/biz/ - Business & Finance

>>11056279
Have you ever pawned anything before? They pay 10%.

>>11056308
Well if the goldbugs are right and the price will go up, I might even come up on top and profit

They report everything to the taxman, dude.

you can always get over spot for american eagles. apmex will buy the gold 24/7. surely there is a coin dealer who will also in your area pay over spot for gold eags

>>11056384
>The transaction is almost always private. There is no reporting requirement from a gold dealer to the IRS of what we sold to you, unless BOTH of the following conditions exist:

>1. The transaction(s) exceed $10,000; AND
>2. Actual cash (or money orders, bank or certified checks, etc.) is used to make the purchase(s).

>>11056326
Sell on ebay or to bullion dealers. You'll take $50-100 haircut on each coin in this market, but its still cheaper than tax. Also, try either buying things in btc or bullion before going the cash route.

>>11056279
Not doing it to evade taxes, but for ever $1MM I cash out over the next 5 years I will be putting 1.5% into Gold or Silver. Maybe more depending on market conditions.

>>11056279
Just use payfair.io jesus

>>11056326
they are wrong though

>>11056308
You dont sell gold at a pawn shop thats for retards
>>11056279
yes sell at a coin shop they will give you slightly under spot value but its still a good way to cash out. where I live there are zero taxes on sales or capital gains on precious metals so if you are talking about moving lots of ounces look up your local taxes and sell at a few different coin shops to keep them from making a report

>>11056668
The pawn shop route is more if you want to trade PMs for something.

>>11056308
>Pawning anything
Now guess how I know you're a broke ass monkeyman

>>11056279
Yes, it's a solid way to cash out. I've known a few people who have done it. There's no reporting requirements on AGE's

>>11056668
>to keep them from making a report
they all ask for my ID

>>11056479
Now why the hell would anyone with a positive IQ use ebay for bullion?
Get off your dumbass and go hawk it at an auction house to some boomers or better yet a dealer fair.

>>11056279

Buy DGX. Fly to Singapore. Collect bullion. Done.

Just cash out overseas

>>11056933
how?

>>11056760
Depends on what he buys nigger. 1oz silver rounds? Ebay. 1oz gold? Ebay depending on what coin it is (certain runs are much>>11056760
more valuable than spot). Lots of gold? Coin shop/APMEX.

nigga how can "Cant cash out" be real if bitcoin atms exist? jsut like use it mufugga. smdh senpai

>>11056939
If you are US citizen just live and become a resident in Puerto Rico, Guam, or any territory for 6 months. No taxation without representation the brown folks have no representation so uncle sam doesnt tax em. I was a military Brat and lived in Guam for a few years wonderful place.

>>11057007
Is it really that simple?
>Guam
I can just plant my nerdy ass on the beach, shitpost 'n' sip until I can cash out for free? SUrely there's a catch

>>11056939

Set up a BullionStar account (located in Singapore), buy your bullion, and have it stored in an allocated vault away from the prying eyes of FINCEN.

>>11057048
how would I get the cash back in my hands in the US though

You can buy cash on the deepweb.

>>11057062
no you can't.

>>11057062
>>11057073
unless you mean fakes which is retarded

>>11057014
Yes look at how many people moved to Puerto Rico before and after the hurricane. Look it up become a resident and you dont pay capital gains.

>>11056308
>implying you have to pawn large amounts of gold and can't sell directly to apmex

>>11057000

>bitcoin atms

Are they even anonymous? Besides, there's propably like 5k max cash in them.

>>11057109
>become a resident and you dont pay capital gains
I imagine you still have to prove that you acquired the crypto while a resident. In other words, you can't just skip town and live in PR for a while and cash out your BTC that you bought 3 months ago while residing in the USA

>>11057120
No http://premieroffshore.com/move-puerto-rico-pay-zero-capital-gains-tax/

>>11057126
Right, this is for gains accrued while you're a resident, you can't simply move there and cash out and expect not to pay tax on it

>>11057118
i can wait for restocking. i think its typically 1k per day no personal info needed. seems fine for my plans, assuming we all dont kill ourselves before mooning

>>11057156
>i can wait for restocking. i think its typically 1k per day no personal info needed. seems fine for my plans, assuming we all dont kill ourselves before mooning
you in EU?

>>11057156
Where are you going to put the cash though? Get a high quality hidden safe and do not tell ANYONE about it.

>>11057048
Then what?

>>11056279
Does this count as money laundering?

>>11057199
only if you're laundering money.
google the actual definition of the term

>>11057199
Tax evasion, so pretty much as bad. The IRS doesn’t fuck around.

>>11057199
This would be tax evasion if they could prove anon had exchanged btc for gold, then gold for money with the intention of avoiding paying tax on capital.

