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30440166 No.30440166 [Reply] [Original]

>Be me
>Invest all my fiat in BTC under $1000
>Now have a few million in BTC and ETH
>Cash out 52.4k every year as a neet (quit my job)
>12.4k standard deduction + 40k long term capital gains at 0% (pic related)
>Literally never have to work again
>Considering marrying so I can cash out twice as much every year

>Be wagie
>Spend hours getting yelled at by shekelburg
>Make $52.4k a year before tax
>12.4% goes to boomers for social security
>Another 12% goes to income tax for blowing up brown kids in the middle east
>Literally pay over 10k in taxes

The Amerifat tax system is extremely based. Fuck wagies.

>> No.30440235

>>30440166
this is the way of a true giga chad

>> No.30440398

>>30440166
Wait, so any withdrawal of a long term investment under $40,400 is basically not taxable? Why is the 12.4K deducted ?

>> No.30440595

>>30440398
Every burger gets 12.4k off their income for free. it's called the standard deduction. so 12.4k of my 52.4k gains are tax free already. then i can sell 40k worth of btc for free and i won't have to pay taxes on it. I should open a traditional IRA and HSA too so I can sell some more BTC and put it in the stock market for diversification and not pay taxes. I'm also probably going to buy a house soon and the mortgage payments are also deductible. I am never paying taxes ever again.

>> No.30440759

I kneel. I didn't buy, my picks all suck, and I'm gonna be working all my life. But I'm glad you got out

>> No.30441033
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30441033

>>30440166
Yeah, it's fine if you're a frugal bachelor who just wants freedom over your own time and nothing else, but if you want to actually enjoy your wealth and build a family/legacy you will hit the higher brackets very easily.

>> No.30441201

Yeah bro get married and have some kids. You made it congrats

>> No.30441556

>>30440595
Nice anon. So are you still holding the amount in BTC or did you tether up to stay on the safe side of things ?

>> No.30443033

>>30441556
crypto to crypto is taxable so I won't tether up. not tethering up has also made me tons of money.