/biz/ - Business & Finance

just buy one of those peeper things that scan for scanners

>>29913525
Who cares, just do your taxes

>>29913525
>over $10k
so like any other big transaction that already require (((approval)))?

>>29913525
>SORRY GOY, CANT HAVE YOU MAKIN TOO MONEY WITHOUT US GETTING A PIECE OF THAT ACTION!

>>29913525
Ahahahhaahah fuck you fags from 2015 who kept laughing at me for paying my taxes ever since. You retards are so fucking fucked now.

>>29913525
DR;NS

>>29913582
>just like submit bro
>if you have nothing to hide you have nothing to worry about!
>so just like submit to our financial domination, bro
>we own everything anyway, goy... why would you need to be FREE?
>why would you want to be free? everything you need is right here, goy
>what's that, goy? it's about principle and integrity?
>you don't want your kids sold on the black market? then you better get in line, goy.

yea lets just not forget the original purpose behind decentralized finance and economy...

>>29913824
It wasn’t to avoid tax

>>29913525
this is FINCEN.. no ruling has been made yet, so who knows if this will be implemented.

o say can you see.

>>29913525
this is good news mane

>>29913525
>https://www.wnd.com/2021/02/financial-regulators-biden-admin-launch-attack-digital-money/
this is a nothing burger
if you transfer cash in and out of your regulatory bank account it is already reported, now they just add another box to check after the red flagging
once you are in crypto itself they have no means to track you and prove you own the wallets without a doubt
and thinking that ofshore exchanges are going to give two fucks about reporting standards, just look at the whole tether lawsuit clownshow
so nothing really changed since yesterday

this is bearish for XMR

Withdraw in segments. Plan it out. Beat the system bloody

time to charge more in my local monero

>>29913525
>over 10k
Good. Doesn't effect my 9999$

Thank god i will never be American or in America.

>>29913525
The rising of the people from bottom to the top has got to stop, we have the bravery to legalize slavery.

>>29913525
There are many asian businesses around me that take BTC. This kind of persecution will just make people straight up use crypto as currency instead of 'cashing out'.

>>29913525
it means its over

One plane ticket to Singapore, please.

>>29914856
>implying they'll be satisfied with molesting realized gains.
You did pay taxes for your unrealized gains too?

>>29914856
Would you like to purchase some art?

>>29914952
>americans think they can escape the US tax system
your only option is puerto rico, sorry m8

>>29914796
structuring is illegal

>>29913525
>Banks
Thank god I run my own nodes for BTC and XMR

>>29913582
Excep that its taxed as a commodity when it should be taxed as a currency (i.e. not taxed)

>>29913525
This is why it's better to buy crypto stocks over actual crypto. Much less headaches and easier to deal with. They also moon harder than most coins (btc,eth,link,etc)
You just have to know the right stocks to buy. /smg/ is a good place to start for the nostonk fags

>>29913525
nothing for us, we weren't going to get away with hiding from the fed either way, this is just a fancy somewhat doomy way of saying "we're gonna enforce the same tax laws that have been around the whole time just reminding you". plus im guessing like 5 of you retards tops actually apes in/out more than $10k at a time.
it'd be nice if they used those advanced tools they use to track my investments to actually fucking just tell me how much tax i owe though, like if you're gonna take 30% of my gains at least make it easy

>>29915091
XMR and other privacy coins will become popular. 80 year old boomers can't win, they can't even use email correctly. They've lost because they're going to be dead soon and they're screeching and striking outwards trying to take everyone with them and just making themselves despised.

>>29915331
>when it should be taxed as a currency (i.e. not taxed)
currency trading is routinely taxed as capital gains

>XMR silently moons
Fuck kikes

>>29913525
BUY MONERO
U
Y

M
O
N
E
R
O

>>29915210
How so?

Meh I'm done reporting anything unless I ever decide to cash out. Checking no on the 1040 this year. Just gonna plead ignorance and if they come after me pay whatever they say they think I owe and the small penalty or jail time.

