/biz/ - Business & Finance

>move to a country that doesn't tax crypto
>cash out
>go back to America
>???
>profit

>>5143834

Move to a U.S. territory which has no federal taxes and small territorial taxes.

Live there for a year and claim residency.

Cash out ur mad gainz at some low tax.

Move back to home state.

>>5143834
Cash out only small amounts, nobody cares about small amounts. Put everything else into monero. When and if crypto wins, you don't have to care about fiat anymore.

>>5143917
>tfw everything crashes while you're there and you're stuck weaving sandals for 10 hours a day just to buy a sandwich

>>5143955
lol this guy knows his US territories.

>>5143834
I've never cashed out through an exchange. Think outside the box, anon.

>>5143975
>have to break the law to not be extorted.

The US is creating criminals from thin air.

>>5143834
THEY DONT WANT US TO WIN

And will probably waste those earnings on something dumb like a mahogany table their mate john made for $8000 for the new Government office

>>5143834
how did you come to 52%?

>>5144075
He hasn't held the BTC for more than 1 year so it's being taxed as regular income, and he's in a high tax bracket and lives in a state with high state income tax like CA.

>>5144075
Federal tax of 40%, state tax of 12%.

The American dream is dead.

>>5143834
Get busy having some kids for sweet tax deductions. Daddy Trump is increasing the child tax credit.

>>5144108
Should have moved to Texas. Cost of living is cheap as fuck and no state income tax.

>>5143975
This. I plan on selling everything for BTC then selling the BTC on localbitcoins when I cash out. How can they stop this if there's no record of the exchange sending fiat to my bank? I could just tell them I lost my private keys and no longer have access to the coins and they would be none the wiser.

>>5144147
you're gonna keep your millions under your mattress or your sock?

>>5144147
>I could just tell them I lost my private keys and no longer have access to the coins and they would be none the wiser.

Go get them girl, nothing can go wrong at all

>>5144118
It's what /biz/ wanted all along anyway.

>>5143955
I think this was the premise to Sorcerer

>>5144305
bank locker

>>5144334
the only thing that can go wrong is the government ever seeing a penny

I really dont understand why you guys actually want to cash out??
give me 1 reason you dont believe cryptocurrency is safer than the dollar long term

>>5144334
I also don't live in cuckmerica so they probably aren't as strict here.

>>5144430
even """"""socialist""""" europe has lower tax then 52% wtf

>>5144108
sorry. US seems horrible for tax treatment of short-term capital gains.

>>5144578
I thought the American system was all about low taxes and no socialist style hand outs ie everyone is on their own, yet they charge more tax than the socialist European countries that actually take care of their citizens? I guess it's all just to fund the military and to bail out banks.

>>5144338
DELET THIS

>>5144650
in UK for example, the marginal income tax rate on a lower middle class salary is 40%, but the first $14500 or so of capital gains is tax exempt and above that you pay 20%. that said, i won't be surprised if crypto trading profits get reclassified as subject to income tax.

>>5143834
If you making huge bank
why not just do it like all the other richies do.
I mean BTC has worldiwde liquidity.

Just like cashout and set up an account in the caymans or whatevs, and move your liquid into said account.

then get a card issued by bank, or whatever.
By a boat and live in the caymans or Boca or whotefuckgivesashitman

>>5144799
US citizens, regardless of residence, have to report all non-US accounts by law (FATCA) with a penalty equal to approximately all your money.

in the last couple years, non-US banks also started reporting information on account holders with US nationality to the IRS. many have started refusing to open accounts for Americans due to the reporting requirements.

>>5144108
What the fuck? How do we get out of here

>>5145024
there is no escape from mr bones wild ride

Anyone cashed out in Australia?
Wondering what the process is like and the taxes.

>>5145024
buy gold and silver with crypto
sell those

>>5143834
Im having great keks at this
Do you faggots even get it?
Gov politbyro idiotic as always.
If govs would like to lure people back into paper money, they would NOT tax crypto and people would cash out and fuel the fiat economy. Crypto would plummet eventually.
BUT
These idiots tax cashouts at 52%
Guess what, even the last normie will rather hodl or accumulate and drain the fiat even further.
Fiat is finished.

