/biz/ - Business & Finance

>>28780812
Which country does that?

>>28781049
OH SAY CAN YOU SEEEEEEEEEEEE

>>28780812
Ahhhhhhhh literally the first time that it's good to be a germancuck. Hodl longer than a year after a swing, no taxes.

>>28780812
Yes, it's taking me a solid week to do my taxes

>>28781049
only the united shits of shartmerica thankfully lol

Too poor to hire an account? You're too poor to swing.

>>28781133
What if you do multiple swings? .... can you still just HODL it to be tax free?

>>28780812

What the fuck, how can a country which promotes freedom limit the most free currency, dam I send good wishes to you. Atleast you can buy guns easily unlike here in the Europe.

>>28781133
how the fuck do you swingtrade if you have to hold each position for 1 year?

>>28780812
Any SWE annons here? My understanding is we have to delcare (deklarera) everytime we switch coins?

Is this true?

>>28781133
>>28780812
You guys actually knows Hitler didn't died in WWII, right? He moved to Brazil.

>>28781299
Because Brazil is tax free for Crypto?

Is he the original Satoshi?

>>28781299
Typical boomer, fucks germany and then goes to a shithole to fuck underage brown creatures in a slum.

>>28780812
just use cointracker or koinly. it's expensive if you're a massive swinger but it's easier than doing it yourself

>>28781228
Yes, just do nothing for one year, free of taxes

>>28781133
In leafdom we pay on our gainz if you cash out and get flagged

>>28781147

You should really hire an accountant, preferably one from a firm that's well-respected enough that the IRS just rubber stamps anything they send. It will probably end up saving you money and will definitely save you a lot of time.

>>28781264
Freedom in America is retarded. It is freedom on paper. But in the world of fact we dont have any freedom. Everything is taxed and regulated to shit. We cant leave pur houses to gather in groups. Fuck even during non pandemic times we cant even openly drink alcohol in public. It’s pull shit. America never shed it puritan ancestry. Only now we are also dominated by a bunch of leftist globohomo cucks. There is no fucking freedom left. We only have the idea of it in our Constitution, which is propagandized for the washington Jews to get into office

>>28781299
Argentina first, then died in Colombia in 1984

I HAVE FUCKING THOUSANDS OF TRANSACTIONS FROM SWINING WHY DIDNT ANYBODY TELL ME THIS AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

why don't you just fucking lie to the irs you idiots. Stop being scared you gay shit fags.
In my country everybody that is not a wagie make arrangement with the truth. Sometimes they get caught, once in 30 years, still a huge profit long term.
You are litteral pussys
Just pretend you didn't swing or swinged once it's fucking crypto there is probably a way to anonymize every transaction.
P U S S I E S

How the FUCK. am I supposed to keep track of my crypto swinging? The IRS is going to assrape me hard next tax year aren’t they?

>>28781297
Of course you should cash out first after you had enough of swinging, still better than muttland

>>28780812
How the fuck they even know, just pay taxes when you finally cashout. Nobody will report their 100 uniswap trades.

>>28781578
They have his corpse you know

>>28781299
>>28781419
>>28781421
https://www.express.co.uk/news/weird/455810/The-INCREDIBLE-picture-that-proves-Adolf-Hitler-lived-to-95-with-his-Brazilian-lover

what if I'm still net negative?

I thought you were only taxes when you cash out

Thats the case in almost every country, each swap is a taxable event. it is just an unnecessary pain but in the end is the same as declaring just on net profit, you won't be paying more

>>28780812

>>28781803
depends on the country but normally every trade is a taxable event, however I think most people get away just declaring on net profit (if you declare at all)

>>28781803
https://www.investopedia.com/terms/l/like-kind_exchange.asp

>>28781633
But do I have to declare crypto? This shit isn't real money, it is like declaring pokemons or something, I am not going to declare my pokemons to the IRS.

>>28781633
irs can take 1 look at your wallets and track every swing you made

>>28781298
Alla byten och försäljningar ska tas med i deklarationen. Deklarera gör man en gång per år.

>>28781298
Ja. K4 formulär.

>>28780812
Why do you have to cash out?
Just buy with your crypto credit card

>land of the free
>cant even swing trade
AAAAAAAAAAAAAAAAAHAHAHAHAHAHAHHAHAHAHAHAHAHAHHAAHAHH

>>28781974
did you dispose some of your pokeymans for a profit? if so then yes

>>28781974
why are you even declaring shit?
But if it's real big money just pretend you did 2 or 3 trades MAX, or whatever benefits you. Who the fuck cares. You just fill a paper and write a check. In my country tax people are notorious idiots and incompetents you are better avoiding them than telling the truth

>>28781421
Based

>not using an excel spreadsheet that keeps track of this for you

>>28782001
But will they do it? Unless they have a reason to doubt, then no. And if they do, well, just say it gave you a headache. you guys are all pussying about the IRS i did the same when i was younger in my country and realised tax people are just lazy obnoxious stupid cunts. Better scam them if you can than the opposite

>>28780812
This is why you buy the peaks and sell the dips so the IRS owes you

>>28782237
>did the same when i was younger in my country
the irs do not fuck around. An audit is essentially a death sentence in america.

