/biz/ - Business & Finance

>>24894954
Pls splain how?

>>24894954
(based)

>>24894954
UNDENIABLY BASED

>>24894954
BASED , MINE NEITHER THE TAX AGENCIES CAN FUCK OFF.

They are askign if we hold crypto, they don't ask boomers if they hold 7 houses and 3 cars they bought to hedge against 40 years of dxy going to shit.
THEY CAN FUCK OFF

>>24894979
never sell

>>24894954
>tfw you will never ever ever be American

>the year is 2021
>Jews on suicide watch
>Fed, bankers, and IRS scrambling
>sends out letters of incoming audits
>the citidel is formed out of a group of autistic neo nazi quadrillionaires
>they buy out every single employee of the IRS.
>start a new organization dedicated to making Jews pay reparations to the rest of the world.

>>24894954
>>24895104
>>24895414
You WILL pay your taxes. It's not optional.

You can rape children. Commit war crimes against brown people. Poison civilians. Commit psychological human experimentation. But, the one thing you can't do is not pay your taxes.

You have no choice. We will fucking take everything you own and rape your family. You will pay your fucking taxes.

>>24895522
t. NOT greek

>>24894954
So for hypothetical sake, say I pulled 5k out of coinbase today. How the fuck can the government know I did that? its not tied to my social at all.

>>24895522
>you WILL pay your taxes

Heh guys. Friendly question on how to reduce taxes from earnings? Could I start an LLC and claim myself to be a trader with which I pay myself all of my gains?

>>24894954
Kek. They will just take them. They can literally take anything you own with no court order. Your only recourse is to try to fight it in a special kangaroo court literally run by the IRS.

>>24895522
Burden of proof is on the IRS. If you never cash out, how can they prove how much you've made?

>no officer that "electronic wallet" is not mine sir.
>i lost that 30 grand on Uniswap and lost my hardware wallet sirs

Only argument is you'll never be able to cash out but at the rate we're going BTC will be the only global currency and cashing out will never be desirable.

>>24894954
So how do you transfer them to your ((bank)) or use them for real profits?

>>24894954
dangerously BASED OP, niggers and single mothers aren't seeing one fucking penny of my money

>>24895791
>Burden of proof is on the IRS
Oh you sweet summer child.

>>24895414
>mAN in ID
based moonman poster
NEVER SELLING

Are they asking if we own crypto or if we sold crypto? Because I've NEVER SOLD and WILL NEVER SELL so I'm pretty sure I can avoid their stupid question.

>>24894954
To based to be human

>>24896373
You can't out-legal the kikes

>>24895119
but you still owe taxes on crypto to crypto even if you never sold

THE GOYIM KNOW

>>24896461
hmmm not sure what a virtual currency is

>>24895756
Idk that dude that flew a plane into the IRS building made them shid their pants pretty hard. If people started tarring and feathering IRS employees they would have a hard time collecting taxes.

>>24896461
Aw fuck. Oh well, coinbase will rat me out anyway I'll answer it but since I've never once sold for fiat they can fuck right off. I also make a point of doing my uniswaps on the same day as I buy the ETH in the first place and don't swing so there's basically nothing to tax anyway.

Ultimate plan is to make it big, hire a genius tax accountant, and shelter everything in shell corporations in tax havens.

>>24896461
I made 400 wow gold farming killing bores in the arathi highlands. how do I report that.

>>24896545
Probably wow gold and neopets.

>>24896545
>>24896677
Sorry to double post but I would say that most tokens don't qualify as "virtual currencies", so LINK and PNK and whatever other tokens there are really shouldn't mean you have to check the yes box.

>>24896545
>I can out-legalism people who've used legalism to get their way for millenia

Fucking kek. https://www.irs.gov/irb/2014-16_IRB#NOT-2014-21

>>24896654
>Ultimate plan is to make it big, hire a genius tax accountant, and shelter everything in shell corporations in tax havens.
As someone who's made it pretty big, and has tango'd with (and been ass fucked hard by) the irs multiple times. Let me tell you, unless you have Jeff Bezos money, this is a complete meme. None of this stuff exists in the real world for anyone with net worths under the billion dollar mark.

>>24895791
>Burden of proof is on the IRS

>>24896895
How much poking around does the IRS do if you go the good goy route? Like say you cash out 3 million and you hire Jewey Goldstein to make sure every shekel that’s supposed to goes to the IRS. Are they just gonna say “hey thanks!” Or do they stick a microscope up your ass and look at phone records, bank records etc?

>>24895791
>Burden of proof is on the IRS
Let me just tell you how this works in real life because there is so much youthful ignorance on this board.