>>5144108

>>5144108

wtf

this is communism

what happened to old good america

>>5145217
Bumperino pretty sure there’s no way out unless offshore

>>5143834
Taxes are theft. This is why we made crypto in the first place! You're not meant to cash out, moron.

>>5145325
Unironically this. I just found out that I'm liable for Income tax, not cgt, because I'm not a retard hodler.

I've hit 120K now, I'm a med student. They look at my trades and find that indicative of "career" level money. Fucking bullshit.

I'm literally just not going to cash out. If I have to give away 48% of my gains, I will spend 47.999% on avoiding that. Fucking hate them.

Oh hey, yeah great job saving up money from yoru aprt time work in med school. Oh you're trying to make a living? Why don't you take one the handy loans so you can stay in debt to us forever? Oh you're good at trading so you dont need to..hmmm.....we'll take half so."

>>5145978
>>5145217
https://www.ato.gov.au/General/Gen/Tax-treatment-of-crypto-currencies-in-Australia---specifically-bitcoin/

TL:DR you pay capital gains tax on it, just like any other capital investments

>>5143834

thank god I live in a third world shithole government doesn't care or even know crypto and no check on bank accounts kek

>>5143834
>cashing out, instead of simply using BTC....
ya dun goof'd

I have to pay 10% and I'm pissed, lol, westerncucks are beyond salvation

>>5144108

bump

>>5144108
>Federal tax of 40%, state tax of 12%.
The fuck? I live in fucking SWEDEN of all places and the CGT is 30%.

Wait a sec, so if I cash out before 1 year I have to pay 40% of my gains to the federal government on top of 12% if I live in a communist shithole state?

That's about enough to make 1776 commence again

>>5144578
yeah
we don't want you to become a millionaire in a under year entirely through speculation
sorry!

>>5144020
>And will probably waste those earnings on something dumb like a mahogany table their mate john made for $8000 for the new Government office
Nah, it'll be used on EBT and section 8 housing for worthless niggers and illegal immigrants. When will fucking welfare be ended?

Uhhh yeah sure we're all paying taxes

>>5147474
I wouldn't be nearly as butt hurt about paying taxes if the money wasn't going to be flushed down the fucking toilet like this. It would be more useful to just use my $100 bills in taxes as toilet paper.

But can't I just send to a bank account on a third world country were they don't need nor give explanations?

>>5143834
Buy gold, sell gold. Tell the gov to fuck off.

>>5143955
You can cash out on coinbase into cash without withdrawing you know.

Littlr bittt babies finally learning how fucked up US taxation is

Why the FUCK u think crypto is so popular?

Oldfags have been angry about this shit for YEARS

>finally hit 1 mil in gains
>wait its 500k
>unironically have to hold (risk) a year to discount cap gains

Monero faggots. Will save u from divorce rape too if ur smarr

>>5147721
Damn thet struck me
Crypto will be even bigger
Hodlers 97% males
In this system :
Invest 100k, get 1M gains
- 52% uncle sam
480k gains
divorce - another 50%
240k
oh also lawyer
200k
B-but judge he made a mil last year
Child support 10k / month
-120k the next year
Now down to 80k from 100k despite making 10x gains. Broke in 8 months.

> tfw when you’re 3rd world cesspool has not come up with a clear legislation regarding crypto and you decide if you wanna report it on your tax statement or not, in which case it’d be taxed as regular income at a rate of 13%. Feels good senpai, pls don’t wake me up.
If they regulate it though, and start treating it as capital gains, the tax rate would be 33% though

Let me tell you something, we haven't even begun to peak. And when we do peak, you'll know. Because we're gonna peak so hard that everybody in crypto's gonna feel it

Rich people are putting their money on crypto to avoid taxes, if enough rich people do this the government will start feeling the heat and will have to compromise eventually, hang on don't sell.

>>5147474
>>5147538

That money is going to the army so they can make some lousy deal with a contractor to pay for extremely overpriced weapons that will rot in some basement, niggers don't get shit you retards.

>>5147695
Now I wonder,
What is the max coinbase will hold for you?

