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/biz/ - Business & Finance

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File: 30 KB, 500x460, 1587048292532.jpg [View same] [iqdb] [saucenao] [google]
24192516 No.24192516 [Reply] [Original]

I don't understand how you can make a profit margin on these things by buying and selling. Don't taxes just completely rape you at the end?

>> No.24192583

>>24192516
You’ll lose 30-40% of your gross profit to taxes as a rule of thumb. Log all your losses though

>> No.24192635

>>24192516
Don't do the government's work for them, anon.

>> No.24192724

>>24192516
you will also be labelled as a day trader and subject do different rules and taxes

>> No.24192730

>>24192583
Fuck that lol

>> No.24193657

taxes? I BARELY KNEW HER

>> No.24193822
File: 41 KB, 442x608, 20201123_084137.jpg [View same] [iqdb] [saucenao] [google]
24193822

>>24192516

>he actually pays taxes

NGMI

>> No.24194106

>>24192516
>Don't taxes just completely rape you at the end?
They rape everyone, their only known limit to date is sovietism. Taxes suck the blood of life.

>> No.24195049

If you have 100 dollars and make 30 winning trades with 0.5% profit, then pay the exchange fees 0.32% per trade, then pay 40% tax, you've made $3.64 cents. You can barely buy Mcdonalds, but you won't be able to afford to get there. Enjoy.

>> No.24195249

>>24195049
Then after all your pathetic gains, a statistical improbability, lets say you shorted BTC and got liquidated. As far as I know, the IRS will still think you owe them, unless you happened to file taxes in Nevada and paid for a business liscense, cause if you didn't you're money laundering too.

>> No.24195332

>>24195249
and then if you happen to make it, there are boomers out there, that work in finance, that think you're a terrorist. they'll freeze your bank. they'll ask for all kinds of extra ID information on you. its messed up.

>> No.24195394

>>24193822
someone explain pic related

>> No.24195403

>>24192516
>In the land of the free you have to pay tax on every crypto currency trade you make
america makes me wonder sometmes....

>> No.24195415

But what you need to know is the govt has no right to tax cryptocurrency, because cryptography has already been judged as free speech. its not supposed to be regulated. the jews just want to steal from you.

>> No.24195533

>>24195332
True. My bank froze my account and made me fill out an AML form in person at a bank branch because I had a Coinbase transaction. The guy looked at me like I was a criminal the whole time. I told them Coinbase is in San Francisco and he literally wrote down "Switzerland" before I corrected him. Boomers are scum.

>> No.24195565

>>24195394
Its some fake sign made for a subreddit, reverse image search it

>> No.24195923

>>24192516

You only pay taxes on gains