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cloud fodder 1y ago

Running a business that accepts Bitcoin in my state (Washington) is incredibly hard. Can't use Zebedee or anything easy cause they can't navigate the law. So I run my own node(s) with lnbits and do all my own accounting and taxes. I do this because I want to help pave the way and prove that accepting Bitcoin and lightning is legitimate to the Gerry government suits.

Through success or failure, I want to do my part to give back what Bitcoin has given me. That's why I'm running nostr and that's why I'm running bitcoin.

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John (Clams) 1y ago

How long does it take to do your accounting and taxes? Any tips for other small businesses that want to do similar?

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cloud fodder 1y ago

I do spend a lot of time on it but it's more of a long term thing where previous years learnings help the next years. I guess if I had any tips it would be: don't underestimate yourself, laws are just paragraphs that you can read and understand. Give yourself time, make the calculations with a spreadsheet and/or scripts, it gets easier the more you do it.

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ManiMe 1y ago

I’m so daunted… and impressed.

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John (Clams) 1y ago

Thanks for the insight. We (Clams) are hacking on a project right now that could probably help out a lot. Think quickbooks, but bitcoin only. If that sounds like something you’d be interested in I’ll def reach out to you when we have something worth showing.

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cloud fodder 1y ago

cool! Ya I appreciate so much anyone doing this kind of thing and would take a look. As the years go by, it gets better and better.

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John (Clams) 1y ago

Sweet, I’ll be in touch then!

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NotBiebs and 69 others 1y ago

You could use Strike. The API is really easy to use.

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cloud fodder 1y ago

That's good news, looks like they do have a license in WA, maybe I could use this in the future.

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NotBiebs and 69 others 1y ago

If you open a business account, I think you can do more things, but there’s a fee you have to pay on every tx. Using the API with your personal account doesn’t have any fees.