Even you people that have been doing everything 100% by the book aren't going to be safe if you're part of the .01% they decide to make an example of when they run their "highly advanced crypto tax progry" coded by pajeets making $15 an hour that say you owe them 6.9 million dollars.

>>29915356
Microstrategy. What else?

>>29913525
they already do that, you can’t cash out more than 10k without them sending a 1099

>>29915663
>owe 10M in taxes
>don't pay
>wait for hyperinflation to kick in
>pay 10oz of silver and be done with it

>>29915488
based

>>29913525
this is bullish for doge

>>29915702
Microstrat, Galaxy Digital, RIOT and MARA are the big ones.
HUT, BFARF, DMG, HIVE are the smaller ones with more volatility and higher returns
There is also chink shit like SOS and BTBT but they're harder to trust.
A company called MicroBT is about to IPO soon and they make miners. They're chinese as well but they are one of the main competitors to bitmain so it's easier to trust them
Just monitor the price action on the above stocks on a watchlist and you'll see that some of them outperform holding crypto by a longshot

>>29913525
Do max $9.99k transactions at a time
>prob solved
IS IT THAT FUCKING HARD FAGS?

>>29915775
This is another reason not to pay anything. It's either going to be worthless in a few years and it will all drop or be so much valuable than dollars they can charge you a full 2x penalty and it will be insignificant to the gains you made.

I'm just so jaded to everything I don't care anymore. If the government wants to throw me in jail they'll throw me in jail anyways. if they want to take my money they'll take my money. If I'm targeted I'll cooperate but I'm not wasting the time and energy to calculate everything.

>>29913525
oh fucking hell how much more punishments do we have to receive for being born into burgerland? I'm a newfag zoomer neet just trying to GET STARTED on crypto and these boomer faggots REFUSE to see a man make it in life

hold long term and don't sell.

>>29915942
Nice, thanks. Coinbase is about to IPO as well.

>>29913525
>its my life what I wanna do
>its my life what crypto I wanna buy
>its my life I lose all my money to shitcoin to
>its my life I buy all the highs I want to
>its my life I sell at lows all I want to
>people think I'm some hacker genius
>They dont know I'm very stupid and fall for memes
>My boss tells me I neglect promotions and raises
>My government see me and always bother even though I make no money on shitcoins
>I always search good coins in shitcoins
>I also search bad shitcoin in good
>I am a very good poorfag

>>29914192
It was to avoid surveillance

>>29913582
ask me how I know you get checks from the government

"It's the future money!!!!"

Even if you trade it between yourselves, businesses won't widely adopt it because of the regulatory burden and risk involved.

>exit taxes to leave
>documents reported to IRS
>bank watched and monitored
>surveillance state
>increasing taxes

Jeeze. Republicans please for the love of god give us a better candidate than TRUMP next time. If you have a single smart person who can articulate your viewpoint instead of spouting off memes in a deranged state, you will win.

>>29913525
this is gonna get hilarious when dollar hits real hyperinflation and you can't even buy a roll of toilet paper under 10k USD

>>29917009
I’m taxed for just having a secondary currency. It’s an investment now.

Bitcoin was never an investment. It’s a philosophy. I’m fine with paying taxes on it but now you’re telling me 45%? Fucking hell. What’s the use in even trying?

It’s just going to go to diversifying schools which will be deemed racist and force white kids to do common core because math is racist.

>>29915401
This they're taking my fucking money why the fuck do I have to put in the work to give it to them. It's almost insulting

Use monero. Problem solved.

>>29916950
>businesses won't widely adopt it because of the regulatory burden and risk involved.

That just shows there's room for companies who specialize in that.

