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/biz/ - Business & Finance

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12444196 No.12444196 [Reply] [Original]

Let's say your portfolio goes up to $10,000,000.

What is the safest and most efficient way to cash out?

Market dump into btc/eth, move it to Coinbase and cash into fiat?

>> No.12444210

That small of an amount of money is not worth a life of fear and paranoia.

>> No.12444211

yes if you want to pay (((tax)))

>> No.12444221

>>12444196
Honestly if you make it just pay your taxes. Cash out through Goybase or (((Gemini))) and eat the tax loss.

>> No.12444241

>>12444196
Gold account. It's still an investment. And if you can live off of a small amount for a while, you can keep a good portion of it.

>> No.12444250

>>12444221
>letting the government fuck you in the ass

>> No.12444267
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12444267

>>12444196
>He doesn't know laughinggirls.jpg
You can't cashout, I'm sorry

>> No.12444269

>>12444196
Open up an offshore shell Corp and pay yourself dividends as needed

>> No.12444283

>>12444210
What are on about? If he does that he's obviously planning to pay the govt it's protection racket tax. What's this "fear" and "paranoia" stuff?

>> No.12444289

>>12444196
take out 34,000 a year max since it is taxed at 0% under the new tax laws of 2019

>> No.12444297

>>12444250
>I'd rather be dead than just pay the mugger

Don't be retarded.

>> No.12444304

Guys I'm not talking about tax evasion.

Just want to know the easiest/quickest way to cash into fiat.

>> No.12444307

>>12444250
>implying they won’t fuck you ten times harder for tax evasion

>> No.12444333

>>12444304
Most exchanges have a withdrawl limit unless you contact them ahead of time and they are aware of your net worth. Best to start building a relationship with whatever exchange you plan on cashing out any considerable amount.

If you are actually trying to cash out go open a bank account with a larger bank that deals with high net worth individuals regularly and explain your sittuation to the bank manager to ensure your funds don't get frozne by the bank when you wire them in.

Talk to accountant to pay estimated income tax immediately and then do whatever the fuck you want with the rest.

>> No.12444397

>>12444196
OTC bittrex. You cant market dump 10M.

>> No.12444427
File: 163 KB, 535x449, h9olugo9.png [View same] [iqdb] [saucenao] [google]
12444427

>>12444196
>start trading using robinhood
>forget about it for 2 years
>come back later and it says stuff about my tax returns
>start freaking out because of the IRS
>mfw it's okay because I never cashed out and all I did was papertrade

>> No.12444464

>>12444333
This guy fucks

>> No.12444606

>>12444289
post sauce, thanks.

>> No.12444728

>>12444250
They can technically just put you in prison indefinitely if you claim you lost your private key and can't pay.
>Land of the free
>Innocent until proven guilty

>> No.12444754

>>12444333
Nice! based fren

>> No.12444764

>>12444333
CHECKED and BASED my guy

>> No.12444781

>>12444289
Which country? It just matters for crypto gains right?