>>5148561
>niggers don't get shit you retards.
>the money for niggers, spics, and feminist propaganda just materializes out of thin air

Obama's slush funds literally gave all these leftist cultists billions if not trillions over the years, vast majority of that money was tax money. If you ever wondered why it got so bad in the last 10 years, there's your answer.

>>5147721
btc was created by the cia to get normalfags to pump money into the gov? the coin moons, they tax it at 40/12. this is starting to seem extremely jewish. i try to tell myself that this isn't a scheme created after the bank bailouts to get us to foot more of the bill and fuck us further. do you really think tptb wont tank this shit. putting your life savings into btc is literal slavery. go with iras. you guys are acting like women: something for nothing.

>>5148637
>Obama's slush funds literally gave all these leftist cultists billions if not trillions over the years, vast majority of that money was tax money.

Prove it

>>5146025
Tfw it’s a taxable event every time you trade even for an altcoin

>>5148908
This. We're all technically criminals evading taxes for not paying up our jew gold.

>>5143879
>go back to America

>>5143834

>paying taxes

>>5147970
You can cash out to an exchange, wait out the time, then transfer it out.

Also capital gains are not income so they should not affect alimony/child support, you'd be able to fight it.

>>5145976
The minority tax is VERY real.

>>5144399
>inability to defer gratification
it's literal nigger mentality

>>5148908
Bullshit. They don't do that for stocks, only when you move it out of the investment account - why would this be different?

>>5144108

>>5144399
Speculatory bubble.
Banned by Jews.

>>5149581
What Im sayin, is that how can a sane person go back to fiat, and how can a normie NOT enter the crypto.

so glad i never bought through an exchange that has my personal details recorded somewhere

>>5144118
>Get busy having some kids for sweet tax deductions.
If Amerca's economic disaster happens in your lifetime, you will be fucked.

>>5144399
i need it to pay my short term bills, and apartment company doesnt take BTC yet

>>5149652
>why would the kikes in the government want to suck every last shekel they can out of the goyim?

>>5144118
Sounds great. White people need to be incentivized to have more kids because they're currently being retards.

>>5147970
>live in canada, get taxed at 15% instead
850,000
>never get married without a prenup because I'm not retarded
850,000
>vacation in europe for a full year while daytrading crypto
2,400,000

>>5150023
So why not for stocks too? Way more money there.

>>5147970
Im glad someone sees this, ive been pretty sure for a while that bitcoin was infact thought up by goverment to get peoples savings into their own coffers.

Think about it, they cant lose, they produce a good, you buy it they profit from sale, you sell it they profit thru tax, all theu have to do is keep up hype for as long as possible. Either way they are profiting. Something else to think about aswell is this, crypto is to fiat now as fiat was to gold while it was backed by gold.

>>5143941
XMR is mooning atm - it's gonna drop

>>5143834
>52%
In Germany if you cash out your gains after one year of hodling crypto then you won't be taxed. If you cashout earlier then
the tax is 25%.

>inb4 cuck, 4th reich, germanistan etc

>>5150129
How does prenups in Canada hold up. It is a huge meme in burgerland as if a Judge doesn't like it they can throw it out saying it is unfair.

>>5145976
If you want lower taxes, you have no choice but to physically remove non-whites. They all overwhelmingly vote for this socialist/communist bull shit because they are inferior and cannot compete with the white man.

>>5150155
No it's not, BTC is going down.

>>5143834
Would it be a dumb idea to purchase gift cards with BTC and slowly just save by purchasing everything with the gift cards?

>>5143834
Mate I'm paying capital gains tax on my (small) gains

It's either that or renounce your US citizenship

>>5150223
No, it's still taxable if you trade for goods and services as barter. If they catch it and think you did it to evade taxation they'll fuck you good.

>>5148705
>>5148561
>niggers don't get anything
Then how are they not starving to death?

>>5149699
>Tax rates were better under Obama

>>5145024
Use crypto for its intended purposes i.e. use buttcoin to buy stuff.

>>5150205
law is the law, if a judge tried to throw it out I'd sue their asses, you can't just 'throw something out' lol you would need a specific and valid reason that the prenup wasn't valid, basically the only things that I can think of that would work would be proof that she was forced to sign with threat of violence/or that she signed it drunk, but burden of proof would be on her

>>5144933
Is holding an American nationality the most cucked thing ever?

