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Multi cryptocurrency payment gateway avoiding taxes on cryptocurrency
The author is not in any way qualified to provide any coinbase 3rd party apps bitcoin change world of professional advice. As we develop our product within the cryptocurrency space, we constantly come across a fundamental question:. Therefore, if you buy one coin and sell it to buy another, any gain is subject to tax. One of the most important things to understand about crypto taxation in the US is that the IRS considers virtual currency as property, just like physical assets. Blockport kicks off more crypto listings, starting with EOS. We use cookies to give you the best online experience. According to Kyle Samani, a successful venture capitalist within the blockchain space, the cryptocurrency market is not only massively expanding, but could go so far as to one day absorb the value of many non-monetary assets. If you run a physical store, your customers should be able to pay through a mobile phone app or hardware terminal. Apply For a Job What position are you applying for? They russia investing crypto mining ven cryptocurrency marketcap extremely portable: Find out more about the Blockport STO. While cryptocurrency lending is anything but mainstream, the industry is incredibly profitable. The IRS does not treat crypto assets as money; rather, as capital assets, similar to stocks or property. Load More. SALT Between andfewer than taxpayers claimed Bitcoin gains. The question that arises is: One of the major benefits of cryptocurrencies for people that want to escape the limitations of their local fiat currencies, is that as long as they have the control over their private keys, they control their money. Commitment to Transparency: About Advertising Disclaimers Contact. Author Priyeshu Garg Twitter. How far could all of this really go? The Apr. However, he points out that this argument will not hold in the future, as trust in currencies rises year over year because of all the benefits described .
Cryptocurrency Tax in 5 Minutes - What are Taxable Events ?
How some traders avoid bitcoin taxes using crypto loans
ZenLedger Cryptocurrency tax management. At the beginning ofwe began our journey of building Blockport, a platform that makes cryptocurrencies accessible to first-time enthusiasts and experienced traders alike. In these countries, people are constantly looking for value-storage mechanisms that are able to hedge against hyperinflation. Share Tweet Send Share. Many people outside the cryptocurrency world often ask me: As we develop our product within the cryptocurrency space, we constantly come across a fundamental question: Prev Next. One of the major benefits of cryptocurrencies for people that want to escape the coindesk bitcoin price what is the smallest unit of bitcoin of their local fiat currencies, is that as long as they have the control over their private keys, they control their money. If they can do this just by entering the invoice number, so much the better. This is due to the fact that the Internal Revenue Service IRS in the US sees digital coins as capital assets or in some cases commodities like stocks and property, not as currency. Moving out of their infancy, cryptocurrencies will mature significantly within the coming years, overcoming their global scalability issues that need to be ironed out before wider societal adoption can ensue.
Penalties, Tax Evasion, and Compliance 4 months ago. Be sure to let the customer know how much BTC to send since the fluctuations in price are likely to confuse them. BTCPay is easy to deploy via the one-click deploy on Azure. Now over 10 years ago, Satoshi Nakamoto launched Bitcoin. Therefore, while it might seem difficult, crypto traders should be keeping accurate records of their exchange activity and trading history so they can get the full picture of what is owed and why. Between and , fewer than taxpayers claimed Bitcoin gains. In that case, the IRS is likely to treat it as a sale taxable to the original owner. While Bitcoin addresses on a paper invoice are incredibly cumbersome, according to Bitcoin Wiki , you should probably add them anyway. Pat Larsen, the co-founder, and chief executive officer of ZenLedger , said the business was extremely risky, as these companies deal with highly volatile assets. In these countries, people are constantly looking for value-storage mechanisms that are able to hedge against hyperinflation. GoChain GO listing live on Blockport. Sign up to stay informed. As Samani states in his essay: By using this website, you agree to our Terms and Conditions and Privacy Policy.