>>28782111
Do I have to declare my runescape items too? If I find a rock in the ground and give it to someone, is it a taxable event also?

>>28781298
Apparently thats the case. I dont know any good way around it but if you cover your tracks and and find some coin that matches the timeframe and growth of your portfolio you could just say that you bought that coin and nothin else. If SKV fucks with you you gotta just claim you lost your keys and worst case scenario should be that they take your money. So maybe do that with a portion of your gains and find smarter ways with the rest.

Disclaimer: i own absolutely no crypto whatsoever.

>>28780812
America, the land of the freedom (only for the rich)

>>28781049
The Land of the """Free""".

>>28780812
I remember being pretty concerned about this a while ago, but then I read that this is only valid for americans.

>>28782001

>>28782476
i think you are way too scared. Especially declaring one trade instead of several isn't like you are trying to fraud 100%. Could just be a mistake, a way to avoid a headache

>>28780812
land of the (((free))) at it again lmfao, get fucked murrishards, we have 24% tax where I live and its ridiculous already so I'm moving to Slovenia for no tax at all, at least we can do that without any problems, get fucked.

>didn't claim taxes on baseball card trades
>didn't claim taxes on POGS
>didn't claim taxes on MTG

you all are seriously fucked.

So do I have to pay taxes every transaction or when I want to cash in and put it back into my bank account?

>>28780812
WAT? I fucking hate this place

Any income you made is taxable for the year on a swing. So if you did a 10x on RBC and moved it into something for another 10x in the future you'll have to pay taxes this year on the gains. Even if you don't plan to cash out until you've had your cool 3 mil. It gets really annoying at the just between 2-3x yearly salary levels. Because you gotta come up with all this shit even if you didn't want to cash out yet.

>>28781049
sweden does too, but you are only allowed to deduct 70% for every loss.

>>28782759
lol ok
>>28782767
if you're saying I'm scared of committing tax fraud then yes. You're welcome to give it a shot.

Robinhood just auto imports your trades whats the problem?

>>28781633
the IRS is the sadly the only governmental organization in the US that is actually competent at their job

>>28781133
>Hodl longer than a year after a swing, no taxes.

>buy 1 btc @10k
>next day price goes to 20k
>sell
>price goes to 10k
>buy back and hold for a year
you will still have to pay taxes on the 10k gain
you had to hold for a year BEFORE the swing, which means you can swing ONCE A YEAR
prove me wrong

>>28783020
>>28783276
Ok.
Let's say you did 100 swings.
And you declare only 3 or 5 but declare all the final amount cashed out.
What are the odds of getting caught?
1/100?
If you get caught, what will happen?
Apologize, pay a fine plus all due taxes?
Probably talk to an irs person, that will understand it was all a mess and you were trying to make it simple. Pretend you mixed up losing and winning trades, etc....
I don't think it's such a big deal. Don't be so scared, it's not like you are doing some big crime or money laundering

>>28780812
This makes no sense.

>purchase crypto using fiat
>pay the people who control the fiat
>swap coins
>WHY DO I HAVE TO PAY THE FIAT COMPANY FOR THIS????????
>sell crypto for fiat
>pay the fiat company for their fiat

european bro here, can confirm that taxes on this shit is actually retarded

>>28781129
lmao

>>28782001
Oh is that why they gave a shitty reward to anyone who could crack Monero? Btw that hasn't been done yet and now you have TORN to add to it.

>>28781049
The “land of the free”

>>28781049
the free one

>>28782001
How will they know? The IRS barely audits anyone. They can find your credit card or bank info to find what you bought but it's not immediately available to them. Once you move it into a wallet they can't easily track it. You're giving the gov't too much credit

>>28780812
Why should I care? Since each token & transaction is trackable I’ll literally just cash out my oldest stack.

>>28781788
you can file for a tax reduction

>>28781548
what about turdotax

>>28783846
Also covid back log with diversity hires working under capacity.

>>28781559
Thank god I can inject heroin in the streets at a bus stop in front of a cop with no consequences

>>28783854
>tax reduction
It's a tax DEDUCTION you fucking idiot. You don't pay taxes on losses, and you pay less tax on income if you lost money in investments. Stupid fuck.

But in germany every swing trade under 600€ is taxfree right?

>this thread
Alright children, listen up. Whenever you buy anything and sell it for a profit, you owe capital gains tax on it. Crypto are considered property/assets and are taxed as such. It turns out that this method of taxation actually works out in your favor since capital gains are offset by losses, so every fee and every loss you incurred for the year swinging is less you have to pay on your gains. But yes, each time you do anything with a coin, it's a taxable event. And yes, that means you'll be paying short-term capital gains taxes on your investment which is based upon your tax bracket.

>well I'll just get a card and use my crypto that way!
That would mean each purchase you make it "cashing out" and would be liable to capital gains tax, technically.

>>28780812
long term vs short term
One should be 90%, the other 10%. Calculate all by the last in first out method, now you should have 90% long term capital gain tax free on which you can add profits from your short term gains. Add a big fat "loss" on your short term each year, and the state starts to owe you money for your degeneracy. Pro tip, add loans to the mix, crypto and non-crypto

>>28781559

This is the single most incendiary, patriotic, revolutionary combination of words I've ever read on the internet.

