/biz/ - Business & Finance

>>23279832
You actually have.

>>23279846
Glorious. Why doesn't every body do this? Are they just all retarded?

>>23279872
Everybody under 40K does this already

>>23279892
I take it back, since we're talking about LINK, and only fucking retards sell LINK

Then why does everybody bitch about taxes so much? 40k a year is close to the median wage. If you count the fact that you get to keep it all it essentially is the median wage. Why aren't people singing this shit from the mountain top. You can basically live in America and pay no income tax on a decent income. Is anywhere else like this?

>>23279936
Most people have to pay rent. I make a shitton of money with bizarre side hustles. I have a few gays I met who sniff my feet for 100-300 cash a pop. I just go in and they sniff my feet. Whatever. I don't even care.

>>23279936
Most people aren't holding long enough to qualify for long-term capital gain taxes.

>>23279872
99% of people are too stupid to actually know what taxes do and how they work thanks to countless years of propaganda. Just look how pissed retards got that Trump didn't pay taxes (even though everyone who cried lies on their taxes, claims extra deductions, etc...)

Bonus mode, try to find the way you can still pay 0 taxes and make billions (hint, real estate is one of the easiest)


Also get a Jewish accountant. Jews are great at taxes. Just make sure you have a second accountant to check everything because Jews are liars and can't be trusted

>>23279936
LT capital gains tax isn't the same as income taxes or payroll taxes or ST capital gains tax. People who wage for a living have to pay a fuckton of taxes to the system and get a little refunded.

You're in a special category because the system isn't built for internet money and people who hodl indefinitely long to get the most out of it, no one ever expected LINK.

>>23279832
Keep in mind it would include income from your job. However, if you have no other income, you're correct that you could just sell under the threshold to not pay any taxes.

>>23279832
Not gay question: does this apply to raw income or does only capital gain income count to the 40k

>>23279959
>I have a few gays I met who sniff my feet for 100-300 cash a pop
Based side hustle but I uh probably wouldn't report that. Don't wanna have to explain it in an audit
>>23279964
>Most people aren't holding long enough to qualify for long-term capital gain taxes.
All they had to do was buy the March dip. That easy not even counting my LINK and BTC. I'm going to just let this grow and like I said, sell $40k a year and live ultra comfy and tax free. Life on easy mode.
>>23279999
>However, if you have no other income, you're correct that you could just sell under the threshold to not pay any taxes
Based. I'm confirmed NEET who got lucky with internet money and random stock picks

>>23280019
Only capital gains. Like if you buy some stock or crypto for like $1000 and it moons hard so you hold it. After a year you can cash out $40,000 tax free. Then you can do that every year or maybe 366 days I'm not exactly sure

>>23280041
It works on Calendar year (tax year). You could do 40k Dec 31, 2020 and not have any other income and pay no taxes, and sell another 40k Jan 1, 2021 and not have any income for the rest of 2021 and pay no taxes for that year.

>>23280089
Based. Good point. This has been a very informative thread frens. I hope you all make it

>>23279872
>Why doesn't every body do this?
most people probably want more than 40k per year

>>23280139
I can't even imagine what I'll do with that much. I just want to fuck off and play video games and shit. I already upgraded all my shit and I already own the condo I live in and car is paid off so I can't even think of anything else to buy. Probably hookers

>>23279959
>I have a few gays I met who sniff my feet for 100-300 cash a pop.
god please live in toronto

My capital gains for the year will be about 10k from defi shitcoins. I also have a job that will pay me a total of about 45k this year. I will be above that bracket for capital gains IF I cash out. This is much more common than 100% capital gains.

explain me captain kike tax in australia pls

>>23280220
That makes sense. I guess it's why people don't just talk about capital gains in isolation much. I guess I should be grateful sounds like a nice problem to have

>>23280242
>explain me captain kike tax in australia pls
I'd be very interested to know what the situation is in the other 5 eyes countries. I know Canada has some special tax free trading account which I am jealous of. Not sure about the rest

>>23280245
Yeah that's why I'm not cashing out. Just sitting on them stable coins. I'll do it when either my income goes up or down. I already pay enough taxes, kek

>>23279872
> "Why doesn't every body do this?"
> Your Income: $0-$40,000
Sorry, I'm not poor.