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One thing is clear though; a practice of hiding your crypto trading activity is not the right course. Unsurprisingly, one of the most interested government authorities is the IRS. The adoption of technological innovation moves in waves, with various tipping points along the way that can trigger sudden buy-in from the masses. Mar 05, The next filing deadline is right around the corner. Be sure to use a new address for each invoice—that you use only once. Planning Your Crypto Taxes? While this might seem time consuming at first, it is the surest way to calculate what you really owe and, in turn, to avoid the wrath of the IRS. Keep in mind that just a few years ago, no one realistically thought people would rent out their homes to complete strangers Airbnb now largest rental marketplace in the world , let alone drive them around in their own cars Uber now largest taxi company in the world. The tax agency has noticed the extraordinary profits that some individuals have made from cryptocurrency trading and made it its mission to identify what these successful individuals might owe. Holding onto bitcoin payments can be risky. The Rundown. Cryptocurrency as a future store of value? Please do your own due diligence before taking any action related to content within this article. About Advertising Disclaimers Contact.
Load More. Will Bitcoin replace traditional Fiat currencies, and will everyone start using it as a mainstream payment method? Some traders are using cryptocurrency as collateral to secure loans, allowing them to keep their bitcoin and get cash while avoiding capital gains tax. As it stands, there are currently more than 25 million digital-asset wallets that have been created for the purposes of storing cryptocurrencies. The way most merchants manage this is to quote clients based on the current market rate at the time of the price quote to the customer. Crypto market analysis and insight to give you an informational edge Subscribe to CryptoSlate Researchan exclusive, bitcoin database type gtx 1080 bitcoin mining rate newsletter that delivers long-form, thoroughly-researched analysis from cryptocurrency and blockchain experts. Be sure to let the customer know how much BTC to send since the fluctuations in price are likely to confuse. Try doing that with real gold. Aside from these highly centralized crypto lending companies, there are also low-cost decentralized alternatives. CommunityMarketing. Twitter Facebook LinkedIn Link. However, you will increase awareness among customers curious to learn. Blockport STO results. As mentioned, there are easier and faster payment gateways for accepting bitcoin, but you give up full control over the transactions. Dash v0. For now, the multi cryptocurrency payment gateway avoiding taxes on cryptocurrency lies with all of us within the space to drive mainstream adoption. BTCPay is easy to deploy via the one-click deploy on Azure. Mar 05, The next filing deadline is right around the corner. He holds an engineering degree in Computer Science Engineering are bitcoins secure bitcoin exploit kit is a passionate economist.
Crypto Loans and Tax Implications
By using this website, you agree to our Terms and Conditions and Privacy Policy. The Apr. Find out more about the Blockport STO. In fact, the whole idea that crypto traders will somehow be able to hide their activity from the authorities is becoming less and less likely. Kai Bennink, Founder - Blockport About Blockport Blockport is an easy-to-use cryptocurrency exchange that bridges the traditional world of finance with the new digital economy of cryptocurrency. Blockport launches initiative to increase awareness around cyber-security within the crypto industry. It will also give you additional security of genuine payments with no possibility of fraud. All Rights Reserved. While independence from government intervention was one of the key tenets that Bitcoin was built on, the majority of cryptocurrencies now operate under far more scrutiny from the authorities than many early pioneers would have hoped for. Cryptocurrency lenders are not regulated by the U. If they can do this just by entering the invoice number, so much the better. Keep in mind that just a few years ago, no one realistically thought people would rent out their homes to complete strangers Airbnb now largest rental marketplace in the world , let alone drive them around in their own cars Uber now largest taxi company in the world. The Blockport 1. By agreeing you accept the use of cookies in accordance with our cookie policy. GoChain GO listing live on Blockport. However, based on well funded arguments and theories from thought leaders around the world, I will try to explain why a multi trillion dollar market capitalization for cryptocurrencies is not an unrealistic scenario in the near future. Aside from these highly centralized crypto lending companies, there are also low-cost decentralized alternatives.
Firstly, the deal they struck with Coinbase resulted in the exchange releasing information on a limited number of users, for whom K forms were produced. Sign In. De multi-biljoenen potentie van Bitcoin en cryptocurrency. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Another important area to understand is your use of foreign exchanges. If you run a small business and want to attract more customers by offering bitcoin payments, you may be wondering where to start. To provide a well funded answer to this question, we first need to describe some of the characteristics that cryptocurrencies such as Bitcoin and Ethereum share: Aside from these highly centralized crypto lending companies, there are also low-cost decentralized alternatives. Be sure to let the customer know how much BTC to send since the fluctuations in price are likely to confuse. While you can use payment processors such as BitPay or Coinbase, running a full node will give you greater speed when it comes to transaction confirmations. Most people need some free bitcoin honey money cryptonight miner of paper trail when it comes to accounting. According to a report from Bloomberg, there has been a steady increase in the number of people using various cryptocurrencies, primarily stock market of bitcoin is it worth buying bitcoin and ether, as collateral to borrow money. Jan 06, Planning Your Crypto Taxes?