>>11057175
how much do you think we're gonna cash out

>>11057246
>The IRS doesn’t fuck around.

>>11057246
>>11057268
Okay, well it it's "illegal" then why is it even possible in the first place? Aren't most people buying gold with BTC doing it explicitly to evade taxes?

>>11057274
I was assuming you meant large sums of money, kek.

>>11057310
the absolute state of american public education

>>11057310
Just because it is possible to do something, that doesn't make it legal..

>>11057316
we've waited this long, whats 3-4 months to cash out 100k? what if you happen to be within distance of more than one atm? its not fuckin difficult, dont over think it.

>>11057399
I was not saying it would be difficult to do, I was advising you to find a suitable place to store your cash when you do so..

>>11057310

Using a credit card on PM often means a 3%+ fee to cover credit card costs. It could often be cheaper to buy btc and pay with that depending on the current exchange rates, also the rate for bitpay is often different than you get on your exchange. tl:dr its easy and cheaper than visa.

also just because something could be used in a crime doesn't mean it shouldn't be outlawed. Go back to your euro/coastie cuck shed

>>11057309
Enjoy your time in federal “fuck me up the ass” prison nigger.

>>11057450
god damn, you're stupid

>>11057143
I think you misread it. No long-term gains after 183 days of being a resident irregardless of when you first bought whatever 1 year, 6months, or 10 years.

>>11057492
>irregardless of when you first bought
where does it say this?

>>11057073
>>11057079
Yes you can you retard. Drug dealers need to turn their bitcoin into cash too.

>>11057509
nobody is buying crypto for cash on dnm.

>>11057520
Why wouldn't they be?

>>11057525
that's beside the point, the point is that they're not and you can check for yourself and it takes all of 5 minutes.

>>11057118

>Are they anonymous
>Implying they don't have 10 cameras trained in on the ATM and another 10 on the entrances and the surroundings

I'd go as far to say that the ATMs are even worse, since they now have your face, and video proof

>>11056279
Funny I was just about to make this thread

>>11056766
But they have strict KYC

>>11057014
It is nowhere near that simple

>>11057980
>It is nowhere near that simple
give me the rundown

>>11057987
basically you need to "cut all ties" from mainland etc, look it up

>>11056766

https://digix.zendesk.com/hc/en-us/articles/360001811451-What-are-the-steps-to-redeem-the-gold-

This is what I meant, risky if you want to stay anon/avoid tax

>>11058070
so I close my bank accounts and bug out--doesnt seem so bad.

>>11058070
>https://digix.zendesk.com/hc/en-us/articles/360001811451-What-are-the-steps-to-redeem-the-gold-
yikes
why not just buy from jmbullion and sell local? this seems utterly pointless

>>11058088
>why not just buy from jmbullion and sell local?
That's what I'd do, unfortunately not American

>>11058079
It is turning out to be almost impossible to cut ties to my shit euro country and I wish I never tried. Cannot imagine how much of a nightmare it has to be to deal with the IRS and doing this in the US

>>11058142
>Cannot imagine how much of a nightmare it has to be to deal with the IRS and doing this in the US
yeah, seems like alternatives are better desu

>That's what I'd do, unfortunately not American
sorry to hear that m8

>>11056974
I wouldn't recommend apmex anymore, they are starting to enforce more and more sales tax for various states.

>>11057533
I have before, I buy drugs off there.

>>11058179
which market dudeski? all I can find are fakes which I am 100% not interested in

I do not wish to break any laws sam I am

>>11058187
We'll you're wanting to evade taxes, that's a crime. Try Dream.

>>11058245
>We'll you're wanting to evade taxes
lol fuck off glownigger
>Try Dream
nada

>>11056279
It depends where you live but I recommend going to a jewelry store (preferably an Arab owned one). They will give you a fair market price. Do NOT go to any pawn shop or "cash 4 gold" store.

>>11058179
I hope you're posting from a secure computer lol, glowinthedarks watch these threads

>>11058263
Apmex will take any amount of AGE's, and they are not subject to any reporting requirements since the coin didn't exist when the laws were written.

>>11056384
Wrong

>>11058287
Literally the least of my worries.

>>11058287
he is one

>>11058287
you're talking to the FBI retard

>>11058774
right..

>>11058774
>>11058784
he is right though

>>11058815
The FBI is asleep, it's after 5 retard

>>11058257

Just out of curiosity i checked on dream, you most definitely buy cash with crypto on there. Look harder dude

>>11059093
Thanks for the heads up glownigger

>>11056279
OP you can cash out until you renounce your shitizenship to the states. Every bank in the world from 2016 onwards have to report US citizen bank details everywhere in the world (obviously not offshore accounts held through proxy companies is another option). Tip top Kek. Though you could sidestep uncle Sam nah

>>11056279
Shut the front door

Honeypot

Stop talking

Mib are here

buy drugs from dnm
sell the drugs irl
make gains on your CASH out, no tax, fed dont know shit about it, just get into your bank account (countless ways to do this)

>>11059953
all fun and games till you get a love letter

>>11057079
Well you can if you have the right contacts... I wouldnt trust a single listing on any dnm offering this service though as its 100% counterfeit.

