/biz/ - Business & Finance

hold longer than a year and i believe capital gains tax drops to 10-15%

>>OP
move to a country with no crypto tax

>>13600478

This

Simple. Don't pay them. Get fiat.

BTC 100K q4 2019

>>13600478
Is there a way you could cash out in that country, wait a period of time, then move back to your original country without paying the higher tax?

>>13600530
you're gonna be pink like your ID when they start knocking

>>13600478
Do I have to officially move there? Can I, say, move there for a couple months, get my money, then come home?

>>13600554
We're thinkin alike, fren

>>13600578
meant to reply to >>13600545

>>13600545
If you have US cititzenship it's complicated because the US still taxes its citizens when they have a foreign residence. This can only be avoided by paying the equivalent tax in that residence and claiming that on your US tax return (which you're required to file as long as you're a US citizen).

Otherwise you generally need to live in a place for >185 days to make them your tax residence, then their tax laws applies to everything you do. Afterwards you can take your taxfree money elsewhere, unless there are export controls on it.

>>OP
just claim your an illegal immigrant, they don't pay taxes and the IRS never goes after them

>>OP
move to montana they have no cryptotax

>>13600560
youll get taxed coming back to the us dummy, the guberment isnt that dumb lol

>>OP
Long-term cap gains are dramatically smaller, selling stack over a few years mitigates taxes
Claim losses to offset

or play a shadier game.

>>13600554
Actually my ID is purple which is like wealthy and royalty. Pink is for pussy and there ain't no pussy around here.

>>13600695
>there is literally 0 chance of irs or any tax entity from any cunt to find it about your crypto.
>what is a public ledger

>>13600919
Hahahahahah what is $XMR

I've been curious about crypto trading being a taxable event. If I use binance and dont go through kyc then the only thing that would be traceable would be fiat to bitcoin transfers right?
P.s. I'm not advocating tax evasion lol

sell privatly, i have friends who want to get in to bitcoin, when shit starts getting hyped it will be easy af to sell.
or move, if you made enough germany is a good choose with 0% taxes on btc. ofc it got to be worth it

>>OP
tumble your btc to xmr and eth in minecraft
buy gold and guns with that btc and xmr in minecraft
buy drugs with mxr and resell it, in minecraft, to kids at parties in minecraft
sell gold and guns in person in a different state, in minecraft for minecraft cash
enjoy paranoia of holding cash in a safe, in minecraft

>>13601118
>minecraft black market
We are the new global elite

>>13601057
the main problem is going back to fiat, where you suddenly have no way to explain where you got this money and get a money laundering charge, so your plan is fine if you want to stay in crypto forever, or only cash out a few hundred per month at most

>>13601208
Yeah you could withdrawal an amount equivalent to how much you would have gained if you stayed in Bitcoin

>>OP
paying tax for cryptos. lol

>paying taxes in the kikes' clown world
>funding white genocide
>paying shitskins to live free in your lands and rape your women
>funding wars for israel

the point of crypto is to avoid this cuckoldry

>cashing out and to fiat which willcollapse when BTC hits $1M
never gonna make it

>>OP
Your entire portfolio -> Monero -> Bitcoin -> withdraw from Bitcoin ATM while wearing a mask, leave your phone at home(GPS)
Congrats, you beat the tax man and there is no way for them to find you. If the IRS asks just say you got hacked and lost it all.

>>13601208
Using the method I mentioned here
>>13601806
You could just make all your everyday purchases in cash, until your shit is drained. If you have a source of income like a job it just goes 100% into savings. Obviously this wont work for shit over a certain dollar amount, but if you are making millions that capital gains tax shouldnt bother you too much.

>>13601806
is there any way to just buy the everyday stuff you need (food, stuff from amazon, gas, household items, etc) with btc directly and then just put like 90% of your money from your job into savings?

>>13601984
Google tenx. Its a crypto visa/mastercard. You can shop like with a regular creditcard but you pay with crypto. The company interchanges your crypto the moment you buy for usd/eur at marketprice + a small fee. You should definitly get one.

>>13602040
Couldn't they report your spending to the IRS?

>>13602075
Yes. Which is why
>>13601806
Is the only way to do it and avoid taxes 100%.

>>13600431
doesn't that mean no altcoins unless it is one the big ones that have fiat pairs?

>>13601806
The tax man is still going to ask you where all your new found money came from. Unless you plan on spending nothing but cash for the rest of your life in which case good luck buying a house or a car.