>>23280522
The 40k is just what you cash out every year. You can still be compounding massive wealth by holding your LINK, BTC, TQQQ, what have you

>>23280522
you will be once we, the people, elect joe biden, and he raises taxes on your rich ass. time to pay your fair share.

>>23279936
Because having an investment 100x and be something you could live off isn't particular normal

>>23280586

>>23279832

If you make 30K annual salary from working than than only 10K of your long term capital gains rate is taxed at 0. It takes in account all your income first. If you don't have a job then yes its legit as fuck. I'll be able to live off of Uniswap and various stablecoin liquidity pools with like 400K bank taxed a 0% rate. They can net 12-22% APR in some cases. I might have to hold the asset for 1 year outside of the LP not sure. Either way I should be able to get nearly 0%. Its tempting to just put the profits in CRO or something similar as well. Lots of options in the future. Even crypto backed USD loans which would be tax free since they are interest bearing. If you are married its nearly 80K as well.

>>23280195
I'm a gay and i live in north york want to meet up

>>23280195
oh look you got a new customer

>>23279936
I sure as fuck can't live off of $40k here. I make more than that wagecucking and I live with my mom

how would you eve!n report this? or would you just withdraw 40k a year and wait for the irs to audit you and then prove to them that it's capital gains?

>>23280922
There's a tax form for it. 8949 or some shit. Schedule D or whatever it's there.

>>23279959
fucking kek

>>23279832
>Burger tax question. Does pic related mean that if I only sell $39,999 worth of my LINK stack every 366 days I pay no taxes whatsoever? I live in FL so no state income taxes. Is it really possible to live completely tax free and comfy? I though the only certainty was death and taxes.. have I found the cheat code?
even better you can be a bit above that because of the standard deduction; assuming paid off house and low property taxes; you can live without federal taxes

>>23279832
Assuming you have no other income.

>>23279959
They eventually will murder you and rape your corpse.

>>23279959
i once chickened out of a $150 gig to piss on a gay who larped as a woman looking for golden showers on w4m. one of my greatest regrets to this day, i'm envious of your commitment to earn cash anon.

>>23279832
is that the same threshold for income? fuck that's generous, no wonder USA is broke. In Australia its like under 13k usd doesnt pay any tax.

>>23279959
Ill let you sniff my feet for $50, if anyone wants a good deal.

>>23279936
Yes but if it is going to go higher in the next year then selling 40k means you miss out on potentually 400k or more if link does a 10x after you sell.

>>23281379
No, I'm straight. I just make the "faggots" worship my feet. Not even homophobic. I just like money.

>>23279936
The compounding effect of taxes over a lifetime is insane. Poorfags would not understand

>>23279832
This would work. Keep in mind that for 40,000 to 80,000 or whatever the next tier up you're only charged 20 percent I think it is, but only on 40,000 out of the 80,000 total
(40,000 + 40,000) - (.2 * 40,000) = 72,000 a year

>>23279959

>>23279911
What's the point then? It's not a ticket to heaven anon.

Just use 0xMonero and flame.exchange, no KYC

>>23282253
0xmonero is trash promoted by serial plagiarists.
https://www.reddit.com/r/CryptoMoonShots/comments/i27fhk/0xmonero_summary_of_findings/

>>23279832
Dude, GOOD JOB. How much profit have you taken so far? Did you look at Ecochain + EFG?

>>23281315
Once had a man asked me to let him fuck me in the ass for $500 and had multiple paid offers for guys to blow me
Craigslist was good times wish they’d bring it back

I've been telling /biz/ this news for literally the past 6 months.

>be NEET
>run cash business
>make less than 40k/year on paper
>never pay taxes on crypto

IT LITERALLY IS THAT SIMPLE KEK