/biz/ - Business & Finance

Reminder to linklets, all you need to make it is 5K, and possibly much less than that. See pic related:

>Both staking and interest payouts do not pay Boomer FICO welfare tax (7.5% tax for Medicare and Social Security).
>This makes both of these options better than waging since you will pay less taxes using either method.
>However, capital gains has a large tax bracket where you pay ZERO taxes. This can be abused with staking to pay extremely low taxes
>Capital gains pay no tax at all up for 39,375 (or 78,750 if you are married)
>This makes staking far more attractive than regular earnings options as if you have a larger amount of income that cannot be taxed
>For example, if you decide to only cash out 100k worth of of LINK per year, you would only pay 3,188 in taxes, roughly 3% if your income.
>A married wagie earning 100k a year through their employer would be 23,060 in taxes, roughly 23% of their income.
>As long as you are careful with the "hold for one year" aspect of capital gains, you can nearly avoid paying taxes, LEGALLY.