Cryptocurrency Lending is a ‘Wild West’
Aside from these highly centralized crypto lending companies, there are also low-cost decentralized alternatives. In seeking the details of Coinbase customers, the IRS is clearly on a mission to uncover US citizens it believes owe crypto-related tax. People can then contact you for details of how to pay using bitcoin. One of the major benefits of cryptocurrencies for people that want to escape the limitations of their local fiat currencies, is that as long as they have the control over their private keys, they control their money. CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article. However, he points out that this argument will not hold in the future, as trust in currencies rises year over year because of all the benefits described above. In terms of the market for cryptocurrencies itself, which has long-surpassed the one billion Dollar cap, it is rapidly filling up with institutional investors gearing up for the Web 3. As we develop our product within the cryptocurrency space, we constantly come across a fundamental question:. Most people need some kind of paper trail when it comes to accounting. A user can just download the software to interact with the blockchain on the internet, and start sending cryptocurrencies, no questions asked. Put differently, even though many types of assets are now accepted as sturdy forms of value to hedge inflation, capital could flow away from non-monetary assets towards monetary assets like cryptocurrencies, due to their state-free nature and other leading characteristics, as outlined above. We use cookies to give you the best online experience. Moving out of their infancy, cryptocurrencies will mature significantly within the coming years, overcoming their global scalability issues that need to be ironed out before wider societal adoption can ensue. Prev Next. If you run a small business and want to attract more customers by offering bitcoin payments, you may be wondering where to start. Because cryptocurrencies at least in terms of their original conception are completely permissionless, they provide a solution that is self-sovereign in terms of its nature. Originally published in Hackernoon. While cryptocurrency lending is anything but mainstream, the industry is incredibly profitable.
Be sure to let the customer know how much BTC to send since the fluctuations in price are likely to confuse. Think of countries such as Iran, Turkey, Venezuela, Argentina and many. Yes, the title might sound audacious, even if you're a proponent of cryptocurrency and blockchain technology. Please do your own research before acting on any of the information on CryptoSlate. He built his first digital marketing startup when he was a teenager, and worked with multiple Fortune companies along with smaller firms. No one can freeze or confiscate it. They are permissionless: Blockport is launching an official STO in April, conducting their first equity raise to facilitate global expansion and market penetration. Between andfewer than taxpayers bitcoins bbc news josh wise dogecoin Bitcoin gains.
Announcing CryptoSlate Research — gain an analytical edge with in-depth crypto insight. Originally published in Hackernoon. Some traders are using cryptocurrency as collateral to secure loans, allowing them to keep their bitcoin and get cash while avoiding capital gains tax. Potential market: Crypto market analysis and insight to give you an informational edge Subscribe to CryptoSlate Researchan exclusive, premium newsletter that delivers long-form, thoroughly-researched analysis from cryptocurrency and blockchain experts. Instead, crypto traders should ethereum or monero coinbase fourth themselves with the realities of crypto taxation and take these matters seriously. Popular searches bitcoinethereumbitcoin cashlitecoinneoripplecoinbase. Prev Next. Dash v0. Therefore, if you buy one coin and sell it to buy another, any gain is subject to tax. We'll get back to you as soon as possible. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies. De multi-biljoenen potentie van Bitcoin en cryptocurrency. The Team Careers About. Sign up to original bitcoin fork bitcoin storage usb informed. The supply of all the coins or tokens are clearly defined and publicly available. Other primary characteristics of cryptocurrencies is that they are interchangeable and censorship resistant — no governing authority can prevent any cryptocurrency user from spending their crypto. Buying and trading cryptocurrencies should be considered a high-risk activity. CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article.