Freedom On Paper.

Fucking goosebumps.

>>28781559
imagine what it takes to get a loaf of bread from the wheat fields into your shopping cart
all those transactions, and every single one is taxed. Not to mention all the work hours, and the taxes on those. And property taxes on almost every structure involved. And more taxes that I don't even know about.
All those taxes add up over the entire process of growing the wheat, selling it and shipping it, milling it, repacking it and shipping again, etc. etc. until finally it is a loaf of bread getting scanned at the cash register.
And who's the lucky fuck who gets to pay all those taxes
and what would a loaf of bread really cost?

>>28781788
The losses can be rolled over to the next year to offset the taxes on your gains and up to 3K a year can also be deducted from your income taxes.

>>28783846
Nobody worth anything isn't saying that it's impossible to get away with tax evasion-- it just isn't worth it for peace of mind. Know the system well, use every advantage you can, but then pay your taxes and be done with it instead of rolling the dice, eventually getting audited years later for your stupidity, and paying back taxes out the ass since you now owe interest. Also, centralized exchanges report on 20k of profit or more to the IRS, and banks report specific deposit amounts.

>>28783846
I'm not saying you can't get away with it. Plenty of people will get away with it without even realizing they are because they forgot to declare shit. But if you do end up getting audited you're fucked, blockchains are easily trackable that's the whole point of them.

>>28783276
maybe at fleecing poorfags

>>28780812
Wait, you guys don't actually pay taxes on crypto do you?

>>28781049
The question is, which country does not?

>>28782001
>what is no kyc?
>what is Monero?
>what is TORN?
>what is plausible deniablility?
>what is using only DEX and never CEX?

>>28782139
>my country
Please be Canada

t. Leaf

>>28783417
>swing until you've made it
>cash out into USDT or some other stable coin
>wait a year
>cash out into fiat tax free
Am I missing something here?

>>28783846
But what if you transfer your gainz to your bank account?
Would they say "oi, pay the tax loicense criminal scum!" when you wire $1k - 50k?

>>28784169
>Whenever you buy anything and sell it for a profit, you owe capital gains tax on it.
Not in my country... if I keep a coin for more that 2 years.
Yes, tax is literally 0 then.

my coworkers big bucks investor buddy got audited once, after declaring his taxes to the fullest every year, they said he owed .39$ when it was all said and done.

>>28781559

It's such complete bullshit anon! Finally, finally theres a way for poor to middle class people to get some wealth to their names, to get involved in finance, to get out of fucking poverty; what's the reaction?

Here's what the reaction should be: Oh thank god! Now we don't have to do anything as politicians! We can just sit back and let the economy fix itself, woohoo! All these people are going to be rich!

NO, INSTEAD THEY SAY;

OH NO, THE FUCKING POORS ARE STARTING TO GET SOME MONEY! QUICK, TAX THEM TO DEATH AND THEN MAKE IT ALL ILLEGAL SO THIS CAN NEVER HAPPEN AGAIN!

Fuck these people. Freedom on paper, that's all it is. We don't have any fucking freedom at all.

>>28785114
Yes you’re missing a lot.

>>28785114
nothing unless you get audit, I heard if you send the IRS 30% they won't come after you

what is crypto tumbling for 100 alex

>>28780812

Gains on crypto to crypto are taxable. It won't kill you, its just annoying as fuck come tax season.

>>28781886
This and it's just a fucking pain in the ass.

>>28785114
Every swing = taxable event, including going into USDT.

>>28781633
You cant scape the IRS, even if you are an expat and live in another fucking country. As long as you are a citizen, they own your soul and money

>>28782887
It's every sale but it also has to be a sizeable gain or they don't give a shit.

They aren't gonna tax a swing where you made 200 bucks much to at all, for example. Don't quote me on that but it's pretty close to income tax.

>>28785114
crypto to crypto is taxable

How many will rope when they find out they've been evading taxes and they are in a load of trouble?

>>28785114
the moment you swap to a stable coin, you already need to pay taxes

>>28780812
Lol, just dont pay any taxes, what is the problem here??

>>28781720
>cash out
>had enough of swinging
What kind of word salad nonsense is this?

>>28783846
i got audited last year

>>28781147
Just use Koinly retard

>>28781559
You’re pissing on the Puritans over the current state of affairs in the US? Wtf

>>28781264
Freedom in America is freedom to have poopy butthole sex and replace your penis with a gaping ax wound, not economic freedom. Only Jews are allowed to have money here.

>>28781264
> needing a gun
fucking onions boys get the fuck out

>>28785620
Honestly the thing I hate about the IRS, they already know everything about every transaction you make, but you still have to panic and pay others to do your taxes just right or you get fined or go to jail because you're gonna submit the information they already know about you wrong

>>28785764
I think it's a combination of legacy + if it worked that way, anything they missed wouldn't be taxed. As it is, the current system gives people incentives to "be honest". If you knew then what they missed, you could abuse it in the future more easily.

A huge chunk of anons on this board need to stop acting like they’re broke. Just hire an accountant.

>>28785764
Koinlys free. But yeah, the commies are right about one thing — the tax codes in our country are designed to fleece normal people but let kikes roam around free. The government should calculate your taxes for you, not the other way around.

