/biz/ - Business & Finance

anon pls

>>24564282
Not sure there is anything they can do for you except stopping you being audited and/or paying too much. Tax minimisation is a thing.
I don’t even know how futures trading works. When you open a position are you buying stock or loaning it? Obv I make a profit if I get money but what happens if I’m liquidated and loose more than I sell? How the fuck does that work?

>>24564282
God, someone help me too please!

I've been in Crypto since 2015. Went from a couple Bitcoin to all in Link late 2017. I've got 50k Link now and through all of this I've declared and paid exactly zero Crypto taxes.

I don't know how the fuck to make it right or what the fuck to do and I'm a fucking Accountant. This shit is a joke. The only legit crypto tax help places I can find want about $2k minimum to start to figure out how to untangle this mess for me. What the fuck frens, that's over 150 Link. What am I supposed to do, file an amended return for every one of the past 5 years? I have no fucking clue and I'm getting scared because I've got a lot of money now.

Not a larp, someone please save me.

>>24565606
Accumulate enough value to retire then flee to some third world country

>paying taxes

>>24565635
That's a nice idea, but everyone knows the Democratic Globohomo Zogbots will hunt me down and never let me live in peace...

>>24565606
>about $2k minimum
not that much. just pay or move and don't pay

>>24565606
why dont you just use turbotax

>>24565669
Not really, bro. It's too much work for them, and even if you have a few million you're still too much of a small fry to bother with if you never return to your home country.

>>24565685
>not that much
Dude, post a Link. Here is a typical fee of $750 for just doing Crypto Taxes for one normal year. NOT going back 5 years and untangling a mess of no reporting/paying of taxes. https://www.genesistaxconsultants.com/cost-of-crypto-tax-preparation

>>24565731
Ha.. no. Turbotax can't fucking help me go back 5 years and amend every year and fix the thousands of shitcoin transactions I made before ending up with around 50k Link. Also, I still make several shitcoin trades with a small % of my crypto stack... I need a professional to have one on one time with me or some super smart anon to come on here and tell me it's going to be ok and give me a link to someone who can help me and won't charge an arm and a leg.

>>24565757
You're underestimating how much they care about their "share" of the shekels. They freeze bank accounts at the drop of a whim. It doesn't matter where you live, the United States, FINCEN, etc. have control of the worlds financial system...

>>24565786
not that much as in it's not overpriced. just fucking pay it if you don't want to leave your country

UK fags move to Gibraltar (walk right in as it's a British overseas territory)and become resident. Pay a crypto lawyer and a crypto tax consultant (plenty of them there) and pay zero % CG. It's my plan.

>>24565822
Good goy.
Don't try to weasel your way out by finding a workaround or loophole. Just pay the golem tax.

>>24565822
I known someone who did exactly this and even went back home (uk) occasionally. He says he has to go there with as little money as possible and if they ask what did you do for a living, just tell them you won some lottery or some shit and spent them all. Although you have to put that money in an account not in your name or keep the cash.

buy monero and have a boating accident, then figure out a way to launder the money. don't get caught

>>24565992
>launder the money
spend money on fake business to pay income tax instead of capital gain on fucking CLEAN money. you people are extra retarded

Take out small amounts and you will not have to pay taxes.
Dont buy lambos, yatchs and mansions and you will not have to pay taxes.
Taxes are for swing traders, who dont believe in cryptocurrency and only want to increase their fiat holdings.
Making it is actually being free from wage enslavement. If you dont need to work and can pay your bills with crypto, you already made it.

>>24566079

>>24566623
Yeah.. let's just stay in crypto and not cash out during the TOP of a bullrun. Jesus dude. That cash an be used to get other assets and you can still buy the dip again for next cycle.

>>24565635
>>24565757
>>24565928
>DUDE JUST MOVE TO BOTSWANA!!!!!!!!!!!!

>>24566706
*Portugal

Just pay for a service, import all your trades, call it a day. They aren't gonna audit you unless you're making big dick money.

>>24566897
specify big dick money

>>24566751
>*Portugal

>>24566675
It's called stable coins.

How much does an irs auditor make per hour? How long will it take them to sift through hindreds of crypto trades? If A>B, you're fine

>>24567985
If B>A, congrats, you can afford to hire someone to figure it out for you

>>24565606
I traded a lot of shitcoins in 2017. Ended up not making anything. But lots of trades. When I do report to the irs I'm going to have my cost basis for link be what ever I bought it at in 2017.
If they want to audit and find every trade they can. 98% of the tax money you'll be giving them already, so if they want to waste their time investigating something I myself can't even get a number on, go right ahead. Might even get me some capital losses and make money