>>5150206
>They all overwhelmingly vote for this socialist/communist bull shit because they are inferior and cannot compete with the white man.

Yeah, Delaware and Washington are known for their socialist communist bull shit taxes

>>5144472
The absolute state of my country is disgusting.
>fuck socialism, we don't need government programs so no public healthcare or education
>we need all your fucking money so give us more than socialist countries demand
FUCKING PICK ONE AND ONLY ONE YOU FUCKING KIKES, PREFERABLY THE FIRST. Land of the free my ass.

>>5144338
That girl on the right is not a qt though, nor do I want a highly expensive car.

>>5144578
>short-term capital gains.

Most of of my gains are long term.
But if you have short term couldn't you just put your crypto into something stable like gold for a year, then withdraw on it as long term.

Also, arbitrage tax sucks for stocks. Is there an arbitrage tax in crypto? How could they even track that shit if they wanted to enforce it?

>>5150205
There is no fucking way the state of prenups is not worse in Canada than the US.

>Japan
>No Bitcoin Tax
>Thousands of Stores to Accept the Cryptocurrency

Seriously, if you're posting on weabu-chan's /biz/ and looking for a tax free exit strategy and don't want this then go back to rebbit!

>>5150141
It is the same. 1) where are you even seeing stock/stock trading pairs? they're traded against fiat 2) if you did exchange a stock for a stock you would owe based on the fiat values of the shares. it would be a barter exchange, exactly like trading alts

>>5150522
>stores in japan to accept crypto
>buy $20 shirt
>pay $45 in tx fees
Th-thanks.

Excuse the ignorance, but would there be the same problems, tax-wise, if you were to trade your BTC for ETH and cashed out that way?

>>5149652
They do it for stocks as well dumbass, that's why you get sent a 1099-B every year.

>>5144108
Wew, as I understand it for the UK, CGT will be 10% for the first 30k, then 20% for the rest. Less if you have other forms of income.


As long as you didn't trade too much and have to pay income tax on it instead.

>>5143834
Lmao and they say the US is shit ! The most they can tax you for capital gains is 20% if you make past 500k and then you can still say that you're using those gains for a bussines or something and buy yourself cars, computers, tablets, phones shit like that and say it's all for the bussines boom tax boys are happy.
I was hearing Spain has a 40% capital gain tax what a bunch of cucks joder

>>5150382
Prenups are often dismissed because you can't sign away your rights easily, and a right to retain your accustomed quality of life is upheld in many places. This is because it is typical for parties in a marriage usually get rid of things that would double up so one party would have nothing, and because men are still expected to provide for their wife regardless of her own earning abilities. There have even been a few cases where the man has paid support to a woman who earned more than him to retain her QoL.
>proof that she was forced to sign with threat of violence
"I felt coerced into signing as I thought he would break up with me if I didn't sign."
"I was worried he wouldn't love me if I didn't and that would made me emotionally stressed and depressed so I wasn't in my right mind."

Easy

>>5150399
>Land of the free to fuck my ass
FTFY
also, this is why /pol/ exists

>>5150643
Actually forgot the first 11k is exempt from any CGT, and if you have a spouse you can gift them 11k p.a tax free

>>5150422
Turning crypto into metals is a transfer so you'd get taxed on the gain at that point if they caught it

>>5150544
Convert to Monacoin and buy with it.

This fucking guy isn't paying 40% fed tax in the US

>>5150536
Not in Canada, I just checked with my bank last night as I sold a bunch of my stocks but left the money in the trading account.

Just create an lcc and pay the corporate tax

>>5143834
open a company in a tax haven somewhere, put up your gains as initial capital. instead of giving yourself salaries borrow from yourself and not pay back.

>>5150811
Llc*

Money in trading account == fiat == cashed out

>>5146089
>thank god I live in a third world shithole

>>5150791
Tax rate if you made over $418k is 39.6%, rounds up to 40%.

>>5143834
>earnings...

>>5150711
>a right to retain your accustomed quality of life
What if the man is accustomed to having dinner made for him and his dick sucked at least once a week? What part of the divorce proceedings guarantees that he is able to retain his quality of life?