>>11059958
practice proper opsec and use a drop you have easy surveillance over, shouldnt be a worry
police are stupid asses and arent able to incriminate you unless you incriminate yourself.

>>11059977
i know. tails, connected to a router that uses sets up an openVPN. still has happened a few times due to fucking dumb vendors on CGMC using fucking ziplocks and indexcards as stealth

>>11056279
you dont have to pay taxes on a 90% loss nigga

>>11056308

On pawn stars a guy sold rick a 100k pile of Silver and rick said he was only going to make a grand or two off the deal

>>11059958
Someone frequents the drug boards

>>11056279
How do you get cash into your bank account after selling the gold?

>>11057888
jesus, baseball cap and sunclasses and here you go. Leave your smartphone at home, and don't leave any fingerprints at the atm, eZ

>>11056498
Imagine putting less than 10% into metals

>>11060216
thanks sold 100k

>buying physical gold

>>11060527
This is one problem yeah

>>11061337
This is the only real problem. How the fuck do you want to get piles of cash to the bank.

>Inbefore some inherit meme advice>>11061337

You can cash out in gold on Bitstamp

>>11056427
If you need to cash out in gold (or some other obscure way) instead of just using local btc, crypto atm etc. then you’re probably looking to cash out more than 10k in total.

>>11057014
It’s not that simple.

>>11061409
Do it over different accounts / wallets / persons / vpns and all below 10k.

>Rinse and repeat

Now you have 500k in gold. What you gonna so now?

>>11061423
Hold it for a decade and it will be 1m in gold.

>>11060216
>believing the pawnshop owner
>oy vey, sell me your gold hahaha Im losing money on this guy. you so smart no sell me your gold *rubs hands*
not gonna make it buddy

>>11056279
JM Bullion will send a 1099 to the IRS when you purchase over $10k.

>>11057450
at worst the IRS shows up at your door, you claim you made a mistake, and work out a payment plan

>>11061950
>>11061979
There's no reporting requirement on Gold Eagles
https://www.apmex.com/faq/tax-information-on-gold-silver-buying

>>11056279
>GOLD
LOL, just hold Bitcoin
cash when (You) need money, but not in USA

>>11057062

and what else have you been buying on the deepweb

>>11061663
Oh dear....

>>11062398
don't be a faggot, gold will still have strong value after a decade, when 99.9% of your shitcoins, including bitcoin, are dead and long forgotten

>>11061979

>at worst

Lel, if you get flagged that's actually the best case scenario

At worst they find you guilty of fraud/tax evasion and you go to prison. Also if there's suspicion of fraud there's no statute of limitations. The 7 years rule only applies to non criminals. Good luck kid

>>11062049
People need to pay attention to this. You can sell a MILLION DOLLARS worth of Gold Eagles and you DO NOT have to report that to the IRS. This is the biggest loophole of all time, I'm not joking. The IRS can't do ANYTHING about it.

>>11056427
>>1. The transaction(s) exceed $10,000; AND
making a lot of sub 10k transactions is illegal and called "structuring" they bust people all the time for it

>>11062886
That's for buying, not selling. You can buy 8 Gold Eagles for just under $10k, and there's dozens of dealers to do that from. Buy a bunch of eagles in sets of 8, no reporting required on their part. Then sell all to APMEX in one lump sum, again, no reporting required on the eagle sale no matter how many coins it is.

>>11062954
>>11062723
sauce or gtfo

>>11063064
>https://www.apmex.com/faq/tax-information-on-gold-silver-buying
Look at the list. Gold Eagles are absent, there's a reason why. Look at APMEX #1 gold seller, it's the Eagle, there's a reason why.

>>11062688
Triggered by oh dear, fucking gold Bug. Nobody cares about the value of gold. Only used for laundering anyway

>>11063096
I will send a request aka mail to debunk that shit

>>11063132
Yeah, that's why countries like Russia, China, India, etc. are stockpiling it like crazy. It's just for shits and giggles mate.

>>11063145
There's nothing to debunk. Gold Eagles aren't on the list because the guidelines were written BEFORE the coin existed and they never updated it. This is a FACT. I know people who have done this with crypto before, it works.

>>11063148
It's called hedging and obviously you better throw your money into assets.