Announcing CryptoSlate Research — gain an analytical edge with in-depth crypto insight. Bitcoin is simply another legal way to receive payment for goods and services. Our free , daily newsletter containing the top blockchain stories and crypto analysis. One of the most important things to understand about crypto taxation in the US is that the IRS considers virtual currency as property, just like physical assets. Learn more. All Rights Reserved. Join The Block Genesis Now. They will still be able to store their savings in cryptocurrencies for friends and family. Immediate exchanges will remove the risk of price fluctuations for bitcoin payments. This article is not financial or tax advice. The critical factor:
Understanding the basics
However, he points out that this argument will not hold in the future, as trust in currencies rises year over year because of all the benefits described above. Load More. Privacy Policy. To provide a well funded answer to this question, we first need to describe some of the characteristics that cryptocurrencies such as Bitcoin and Ethereum share: Cryptocurrency Crypto lenders offer no-tax loans with cryptocurrency collateral April 2, , Subscribe to CryptoSlate Research , an exclusive, premium newsletter that delivers long-form, thoroughly-researched analysis from cryptocurrency and blockchain experts. Keep in mind that just a few years ago, no one realistically thought people would rent out their homes to complete strangers Airbnb now largest rental marketplace in the world , let alone drive them around in their own cars Uber now largest taxi company in the world. Most people need some kind of paper trail when it comes to accounting. Originally published in Hackernoon. This means general tax principles, like capital gains, are applicable to virtual currency transactions. I consent to my submitted data being collected and stored. Because cryptocurrencies at least in terms of their original conception are completely permissionless, they provide a solution that is self-sovereign in terms of its nature. Blockport is an easy-to-use cryptocurrency exchange that bridges the traditional world of finance with the new digital economy of cryptocurrency. Think of countries such as Iran, Turkey, Venezuela, Argentina and many more. Like what you see? However, there are risks that go along with using crypto as collateral—cryptocurrencies are at a greater risk of price volatility, hacks, and thefts.
Software solutions that connect to multiple exchanges and wallets to give a clear view of what the blockchain shows are available and these should be used in conjunction how to pow mine decred how to refer in genesis mining the advice of crypto taxation experts to make sense of this seemingly complex subject. Between andfewer than taxpayers claimed Bitcoin gains. Instead, crypto traders should familiarize themselves with the realities of crypto taxation and take these matters seriously. There are further details on how to install BTCPay bitcoin coinbase irs bitcoin payment api. Using cryptocurrency as collateral to borrow money lets borrowers keep their digital assets while avoiding taxation of the cash, Bloomberg writes. How far could all of this really go? Over the course of this time period, people all over the world have started to acknowledge the vast potential of BitcoinEthereum and other cryptocurrencies in facilitating more digitally-accessible and inclusive economic systems. Having the address will allow the customer to prove the transaction took place through Block Explorer. If the main regulator of the biggest economy in the world announces this, it's a huge sign of the potential this technology can have in the future. If they can do this best crypto wallet canada do banks back cryptocurrency by entering the invoice number, so much the better. One thing is clear though; a practice of hiding your crypto trading activity is ethereum mixer how to start a bitcoin exchange site the right course. The IRS does not treat crypto assets as money; rather, as capital assets, similar to stocks or property. The only benefit mentioned when comparing gold to cryptocurrencies, is the fact that gold is older than Bitcoin, and therefore more trusted as a store of value. Trusting technology instead of shining metal. This is due to the fact that the Internal Revenue Service IRS in the US sees digital coins as capital assets or in some cases commodities like stocks and property, not as currency. As we develop our product within the cryptocurrency space, we constantly come across a fundamental question: Share Tweet Send Share.
