/biz/ - Business & Finance

Still more money than wageslaving if you pick good coins.

>>30018039
No one taxes 50% Retard

>>30018039
>cash out
>Government takes (your normal tax rate) x (50% of total gains)
You have some homework to do. The only way you're getting taxed anywhere near 50% of your gains is if you're already making 6fig+ to begin with, and in your OP scenario you're impoverished so you're fine.

>>30018206
You act like 30% isn't blatant fucking robbery.

How the fuck are you meant to show thousands of shitcoin trades when doing taxes?

>>30020098
Just dont.

"Fiat in, Fiat out" that's my motto. Keeps things nice and simple and the gov't still gets their cut. Say you lost your account history or something not like they can figure it out themselves

>>30018039
At least you didn't lose your job during the plandemic and turn to selling on eBay to make a living but then get a huge bill from the alphabet boys wanting 28% of every fucking Pokemon card you ever sold in minecraft.

>>30019995
Gender studies programs in the middle east cost a lot of money, goy. Stop complaining.

>>30018039
Capital gains tax is much lower than income tax until you're already rich. Not only that but it's bracketed, meaning you pay less for the lesser amounts and only more for the larger sums of gains.

>>30019995
It’s only 10% depending on the state

>>30020098
>>30020242
>they don't realize blockchain data is public and visible to everyone using an indexer

Any percent is robbery fuck that

>>30018039
Someone has to pay for those gibs just pay your fair share bro.

>>30020596
Either way I plan on using a crypto tax calculator and hopefully it'll take into consider all the NFTs I lost a ton of money on. I don't plan on checking the accuracy too indepth since im planning on paying capital gains tax on pretty much the entire amount of fiat I withdraw once I make it