/biz/ - Business & Finance

>paying taxes
Kek

>>57651407
Say is there any way to finagle out of the short term tax rate if say, you bought some random shitcoin and made a million dollary doos off it? I mean you’d have to take profits since it’s doubtful it’d stay at the top for long, but you have to hold whatever asset for at least a year supposedly for it to be at 20%. There’s gotta be a way around it right? I hear all the time rich people have ways of getting around goy tax

>>57651443
I wish. There doesn't seem to be a way out of the long term tax. I think the only way is living in Puerto Rico. Issue is you have to live there while you made the gains or some shit like that.

I'm all ears if anyone knows a legal way out of it.

>>57651443
>saul ID
>doesnt know how to kibash the goy tax
If you don't already know, you weren't CHOSEN to know, and must pay the goy tax
Oy vey

혦혢혳혯 혧혳혦혦 혨혪혧혵혤혢혳혥혴 혢혴 혮혢혯혺 혵혪혮혦혴 혢혴 혺혰혶 호혢혯혵 혢혯혥 혳혦혴혦혭혭 혪혵 혧혰혳 혱혳혰혧혪혵혴, 혳혦혢혥 혵혩혦 혱혥혧 혢혵 혵혩혦 혭혪혯혬 혣혦혭혰호

tinyurl
com/v6bfr7jv

n6h3c1m9q2

How TF do taxes work?

Lets say You buy $1k worth of buttcoins and it goes to $1million.. Lets say you held them for more than 1 year..

Do you only pay 20% tax on $1 million in gains?

>>57651872
no i think u pay 40% over 400k

>>57651872
Uncle Sam reaches into your pocket and takes your shit from you and you have to salute a trans flag and sing the black national anthem while he does it

>>57651407
>capital gains tax rate

>>57651872
if you're saying that your portfolio goes from $1k -> $1mil, then its ($1mil - $1k) * .20 in tax owed.

>>57651407
I was doing some research just now and apparently there's different bullshit richie rich niggers do to avoid the goy tax. So apparently you can borrow and take loans and live off them w/ assets as collateral, and they basically don't tax you on that or the interest, even having it written off as expenses. Also, apparently you don't have to pay taxes on anything you immediately turn around and spend within the same year you made it? So if I sold and then bought a 300k house, apparently that's 300k I wouldn't be taxed on?

I'm not sure if my understanding is perfect, but there could be some room to try and jew Uncle Sam a bit. Might have to ask a tax jew professional for more info.

>>57651443
afaik wash sales are still legal for crypto but I'd certainly dyor

>>57652082
>So apparently you can borrow and take loans and live off them w/ assets as collateral
I feel like that's a trick to get us to have a health factor of 1 and lose everything

>>57651443
the government isn't going to check what price you sold or bought a shitcoin on uniswap or on a foreign exchange or calculate exactly how much you owe
just give them enough to fuck off and hide the rest in obfuscated defi transactions after sending to some chinese exchange that's my mindset

>>57652131
Will take a look
>>57652193
Yeah, I was hoping it'd just be like you throw some arbitrary amount that looks ok and then you can obfuscate the rest, or stall and beg them for more time if they do catch on.

>>57652237
I hold a shit coin that I made a huge gain on that I bought with funds transferred from Coinbase to my own wallet, I just plan to move that stash of shit coins to a foreign exchange sell it all there and keep it in crypto for years and report whatever I want from then, it's all less than $100k so I doubt they care and can trace it

>>57651443
If you bought a shitcoin early enough that it did a x100+ that means you bought it on a dex meaning the tax jews have no way of knowing you have money for them to grab. The tricky part is actually being able to spend that money because if you sent that money to your bank you'd be the hook for having to explain where the money came from. You could probably just find a way to buy gift cards with crypto and spend it that way you just won't be able to buy a house

e͎͓̽a͎r͎n͎ f͎r͎e͎e͎ g͎i͎f͎t͎c͎͓̽a͎r͎d͎s͎ ͓̽a͎s͎ m͎͓̽a͎n͎y͎ t͎i͎m͎e͎s͎ ͓̽a͎s͎ y͎o͎u͎ w͎͓̽a͎n͎t͎ ͓̽a͎n͎d͎ r͎e͎s͎e͎l͎l͎ i͎t͎ f͎o͎r͎ p͎r͎o͎f͎i͎t͎s͎, r͎e͎͓̽a͎d͎ t͎h͎e͎ p͎d͎f͎ ͓̽a͎t͎ t͎h͎e͎ l͎i͎n͎k͎ b͎e͎l͎o͎w͎

tinyurl
com/5n8radbp

y0y7v1l7s6

>>57651436
this