/biz/ - Business & Finance

Need help on tax ambiguity.

For example, I buy 1 ethereum for 200 and hold. Then a few months later, I want some neo. So I buy 1 ethereum for 300 and immediately exchange it for neo.
Do I have to pay taxes on the gains on the initial ethereum I bought for 200, or the ethereum I bought a few months later for 300?

How the FUCK do I avoid taxes? I currently have nearly $1m in long term capital gains from crypto that I have yet to cash out. So at the most, I'll have to pay 20%

How do I pay LESS?

https://www.ccn.com/irs-prepares-bring-hammer-bitcoin-tax-cheats/

AMERICANS BTFO

better start paying those taxes burgers shaniqua ain't gonna pay for her 8 kids by herself lmao

https://www.youtube.com/watch?v=PvoiGrpeEuE

It's game over now

Sup /biz/

We've recently created a Slack channel in which to share, discuss and plan for arguably the biggest menace crypto will be facing in 2018, taxes. The goal of the Slack channel is to discuss the current regulatory lay of the land, the most efficient ways to minimize your tax burden, the most crypto friendly tax jurisdictions, past experiences and others.


We will be conducting ongoing research, post resources we find, conversations we've had with official tax authorities and law firms who can provide with legally binding statements and any material that will help make educated decisions regarding your future moves.


Whether you're a crypto millionaire who's panicking over the prospect of parting with 50% of your wealth or an ambitious NEET who wants to maximize his gain profits, this is the ideal place for you.


Do yourself a favor and join our community today: https://join.slack.com/t/biztaxes/shared_invite/enQtMjk4MTgxOTk1ODMxLWU5YmE5NDRkMGVlYTgyY2U1ODdlMjU4MzdmNjhmMzM0MTJlNGZhZGMxZDk2MGQ2ZGEzMGY2MzQzZmRiZmI1MDA

Sup /biz/

We've recently created a Slack channel in which to share, discuss and plan for arguably the biggest menace crypto will be facing in 2018, taxes. The goal of the Slack channel is to discuss the current regulatory lay of the land, the most efficient ways to minimize your tax burden, the most crypto friendly tax jurisdictions, past experiences and others.

We will be conducting ongoing research, post resources we find, conversations we've had with official tax authorities and law firms who can provide with legally binding statements and any material that will help make educated decisions regarding your future moves.

Whether you're a crypto millionaire who's panicking over the prospect of parting with 50% of your wealth or an ambitious NEET who wants to maximize his gain profits, this is the ideal place for you.

Do yourself a favor and join our community today: https://join.slack.com/t/biztaxes/shared_invite/enQtMjk4MTgxOTk1ODMxLWU5YmE5NDRkMGVlYTgyY2U1ODdlMjU4MzdmNjhmMzM0MTJlNGZhZGMxZDk2MGQ2ZGEzMGY2MzQzZmRiZmI1MDA

http://www.trustnodes.com/2018/01/09/bitfury-de-anonymises-millions-bitcoin-transactions-addresses

How can I realistically cash out in the EU without paying a cent to those fuckers? Or at least not a fucking quarter of all my gains.

Legit burger crypto millionaire with a second EU citizenship here. I've decided that I'm renouncing my US citizenship this year due to the impossible tax burden placed by the IRS and their global taxation policy and I'm moving to Europe.
What's the ideal country in Europe to move to knowing that I'm eligible for residency anywhere in the EU? I'd like to minimize my tax burden to the extent possible.

>don't report your gains to the tax authority
>can't ever cash out or use your money in any official capacity
congrats, you just blacklisted your entire wealth to save 20% of it
I though this board was supposed to be smart

ITT we will discuss all methods of cashing out anonymously and in a civilized language, i.e not a bunch of Germans secretly plotting to invade Europe using krautspeak

What will you eurofags do when the IRS obtains information from all U.S based exchanges and automatically relays information about you to your local European tax authorities?

where can I run to escape crypto taxes?

For EU citizens, what's stopping you from starting a skeleton corporation in Portugal (around 600€ cost), registering it, then depositing all your crypto gains to the company's account, which stays untaxed because Portugal announced it's not going to tax crypto?

Then, with that legal Portuguese money, you can transfer them legally to any EU bank right? So you return to your country after your 30 day trip, and you're done!

There must be a caveat for the EU to Jew you but I do not know it yet

Give me low market cap hidden gems.
All except the few I already bought:
Worldcore (WRC)
Rivetz (RVT)
Change (CAG)
Propy (PRO)

So I bought a ton of bitcoin and eth($35,000) back in july and sent it to an enhanced verified bittrex account. I bought NEO around $8 and did a bunch of stupid moves moving in and out of NEO trying to increase my stack but ultimately lost 200 NEO in the end of everything. If I add up my entire costs of putting USD into Gemini/Coinbase(35,000) can I use that as my intial and not be taxed because i bought around 4300 shares of NEO but only have 4150 now? It doesnt seem fair to buy 4300 NEO and now have less and still owe taxes on those dumb in and out trades.

Okay guys serious question here non related to crypto. Between 2012 - 2014 I did not pay any income tax but wasn't careful while spending I have loads of shipments and purchases, so now I received a letter that an investigation has been scheduled for January. I need to provide explanation for income worth of around 20 - 30 thousand dollars.

Any suggestions, pelase Help!!

How do you not get jewed by taxes when cashing out?

>tfw paying $13k a month in taxes

How fucked are you /biz/?

>https://www.irs.gov/irb/2014-16_IRB#NOT-2014-21

>underpayments attributable to virtual currency transactions may be subject to penalties, such as accuracy-related penalties under section 6662. In addition, failure to timely or correctly report virtual currency transactions when required to do so may be subject to information reporting penalties under section 6721 and 6722.

>Gdax down
>Coinbase down
>Gemini outage
>Kraken outage

Holy shit. Normies crashed almost every popular exchanges

> Recently sold property
> Need to pay 40% in capital gains tax
> That amount itself could probably buy another luxury home

How is this not theft?

Why is it so fucking hard to invest in crypto? To convert fiat -> crypto?
My bank doesn't allow sending to exchanges, and using a card requires verification on exactly everything. Bitcoin ATMs work but I had to talk to a police officer because I deposited 8k in cash. They thought I was laundering money.
How the hell do I get 40k worth of btc already?

My portfolio I was about to acquire is already +150% of missed gains.

Tell me, you make over 100k per year in crypto gains but you still stay in your retarded country with 35% tax when you can move and pay ZERO tax on your income.

Why do you do this?