/biz/ - Business & Finance

YOU CANT CASH OUT CRYPTO and here is why Anonymous Sat Jan 13 23:12:25 2018 No.6414559 [View]
File: 54 KB, 250x250, taxman.jpg [View same] [iqdb] [saucenao] [google]

Literally. You cant. Tell me /biz/ how to proceed.
I want this nice car. It costs $15 000. Ok:

>I cashout 1 bitcoin for it and send $15000 to my bank account
>Sheeeit now I have to pay taxes for cashing out the bitcoin.
>Ok, I need to cash out an additional 0.3 BTC to get $4500 to pay my taxes.
>Sheeeit I also need to tax 0.3 BTC cashing out, because its another taxable event.
>Ok I will cash out another 0.1 BTC to pay the taxes on the last cashing out it.
>Sheeeit I have to pay taxes on the 0.1 BTC.
..
>ad infinitum

YOU.CANT.CASH.OUT.YOUR.MEME.CURRENCY

Prove me wrong biztards.

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