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189 sats \ 2 replies \ @kristapsk 24 Nov \ on: Pricing in BTC bitcoin
Merchants as legal entities need to price everything in fiat, as that what are accounting requirements from the government, also taxes need to be paid in fiat.
When doing person to person trades, I often look at the BTC/EUR exchange rate, set price in sats and don't look at volatility for a next few days.
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33 sats \ 1 reply \ @sancristrader 24 Nov
The transaction will be considered as payment in property, which is perfectly legal. When doing taxes the merchant will have to report the income based on fair market value of Bitcoin in fiat at the time of the payment.
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0 sats \ 0 replies \ @Fiatrevelation OP 24 Nov
Interesring. Maybe a good best practice then to keep a spreadsheet of the purchases with their $/btc value at time of purchase then. Unless there are apps that automate this.
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