/biz/ - Business & Finance

>>21654219
This is how they try to kill crypto and why I don't trade on uniswap.

The only branch of the goverment that is actually efficient. Fuck America, 3rd world shit holes enjoy more freedom then we do.

>>21654219
etherscan

>>21654219
Every country on the planet has a simple rule and the reason for why the IRS is like it is. The rule is that every business must keep financial records. How else would you know if you made money? So as a person buying and selling stuff you are basically a business and should have records to tell your dad you are making it.

>>21654219
The irs is a scam anon

>>21654219
>>21654306
The IRS is basically a skeleton crew at this point. they can't afford to track or audit shit. Ignore them and in a few years this scam gov won't even exist anymore.

FUCK JEWS

>>21654338
yes but crypto to crypto tax doesn't make sense when you are still expected to pay taxes on cashouts.

>>21654367
Fuck them in the ass with a giant green dildo

>>21654219
My secret is to always lose money on trades

>>21654219
>nooooo you can't expect me to keep track of transactions that are permanently tracked and stored on a heckin' public ledger!!!
just make a spreadsheet you whiny retards

>>21654431
thats true. what prompted this rant, anon?

>>21654219
crypto to crypto tax is another attempt to destroy crypto and promote the ponzi fiat scheme

>>21654306
The IRS isn’t efficient at all. They still use software written in the 1960s.

>>21654219
It would take a lobby of crypto bros who have actually made it to explain that crypto shouldn't be taxed until it is converted back to cash. But it is unlikely this will be passed into law until the boomers die out.

>>21654219
>>21654360
>irs

>>21654219
i just dont pay taxes

>>21654561
because "make it" doesn't mean shit if you're always double taxed.

>>21654677
I know you're joking, but you shouldn't say that in public. You're in public right now.

So what’s the plan when we all have to cash out? Do it slowly? Move offshore? Simply wait until you can buy houses and pay bills in BTC?

>>21654219
just move to puerto rico. The irs has no jurisdiction over puerto rican residents

>>21654755
I would do it slowly. On peer to peer exchanges.

>>21654333
Ok, but how do they know the wallet you sent your coins to belongs to you, and it wasn't just a "gift" to your friend? Or that you purchased some crypto on behalf of a family member?

>>21654219
I have found koinly to be helpful but taxes suck in general. I get taxed out the ass for everything as it is.

>>21654546
Same

>>21654219
Just say you switched once. What are they going to do? Audit you?

>>21654546

>>21654712
kek

>>21654686
>>21654431
You are not double taxed. You are taxed based on the profit you made.

Example: your way
Buy $100 worth of eth
Sell for link $120
Link goes to $150
Cash in
>you had a capital gain of $50 or 150 minus 100

Example: IRS way
Buy $100 worth of eth
Sell for link $120
>IRS $20 capital gain
Link goes to $150
Cash in
>IRS $30 capital gain
>same total $50 gain

>>21654219
Lets face it bros the US is longer the land of the free. It hasn't been since 2001.

I honestly have no clue how to inform the IRS that I own crypto so I always tell them no.

I love the boomer expression "All theat's certian in life is death and taxes"

>>21654362
say more

>>21655228

>>21654768
>just move to puerto rico. The irs has no jurisdiction over puerto rican residents

How do you prove you live there?
I heard Ricans just squat in houses. As in, they don’t respect deeds and locks there.

>>21654755
trade into stable coin and withdraw small amounts weekly

>>21654306
>Fuck America, 3rd world shit holes enjoy more freedom then we do.
I live in a 3rd world country that's also a literal tax haven
99.9% of me wishes that I could move to the US for many different reasons....but that 0.1% crypto side of me is glad as fuck that I'm not over there dealing with a bunch of fucked-up tax laws in relation to my crypto activities

>>21654979
Watching 4chan learn tax code realtime is why I'm here

the only IRS I care about is the one in the phrase "Uniswap sIRS"

How would the IRS even know?

>>21654219
Use an exchange that lists your transactions. And stop trying to P&D scam coins on uniswap.

just pay whatever you cash out you fucking pussy

>>21655472
Base benchod!!!

>>21654548
I wonder how much someone would pay for something to use etherscan etc to generate tax docs for you.

It's because they hate crypto. They're, the government, they get off on breaking laws as long as it means someone gets hurt. If you hard crypto you are a criminal. You can try your best to comply but you are still a criminal because you don't know the usd value of the two assets you are trading down to the thousandth of a second and with proof of the trades. If they ever wanted to down the line your ass is gitmo'd. They just want to keep options open while making a quick buck. It's just like all the traffic laws that are impossible to follow. It's not by accident there is such a ridiculous amount of laws. 70% of laws easily have no victims too. It's purely for the joy of hurting people that they put it on the books.

>>21654260
yeah I'm not doing this shit and keeping track of it all.
trading shitcoins on chink exchanges are. already risky enough.

>>21654362
based

> Use something like cointracker.io
> API to exchange
> Data is fetched and displayed
> Give to accountant
> ????
> Profit