>>28780812
>WAIT WAIT WAIT YOU'RE TELLING ME EVERY SWING IS TAXABLE?
it will only cost you money if you buy low and sell high. Since you're posting on biz I can only assume you're doing the opposite and swinging your stack towards zero so you should be able to claim a net loss at the end of the year.

>>28782558
Yes goy you must report all income because everything you do must have a 10-20% cut stolen from it

>>28785732
The ability to credibly project and legitimately apply physical violence is the supreme authority from which all other authorities derive.

You cannot be self determined otherwise.

>>28782476
>death sentence in america.
LMAO the two people I know who have been contacted by the IRS were able to write them a letter (with the help of a lawyer) and resolve the disputes without further issue. You’re a fear mongering idiot.

>>28785137
Then they would know. You should pay tax on your net profit once you cash out. Not worth the risk. But how would they know if it's 1 transaction or 10 is my point? And if you keep it in a wallet for over 1 year (even if in stable coins) they won't know if it's a ST or LT gain. The LT gain is 20% vs your ordinary income rate for ST.

>>28785564
That sucks. But are the less than 1% that does.

>>28780812
Only if you're a retard, or American.

Hey IRS, now that you keep track of all virtual currency transactions, you should know that I lost more than 200 billion ISK this year from my freighters being ganked in EVE online.

The tax deductions from my losses should more than cover for my crypto gains in 2020. Thanks.

Just live in international waters.

>>28782943
kek imagine being american

What if all myoney is in a non kyc wallet and non kyc exchange? Get fucked it's faggot you won't see a dime from me

>>28780812
That's right. Every time you sell and make gains you pay capital gains tax just like stocks.

Burger here. Yep every swing is a taxable event but so what. I see it as a game. It forces me to trade smarter as huge losses will fuck me. But if I’m consistently up, then the Jews get their cut. Plus using DEXes and multiple anon wallets makes it hard to truly track the flow. Additionally the IRS crypto reporting form is fucking retarded - I bought “x” on this date and sold it for “y” on this date. Given the way coins swing, I can sell at .5 and have a coin crash to .2 on the same day. Guess which value gets reported. Same with buys. When purchasing, I make sure when I buy and transfer a coin off a cex I send it back with a little profit or loss to that same cex. Buy ETHs on coin base pro for 5000, send to anon wallet, later send back 7000 with trades to show the gain. Never mind Every time I've mentioned I'm a woman on here people just ask to see my tits the 30k still floating around my anon wallets, the IRS has believable numbers and transactions to back them. I also tend to do my taxes in such a way that I pay a little more than I should. I’ve been audited twice (I make mid-high six figures at my real job and don’t try fancy bookkeeping loopholes, seems to make them suspicious ). Both times I ended up getting additional money back from the IRS. Nothing discourages the IRS more than thinking someone is creating and then having to pay them more money back.

>>28781299
That's a Jew lie. Hitler went down with his people in the capital of Germany. He shared the fate of his fellow citizens. The Jews want you to believe he fled.

>>28780812
It only matters if you were swinging on a CEX. IRS doesn't know what happens on uniswap.

>>28782111
Do you have anymore of those pics?

>>28781724
this

>>28784055
LOL

>>28786778
Post tits or GTFO

>>28780812
>not knowing how to evade taxes
unironically ngmi. if you pay more than $100 a year in taxes youre retarded

>>28782001
Okay sa can they also send me the bill? I don't want to waste few days counting this shit.

>>28787198
Kek, well played

>>28781264
can buy guns as a swiss citizen.

>>28780812
Taxable on money that was already taxed at that.

>>28786778
Lol, just use an exchange where you didn't do KYC, I will do everything in my power to avoid funding kikes, niggers, and trannies, FUCK AMERICA!

>>28780812
I am so fucked

>>28786682
"Virtual Currencies" does technically cover things like EVE ISK and WoW Gold. How do I deduct my WoW losses?

>>28786682
me too IRS I got scammed out of my runescape gold a while back
I wanted to buy a gf(female) but I ended up getting a gf(male)

>>28786501
How would you go about cashing out though?
Just tough it out and pay the taxman or do some taxhaven offshore account stuff

>>28784839
pretty much all of them

>>28785378
>make it
>move to a third world shitter
>cash out
>fake your death
>??

So even if I make it, the IRS kikes will take most of my money? What’s the fucking point then? Is there a way to hide your crypto from them?

>>28781049
take a wild guess

>Be jewnited states niggers
>Wageslave
>Taxed on wagie
>Put wagie in crypto, gmi.jpg
>Taxed AGAIN on every trade

>>28782476
My dads been audited twice and he’s a day trader you’ll be fine it just takes forever if you go through it on your own

>>28787863
Baltimore is such a nig shit hole.

>>28785913
Some of the banks don't accept crypto transfers. Some anons probably don't use their banks.

>>28786783
He survived dummy, it was a secret deal between mutts and Germany or else Hitler would've been Stalins war trophy and we wouldn't get the holocost lie

https://www.cia.gov/library/readingroom/docs/HITLER%2C%20ADOLF_0003.pdf

>>28784839
Germany doesn't, thankfully. Only yearly profits are taxed

>>28781264
>a country which promotes freedom
It's not the 18th century anymore, bro.

