/biz/ - Business & Finance

I'll rather claim haircombs than some stupid returns

>>16746418
>tax avoiders IQ

you literally get all your money back the year after you cash out you dumbass.

tax avoiding is for the billionaires who literally can't get caught.

>>16746409
point taken, but giving an interest free loan for a year isn't the same as not paying anything

>>16746441
it's pretty damn close. Imagine if they took 15-20% of your money and you lost that money forever.

>>16746409
>you get to claim that the following year and get most of it back in tax returns.

Claim it as what?

>>16746457

>>16746409
make me dipshit

>>16746409
You get to claim taxes you paid, on your tax return? That can't be true

>>16746476
Oh, I won't.

But they will.

>>16746409
You lose value due to inflation. I'd rather get a return, not a loss.

>>16746486
Any taxes you ever pay on anything pretty much can gives you a tax return. That's why when you buy big things you should always keep your receipts to write it off on your taxes.

>>16746493
you won't do shit nigga

>>16746495
You don't really have a choice. Being rich and stress free is wayyy better than being rich and being constantly paranoid. I'd rather be poor and stress free than rich and paranoid.

>>16746452
imagine if you took that money and invested it in something that did pay interest though. Or if you just had it when an emergency came up in the year and you didn't have to liquidate something else.

>>16746436
>you literally get all your money back the year after you cash out you dumbass.
pretty obvious that you dont understand how taxes work

>>16746508
Are you illiterate? That's what I said, ** I ** won't do shit. but **THEY** will. They're building the most sophisticated tracking system you could ever imagine. Running from it is suicide. They will make an example out of you.

>>16746513
Explain it for us then. We're eagerly waiting.

>>16746518
you are sooo sophisticated you need to larp here

>>16746508
They will take your balls anon they will rip em off and take your little nutsack, along with every last drop of cum. Trust me they will take what they can get and sell your testicles to the 1% as cream for the skin. Your nutsack would make great creme anon I am 100% sure.

>>16746532
Ok now i'm convinced you are actually illiterate I don't even know what you're trying to say. The average intelligence here seems to be dwindling, or maybe you're just an outlier.

>>16746533
does not matter what you do
you get none of my gains ever

>>16746503
Including VAT or sales tax? Do you have any streamlined tax explanations for a brainlet about to graduate and get babby's first job?

>>16746526
you dont get the money back. not much to explain.

made 6 figures since 2016 and haven't paid a dime. come at me

>>16746533
Nice id

>>16746409
How detailed do you think I have to be? Think I can just say I bought 10k worth of ETH and cashed out 12k?

Might just wing it this year hehe

If you know something is going down but then up you can do well. I sold link at $3 and rebought at two. No capital gains and actually bought extra with my capital losses tax return. When it hits three bucks again I'll be sitting pretty damn comfii. Also it goes by the year. So say something went down in the year it counts as a loss even if you're up a bit. Like you bought peepee for $1 and it's now $2 but it started the year at $1.5. That basically a free 50 cents plus an untaxed 50 cents, and since you made paper losses of $1.5 you can put that as capital losses when you buy it with capital gains. Having a good accountant can help you find and rebalance into your underperforming assets. Been doing it for years.

>>16746503
What the hell are you talking about? Tax returns are taxes paid in excess of what was owed.

If you are in a lower income bracket, then your capital gains tax will be a lower percentage.

>>16746820
>I sold link at $3 and rebought at two. No capital gains

what in the fuck are you talking about

>>16746409
>When you pay your 15-20% in taxes, you get to claim that the following year and get most of it back in tax returns. So all you're doing is giving the gov a 1 year interest free loan and then getting your money back so really you aren't paying anything at all.
so I have to wait a year to get MY money back.
Not only that, but it's a FREE loan and I get 0 profit from it. Fuck this mafia bullshit.

>>16746952

wait, I guess the implication here is that you bought for more than $3?