>>5144108
>mfw my state charges a flat 3.1% on capital gains
>federal tax bracket puts me at 15% cgt
>mfw i don't even fucking care cause i didn't work for this money

>>5148561
ISIS seems to be using the weapons just fine.

>>5150927
Doesn't matter. Courts usually consider that women enter a marriage having given up everything they had beforehand, it's a holdover from the days when women couldn't hold property.
Men have to split the marriage's possessions so the women have something when it's over, and need to provide for them so they have incentive to not just kick someone to the curb to burden the state.

All of this ignores the reason for the breakup and who initiated proceedings of course, can't have a woman who decided she wants out just because not getting her reward.

>>5144108

>>5150957
>NEET
>don't have to pay a cent as long as I cash out under 40k a year

>>5144108
>>5151132

>>5143955

Fucking kek

>>5151148
That only applies to longterm capital gains.

>mfw will pay max ~25% on my capital gains

Canada does something right for once.

>>5144108

Don’t forget your tax penalty for not buying private health insurance like you’re legally required to do!

>>5151177
I fail to see why anyone would withdraw any reasonable amount.
The fuck are you not hodling for.

>>5150619
Yes

>tfw lost way more money than I gained so only owe ~$300 in taxes
take THAT jews

>>5144399
i'm using it as retirement savings and plan to hold for 30 years or so, unless something moon's and i make it to lamboland overnight

I moved recently to switzerland.
I don't know if they are going to check up. But either i pay 0.35% as a general capital tax or they'll ask for my trades and might categorize me as a professional in which case I'll pay normal income tax (about 30%). Fucking stresses me out a bit and has already cost me a fortune by hodling stupid shit for too long.

>>5151221
Crypto to crypto trades are still a taxable event and the exchanges are going to cooperate with reporting. If you don't pay taxes appropriately you'll end up getting locked out of trading and likely lose more money than if you'd just paid the taxes.

>>5151385

Source required.

>>5143834
>tfw even here in canuckstan we have lower capital gains tax than (((America)))

>Paying taxes

Bunch of fucking squares in here

>>5144399
because there isn't yet a private coin that i can spend everywhere

>tfw will pay nothing to gov after cashing out
South America is the land of the free.

>>5143879
>going back to America
Why the fuck would anyone want to live here, if I could I would've moved to fucking Sudan over this shitty country

>>5144147
There was allegedly a crackdown on b local btc sellers. Be very very weary

>>5151483
you should go to Sudan then

>>5150894
Thats not how you calculate taxes in burgerstan you dumb fuck. The 40% only applies to the money you made above the last tax tier

>>5151478
ayyy, I come from a third world shithole in north africa and I can go to Brazil without a visa with my passport. Do you think it will be a good idea to cashout my crypto there then transfer it to whatever bank I want?

>>5151478
South America is my plan.

>>5151407
Really getting tired of stupid niggers like you who do zero research and then are shocked by things they should already know and expect others to spoonfeed them.
>IRS treats it as property
https://www.irs.gov/pub/irs-drop/n-14-21.pdf
>bartering property is taxed
https://www.irs.gov/taxtopics/tc420

>B-But most barter goes unreported.
Most barter trades are not on a record being handed over by exchanges.

>more normies join crypto
>millions of people making gainz
>they all hodl or refuse to pay taxes
Not only will that be impossible for the IRS to try to get everyone, especially with the new tax bill which will have them working overtime, if nobody cashes out then they can't tax anyone.

>>5143834
I'm Canadian with polish citizenship. If I want to cash out and Poland and pay the 19%, will I only be allowed to if I've lived in Poland for the last year or What?

>>5151525
>muh marginal tax rates
Doesn't matter that its not on ALL of it, he's still paying 40% taxes on a large chunk of his money.

>>5151620
Also, why doesn't the government reimburse me for taxes if I cash out at a loss?

>>5151463
yet

>>5150206
This, If only every white man would kill a minority one day.