>>28781559
>We only have the idea of it in our Constitution
Right, muh constitution. But then if you do some extra thinking you realize how /fundamentally/ fucked the USA is. The constitution /gives you Liberty/, not Freedom - and there's a big difference; liberty is permission to do something you're otherwise not permitted to do. Freedom is freedom. It's not liberty, and it's something you have inherently. But Americans are programmed to think "we have been given freedom" (by the constitution, bill of rights, by being a citizen, etc), which creates a subconscious slave mentality. A people that KNOWS it isn't free, is usually more free in their minds than the average American because of this. And to make it worse, Americans believe their freedom and rights are given to them by the Jewish god Yahweh. Then add on top of that the fact that most of the founding fathers were Freemasons, George Washington included, and that Freemasonry was /from its inception/ a Jewish-controlled institution, created by the Jews as a Jewish tool to further Jewish interests. *

* and if you doubt this Freemasonry was Jewish from the start, and instead believe the Jewish lie that it was "infiltrated" and "taken over" by Jews later, then see for example these pics: https://archive.4plebs.org/pol/search/filename/freemasonry%20jewish/

With the Jewish tool known as Freemasonry, it's just as with the their tool Christianity; the Jews spread disinfo about it and portray it as being goyim-controlled and being anti-jewish, when it was their creation from the beginning.

>>28781297
If you convert to a stable coin like usdt you are still investing in a crypto, so youtil you don't cash out you are fine, but I'm not a burger so I'm not sure

>>28788194
That document is nonsense. There's documents there about aliens and telepathy and all sorts of garbage. If you believe "something is on the official glowie website, therefore it's true" then you got major issues.

>>28787982
I lived there for a little bit
It is by far one of my least favorite cities next to LA and NYC
Fuck baltimore

>>28780812
>swing swing swing
>trade for stable coin that is tied to currency
>hold for year
>boom not over taxed

>>28785518
"Crypto tax, i didn't know about that! i'm so sorry mr IRS, i'll happily pay you back, can we work out an instalment plan?

>>28786778
>it's a feature

>>28781421
Brazil LOVED Nazis. There are/were entire towns of SS soldiers and Nazi sympathizers. Germans vacationed there all the time before and during the war. There's tons of Nazi shit there. Go educate yourself.

>>28782943
How the fuck do they expect you to pay taxes if you make a measly yearly salary, but your crypto gains are massive? Are your options seriously just pull crypto out (thus creating another taxable event) to pay the taxes? Or go to federal "fuck me in the ass" prison?

>>28788372
This pic was missing from those results I linked.

>>28785378
Doesn't you pay the taxes in the country you live the most? Regardless your chitizenship?

Lmfao imagine actually transferring your gains to get taxed. Just hold the funds and never pay. Those niggers will never find your $

>>28781264
(((freedom)))
Also they are slowly but surely eroding away gun rights.

>>28788936
Nope, Amerimoots have to pay BOTH the IRS and their local residency taxes.
Anywhere in the world.
Sometimes people who have American citizenship (but never claimed it) have to renounce it when they find out out of nowhere the IRS wants them to pay American taxes.

And it costs several grands to renounce your American citizenship.
The IRS never loses.

>>28784919
Anytime someone says "My country", they are, without fail, from an irrelevant shithole, like guatemala or lithuania or yemen.

>>28787654
what are some dex that are sketchy tho? i have a 3k linkies that i know aren't safe on coinbase

>>28789087
it's disgusting
Biden taking away immunity for gun manufacturers sets a dangerous precident.

>>28788697
My GF from a few years back was half German half Brazilian. Pretty sure her great grandfather was SS or something. Really nice girl, I should have married her.

>>28789137
Fuck the system is so fucking rigged. And I listen to people in america that earn 5k a month and are still in debt, instead in other countries 2k a month is enough to live debt free.

>>28784055

>>28780812
>paying taxes on crypto
Anon I...

>>28789366
Gonna sue the car companies when I get in a crash.

>>28781909
that's a pre-1948 flag

So if you use a exchange without kyc, or a dex, shuffle your crypto, find someone that exchange it for cash in localbitcoins or similiar, didin't you succesfully evade it?

>>28782637
Fee*

>>28789354
I use Kraken, I'm not satisfied with it, but I think I only needed an email and a phone to sign up, there's a 5k withdrawal limit, but whatever

>>28785201
s u b s o n i c 2 2

>>28789632
For real.
Showing my /g/ here, but what happens when someone abuses open source software?
Are we going to issue a takedown request for all abusable software?
This whole buzz in the past 5y about "cyber weapons" has me concerned about the future of open source information security research.
Esp considering you all already know breaches and other attacks are only going to grow as we become more and more connected.

>>28789459
yeah but muh rich country lmao

>>28788762
Exactly, and quite frankly I could think of worse problems to have, just part of the cost of doing business, any business. Asother anons have eluded to, it is much better to know how to game the system than complain about it. Tax harvesting and wash trades can be exploited in ways that are specifically forbidden in stocks and other equities, for example. Also it is quite easy to simply set aside a portion of a large windfall in a CD or some other inflation protected asset.