In order to get a loan, borrowers give the lender cryptocurrency as collateral. Apart how many satoshis are in a bitcoin elray bitcoin debt, equities and real estate, other non-monetary assets are also used as wealth-storage mechanisms, from fine art to oil futures. Think of real-estate, debt, equities and gold. Be sure to let the customer know how much BTC to send since the fluctuations in price are likely to confuse. A way out One of the major benefits of cryptocurrencies for people that want to escape the limitations cex.io wont let me withdraw bitcoin top 10 bitcoin trading sites their local fiat currencies, is that prices for litecoin send bitcoin to wallet long as they have the control over their private keys, they control their money. He built his first digital marketing startup when he was a teenager, and worked with multiple Fortune companies along with smaller firms. The only benefit mentioned when comparing gold to cryptocurrencies, is the fact that gold is older than Bitcoin, and therefore more trusted as a store of value. Blockport STO results. Priyeshu is a software engineer who is passionate about machine learning and blockchain technology. The IRS has several methods of discovering foreign investments, including the use of subpoenas, and has specialised software that can examine files. Between andfewer than taxpayers claimed Bitcoin gains. A user can just download the software to interact with the blockchain on the internet, and start sending cryptocurrencies, no questions asked. However, based on well funded arguments and theories from thought leaders around the world, I multi cryptocurrency payment gateway avoiding taxes on cryptocurrency try to explain why a multi trillion dollar market capitalization for cryptocurrencies is not an unrealistic scenario in the near future. Potential market: Please do your own research before acting on any of the information best way to earn ethereum best james altucher podcast CryptoSlate. As it stands, there are currently more than 25 million digital-asset wallets that have been created for the purposes of storing cryptocurrencies. Please do your own due diligence before taking any action related to content within this article. Blockport launches initiative to increase awareness around cyber-security within the crypto industry. Both of these prerequisites are becoming more and more accessible at a global scale, even in third world countries.
A reflection and community update. Twitter Facebook LinkedIn Link. Beginner Intermediate Expert. The first potential market that cryptocurrencies can take a significant share from is the Gold, Silver and other-valuable-metals market. Bitcoin aside, we believe that cryptocurrencies in general, especially those focused on payment solutions, do in fact offer immense potential as future payment solutions. SALT One risk of these loans, however, is sudden liquidation in the event of a market crash. Kai Bennink, Founder - Blockport About Blockport Blockport is an easy-to-use cryptocurrency exchange that bridges the traditional world of finance with the new digital economy of cryptocurrency. Many people outside the cryptocurrency world often ask me: For now, the responsibility lies with all of us within the space to drive mainstream adoption. If the underlying cryptocurrency suddenly becomes less valuable, then part of the crypto is liquidated in a margin call to maintain the ratio of collateral to debt. Join The Block Genesis Now. Due to the popularity of the option, the crypto loan industry has been growing rapidly. Buying and trading cryptocurrencies should be considered a high-risk activity. Put differently, even though many types of assets are now accepted as sturdy forms of value to hedge inflation, capital could flow away from non-monetary assets towards monetary assets like cryptocurrencies, due to their state-free nature and other leading characteristics, as outlined above.
Don’t hide your activity
As Samani states in his essay: This article is not financial or tax advice. This will likely be determined by a weighted average basis of prices across multiple exchanges. Crypto market analysis and insight to give you an informational edge Subscribe to CryptoSlate Research , an exclusive, premium newsletter that delivers long-form, thoroughly-researched analysis from cryptocurrency and blockchain experts. Holding onto bitcoin payments can be risky. Priyeshu is a software engineer who is passionate about machine learning and blockchain technology. While Bitcoin addresses on a paper invoice are incredibly cumbersome, according to Bitcoin Wiki , you should probably add them anyway. Filing Your Crypto Taxes 6 months ago. As we develop our product within the cryptocurrency space, we constantly come across a fundamental question:. Community , Marketing ,. Apart from debt, equities and real estate, other non-monetary assets are also used as wealth-storage mechanisms, from fine art to oil futures. Apply For a Job What position are you applying for? If your customers are paying via your website, simply provide them with a URL to visit that displays the Bitcoin address to send the payment. Because cryptocurrencies at least in terms of their original conception are completely permissionless, they provide a solution that is self-sovereign in terms of its nature. When he is not solving the transportation problems at his company, he can be found writing about the blockchain or roller skating with his friends. Find out more about the Blockport STO.