>>5151660
it does
losses offset gains, and losses over a certain limit can be carried over to the next year

>>5151650
fuck off we're full

>>5144108

>>5143834
You have 2 options:
1. Sell for cash on localbitcoin
2. Exchange for Monero

>>5144108
>>5152067

>>5144338
What /biz/ actually thinks. Who's with me? Taxation is theft.

So..what are the chances of getting caught for cashing out say 10k?

>>5152133
It is. You basically have to 2x or you're in the hole.

>>5147307
40%+12% is only for short term capital gains. If they hold for more than 12mo its like 12% only or some shit.

Also swefag btw, but hey we got that sweet ass ISK and XBT if you know what im sayin, 2,5% tax baby!

>>5152174
Why would you have to 2x? You only get taxed on gains. I think there is no situation where you would be profitable without taxes but negative with taxes.

>>5144759
Shekel counter here, capital gains allowance is £11,300

>>5152215
that's really fucking steep though.

I spent 85 dollars on btc in 2013 and if I were to sell right now the government would take 4 grand.

For 4 grand I could fly to cancun, stay there for a week and fuck two girls at once with no condom at the pleasure principle brothel for 2 straight nights.

Daily reminder that Hillary Clinton wanted to extend the short term capital gains tax rate to SIX YEARS. She called it "muh Wall Street Tax" - even though it applies to everyone and not just Wall street.
Google "Hillary Clinton capital gains tax plan" if you don't believe me.
Daily reminder that Democrats hate middle class Americans achieving wealth and that if you are not a welfare leach and vote for a Democrat, you are voting to have your money taken away from you.

>>5152335
and they don't see that.

Half of the democrats on the Internet are talking about how Republicans are the poor ones. We're the hillbillies that live in poverty.

Not the fucking million + sitting in the city ghettos working at mcdonald's and bitching that they aren't making a livable salary with their highschooler job.

>>5152335
>democrats owned by banks
>banks want people to be poor
not much of a surprise

>>5149699
You realize this, give money to niggers, take care of the niggers, nigger is the reason your taxes have increased right?

>>5150419
>not a qt
Get a load of this guy

>>5143834
Just stay in crypto man, postphone it.

>>5152335

So let me get this straight guys, if I postpone selling out for a year, I will get to keep a larger amount of my cash?

Does this apply to all crypto or just crypto I've actively held for a year?

And why the fuck is this even a thing. Why should the state give a single shit whether I've invested in something for a while or not.

>>5153018

what if I just dont pay the tax?

>>5144399
B-but its backing is the faith in the US $$$$

>>5145315
Really, there's no record of this transaction?

>>5153018
It depends on what tax bracket you are in, but yes, you will keep more money if you hold. This applies to all assets subject to capital gains taxes: stocks, bonds, real estate, cryptocurrencies.

It's a thing because politicians convince Americans (most of whom don't have a single cent saved) that "speculators" ruin the economy. For a low IQ individual, they think only big bad wall street invests at the expense of everyone else, and therefore taxing them is good.

What really ends up happening is that Wall Street still makes billions of dollars, accountants make a fuckload of money since our tax plan is so fucking complicated, and middle class americans who want to cashout on a successful investment get fucked.

>>5151483

Amazon Prime ? Mcd ?

no one get's the concept of "Paid in Kind?" Really?

>>5153353
And I forgot to add: This is all intentional. The people in power WANT Americans to stay poor.

>>5153318
yep. might be some kind of conspiracy, but you can buy 10.5 btc worth of gold from apmex.com right now, without filling out who you are or anything.

>>5144933
>have to pay 600k to renounce amerishit title

TOPPUKEKKU

>>5153361
USA is still BEST SA.

>>5144108
I wonder what the kikes are saving up for

>>5143834
Holy shit I'm happy to live in Canada. That's fucking terrible. Also incredibly ironic that we're the socialist nightmare that American right-wingers warn people about and our capital gains tax is half of yours, goddamn.

>>5151207
top keke this is literally me

Please tell me whats the best way to minimize giving shekels to the taxman without being thrown in jail

>>5153728
Find buyers in local forums
Set up a meeting in a public area to avoid getting shanked

>>5143834
yes goyim good job on these gains

>>5144143
40% federal is still fucking gay

>>5151385
No they aren't. Only if you're moving in and out of fiat and only if you end up with more fiat out than you put in.