>>28790066
>3% APY CD
>protect from 3% daily inflation
oh nonononono

>>28784919
I>in my country tax people are notorious idiots and incompetents you are better avoiding them than telling the truth

This is Canada, you tell the car anything they will not go away you will be audited the rest of your life, you tell them nothing, nothing will happen.

>>28783806
The land of the "fee"

>>28781633
>he thinks the IRS has to prove their case

Fucking kek. They literally just send you a bill for what they think you should pay, and your only recourse is to prove it's false in their own kangaroo tax court. The burden of proof is on you.

>>28789459
Clear 6k a Month. Broke as fuck most of the time trying to make sure my family is somewhat comfy. Hopefully grt will save me. Not paying taxes on it btw
T. Americlap

Reasons I want to move to Portugal:
Tax free crypto
low cost of living
high avg life span
near some of the best beaches
centrally located so traveling internationally is pretty convenient

>>28782001

LMAO this is retard tier FUD. If this was true then why does the IRS make us file our own shit

>checkmate

>>28789226
Astute observation anon. Will add that to my poor detection toolbox, thank you

>>28790262
That's cute, but that is what traders typically use CDs for, see also VTIP. There are crypto traders here right now that don't know this years losses can't be deducted from last year's gains and owe more in taxes than currently own.
Tax strategy is the entire reason I myself escaped the 2018 crash with gains intact.

>>28783276
See>>28790478
They aren't competent, they just clobber people.

>>28780812
reminder you poor fools trading fake currency will only be left with fake transient and aritifical crude mockery of what human happiness requires; you must embrace natural tradition culture and the natural order. you guys and girls will never be happy doing this jewish black pedo billionaire elite psyop dopamine trickery

>>28788351
What? Every single trade has to be taxed if the purchase of the cryptocurrency is not older than 1 year (in special cases 10 years). However, you have to pay only once a year at the tax settlement.

>>28784148
No, if the total annual profit (and that includes everything, not just cryptocurrency) is over 600€, everything will be taxed. Also the 600€.

>>28780812
just lose money on every swing and youre fine

>>28791428
I'm not sure I understood every buzzword of your post but I like coins haha

>can buy guns and go to war at 16 to kill others
>can't buy tobacco and alcohol to kill yourself
>can sue a corporation for millions because they didn't explicitly tell you not to put your cat in the microwave
>have to pay taxes on monopoly money trades

>>28780812
Does this count if every time I swung I lost money. Or made sub $200>

>>28781724
I think Coinbase auto reports you ;_;

>>28780812
>yeah that’s what irs means.
>Ievery
>Rdollar you make
>Sis ours
Or irs for short

>>28781049
just about all of them

>>28791527
I meant it in the sense that you can deduct overall trade losses from the individual profits. Burgers can't do that

ITT: Europoors pretending like their trading laws arent worse than Americas

>>28791985
I thought it stood for Incestuous Rape Squad

>>28790845
>why doesn't the government do the work for us?

Where I live I only have to pay 15% of my profits when I cash out.
But I won't even pay that, obviously

>>28781264
American “freedom” has been a meme since 1913. Surprised freedom of speech has made it into 2021 honestly

>>28781731
The one russia has confirmed to belong to a 30yo male?

>>28791061
>this years losses can't be deducted from last year's gains
This is false

>>28780812
>American
>"free"
holy shit

>>28784408
Well I haven't made 20k in profits so fuck em, I'm not reporting shit, suck my cock IRS

To answer everyone's questions: it's the fucking kikes.

i dont get it. who cares? you cant escape taxes. are you just gonna choose not to make money because they will take some? its not like they are taking more than you make, even wagies get taxed

>>28790478
Theres literally no reason not to shoot three (((people))) and nuke their banking cabal from orbit.

>>28793339
Should we all hop on your discord?

>>28793320
When you win less the way you have to make decisions has to change due to same probabilities less gain

Death and taxes anon. You always have to pay the king.

>Death and taxes anon. You always have to pay the king.

>>28781049
Pretty much all of them. You are disposing an asset.

>>28780812
yeah just like the stock market

>>28793320
i dunno doing all this day trading and crypto memeing, i just see it as profit. its no different from a pay stub with the taxes deducted right on the page, except they arent on the page, they just come in the future

>>28784169
Just move to a state with no capital gains tax lol

>>28784169
Isn't there a $3k yearly limit on losses?

>>28792084
yes we can lmao. we can deduct losses if the trades happened in the same tax year as the profits

>>28781755
Lmao Hitler and his niggerwife

>>28790508
> Making 6k a month and being broke
Nigger how? Do you live in a city or something retarded?

>>28781578
>then died in Colombia
they literally found Mengele's corpse in Brazil, anon

>>28781299
Argentina
Alzo
Czech'd

Hahaha

Does this apply to UK?

>>28781049
germany

>>28781299
checked

>>28790749
It's also one of the most socialist countries in the world filled with empty houses with generations of claims on some of them.
Population is old and it has one of the highest divorce rates in the world.
As a bonus, not only is net emigration of young ppl growing, but they also managed to fuck it up even more by electing a literal commie
Have fun in Portugal sir. Good luck

>>28782476
> death sentence
Lmao

>>28780812

>>28781049
no idea if my country does that, probably it is. but im not reporting every trade anyway. that's nonsense paperwork. just net gains at most.