>Look the EZB is buying stocks and bonds
All in into stocks and bons

>>11063153
>I know people who robbed a bank, it works

>>11063168
epic argument dude, I bet you won many debates on Xbox live

>>11063172
You are basing your argument on a personal story, everyone else isn't allowed to.

>Mhm okay

>>11062954
>That's for buying, not selling. You can buy 8 Gold Eagles for just under $10k, and there's dozens of dealers to do that from. Buy a bunch of eagles in sets of 8, no reporting required on their part. Then sell all to APMEX in one lump sum, again, no reporting required on the eagle sale no matter how many coins it is.
If you do this, or anything like this over and over again for the purpose of not reporting it to be taxed it is called "structuring" and it is tax fraud.

Everything you have thought of or will ever think of to cash out your thing of value into US Currency without paying taxes has been tried and thought of before and it's called "tax fraud"

you might be able to find ways of doing certain things that are not in and of themselves illegal, but if your intent is to not pay taxes, it is illegal.

explain to me what you don't understand about this

>>11063153
>This is a FACT. I know people who have done this with crypto before, it works.
knowing someone who got away with a crime does not make the act itself not a crime

>>11063183
No faggot I didn't base my argument on a personal story. I literally linked you to the IRS reportable list for precious metals. I guess your IQ isn't high enough to read a list and see that Eagles aren't on it.

>>11063200
It's not a crime, read the god damn list you braindead fucktard.

>>11063183
>>11063200
kys, both of you

https://www.coinworld.com/news/world-coins/2012/09/what-coins-are-reportable.all.html
>Note that modern U.S. bullion coins such as gold and silver American Eagles are not on the list, and in my opinion, coins bought and sold for numismatic value (rather than metal value) are also excluded.

>>11063214
>It's not a crime, read the god damn list you braindead fucktard.
If you do anything to change something of value to USD with the intention of not paying taxes, it is tax evasion and a crime.

Why do you think everyone on earth does not cash out their 401k by buying $8000 of gold eagles at a time then selling those for cash?

do you think you are some kind of genius?

>>11063224
>>Note that modern U.S. bullion coins such as gold and silver American Eagles are not on the list, and in my opinion, coins bought and sold for numismatic value (rather than metal value) are also excluded.

what do you think tax evasion is?

>>11059977
What's a drop?

>>11063232
There's no LEGAL requirement to report Gold Eagle sales. It's NOT a crime.

>>11061950
In one purchase, not cumulatively

>>11063194
This

>>11063281
>There's no LEGAL requirement to report Gold Eagle sales. It's NOT a crime.
god you are dumb

If you have a million dollars of bitcoin you bought for $1000 and buy a million dollars of gold eagles 8k at a time and sell them for cash, and wind up with a million dollars in cash and never report it as taxable... then you have committed a crime. How you got there is not relevant. Having all that unreported profit in USD is what is relevant.

explain this if what you are saying is right:
Why do you think everyone on earth does not cash out their 401k by buying $8000 of gold eagles at a time then selling those for cash?

>me buy gold with illegal shit and not pay taxes
>me genius
>nobody else ever think this

>>11063311
You're dumb, you can't convert a 401k directly to eagles, so I don't even know why you're suggesting that as an example. There's no requirement for reporting sales from Eagles. And if you buy in increments of 10k less from multiple dealers, there's no requirement for them to report either. No crime has been committed since everyone followed the rules.

>>11063332
>And if you buy in increments of 10k less from multiple dealers, there's no requirement for them to report either. No crime has been committed since everyone followed the
if you started with bitcoin profits and wound up with USD and did not report it the crime is tax fraud

>>11063335
No it's not, because you didn't break any rules to do so. It's a loophole, not a crime.

>>11063344
>No it's not, because you didn't break any rules to do so. It's a loophole, not a crime.
wow

>>11063344
Tax evasion on another level.

>Nono Mr IRS. It is a loophole!

>>11063346
People take advantage of loopholes all the time. It's not a crime. Why do you think big companies have accountants to do the same thing to minimize their taxes.

>>11063311
You're a moron

>>11063356
Well Hillary used the same defense for her email server. FBI said, well she didn't have any intent to commit a crime so it was ok.

>>11063368
not an argument

>>11063357
the not reporting each transaction thing is not meant as a loophole for tax evasion, it is meant to facilitate commerce.

You don't have to report every single transaction of $5 to the IRS. However if you do a million of these transactions and at the end of the year do not report the millions you made as profit to the IRS to be taxed, that is a crime, that is tax evasion.

that is what you are doing

>>11063344
Well, failing to pay tax is a crime, you've just done so in a way that gives you the abiliy to commit that crime, unlike cashing out to a bank.

I thought you were knowledgeable but now you just seem like a moron. Morons everywhere.