>>29914748
It is bullish retard not bearish. More regulations for BTC = better for XMR

>>29914192
yea so why should anyone support niggers and their 20 nigglets or juanita and her 40 children with 3 different dads? (as opposed to ten with niggers)+
>>29916752
so what is the idea of ultimate transparency for these centralizing cucks then?

taxation of that just leads to knowing everything you're doing with it you fucking kike jew

>>29913525
P2P isn't a "crypto" transaction so if you want to stay under the radar you can do so easily

>>29915473
>80 year old boomers can't win, they can't even use email correctly

Where does this zoomer fantasy come from?
They guy who fucking invented email would have been 80 yo this year.

>>29913525
>Twitter article as source

>>29916950
I don't care what businesses adopt. If I can get better deals in defi than I do in the bank, I'll use defi. Simple as
And there will always be ways to get in and out of crypto, that's unbannable

>>29917035
lmao

Not a glow nigger. It's not worth the risk to me to dodge taxes. I'll pay the extortion money if it means I don't get harassed by our faggot government. Only thing to do is plot an escape

>>29913525
Real talk does this mean they are going to institute kyc checks forcing you to dox your wallet if you want to repay a usdc loan on aave?

>>29917253
Have you ever dealt with a boomer, son?

>>29914815
I came to the US about a decade ago from another 1st world country. I feel like I've been rugpulled. I fucked myself too since I am now a US citizen and uncle sam pretty much owns me.

>>29915401
>it'd be nice if they used those advanced tools they use to track my investments to actually fucking just tell me how much tax i owe though, like if you're gonna take 30% of my gains at least make it easy
As much as I hate taxes I agree with this statement. I didnt learn to he a CPA and the government puts the work on the taxpayer to report? Fuck that. With all the money the IRS is racking in and wants to be more greedy, they should make this system for us to report.

>>29913525
That explains this

(((Their))) system is collapsing and they know it, they are desperate and we are witnessing their death rattle. If you really want anonymous crypto use a burner phone and buy with paper jew dollars via crypto ATM’s literally nothing the ZOG can do about it.

>>29913525
They already have to report over 10k in a transaction.
This isnt new, all banks and credit unions do this and have been for years now.

>>29913582
>>29913606
>>29913725
Here we have some glowniggers trying to scare anons to pay their taxes so that Tyrone can feed his family courtesy of the US DEMOCRAT party

>>29915997
Exactly this, why submit when they supposedly used tax money to fund omnipresent surveillance

>>29917443
Eth won’t exist . Ave won’t exist. Stupid newfag

>>29917685
it's not a good sign if the government starts targetting crypto specifically.

>>29917381
>not a glow nigger

>>29917457
>irl rugpulled
kek

>>29917762
Ok? Enlighten me then big guy.

>>29913582
Kys slave, bend down and get fucked

>>29915331
>doesn't know what gains are or how they're taxed.

>>29913525
>Crypto transactions over 10k via bank
LOL, either they or I have no idea what's going on.

>>29913525
Burgers keep getting cucked over and over. Land of the free.

>>29917706
These statist dogs don't really give a shit about Tyrone. They get gibs or a paycheck from the government themselves.

It's rare for someone to bite the hand that feeds them.

>>29913525
HERE IT COMES

It's all so tiresome. I've been paying my taxes on profits and I feel like I'm still gonna get fucked over, aren't I?

>>29917706
You mean Lakeisha, anon. Tyrone left years ago

>>29915356
It's not just because you are a newfag, you don't even know why BTC was created, it was not that you can a fucking fund at your bank to pay 50% taxes, you should leave crypto you are better in stocks earning 3% a year with your cool funds

See u l8r binch

>>29917788
They dont have to, that is the thing. Laws were already on the books with the patriot act. My guess is someone wanted to "look strong" against finance abuse, but couldnt say the stock market.

Jails fuckin awesome, good weed, get drunk all the time, don't be dissin jail.

>>29915644
How do you think? The government is not stupid, they know that people with lots of money would think, "Oh, well, if transactions over a certain amount are flagged then I'll just do a bunch of small ones that are under the limit," so they made that a crime too.

