/biz/ - Business & Finance

>cash out

this meme needs to stop, if you're in crypto to cash out you've already lost.

>>11282245
>Chain link
>millionaire

Choose one

Multiple bank accounts in different countries
Buying stuff with crypto and selling it for FIAT
Selling on forums and imageboards for giftcards

>>11282245
Just move to an other country. I plan to move to the UAE, 0% TAX baby.

Fuck the system!

>>11282245
>be german
>hold longer than a year
>cash out tax free
I will be good.

>>11282263
Okay but i want to buy expensive cars and a house, wouldnt it be suspicious ? Fucking poorfag buying expensive shit while his bank account never went above 5k LOL.

>>11282270
UAE is not too far away from me ! Do i need a citizenship or something ?

>>11282282
Fuck, im jealous

>>11282282
doubt that's how it is.
The sum is most likely taxed as income after the one year, as opposed to being taxed as capital yields.

https://en.wikipedia.org/wiki/Taxation_in_Germany#Types_of_income

>>11282260
yeah what an idiot, title should've been
>Chainlink Billionaires
sharp anon, very sharp.

>>11282368
You just open a company in a free zone (Almost no costs, don't need a physical location and 0% tax). You can then apply for a three year visa as long you want. If you live 30 years or more in UAE you can attain citizenship, granted you're a muslim.

I recommend the emirate of Ajman or Sharjah, way cheaper than dubai and only like 20 minutes from dubai XD.

https://ajman.dubizzle.com/property-for-sale/residential/villahouse/2018/8/12/2floor-villa-for-sale-in-ajman-with-modern-14/?tracking_info={%22userPath%22%3A%22LPV_Pos_NR_11%22}&funnel_subsection=LPV_Pos_NR_11

Above an example of an villia in Ajman, the cost is around $470000.

Peanuts if you consider some of the ridiciluous prizes here in europe or in US.

>>11282368
>I want to be a Nigger
okay, than simply emigrate to a country with no crypto tax, cash out, have a year long holiday and return to your home country.

>>11282245
Nice problem to have, I'll worry about it when/if it happens. In the UK there is a loophole where any money from crypto can be declared winnings from gambling and tax exempt. Failing that, offshore company. Failing that... classic cars are exempt from Capital Gains Tax so I might buy and flip the odd Ferrari abroad to rinse the money.

don't worry pal cos it ain't gonna happen with link.
t.smart anon.

>>11282445
With electricity AND water?? holy...

dont worry, you're not going to have that problem if you keep buying middleman tokens like chainlink

>>11282445
Okay, but is it possible to live in my old country and cash out on my company in a free zone ? Or do i need to live there ? sorry im a brainlet

>>11282465
Okay but what if i have invested while living in my old country ? I doubt its that easy lol... move to another country and cash out there and then move back

>>11282245
??? jesus fuck just pay the tax. it's not that big of a deal.

>>11282245
Be smart, dont cash out above the threshold dumb shit.

>>11282961
It is that easy
All you need to open a bank account in most countries is a document of identification and a proof of residence. Second can also be bought from gypsies. Just don't be a Nigger

>>11282985
Found the cuck

>>11282985
40% of 1,000,000 is 400k. How is that not a big deal?

>>11282368
>i want to buy expensive cars and a house
That's where you usually get problems with the government - they don't want you to have these things without paying taxes on the income that enabled you to buy them.
The only possible way is to buy them in a country where there's to income tax for a company and owning cars and real estate as a company is in a gray area (like Estonia for example)

I want to pay my tax like an upstanding citizen and contribute to the infrastructure of my country and the welfare of its people

>>11282937
no electricty and water are always monthly expenses, but those are not much.

>>11282961
Hmmm, sort of. You can only take 10 k in a plane. If you would want to take bigger amounts you would need to use the old scam that every rich person uses. Don't know all the details, but it basically is sending invoices from your company in the tax free zone, to basically white wash your money.

>>11282245
i hold my linkies sinces december and when i hold em 1 Year the stinkies are Tax Free

>t.Krautnigger

>>11283320
But only if there was no movement on that wallet for a year otherwise you are fucked my fellow kanake

>>11282383
That’s exactly how it is. If I sell before the year is over, I have a tax exempt amount of €600, the rest will be taxed according to my income tax rate. If I sell after a year, it is indeed tax free. That’s because earnings from Crypto don’t count as investment earnings. If they would, I would get taxed 25% capital gains tax.

>muh taxes!

I have an acquaintance who sat there and complained he'd have to pay tax on several million dollars of Bitcoin if he cashed out back in December. Now he's super upset he didn't.

If you are in America, lying on your taxes can get you sent to PRISON. Looking over your shoulder for the next couple of decades so you save some shekels is fucking stupid. I guess you have to buy the Ferrari instead of the Chiron though...

Singapore

>>11283412
And the best part...you don't even need to show Proof that you have hodled 1y, until someone asks questions of course. Pretty convinient. ;)

>>11283444
For decades? How fucked is your legal system? But then again...people are accusing each other of rapes from 36y ago. ;)

>>11283376
fine

>>11283491
The IRS has almost unlimited power and once they want to fuck your life up you have to pay them whatever the decide you owe or you go to jail. Most burgers have been conditioned to view this system as not only acceptable, but necessary.

Who in their right mind would vote to pay income taxes? I could understand if we had decent socail service but the money just goes into rich people's pockets. I'm hoping BTC can break the entire federal government. Anything less will be a failure.

Malta

>>11282252
no you're the meme
I need the codes to Zion...I hate this place...it's the smell

>>11282245

Pay taxes then move on with your life.

If you want to enjoy the "freedom" and benefits of a first world country. You're going to have to pay taxes. And yes 40% is OUTRAGEOUS. However consider this.

While not the most capitalist friendly post. I think we should pay taxes. It's not about how you've earned it by your own self. The structure and your ability to move up and down in wealth is supported by your country. And your achievement, you say you learned it by yourself, but if you went to public school, you learned how to be a functional member of society and were given tools to go beyond that. Public school is a priceless gift to me. And I want to pay that back. In a purely capitalist/libertarian society. I don't believe rich people would care about education. Or would they? Anyway, while I wasn't the best student. I learned to read, write, speak, use basic math and take notes. With this I have the tools to go in any direction I want in a first world country. Forget about the wasteful spending the government does. Just pay your taxes and donate to the charity or faith you believe in.

>>11284196
I agree

>>11284196
I completly agree with you fren, but the problem is not that i want every penny, i have no problem paying taxes in the real first world country knowing at least 50% of that tax will be spent wisely, but im form UKRAINE man.... You really dont want to spend a single cent on tax there, i would gladly pay 400k in taxes knowing that they will be used for schools,health center, infrastructures etc...
300k out of that 400k will be stolen by our fucking politics and 100k will be used to promote themself before elections... Thats how it is...

I will probably pay and be grateful i can leave that piece of shit, but i wont stop thinking about that waste of money, i would gladly donate 50% to any charity than 40% on tax.

I bet you can understand me :)

>>11285281
And to add, my ability to move up and down in weath was not completly supported by my country, it was supported by my parents saving a lot of money for them and sending me to study abroad, otherwise i would be wagecucking for 400 dollars per month. (Not saying im not wagecucking now, but at least i have above-average wage)

Move to Portugal or Holland for a year and pay 0-1.5% tax, get it into the banking system legitimately and then go from there.