LOOK AT THIS DOOD

>>16746512
this. Capital gains tax is robbing you of opportunity. Opportunity cost. Fucking faggots only take and I get 0 benefit from taxes besides some fucking roads on the street. Whoopdie doo.

>>16746493
i have not payed capital gains tax on anything ever
and i have been cashing out at least 8-12k every year since 2017. this year i cashed out 15k thanks to link. and guess what i aint paying shit

BUT i am a neet tho.

>>16746970
And that's assuming those taxes are even used for said thing which now that I think about it, idk how taxes are used.
Maybe all taxes go to one big pool or different taxes are used for different things.

We should be ENTITLED to seeing HOW out specific taxes are used.
>inb4 taxes used to buy some boomer politician's 50th mansion

>>16746989
>idk how taxes are used.
They're used to bomb brown people in overseas countries to uphold the based and beloved and totally legitimate state of Israel and brother I wouldn't have it any other way #MAGA

>you get a claim for it the following year

How does this work? I use turbo taxes and this is the first year I'll have to pay capital gains. What form will I have to fill out to insure I get the rest of my money in 2021?

>>16746995
Yay for wasting money! I love being retarded too
Seriously though, they need to be more fucking transparent with this shit

>>16747022
you automatically get a check a year after paying capital gains

>>16747029
Wasting money? Hey buddy, cool it with the antisemitism.

>>16747052
kek

>>16746970
stunning to see bizlets with "muh tax return is smaller this year WTF" mentality...

I paid 40k in taxes last year. How do I get money back?

>>16747070
I think everyone should have to pay 5 figures worth of taxes at least once, it lets you know how you're being fucked

I have to say one of the most genius schemes ever devised was automatically pulling taxes from people's checks and giving them an EPIC REFUND at tax time, so not only do they not see how they're being fucked they also associate "taxes = BIG CHECK FOR ME", so they then proceed to vote for tax increases because they're retarded and asleep

Well played, Jews.

Seriously imagine what would happen if tax time came around and suddenly everyone in the US (a majority of whom have 0 savings because they're absolutely worthless and stupid) suddenly have even a four figure tax bill?

>>16746409
Are all of you itt in on this larp thread or are americans really this stupid?
of course you don't get it back, unless you pay more than what is owed

>>16746508
based

>itt taxglow niggers

>>16747089
Are you aware of how convoluted and retarded our tax code is? It honestly wouldn't surprise me if you could use CGT paid in the previous year as some kind of business write off. If for no other reason than it would greatly benefit the elites.

>>16747055
Im not even a republican, dumbfuck. Its just stupid how taxes dont do shit to improve MY life and also how there is a lack of transparency

>>16746409
What
>>16746436
The
>>16746452
Fuck
>>16746503
Are you talking about

What the fuck are you talking about?

Seriously, other anons are clearly curious too and I’m taking the bait straight up. Explain what you mean. Answer the question

What the fuck are you talking about. What’s your proposed loophole to “getting back” what you paid in capital gains a year later? Selling only a portion and then claiming capital loss the following year if your investment goes down? Until you explain what the fuck you mean, this is hereby a larp thread and you are just a glownigger shill.

>>16747731
Fucking thank you, this OP is annoying as fuck

>>16746493
just call up jerome powell to print you the stupid fucking tax deficit from retards like us you stupid fucking 3 letter mong
taxes are just a means to control the goyim.
the central bank can just print it all and give themselves bonuses and buy assets from the goyim. LEAVE US THE FUCK ALONE YOU FUCKING YIDDISH PSYCHOPATHS

>>16746409
>Do you really want to cash out a lot of money one day and be paranoid about going to jail for 20 years all because you didn't want to give out a 1 year loan?

spotted the snitch

>>16746409
but why do that when i can donate it to a charity i created in switzerland, give all the money to it as a tax-free donation, then get the charity to loan me the money because i'm poor?

>>16746989
60% goes to welfare programs. this is why UBI is a good idea. we can finally benefit from it instead of just paying for poor retards to live.