>>5153422
Then how the fuck do they know who owns the gold

>>5151463
Right now I could buy a car and house with bitcoin, straight bitcoin not exchange.

That's good enough for me.

>>5153422
Might aswell send 10.5 BTC to my ethereum adress

>>5153872
If you can buy a NICE house that you'd never want to sell you should do so. Potential gains are nothing when compared to securing a nice place to live, especially when you could end up in the toilet.

>>5153918
You have to report your gains if you do. The moment you buy the house the taxman will slap you in the face. You also will have to worry paying property tax. Most of the NEETs on this board who hold large amount of coins can truly never cash out without losing a large chunk of their wealth.

Buy gold with coin. Sell gold for money. Fuck tax man in ass

>>5154011
Better to never buy anything, ever. That'll show the IRS.

>paying taxes

You guys realize he's not talking about capital gains tax, right?

>>5154014
sure fire way to get absolutely fucked

newsflash retards, the IRS does not play around

>>5154079
What's the problem with his plan?

>tfw hold all my my investment in GBTC etf inside Roth IRA for sweet, succulent tax-free growth
I don't care about holding actual BTC in a wallet

>>5143834
So then don't give the government your money? Seems pretty simple of a solution. The feds are "entitled" to throw me in jail for dropping acid but they can go fuck themselves.

Why the fuck would you cash out?

>>5153410
Part of my growing up was me realizing that all the awful shit in the world was actually extremely calculated.

>>5143879
>go back to America
>buy lambo with your new money
>IRS : hello sirs how r you how did u get this monies?
>uhhhhh
>jail
>le 56% face

>>5144108
Move to Texas. No state income tax. That’s a little better at least.

>>5144108
Also, wait a year and a day before you cash out.

>>5154139
Gbtc lnaoooooooooooo enjoy paying 66k per btc equivalent

>>5154486
Tfw success is a crime
>Land of the free

SOCIALIST STATES OF AMERICA

>>5154486
i'm successful enough that through my day job I could probably swing the fact I had enough cash to buy a lambo.

>>5143879
>implying you can out-jew the US government

>>5143834
>BTC to gold eagles
>stash that shit
>write it off as a loss
>????
>rebate

Why don't you move to a free country?
The land of hospitality.

>>5154139
Why not just hold BTC directly for your IRA. I’ve thought about doing this but seems like a pain to setup when I already got my vanguard IRA working

>>5144143
But then you have to live in fucking Texas

>>5150129
>>live in canada, get taxed at 15% instead
i was just looking into this and it seems you are right

what a relief. i can actually do this fully lrgally and pay taxes. taking 15% is reasonable, i'm not thrilled about it, but it's doable. taking half isn't at all practical or sensible, it's just cruelty, literal actual cruelty and thats all

>>5150544
Why do you think Roger Ver sperged out so hard?

He literally became unable to use the currency he was evangelizing.

>>5156844
Isnt Austin,Texas apparently the best palce to live?

English tourist here and Ive only heard good things about it

>>5154106
Look up what tax evasion is

>BTC moons.
>"Oh shit, better set up some stop-loss for when the party is over"
>Kraken doesn't have stop loss.
>Kraken barely works even on normal days.
>Poloniex has stop-loss.
>Ok.svg

Question is, how the fuck do I cash out and transfer to my normie bank account? It doesn't fucking support fiat. How the hell do I reap my gains without resorting to the cancer that is Kraken?

binance
Where have you been?
Use 11157718 referral code pls

>>5144108

>>5143834
are you italian?

>all these anons thinking they can get away with not paying taxes
You can run from the fbi
You can hide from the cia
But you will never escape the taxman

>>5156920
Yeah but BCH is still shit though since it's built upon such infantile technology.

>>5147307
>han vet inte att att inkomstskatten är typ 60%
Men dom kallar de arbetsgivaravgift så de är lugnt

>>5143834
Move out of california

>>5143834
have you considered that you could have held them for a little while and paid 20% max on the gainz

tardbarge

>>5157158
gemini, pay your taxes faggot.