>>11063371
I'm convinced you're trolling

>>11063387
well personally I would just sit on the gold and only cash small amounts out when I need it. the value will still be there over time, it's the tether of PM's

>>11063372
I agree with you to some extent but your 401k example is absurd

>>11063409
No sir, I'm not.

>>11063421
See, that's what I said as well.

>>11063410
still the same crime, it seems you realize it's a crime and are just trying to figure out how to get away with it, which is fine.

just so you know what you are doing

>>11063421
>I agree with you to some extent but your 401k example is absurd
it was meant to be absurd, as in "if what you are doing is not tax fraud why do we all not do it? Your bitcoin profits are no different than any other profit anyone else has and nobody anywhere wants to pay taxes"

>>11063357
>>11063356
If you're going to do this, hire a lawyer and accountant before landing in jail because of 4ch.

>>11063427
it's not a crime if you just sit on the gold and cash small amounts out when you need it

>>11063332
You commit a crime when you fail to pay tax, just so you know.

>>11063443
>it's not a crime if you just sit on the gold and cash small amounts out when you need it
yes it is.

if the small amounts over time equal a million dollars in profit that's a million dollars in profit you never paid taxes on

explain in detail why you think it's not and don't just say "no it's not"

>>11063447
you don't have to pay taxes on the gold, which would be my strategy, I wouldn't convert the gold to fiat, I'd just keep the gold. it's hypothetical for me since I don't have any serious amount of crypto anyways

>>11063462
>it's hypothetical for me since I don't have any serious amount of crypto anyways
dropped

>>11063435
Your example is absurd because money in a 401k is already in the banking system, subject to KYC AML, whereas bitcoin and gold are not. It's completely different. You can bet your ass that if normies could do it, many would.

The entire point of crypto is that it enables you to truly control your own wealth

>>11063454
>if the small amounts over time equal a million dollars in profit that's a million dollars in profit you never paid taxes on
I would keep the gold itself, not convert to USD. So in my scenario you wouldn't have to pay taxes because there's nothing to pay taxes on.

>>11063471
>because money in a 401k is already in the banking system
exactly senpai

>>11063471
>The entire point of crypto is that it enables you to truly control your own wealth
then just buy goods and services in crypto stop trying to go from crypto to fiat

what is the difference between "1 crypto" and "1/1000000 of the ownership of ford car company"?

hint: nothing

>>11063462
I'm just telling you that it is indeed a crime not to pay taxes so be aware of that

Found this primer on the ins-and-outs of reportable transactions - i.e. requiring a Form 1099-B to be filed - involving bullion (take note of the exempt items, which includes the American Eagle bullion coins).

>>11063487
Jesus Harold Christ

>>11063462
why not just convert it to other crypto or keep the coin you have

easier to buy shit with crypto than gold bullion and probably less shady

>>11063503
not an argument

>>11063488
You might be right, but I would not convert Gold to Dollars, I'd just keep the gold, and maybe sell an ounce here and there on craigslist for cash (off the grid). I'm not greedy, I have everything I need so I'm not looking to buy a yacht or a lambo.

>>11063454
You're arguing the wrong points.
As soon as you make *any* purchase with crypto it is tantamount to selling the crypto and is a taxable event.
Buy a car with crypto, that's a realized gain and you're required by law to pay the tax on the purchase.
Buy gold with crypto, same thing.

>>11063515
You're an idiot

>>11063523
also not an argument

>>11063521
That seems reasonable
Remember to pay your taxes goy

>>11063371
Hillary doesn’t go to jail, you will though.

>>11063522
>Buy a car with crypto, that's a realized gain and you're required by law to pay the tax on the purchase.
>Buy gold with crypto, same thing.
I agree, just trying to see why other people don't think so

>>11063522
In theory, but that's a conservative interpretation of outmoded legislation and it's dependent on self-reporting

Suppose you're magically able to pull off this Bitcoin for gold scheme and now you have a million dollars cash. What are you gonna do now? Pay cash for gas and groceries for the rest of your life?

>>11063540
>and it's dependent on self-reporting
It is always dependent on self reporting.

That's what people in here are not getting, they are focusing on "THIS IS NOT REQURIED BY THE OTHER PARTY TO BE REPORTED"

and not realizing that at the end of the year if they had a shit ton of realized profit and don't self report, they are evading taxes and committing a crime

>>11063557
there are worse fates

>>11063557
>Pay cash for gas and groceries for the rest of your life?
Why not? That gives you complete anonymity from the banking system. I guess until they ban cash next decade.

>>11063560
>It is always dependent on self reporting.
This is completely wrong or disingenuous at best. You are responsible for reporting your own tax liability but if you cash out a 401k, every intermediary between you and your cash is filing documents on your behalf, buttercup. That's what these 10k requirements are. What do you think happens then? They send a CTR to the IRS. What if you're structuring and using a bank? SAR. Get your head out of your ass. It's not the same.