>Structuring is the practice of executing financial transactions such as making bank deposits in a specific pattern, calculated to avoid triggering financial institutions to file reports required by law
>Section 5324 further provides that a violation of this provision may be punished by a fine or up to five years in prison, or both.

>>29913525

so you have other options:

>Luxemburg
>Switzerland
>Panama

>>29918050
It hurts bros

>>29918286
what is considered such a pattern and what is not?

>>29913582
The whole purpose of crypto is to circumvent the phoney fiat system that currently exists, therefore anyone who voluntarily pays taxes on their transactions is a spineless cuck.

>>29915978
Anon, I have 27 million in crypto...

>>29913525
No one will listen to this, but this was already a thing. Any transaction over 10k is reported even with cash. I've done hundreds of them now and not a single call, investigation (that I'm aware of), inquiry, nothing, besides the bank checking up a couple times and letting me know they were reporting it as per their duties.

>>29915942
doesnt square own a ton too? or is it pozzed cause its related to twitter or something?

>>29918515
27 million what? Zimbabwean dollars?
Nonce.

>>29913582
But Anon, taxation is theft.

>>29914856
You are such a fucking retard. Can't wait until you get audited and fucked over big time with fines.

>>29913525
>>29913582
This. They do the same thing with online metal dealers. If you buy 10k+ of gold they report the purchase to the feds. It's gay. It's unconstitutional. But hey its 2021 and people literally voted for a guy who puts pic related into a position to make health decisions.

>>29918391
You'd have to dyor to get the specifics but generally it just means that if you're planning to move large sums of money around, do it in one transaction rather than breaking it up into smaller ones.

>>29917305
If all you can do is trade it among yourselves then what value does it have?

>>29918825
>I can't wait until king jew takes "his" cut

Seethe harder, boomer.

>>29918720
Can't you simply bill the IRS for all taxes paid, just start and ltd, send them a bill for taxes paid, services rendered (such as paid taxes) and they're obligated to pay it in full. If you name your ltd. IRS, they have to pay taxes to you. This is ultimate weapon the FED doesn't want you to know of.

>>29919112
>just cope and give in, goy
shut up you tranny faggot IRS dick sucking nigger loving Jew

>>29917457
LOL you only go to the states to make some sweet, sweet Benjamins and then GTFO to a 1st world country of your choice that has a stable and preferably weaker currency than the dollar.

wait people tax evade on crypto?

>>29913525
so, just convert everything to some stable coin and get a debit card linked to your account?

>>29915289
redpill me on XMR nodes

>>29919112
>"people"

>>29913582
at the very least don't put every penny you have into crypto, because when crashes it's all ogre (when wallstreet niggers short it and cash out)

>>29919112
>Voted -_-

>>29921282
Pretty easy to run, if you just run the normal monero-gui application it starts one on your machine, keep in mind you'll need around 78GB to do so though
After that, it's just a matter of using the wallet on there to send/recieve XMR transactions
You can also setup a dedicated one on a server with monerod if you want to

>>29913525
My bank thinks I'm sending money to an offshore gambling site and I'm not telling them any different lol

>>29913525
OH SAY CAN YOU SEEEEEEEEE

>>29919124
Land of the free.

>>29919124
Fuck that! They need to prove you've done something wrong.

>>29913582
>Who cares, just do your taxes

>>29917887
>>29920452
The US has changed a lot for the worst this last decade. God help the burgers in the next if shit accelerates. The US will be second world tier in half a decade the way shit is going.

>>29916298
Underrated

>>29913582
>Who cares, just do your taxes
>It's only on capital gains

>Who cares, just tell the IRS your wallet addresses
>For an unrealized gains tax, it's pretty cheap

>Who cares, just use your government-issued BTC wallet
>They'll automatically withdraw your crypto tax so you don't have to do it yourself

This is how they rob you of everything.

>>29913525
lol looks like time is running out to cash out

>>29913582
the goverment is evil, pay them no taxes

>>29924013
KEK

>>29924013
>stahp it, mutts law is a dead meme!

