/biz/ - Business & Finance

you'd be taxed either way

USDC or Dai

>>29443961
>>29443961
thats sad to be you

>>29443961
you only get taxed when u cash out to fiat to ur bank account, noob

>>29443961
You're a retard for falling for the tax memes. You're getting taxed either way, whether now, an audit in 2 years, or going to jail for fraud in 10

use USDC you fucking tard

>>29443961
>$USDC
>$DAI

Both of those are 1-to-1 USD coins that aren't based on fraud.

>>29443961
convert entire stack into XMR, hodl

No no, dont sell, thats what they want you to do before they pump it

>>29444191
Usdc is same as tether scam backed by shitcoins. Paxos and Gemini stable coins are legit

Stop being a faggot and go all in BTC to not bleed in sat

I'm holding only because everytime I sell it always pumps back up
I won't be taken advantage of this time

>>29444399
but what if it doesnt pump up this time? we cant keep winning for ever desu

>>29444890
we're at war against the chinese. they're going to pump it anon. just tether up and get up early tomorrow.

>>29443961
sell below your initial investment and you'll avoid all tax.

>>29444119
>or going to jail for fraud in 10
they just steal all your assets and garnish your wages, no big deal

>>29444114
not for burgers, you get taxed just for transferring crypto

>>29444114
In the US all trades are taxable events.

>>29443961
Shut your computer off and come back in a few days. If you sell now you deserve to be poor.

>>29443998
yea OP is retarded, also you're supposed to sell BEFORE the dump fucking nufags

>>29444890
I think we can for a while still. This is the ultimate meme money, and fiat has to implode sooner or later

>>29443961
Usdc?

>>29445112
that's false how the fuck did you come to that conclusion, if you trade it for another coin is when it's taxable.

>>29445251
>USDT
>USDC
>DAI

These are all considered "coins", and taxable events.

>t.brainlet

>>29445251
Wrong. The way burger crypto taxes work are:
1) I buy BTC/ETC/whatever with my USD
2) I swap what I bought in (1) for a shitcoin
3) I swap my shitcoin to ETH/USDC/tether/whatever
4) I cash out

Going from 1) --> 2), 2) --> 3), and 3) --> 4) are all taxable events

>>29445450
Isnt the US supposed to be a good place to live because of low taxes

Im Brazilian

>>29444228
This
Increase the value of my stack plebs

>>29444228
This but convert to USD first because Monero is going back to 60 bucks

USDC nigger what are you retarded. there are plenty of stable coin options.

>>29445427
yeah you going to report a "taxable event" if you do it on a non kyc exchange like uniswap really? lol just convert back to what you originally brought when you transfer back to coinbase or whatever.

YOUD OWE TAXES IF YOU TETHERED AS WELL :)

>>29445562

"Good America" is gone. We're 2nd world and Collapsing fast

>>29445712
Yeah somethings fishy about this guy

>>29445712
>transfer 30 eth out of coinbase
>transfer 300 eth back in
>haha idk it just grew

retard.

>>29444980
How early are we talking here?

>>29445836
i dont think the AI is sophisticated enough yet dude, it would be like self reporting cash income from your grandma or something

>>29443961
Low-IQ niggers
Buy silver with crypto
Sell silver back in $5000 increments as needed
Wow, no taxes

>>29445960
don't ask me. im a retard lol.

it could be a bear market, ask people know their TA, could be chinese whales.

>>29443961
Apmex sells gold coins for crypto. Cash out into something that isn’t worthless.

>>29443961
>>29445231
>gulps
>burps
nuthin personal kid

>>29443961
>Can't tether up because it's about the implode
This is terrible fud

BUY DAI ! soon THETHER WILL COLLAPSE AND DAI WILL DO 2X

>>29445450
Are all these events easy to track on something like coinbase? If I buy and sell coins constantly is it going to tax me to death or just create separate events that don’t really matter?

>>29445562

nah, the u.s. is really no different from any other country these days.

- we have big government (5 trillion dollar budget for 140 million tax payers, which is 35K of government spending per tax payer)
- high taxes when you combine all the different kinds (local/state/federal income tax, payroll tax, sales tax, gas tax, vehicle taxes, property tax, capital gains tax, etc.)
- debt based fiat paper money to finance it all
- diminishing rights (calling a man a man is now hate speech, being white means being guilty of oppression, etc.)

gun rights are one of the few remaining distinctions from the rest of the world.

>>29446069
>AI
nigger the exchange has record of every transaction you have made, they will send the excel sheet to IRS and that's it.

>>29446892
Can I also request this record of every exchange or do I need to track everything myself and send it in hoping I don’t make a mistake?

>>29446069
>i dont think the AI is sophisticated enough yet dude

>>29443961
Buy RSV or USDC :)

what are the odds of getting in trouble for not paying crypto tax?

>>29447649
How does the IRS sending you a gigantic bill for those taxes + interest sound?

>>29447836
again, what are the odds of that even happening? There's 300+ mil people in the US. how will they know?

>>29447168
your transaction history should be visible on the exchange. if not send them an email, get in contact with them ask for it idk.
there was similar thread today some anon wrote that he hired an accountant to keep a ledger for him. you might consider that. I don't know the exacts but look into it, don't get raped in the ass.

>>29447649
I think there are people who gotten letters from IRS on 4chink.