>>11063557
He already said he's going to hold gold which is smart, gold is a modest hedge against inflation so at least it's not melting away

>>11063557
lay super low for 7 years I guess, but I would just declare my cap gains and re-invest with money that's not dark

>>11063585
>Get your head out of your ass. It's not the same.
explain to me how you could have a million dollars worth of bitcoin and convert it to fiat without committing the crime of not reporting that profit to pay taxes on it

>>11063344
Fucking brainlet
it is 100% a crime

>>11063601
>without committing the crime
That's not what I said. You're responsible for reporting in both cases. The difference is that in one case it's entirely your responsibility and in the other someone has filed documents for you already.

Pay your taxes.

>>11063601
Well I wouldn't convert it to fiat, I'd just leave it as teh gold. The other people like OP want the fiat so they can buy stupid shit like lambos and yachts.

You would have to buy/sell the gold really slowly anything over 10k and (((they))) will be watching
bullion dealers are required to let the IRS know with anything over 10k below and is private

When you buy precious metals in the US...

The transaction is almost always private. There is no reporting requirement from a gold dealer to the IRS of what we sold to you, unless BOTH of the following conditions exist:

1. The transaction(s) exceed $10,000; AND

2. Actual cash (or money orders, bank or certified checks, etc.) is used to make the purchase(s).

>>11063581
Probably because the loss in purchasing power from holding cash instead of keeping the money in assets = you lose more than you had lost from simply paying taxes

>>11063624
>The difference is that in one case it's entirely your responsibility and in the other someone has filed documents for you already.
nobody ever said differently

>>11063662
Like I said, I wouldn't hold fiat, but that's just me.

>>11063665
I'm making the distinction that in one case someone else is filing for you and in the other they are not. It's a crime regardless. We don't disagree there. But you cannot "cash out your 401k to gold" and achieve the same thing—it's literally impossible. That is the point I'm making.

Anyway, pay up, goyim

>>11063687
we see you are making that distinction, good for you

enjoy ur distinction

>>11063687
But, since most states don't tax bullion, there's no taxes when buying gold with crypto and just stopping there, correct?

>>11063504

Also, any purchases involving $10,000 will trigger a FinCEN currency transaction report (CTR) via a Form 8300 filing... even if smaller transactions totaling just below the $10,000 threshold are made within a short time span. Buying eight 1 oz. American Gold Eagles (totaling $9,600 at the time of this post)? Yep, the seller will notice that and be obligated to report that transaction.

>>11063697
>enjoy ur distinction
With great distinction

>>11063707
Why would they report something that is UNDER the threshold. That makes no sense.

>>11063705
You've committed a crime when you failed to meet your tax liability, full stop. The only thing using gold accomplishes is potentially obfuscating that fact. It doesn't matter if they do or don't tax bullion, because you owe tax when you buy the bullion.

>>11063716
>involving $10,000

>>11063718
>It doesn't matter if they do or don't tax bullion, because you owe tax when you buy the bullion.
But why would you owe tax on something that isn't taxed? Plz explain.

>>11063716

It's called "Structuring" in banking jargon.

>>11063730
>But why would you owe tax on something that isn't taxed? Plz explain.
read this >>11063522
he's correct

>>11063737
Structuring is a crime and they have to prove intent to prove structuring occurred

>>11063730
>>11063742
and read my response here: >>11063540

>>11063742
But if you're transferring it from one asset to another, is that really the same as selling?

>>11063742
I am not 100% sure that is the case if you buy gold with crypto.

The gold could be seen as just another investment with unrealized gain until coverneted to fiat

>>11063772
>But if you're transferring it from one asset to another, is that really the same as selling?
With a conservative interpretation of current laws, yes, it is the same

>>11063773
I think you can make plenty of arguments in that sense, but the IRS doesn't care. They make the rules and they have the muscle to enforce it. Ultimately, that's why things like buying gold are beneficial, because it gives you greater control.

Remember, your goal isn't to read every single letter of every legal document every drafted in the history of the US and pay the maximum amount of tax you could possibly owe, it's to pay what the IRS will consider you liable for after a simple line item audit, and try to minimize that to the extent that you can.

Trying to set some kind of precedent as an individual actor with other people filing CTRs and SARs against you is a guaranteed losing strategy

>>11063772
>>11063773
>>11063792
I should note that this is what tax lawyers and accountants are supposed to do—they should help you meet your minimum legal obligation. This kind of thing is always open to interpretation and frankly negotiation regardless of whatever idiots say on the Internet. Even if you literally commit the simple crime of failing to report and get caught, chances are the IRS will just hit you with penalties and a payment plan. You only go to prison when you're doing what OP is talking about on a large scale with the express intent of not paying taxes, which is a crime.