>IRS decides you owe them money
>IRS makes up a number you owe based on numbers they pull out of thin air, most likely this will be 10x or 100x inflated beyond any semblence of reality
>IRS sends you a notice saying you owe this
>You have 90 days to either prove in their kangaroo tax court that you don't owe it, or they'll take your house, your cars, your bank accounts, your business, and possibly even come in, take your clothes, tv, furniture, etc etc and have a big auction. They can do all this without any court action. Their power is literally unlimited and there are no checks or balances on any of it.

You're welcome for the life lesson.

>>24896845
Yeah I skimmed that doesn't look like LINK and PNK would be considered virtual currencies. Nobody pays for goods and services using LINK (although you could if you really wanted to).

>>24896895
Bullshit, there has to be a way or politicians wouldn't become millionaires after just two terms in office. Look at Biden, he's not a billionaire and he's pulling scams all the time. There's gotta be a way.

I imagine it will be difficult if you have your bank account tied to the exchange you buy from

>>24897077
...i need to get out of the united states

>>24896461
Noone is gonna tax my anime gacha gold FUCK off noseberg

>>24897077
This nigga knows. Don’t fuck with the IRS.

>>24896996
They'll only give you the anal treatment if something in your return or activity flags as suspicious in their system. They won't tell you what counts as suspicious.

I've learned my lessons and just pay everything they say I """owe""". Is it fair? No. But I don't have to sit up nights wondering if my next ass raping is coming up soon. The peace of mind has tangible value. ymmv.

Wait so if I lost $30k this year and made no money I still owe taxes on my crypto to crypto exchanges? the fuck

>>24896996
They just compare what you send them with reports they get from exchanges and your banks and see if it lines up (really it's a computer program that does this). If the numbers are close they call it good. If they're not they check to see if the difference is worth assigning a human to it and squeezing you. If they think the juice is worth the squeeze, they will. If not, they'll just wait until you're richer then slam you another year when they think you owe more. Source: I read a book written by an IRS agent once.

>>24897077
Yeah it's pretty bullshit but if you're all in crypto there's not much they can get without a court ordering your arrest and holding you in jail until you cough up your wallets. Frankly if it gets to the point where the IRS is that serious about coming after you it's better to either pay them or flee the country (good luck).

>>24894954
BASED

>>24897112
>Bullshit, there has to be a way or politicians wouldn't become millionaires after just two terms in office. Look at Biden, he's not a billionaire and he's pulling scams all the time. There's gotta be a way.

Biden gets millions from selling influence to the chinese, ukranians, etc etc. You better believe he pays every dime of taxes due on that. Look at this son. Why is he going to jail? Obvious fraud and influence peddling? Nope. He didn't pay taxes on $400k of his bribes.

None of this is fair or right, but it's how the system works

>>24896492
You don't? capital gain is when you sell

>>24897114
>don't use Napster if we catch you pirating music you'll be in big trouble mister! You wouldn't download a car!

>hide all my networth in monero

hehe, nothing personnel goverment

>>24897197
>Yeah it's pretty bullshit but if you're all in crypto there's not much they can get

If somehow they can't get your wallets, they can take your house, car, computers, furniture, tangible investments, bank accounts, etc etc.

>without a court ordering your arrest and holding you in jail until you cough up your wallets.
This guy has been in jail five years for not handing over gold he owes https://www.oxygen.com/crime-news/tommy-thompson-stuck-in-jail-after-five-years-over-gold-treasure

>>24897232
Nah, property to property trades are taxable according to the IRS. They consider crypto to be property.

>>24897309
Thanks for repeating everything I said.

>>24897151
This https://youtu.be/G56VgsLfKY4

>>24897363
>there's not much they can get
>literally everything you own down to your underwear

>>24896895
You can do what a lot of boomers do. Put a big chunk of crypto in something like celsius generating 5% APY. Take a loan out of 30% of your crypto collateral at 1% APY in interest. Spend loan money and use earnings to pay off the interest on the loan. No taxes.

>>24897363
buying crypto with money isn't property to property

Imagine having to do tax returns every year instead of being paye

>>24897309
>>24897363
This dude took 14 million off of 167 (((investors))) and that's why he's in jail, not because of the IRS, they weren't even mentioned in the article. Stop fear mongering the government doesn't give a fuck about their lunch money.

If you somehow make it big and want to cash out just pay taxes on it that year and you probably won't even get a question.

>>24894954
Amen

>>24894979
By not being a fucking cuck and not using KYC exchanges...
You think the IRS are omnipotent? LeCuck?

>>24895522
Nice conditioned cuck larping.
8/8 troll m8

why dont you retards start buying your crypto in person or from an ATM?

>>24896996
You give an inch, they take a mile and your anus with it

>>24895522
S E E T H E

>>24897454
I said "if you're all in on crypto". I mean literally all in.

>>24894954
just move out of us its that simple and thats hard

>>24897114
Hey tax man I dont really know how crypto works and that guy tricked me into sending stuff to his wallet!