You can just download the software for free and start sending money across the internet. Aside from these highly centralized crypto lending companies, there are also low-cost decentralized alternatives. This underlines the real shift that has to happen in order to achieve mass adoption: More specifically, if this scenario played out and investors wanted to bridge over to cryptocurrencies, they would probably move their wealth to privacy-coins such as Monero or Zcash Zcash is currently live on Blockportand Monero will be soon! At the beginning ofwe began our journey of building Blockport, a bitcoin gold software best mobile bitcoin wallet that makes cryptocurrencies accessible to first-time enthusiasts and experienced traders alike. The adoption of technological innovation moves in waves, with various tipping points along the way that can trigger sudden buy-in from the masses. Laser bitcoin lending how much taxes bitcoin, there will always be some discrepancy between the price you quote and the kraken fee credit code buy bitcoin online with paypal you receive, which may need to be bitcoin cost 2009 how to get a wallet for ethereum for in a specific way. All of these play a part in a proper crypto taxation calculation. Although gold is still mined today, the inflation thereof is relatively steady roughly 1. If you do want to take payments in bitcoin, check with your account first for advice on how to report them since tax compliance will vary depending on where multi cryptocurrency payment gateway avoiding taxes on cryptocurrency live. While independence from government intervention was one of msi radeon rx 570 8gb for bitcoin mining coinbase instant buy fee key tenets that Bitcoin was built on, the majority of cryptocurrencies now operate under far more scrutiny from the authorities than many early pioneers would have hoped. Blockport STO results. Sign In. Apart from debt, equities and real estate, other non-monetary assets are also used as wealth-storage mechanisms, from fine art to oil futures. Think of real-estate, debt, equities and gold. If the main regulator of the biggest economy in the world announces this, it's a huge sign of the potential this technology can have in the future. Unsurprisingly, one of the most interested government authorities is the IRS. While Bitcoin addresses on a paper invoice are incredibly cumbersome, according to Bitcoin Wikiyou should probably add them. Blockport kicks off more crypto listings, starting with EOS. Both of these prerequisites are becoming more and more accessible at a global scale, even in third world countries.
Keep in mind that just a few years ago, no one realistically thought people would rent out their homes to complete strangers Airbnb now largest rental marketplace in the worldlet alone drive them around in their own cars Uber now largest local bitcoin how long to send how much ethereum will make you a millionaire company in the world. Announcing CryptoSlate Research — gain an analytical edge with in-depth crypto insight. The author is not in any way qualified to provide any sort of professional advice. Some traders are using cryptocurrency as collateral to secure loans, allowing them to keep their bitcoin and get cash while avoiding capital gains tax. Planning Your Crypto Taxes? In terms of all other characteristics, cryptocurrencies are already superior to Gold and Silver. They are permissionless: Operating in the cryptocurrency space, people often ask us: There are further details on how to install BTCPay .
The way most merchants manage this is to quote clients based on the current market rate at the time of the price quote to the customer. In seeking the details of Coinbase customers, the IRS is clearly on a mission to uncover US citizens it believes owe crypto-related tax. Find out more about the Blockport STO. Prev Next. Having the address will allow the customer to prove the transaction took place through Block Explorer. As of now, there is no tax bill that would govern borrowing against cryptocurrencies, either. Filing Your Crypto Taxes 6 months ago. Not only that, the B form shows far more detailed information about individual transactions than the K does, which is needed to properly calculate crypto-taxation. Privacy Policy. Yes, 25 million is marginal in relation to global population statistics, but what makes this figure so staggering is that almost all of these digital wallets were created in the past 18 months alone. As mentioned, there are easier and faster payment gateways for accepting bitcoin, but you give up full control over the transactions. Blockport Business Update. As it stands, there are currently more than 25 million digital-asset wallets that have been created for the purposes of storing cryptocurrencies. Originally published in Hackernoon. Cryptocurrency Crypto lenders offer no-tax loans with cryptocurrency collateral April 2, ,
Both of these prerequisites are becoming more and more accessible at a global scale, even in third world countries. Think of countries such as Iran, Turkey, Venezuela, Argentina and many more. The Apr. If your customers are paying via your website, simply provide them with a URL to visit that displays the Bitcoin address to send the payment. They are extremely portable: Many people outside the cryptocurrency world often ask me: For updates and exclusive offers enter your email below. In terms of the market for cryptocurrencies itself, which has long-surpassed the one billion Dollar cap, it is rapidly filling up with institutional investors gearing up for the Web 3. The first potential market that cryptocurrencies can take a significant share from is the Gold, Silver and other-valuable-metals market. If a trader holds their bitcoin for a year or more, then they are eligible for the substantially lower long-term capital gains rate instead of getting taxed at the short-term capital gains rate.