>>13603032
My suggestion is to buy everything with cash that you can. If you have another source of income it all goes to savings and launders your shit for you. And you could easily buy a car with cash. A house? Probably not.

>>13600545
Depends entirely on your home country. In UK you have to be absent 5 years

Canary islands

>>13602735
ive had cardano for almost 2 years does this apply to me?

>>OP
>12k in profit for 2017
>11k owed in taxes

>>13603226
You poor son of a bitch. Imagine falling for the "scientific blockchain" meme.

Suggesting the Canary Islands is fucking autism.

IF you want to launder correctly, have it run multi-staged;
(1) BVI / Cayman SPV (depending on whether UKOT serves you or you're preferring the US tax proximity)
(2.1) Run it through HK SPV
(2.2) Run it through UAE SPV
(3.1) If you're using the Swiss route: either Saudi country or some shithole eastern EU (i.e. Cyprus, Albania - both work well)
(3.2) If you're using a more "international" route: LLP in UK e.g.; just use offshore SPVs as limited partners and you're basically set
(4) Bring it to wherever you finally need it and deduct a tone of "consulting fees" and other crap, all counter-signed for by the respective SPVs
(5) Don't be retarded and you'll have a legitimate anti-tax structure

>>OP
Just fucking sell and buy back in so they have to give YOU 33% of your loss.

>>13602040
Lol what if they ask to see the transaction, cause you know its all public info, im sure theyll ask you why you went into xmr before you got "hacked" lmfao

>>13600431
No, long term capital gains plus state tax and federal taxes brings taxes up to 33% in california. Chart very related for top bracket long term capital gains tax rates you will have to fork over a quarter to a third of your long term held crypto gains depending on which state you live in.

>>13601118
i've always gotten fucked over trying to buy anything from dep weeb

are there any good sites that aren't scams/tarps?

>>13603924
Pro tip: don’t live in California

>>13600478
This doesn't work for americans unless you renounce American citizenship because america requires you to pay taxes on any foreign earned income. That's in addition to the foreign counries taxes you already have to pay.

>>13601806
This won't work because crypto to crypto trades are now taxable in America. You can claim you lost your money but the act of trading it to monero is a taxable event. If you tell the irs that you lost your gains they will put you in debt anyway.

>>13601806
>>13604137
The only way this could work is if you meet people in person wearing a mask and maybe a voice changer and anonymously trade your crypto for another asset. Doesn't have to be monero.

>>13604137
Retard, how are they supposed to know it was you who traded it if you got hacked? If someone legitimately stole your private key the first thing they would do if they were smart is send it through Monero.

>>13604232
You have to use an exchange to trade your crypto to monero. That exchange will need your id and personal info. If the IRS communicates with the exchange to see who bought the monero you're screwed.

>>13604230
You have no idea why I chose Monero do you? You think I just picked Monero because I like the name? Stay taxed.

>>13604263
Only the transfering of monero between addresses is anonymous. The exchange can track a btc to Monero trade though.

>>13604262
There are so many exchanges with no KYC. Basically any DEX will work.

>>13604287
And? How are you not getting this? I couldnt make it any clearer.

>>13604295
What dex allows you to trade chainlink for monero directly?

>>13604306
To make an account on non kyc exchanges you have to provide personal details still. Are you suggesting i lie about my identity? That's also a punishable offense.

>>13604307
Who said anything about ChainLink?
>>13604331
Im not suggesting you do anything. Breaking the law is bad anon.

>>OP
I think UK is something between 12% and 22%

>>13604307
how much of a noob are you lmfao

>>13600865
Is this true?

>>OP
>>13600530
>>13600545
>>13600560
>>13600578
>>13600695
>>13600830
>>13600865
>>13601057
>>13601095
>>13601118
>>13600985
>>13601575
>>13601806
>>13601855
>>13601984
>>13602040
>>13602676
>>13603089
>>13603202
>>13603784
>>13604263
>>13604295
((You)) in the future

>>13604375
Whatever crypto you do hold you would need to trade it to monero directly without going through bitcoin or ethereum first. How do you do it with chainlink for example? You can't.

>>OP
Long term capital gains rate starts at zero if you withdraw less than $39,375
If you can find a wife that jumps to $78,750
(Remember to sign that prenuptial)

So stop day-trading like a retard and hodl

I don't understand why you can't just buy stuff with crypto directly. For example, if I have a few btc and I use it to buy a car on craigslist, without moving into fiat, why would I have to pay capital gains tax? Am I missing something?

>>13604942
A prenuptual only protects assets held when the prenup was signed before marriage. It won't protect money or appreciated assets during the marriage.