>>28797217
Dont take my word for it, but I believe only realised gains get taxed. God save the queen.

>>28785201
They literally want you to be poor, and say they want you to be rich. What baffles me is that so many people haven't figured out that all politicians lie. "But not muh political party!"

They're all devils

>>28781147
Use Koinly retard, you'll be done in 10 minutes, it syncs all of your wallet/exchange history in like 2 minutes.

>>28780812
This is why I swing on no kyc exchanges

>>28781599
Koinly

And Polish faggots here? From what I've seen you only pay taxes from overall profits in a given year, no swings or anything. It's still jewishly fucking high, but y'know.

If i only put $2000 and swinged my way down to $500 since last year, do I still have to file them? U.S. btw

It does not matter if you gain 10k through 30x swing trades or 10k from one sell off. It all amounts to the same. Let's say 10% tax, so you get 9k.

It does not matter if you swing trade or sell once. Why are you guys having a discussion about this?

>>28798054
Cheers lad

>>28798671
You can report it as a loss and reduce your taxable income for that year, actually

>>28797420
b... but the girls are hot

>>28798903
you get taxed for crypto to crypto trade and that is honestly bullshit

>>28780812
Why does it matter if every swing is taxable? Your capital gains are taxed. You could do 100 swings for a profit of $1000 or one trade for a profit of $1000 and you're still going to pay the same amount in taxes overall.

Most of my swings from 2020 were losses anyways, you cannot tax retard

>>28781049
Australia too. I day traded for a month before I realised like a dumbass and 2 of the exchanges I used are dead now so I have no transaction history for them. Piecing shit together is going to be fucked but I also don't want to pay some kike to do it for me. Just haven't submitted my tax declaration for that year. The tax office has sent me like 5 letters that are getting increasingly threatening.

>>28788882
this has a typo in it

>>28781169
damn near every country in the west actually

>>28780812
fucking germany, crypto to crypto taxable event

>>28799198
It is like taxing people for trading pokemon or mtg cards. Or taxing Americans for converting GBP to EUR while overseas. I can't believe that horseshit got passed.

>>28788452
In Norway every trade is a realization, except if you transfer from one wallet/exchange to another.

>>28798054

>>28780812
>Private investors do not pay tax on capital gains. As in 0%..
>Tax authorities may in theory classify you as a "professional investor", e.g. if it is your main source of income, but it rarely ever happens in practice.

Feels good to live in the country of cheese, chocolate and mountains.

>>28781517
wrong

>>28782637
Better country than yours. That's why you use all of our shit and can't stop obsessing.

Once all 20b tokens have been minted and literally nothing happens, what do you think will be the next Reef FUD?

>>28781523
so if you don't cash out but are increasing your gains in crypto they shouldn't be able to find out right, as long as I don' cash out?

>>28780812
you monster, think of single mothers and lazy niggers, who's going to provide for them?

>>28781559
there is no political solution. only organized violins will do anything

>>28801182
swing is taxable then..

>>28781517
my man from the Finanzamt told me, that if you make profit through that swing, that profit has to get taxed.

*laughs within a HSA*

>>28801693
Cope

>>28801182
Tbh I'm just waiting for them to start taxing based on yearly value of your crypto holdings even if you don't cash them out. The Biden administration are just the people to get it done.

>>28792223
I mean that's literally what they do, like this >>28790478 anon said. They'll send you a letter saying how much tax you owe.

just use nexo and u dont have to pay any taxes because youre getting a loan from them its easy

>>28781517
You get taxed when you take a profit, it just will be less if you hold for a year.

>>28790478
Exactly this, and they will send shit saying you owe shit, just to hope you pay it when you don't owe them shit.
I've had them send me shit for my business, I just hand it to the account and it disappears.
It's a crock of fucking shit, they send it to you and you don't even have to sign for it, it's not even certified.
That shit should be illegal.

>>28781421
Kikes ruined Germany. Hitler tried to save it. Germany is now a Muslim country now because the Jewish won the war

>>28799892
>2 of the exchanges I used are dead now so I have no transaction history for them
If you can't get the transaction history, how the irs will?

>>28803183
>tax on yearly value
so you can pay taxes repeatedly on the same money? what kind of retardation is this?

>>28784839
Portugal, Italy

I'm from Italy and here it's definitely not a taxable event. You have to pay taxes (26%) only if you have more than 51k euro on exchange for more than a week during the fiscal year and/or convert that amount or more to fiat. Things will probably change, but government is totally ignorant on these matters.

That's why I just stick to my wallet and omit all of that

>>28803911
Wrong anglos ruined it
https://youtu.be/UNzBJ3RtF_A

>>28782999
In America you can only deduct $3000 losses total.

>>28780812
especially the losing ones

>>28803911
Hitler kikes and anglos ruined it. Hitler was a shit puppet

>>28804301
Anglos were commanded by the kike elite. They were tricked to fight against their own best interests in favour of the Jewish interests

>>28804301
>Wrong anglos ruined it
nice

>>28780812
BUY HIGH SELL LOW

>>28804475
Possible. But anglos traded their power away then without street protest so in that way they are guilty

>>28781049
Land of the Fees, Home of the Slaves!