>>29924838
The US is over. Pic related is how they determine whiteness.

just use stablecoins when you sell and do multiple transactions under $10000
simple as

>>29926945
>>29926945
and find yourself in federal court months later

>>29913525
So just make each transaction $9,999.99, problem solved.

>>29919124
Just renounce your citizenship if you make it, not worth it to stay here and pay cuck taxes.

>>29913525
>wnd
oh, look. it's fucking nothing

>>29913525
DUMP NOW, crypto is dead if uncle sam can track your every move.

>>29927191
>Israel's walls need to be 10 feet higher now, fellow citizen. I know you're not going to let them down. Do I need to remind you how much they've suffered by your go- I mean by the hands of oppressors?

>>29913582
no.

>>29913606
Yeah wtf we already have this law

>>29920407
>>29922649
>>29922941
You fags live pathetic lives. Nothing of substance and austic screetching. Congrats seriously.

>>29927054
just explain that you were swing trading tether

>>29913582

>>29918825
>buy Monero, doesn't matter if it's on KYC exchange
>send to personal wallet
>from wallet move to another exchange without KYC, use VPN
>exchange XMR for ETH, then trade shitcoins on Uniswap or do the yield farming
>make 7 figures profit
>return the initial Monero you bought on your wallet
>send it to KYC exchange, sell and pay tax on it
>congrats, now you just made 7 figures in untraceable crypto, and you can slowly cash out the yield farming rewards in cash peer to peer, or using crypto ATM's

>>29927468
Taxes.

>>29927191
Also, they make you pay a tax to give up your citizenship. If you're going to go all out, make sure you move to a non-extradition treaty country in minecraft of course.

it’s called the bank secrecy act and it has been around since 1970. The limit was also $10,000 back in 1970.

https://en.wikipedia.org/wiki/Bank_Secrecy_Act

https://wtfhappenedin1971.com/

>>29927534
I didn't screech you nigger

>>29917685
Depends on the bank, not all BSA officials are created equally.

>>29913525
>What does this mean for us, guys?

Not much.
Most of us arent putting huge money into crypto.
If we are lucky we bought long enough ago to be in a position to take huge money out if we wanted to.
But why would we ever want to sell our bitcoin for garbage fiat?
Maybe to buy a car and a house I guess.
If you want to buy a car, a house, or a yacht, suck it up and pay the tax man.
You arent going to be able to hide that anyway.
But other than that, our bitcoin is just going to stay bitcoin until we USE it some day.
No intermediary bank involved.

>>29913582
taxation is antihuman

>>29914805
What's fucked is that consistently moving just under $10k (at least with USD) is a serious criminal offense. It's called "structuring", they assume that you were trying to avoid the policy that requires banks to report transfers of over $10k. Land of the free.

>>29913582

How about we just execute all the reporters and government workers instead?

>>29918068
>newfag
Been mining since 2013 and bought ETH at launch
>Don't know why BTC was created
I do anon, but I also prefer wealth over this ideology. Only here to make money
>50% tax
If you're paying this much then you aren't gonna make it anyway. I personally don't know any investr paying that amount. 15% max

>>29918051

You are a slave for the pelosis and schumers of the world.

>>29919112

Yeah that never happened. Tnis is crowder visiting addresses from the public voter rolls.

https://m.youtube.com/watch?v=iNGf7XYtU2Q

>>29913525
Cool. So good luck getting those crypto safe haven countries to comply with that.
USD is finished.

>>29917457
Just renounce your citizenship then.

>>29914748
Everything is bullish for XMR in the fucking clownworld

>>29913525
WHY IS IT ALWAYS USA

WHY WHY WHY WHY WHY WHY WHY

>mine a tiny bit of crypto
>write off new computer parts for my bing bing wahoos as self-employment losses and business expenses
>pay less in taxes

>>29928306
now you know why i hate white people

t. blackanon

>>29929379
based