/biz/ - Business & Finance

>>2649393
Don't wanna get fucked? ez.

pay your capital gains tax

Dont cash through coinbase etc, cash out with bitcoin vending machines.
Theres one nextdoor to me with 5k/week withdraw limit

Remember to pay taxes xD

>>2649393
kek I came to /biz/ looking for this exact pic, thanks anon

Well I might as well respond to your thread while I'm here. I would suggest not cashing out. There are plenty of stores online that sell shit for BTC. We need to actually support this shit if we want it to grow. Fuck the IRS and fuck the banks. We /crypto-capitalism/ now

For quitters

Bitcoin.tax/FAQ

>>2649441

Either this or fork over your 40% to the Feds.

>>2649410
Somebody will be monitoring these soon enough. Either that, or they'll charge some kind of exorbitant fee eventually. Who would you rather end up with your money? The US Gov't or Uncle Yazi's Crazy Party ATM company? I mean that's for you to decide. I'd drip feed yourself through them now or prepare your returns later.

>>2649393
>converting to fiat
>ever
Top kek anon. This is a non issue if you simply make all purchases with btc.

>>2649410
So send it from coinbase to another wallet address? Also, a fucking bitcoin vending machine?? Are these available in the US or do you live in Eastern Europe?

>>2649481
is it 40? figured it was more 30 range

>>2649393
>use btc to buy high ticket items
>sell them
>money laundering

>>2649393
The IRS literally has NO FUCKING CLUE WHAT THEY'RE DOING when it comes to crypto.

Read this:
kek

https://www.treasury.gov/tigta/auditreports/2016reports/201630083fr.pdf

>Although the IRS issued Notice 2014-21, Virtual
Currency Guidance, and established the Virtual
Currency Issue Team, there has been little
evidence of coordination between the
responsible functions to identify and address, on
a program level, potential taxpayer
noncompliance issues for transactions involving
virtual currencies. None of the IRS operating
divisions have developed any type of
compliance initiatives or guidelines for
conducting examinations or investigations
specific to tax noncompliance related to virtual
currencies. In addition, it does not appear that
any of the actions already taken by the IRS to
address virtual currency tax noncompliance
were coordinated to ensure that the IRS
maintains a strategic approach to the tax
implications of virtual currencies.
Although the IRS requested comments to
Notice 2014-21 from the public, no actions were
taken to address the comments received.

>use bitcoin to buy paypal cards
>send that amount to various paypal accounts
>deposit into bank
>money laundering

>>2649582
>Bank reports deposits to IRS
>IRS fucks you

This is just where I stand on this, and I'm not trying to be anybody's dad.

If I manage to run my initial investment up to an amount where I felt like I was ready to cash a lot of money out, I would be so apprehensive about getting all my shit frozen for no other reason than my own greed that I would jump off the nearest bridge if that happened.

Again, that's MY sense and MY (hypothetical) money. I mean, fuck the government and fuck all governments to an extent but if that's the difference between retiring 10 years early and sitting in any kind of jail to me, no fuck it. Those jackoffs can have their cut.

>>2649645
>Don't transfer to bank
>use paypal for all fiat purchases

Wow looks like this meme money thing actually has potential for those of us without a mining rig. Just find an exploit in a faucet, mine like hell, and start investing. yolo bro