>>28801182
You only "add to your tax burden" when you make gains.

The gain is what the proceeds are minus what it cost (measured in GBP).

So say you buy 1 BTC for £10000. You then trade 1 BTC for 50 ETH. On that day, 1 BTC/50 ETH is worth £12000.

For tax purposes you record your sale of 1 BTC and the proceeds were £12,000 (even though you got that in the form of 50 ETH). The chargeable gain is £12,000-£10,000 = £2,000.

You then have 50 ETH. Two months later, you trade the 50 ETH for 1 BTC. On that date, 1 BTC = £14,000.

You sell the 50 ETH for £14,000, and the gain is £14,000 - £12,000 (because you bought it for £12,000 in the form of 1 BTC) = £2,000.

You get this 1 BTC acquired for £14,000. You then sell this for 45 ETH some months later, where 1 BTC/45 ETH is worth £13,000.

Your chargeable "gain" is £13,000-£14,000 = -£1,000, a loss.

At the end of the tax year you add up all the gains and losses: £2,000+£2,000-£1,000 = £3,000.

You have a total gain of £3,000 for the year. That falls within your annual exempt allowance and no tax to pay.

UK ^

>>28785518
It's going to be funny when they crunch the numbers and realize that they owe me.

In France we have to pay 65% to the FISC (IRS) when we cash out

>>28805988
reeeeeeeeeeeeeeeeeeeeeeeeeeedditorconfirmed

I just like, don't pay it

>>28785201
Imagine 20% of zoomers being millionaires, no way in hell they want that

>>28798130
>>28785620
How many of my coins with Koinly take?

>>28804327
are you serious?

>>28801693
Cope

>>28780812

The absolute state of biz

>>28801182
>Using crypto assets to pay for goods or services
Isn't that just VAT? Or they're charging you an extra tax on top of your VAT?

>>28782558
this right here. who the fuck do you know that sells something p2p, a car, a hat, some toold, PROPERTY on craigslist that thinks to themselves afterwards, hmm i need to report this realized profit to the irs. FKING NOONE EVER.

>>28780812
Yes. Day trading crypto will get you bent by taxes in most of the first world.
HODL and get APR/staking, since that's taxed as income rather than capital gains in the US in the best option.

https://www.coindesk.com/library-congress-report-staking-mining-tax

>>28785530
this. who do you know that thinks about paying taxes on realize gains on basically anything not significant? shit under 20K is peanuts and will go un noticed. above that is where you cant evade.

>>28785732
fuck off Jet Li

>>28782296
this guy gets it

>>28781653
zenledger.io

>>28782999
>but you are only allowed to deduct 70% for every loss.
False. You can deduct losses fully against gains. Unless you have a majority loss during the tax year.

>>28780812
Ze Judenited States of Shekelerica

>>28781049
it would make more sense if they just eliminated the concepts of short/long term gains and simply compared beginning balance to ending balance for tax purposes.

>>28787463
and store it in a gunsafe, unloaded, with a trigger lock/guard. Ok yurocuck... I can buy guns in Canada too, doesn't remotely compare to firearms ownership in America....

>>28783840
Freedom isnt free. Freedom costs a buck o five.

>>28781169
Kangaroo land does it too

Call me a retard because I'm new to crypto, but how do shady people in the deep web cash out?

There's people making millions doing illegal shit, how do they get cash back without the gubmit knowing and arresting their asses?

>>28789840
bs u need an id and bank account to fund it.

>>28801464
Switzerland will unironically end up as the Silicon valley of fintech. USA and even Chyna have super messed up crypto tax laws.

>>28809533
Hello retard, global rule #1

>>28809120
>losses are taxable
>gas fees are taxable
>air drops are taxable
>staking gains are taxable
yeah I'm wanting a government collapse

>>28785732
Lol absolute faggot

>>28785201
I haven't actually paid taxes on any of this yet, but I don't think it's as bad as you think. You pay taxes on gains only. If you swing to a new coin, the amount you traded becomes a new baseline investment. So if you made $1000 in a swap starting with say $500, you pay ~$450, and then if you make $8500 on that you pay ~$3825 so $4275 all up. Whereas if you had held the first coin and it somehow went up to $10000 you'd be paying ~$4275.

I think what can potentially fuck you is the fact that every swap is counted as income that can bump you up to a whole different tax bracket.

Can anyone tell me if this is a roughly accurate account of getting to $10000 from an initial $500 investment. I think it checks out

>>28809924
I think Estonia is also going to be big in fintech and it's cheaper to live/invest in than Switzerland. Plus you don't need to be surrounded by alpsniggers.

>>28810066
i think its, you started with 500. made 10k. so 9.5k gain. then 30-40% tax on that is like 2.9-3.5k. so either way your getting raped.

>>28809120

income is taxed higher than capital gains

>>28810245
You're I was going to 45% short term capitol gains . My point was, you're still getting fucked, but you're not getting fucked any worse. The only way to avoid entirely is to buy and hold and never sell, but I'm just starting out so I moved shit around to grow it where i could. 4x'd off swinging AVAX at the ATH into Iota at the base of its run - but then fucking sold the bottom and fomo'd back in yesterday so am up about 2.5x now. Oh well. never doing that again.