>>11063818
All I am going to say is I think for all the bullshit everyone talks on here and the internet in general about the fuckign lengths they are going to go to to not pay taxes, if you have a million dollars in bitocoin IMO just pay the fucking 400k in taxes and walk away with 600k.

you will be better off in the long run and frankly it's easier

>>11063847

>>11063857
yeah yeah just saying

maybe if i had like 200k to tax evade with and that was all the money i had to my name i would do it and just buy grocieres with it for life, however if I had real money and wanted to buy a house and life and shit i would pay the taxes

just saying

>>11063847
Unironically this is the best advice here. I managed to lower my taxes by moving my entire life to another country and have to say it was not fucking worth it at all

>>11063888
>Unironically this is the best advice here. I managed to lower my taxes by moving my entire life to another country and have to say it was not fucking worth it at all
I know a guy who moved to fuckign costa rica to save like 300k in taxes on a net worth of about 1.5 million

not worth it at all, it has caused him so much grief and trouble, so stupid

>>11063888
>>11063900
checked

>>11063873
>>11063888
>>11063900
https://www.youtube.com/watch?v=5FSax_VvGvY&t=4s

>>11063960
RIP Terry

I hope /g/ did not hasten his death

>>11063900
>not worth it at all, it has caused him so much grief and trouble, so stupid
Mind sharing any anecdotes? What trouble has it caused him?

>>11063900
Yeah, and I was even more fucking stupid, I had a similar net worth and savings in the beginning as the guy you know, but after markets crashed my actual tax savings are only about 170k on a NW of 800k

>has caused him so much grief and trouble, so stupid
I can imagine. It was by far the most stupid thing I have done in my life, and now I have no job, cant return home and in general have zero plans for life kek

It is worth noting that while taxes might be 40% if you cannot get with a tax accountant and get creative with a large some of money. (millions)

Evading taxes is not free, and you might well lose 20% or more evading paying taxes, and wind up with money you cannot use to buy a house or car or pay for your kids college etc... so that should be taken into consideration.

>>11064000
>you might well lose 20% or more evading paying taxes, and wind up with money you cannot use to buy a house or car or pay for your kids college etc... so that should be taken into consideration.
truth

>>11063997
tell us your story, anon

>>11063990
Every single thing that can go wrong, will go wrong. Also imagine leaving your home, family and friends just because you want more money. I feel like a fucking jew

>>11064014
>having family and friends

>>11064014
>Every single thing that can go wrong, will go wrong
story time!

>>11063990
>Mind sharing any anecdotes? What trouble has it caused him?
The main thing was that he was literally ONLY moving there to not pay taxes. We already live in West Palm Beach so the climate was similar. So to see his parents he has to fly thousands of miles now. He didn't even fucking speak spanish. When he goes about his day he has do deal with poor people who don't understand him, there are not really peers of his down there (People under 35 who are not total scumbags and from the USA).

it's just a total clusterfuck, spending 5 years down there to save 300k is not worth it when it costs you your daily life and habits and all your relationships become Skype relationships.

To be fair his main thing was "Fuck the govemernt they are not getting my money" and less "this is a logical thing to do from a directly mathematical and financial point of view"

if that makes sense. Even if you don't consider yourself "rich" if you start to consider the value you place on your daily life and what it's really worth to throw that all away and move to the 3rd world you might get a bigger number than you think

>>11064048
Can't he just bankroll a Pajeet to LARP as him for a while, while he actually hangs out somewhere else?

>>11063997
>I can imagine. It was by far the most stupid thing I have done in my life, and now I have no job, cant return home and in general have zero plans for life kek
yeah that's horrible, I have seen it happen a few times. What are you going to do now?

At the time he did it i had sympathy for his position and might have done the same.

>>11063983
They actually did.
t. /g/entooman with libreboot X200

>>11064048
>>11064068
(unless he renounced his citizenship)

>>11064068
>Can't he just bankroll a Pajeet to LARP as him for a while, while he actually hangs out somewhere else?
that's not free, is very complex and not worth doing for saving like 300k

>>11063983
>>11064071
he died?!

>>11064080
yeah last month, it's confirmed :(

got hit by a train, not kidding

>>11061357

gonna have to go through a convoluted process of setting up a business, faking customer receipts, basically money laundering at that point,

if you have a good amount of money, you might be able to setup an offshore account but need more than a milly to do that

>>11064080
He got pancaked by a train in Oregon. Most likely a suicide. The video he uploaded the hour before sounded like a farewell note.