>>5149939
not if you put them to work! have your kids now so they are old enough when the time comes ;)

>>5143834
what country

>>5147474
EBT user here, and i live in a rich city :^)
Those $10 small pieces of pumpkin pie i buy from the expensive grocery store are great. I'm fully legally able to use EBT with paper work : )
Feelsgoodman

>>5157084
It's like a west coast hippie city in Texas

Lads where do we cash out?

Thailand?

>>5144143
shitty roads. Pay to to use the highway to get to place to get paid. Taxes how do they work

Where do you live, Schlomo?

children

I am surrounded by children on this fucking site

>>5157806
t. wagecuck slaving away his life

Why tf does no one every understand marginal tax rates in these threads. Not everything it taxed at the highest marginal rate, only income above 415k. Anyway funnel that shit through an LLC and deduct from there. Corporate tax rate will be 20% and if the AMT goes bye bye you can get much lower.

>>5154456
This happens at a smaller level too, ever notice a coworker will get angry at you, maybe passively, if they notice you are successful at your job?

Couldn't someone cash out and hold it over 3yrs? Just pay if investigated?

>becomes rich
>still lives in america
Never gonna make it anon

>>5157158
I am not trying to avoid taxes. Gemini doesn't have stop-loss orders.

How am I supposed to cash out from polo?

>>5151430
this yall fuck niggas don't know how to hustle

>>5150724
/pol/ is a big part of the reason we're in this mess you fucking imbecile

>>5158431
/pol/ supports immigration for the lowest tier of civilization?
Wtf i hate /pol/ now

>>5154486
kek

>>5154037
Only buying crypto and never selling does fuck up the IRS. You are fucking over the economy + you are devaluing the dollar + there are no taxes to collect.

>>5158509
This.

>>5158509
>not supporting the economy that wants your race exterminated
The white mans revenge

>>5158509
You gottem boy. They'll bleed dry while you laugh in your single room apt that you rent.

>>5158546
That'll come if they succeed desu. It's inevitable that if we don't win they all end up back in huts, or nothing.

>>5143834
buy palladium or gold with btc to avoid tax. then sell the precious metal in person for cash to avoid tax even more.

>>5148561
Unironically this, most of our money goes towards wars that don't benefit the average citizen in any way. Welfare is literally a drop in the bucket compared to the military industrial complex, this is why our country is fucked because identity politics and social memes blind people from the real folks fucking us over.

>>5146278
what country?

>>5143834

>Didn't convert it to XMR and trade with people direct for goods and services

>>5154924
No, it's only a crime for those that aren't already successful. Success for the bankster cabal and those that support it is perfectly fine.

>>5144338
It's true.
I do.

>>5158884
who the fuck buys precious metal in cash

plus they will tax it too whenever you want to exchange it back anyway

How would I go about selling my assets without being completely jewed by my government...legally

>>5159339

Legally?

>Move to costa rica or some 3rd world country that isn't complete shit.

Illegally but they can't do anything about it.

>Put it in XMR and trade with people direct instead of using cash. Let them deal with converting it to cash if they really want to.

>>5159339

Also, I used to buy games for people on Steam for services rendered. They don't take BTC anymore (and I wouldn't use it anyways with the god awful network fees and I'd rather just hold on to my BTC), but if they started using LTC or some other coin that has decent network fees, you could literally just buy games for people and have them buy your groceries or something for you.

Why can't a person just say they mined the Bitcoin? That shouldn't be taxable as capital gains surely.

>>5159339
If from US:
- Move to Costa Rica, hold don't trade, cash out

If from EU:
- Move to UAE, Monaco, Cayman Islands, Bahamas etc and pay 0 tax
- If you don't have enough to get residency in these places move to some eastern european country with low taxes like 10-15%

>>5159622
Edit:
meant Puerto Rico and not Costa Rica in case of US

>>5147370
I say we do it. TAKE AMERICA BACK FROM THE KIKES

>>5147370
>>5143834
>>5144108

https://taxfoundation.org/state-individual-income-tax-rates-brackets-2017/

What fucking state is making you pay 40%? The highest is CA with 13%?

>>5150177
A 4th Reich would be nice.

>>5159974
Federal taxes are the 40%, with the state tax on top of it = 53%