your Wallet Worth? TurboTax News TurboTax Makes it Easier for Coinbase Customers to Report Their Cryptocurrency Transactions Tax News IRS Provides Further Guidance on the Taxation of Virtual Currency Investments Key Tax Trends: Crypto Taxes for Tax Year 2021 Life The End of Pennies: Understanding the Financial Shifts Ahead Home How to Lower Your Property Taxes Tax News The Infrastructure Bill Was Signed Into Law: What Does it Mean for You and Your Taxes? Tax Deductions and Credits End of Year Tax Tips to Maximize Your Tax Refund Tax Deductions and Credits Tax Tips: In Search of a Job? Your Job Search Expenses May Be Deductible