>>11064084
how did that happen?
>>11064088
jesus christ, how sad

temple OS wasn't even finished

>>11064088
>The video he uploaded the hour before sounded like a farewell note.
This one? https://www.youtube.com/watch?v=oH41gGBVpkE

>>11056279
https://www.goldmoney.com/

Its a swiss account, backed by gold and you can get a debit card.
You can use BTC and ETH to fund your account

>>11064091
the details we are not sure on and might never be sure on. lurk terry threads on /g/ to go down the rabbit hole

basically he went (even more) insane and was living out of his car and got hit by a train. Was he being reckless and it was an accident or did he do it on purpose? who can say, depends on who you ask

>>11064119
Why wasn't he living with his parents?

>>11064013
>>11064045
I can write a greentext later but in general just the exacr same situation as this >>11064048

>Fuck the govemernt they are not getting my money
Yeah I had the same attitude but at the end of the day the government does not give a fuck if you manage to avoid paying them legally while you personally ruin your life only for that small satisfaction of not paying them.

Now if you want to really be a digital nomad or whatever then you might find the whole thing worthwhile

>>11064107
Yeah, he kept talking about being impure infront of all the people in Dalles and stuff, it was really sad.

>>11064125
Because some of the faggots on /g/ convinced him to get into fights with his family, hence why I believe they are responsible in part

>>11064147
Damn, I'm out of the loop. So they kicked him out?

>>11064125
>Why wasn't he living with his parents?
got kicked out for punching his dad or something. All these details are hard to pin down

>>11064154
Yes

https://twitter.com/WildGoose1776/status/1038233770313359360

>>11064132
>at the end of the day the government does not give a fuck if you manage to avoid paying them legally while you personally ruin your life only for that small satisfaction of not paying them.
People should keep this in mind.

I could see my self doing that when I was younger but now see the error of that line of thinking.

>>11064069
I guess I just have to suck it up and live abroad a few years hoping my gf can do long distance for a while

>>11064167
He will be missed. He was very intelligent.

https://www.youtube.com/watch?v=gBE6glZNJuU

>>11064189
>He will be missed. He was very intelligent.
I always find i baffling when someone can be so intelligent in one area and so misled in other areas. As a hobbiest computer programmer and tech nerd I have some appreciation for what Terry did that most people could not have. I don't understand how someone could have the mind and the discipline to do what he did while at the same time thinking god is talking to him and that there is an alien in his pocket.

>>11064262
>i baffling
it

>>11063707
Isn't a CTR 5k now?

>>11064111
Subject to KYC AML

>>11064262
He got more right than wrong IMO, there are a lot of people here without "mental illness" who sit at home on a computer in their parents' house and never come up with their own OS or point out some inconvenient truths about CIA niggers. The interstitial ramblings weren't important and he knew that

>>11064297
>He got more right than wrong IMO, there are a lot of people here without "mental illness" who sit at home on a computer in their parents' house and never come up with their own OS or point out some inconvenient truths about CIA niggers. The interstitial ramblings weren't important and he knew that
The reason it bothers me is I go to people I find intelligent for their advice in other areas

>>11064308
perhaps he would have had some good advice

>>11057143
Excuse me but we're talking about crypto here not US currency. Some people act as if the US owns crypto. I don't even believe it's legal for them to tax us on it in the first place. Trump has lost my vote. Fuck him and his crypto tax it was part of his new tax bill.

>>11064883
Yeah, I agree with you, but the glowniggers don't. It's not up to us, the proles.

>>11057175
But why cash out at all? Crypto is cash so to speak. Just buy shit with it, that's kinda the whole point. The nite people do this the wider the adoption.

>>11064913
I trust cash more than tether personally

>>11057450
You're glowing in the dark nigger

>>11064970
be nice, he's probably an intern

>>11063194
Taxation is theft you glownigger. What don't you understand about that?

>>11065610
>Taxation is theft you glownigger. What don't you understand about that?

>>11065664
ugly

>>11065675
wat

>>11063311
Jew detected

>>11065688
>>11065610

>>11065702

>>11065726
>>11064970
>>11064977
>>11057450
>>11057309
>>11057246
>>11057199

>>11064913
maybe he wants hookers and blow in real time locally sourced
maybe he wants a wad of cash to flash to impress broads
maybe cash is still fucking king and everyone knows it

>>11065813
Boom

>>11065702
>>11065753
>>11063857
>>11063585
this kills the glownigger

>>11066825
76 posts of ignoring advice, you're stupid and should kill yourself.

>>11067405
what advice did I ignore? kek

>>11067405
>>11067526
well?

>>11056279
Moving to a resource based economy
Buy land obviously.

>>11068802
http://seekingalpha.com/article/129500-banking-on-energy-rather-than-currency-or-gold

>>11063742
Well, I did it last year and I'm not fucked yet, but I did ship the gold to a safe deposit box under an old high school friend's name and info.

>>11069493
I hope you posted this from a secure computer.