/biz/ - Business & Finance

>>6782727
Most of biz would have massive write offs because they fall for every shill and buy high.

>>6782727
>tfw you thought you could have a lucky break

>>6782727
Buying and holding means no taxes due yet. Suck it day traders

>>6782727

You only pay taxes if you make money, 99% of biz won't have to worry about it

>>6782808
>>6782973
>tfw you realize some people LOST money during the huge bull market of nov/dec/early jan

What if you buy some monero or other privcy coin and send it to an exchange? pay tax on the privacy coin you bought but try to out perform it on the exchange and keep the profit

>Not evading taxes
What are you, a retard?

how does capial gains tax work?

example: ENJ at a -300 loss
LINK for a 300 gain then put a lot of capital in VEN. How would taxes work on something like that?

>>6783037
give us a step by step

>>6782727
>Not taking steps to become an expat

Why do you want to keep propping up this shitshow of a country OP?

>implying

>>6783085
Step 1: don’t report any of this shit to the irs
Step 2: profit
Step 3: get audited years later and go to federal pound me in the ass prison and lose all your money

>>6783103
>yfw you pay the expatriation tax

>>6782727
What kind of authoritarian shithole would have rules like that? Get a better country mate.

>>6782727
leaf here. Not doing it. Going to tax myself on cash out - cash in

>>6782727
> Be me
> live in Switzerland
> Do not have to pay taxes on gains from crypto or stocks
> Profit

>>6782950
you're not "buying and holding" if you buy alts with btc/eth
once you sell btc for an alt you're already realizing gain/loss thus creating a tax obligation

Burgers prepare your asses, mr Taxman needs your money for picrel
Land of the free, MAXIMUS KEK

>>6782727
What poison did he use? I'm thinking of killing myself too.

Not that I would do this but what stops a person from just not declaring any of this until they’ve already denounced citizenship, and gotten citizenship someplace else? I know there are expatriation taxes as people have mentioned but how do they know to tax you on digital gold stored on that flash drive you take with you? Then you accidentally rediscover it once you’re a citizen In another country.

>>6783767
Obviously this would only be useful to big players in crypto but I’ve always wondered when these things come up how they would ever know or if it’s even possible unless you try to withdraw while you’re still here.

>>6783767
tha's what you do if shit hits the fan.
You don't even need any flash drives/wallets
just remember the passphrase, show the US cucks a middle finger on the airport and restore your wallet in a country that doesn't hate money/its citizen and will allow you to cash out as long as you give them something without this "every trade hurr taxable durr event record history" BS

>>6782727
how the fuck are day traders supposed to record every trade lol
do exchanges have an export log for all your trades?

>>6783861
some of them do, some of them don't some will give you a sheet for only the past 3 months like binance, but it all doesn't matter because they are just excel sheets that you can freely fake

Just make up some fake trades when you're about to cash out and that's it.

>>6783861
yes

>>6783138
>don't give them personal info

I haven’t done anything this year. I’ve been holding since November 2016
Loser daytraders

>>6782727
For 2017 you only have to pay taxes on the amount to cash out to fiat.

>>6783938
if you ever bought an altcoin with btc/eth you're equally fucked and stop being cocky, kek
T A X A B L E
E V E N T
prepare your burger ass

>>6782727

>you have to record every trade
in case if the law has questions, yes. but is very easy. set up a small excel sheet right from the beginning
>you have to pay tax on every trade#
depends on country. in germany you can buy and hold for >364 days and you wont pay a thing OR buy and sell before 364 days passed, cash out once, fill out a chart in 10 minutes and pay 28-35% tax income once on all cash you gained.
>you have to pay tax for last years profits even of you didnt cash out
no big deal, cash the tax amount out and keep trading
>you will have to [pay a huge percentage in tax to cover all of this
depends on country. in germany it is basic income tax 28% to 35% max
>your accountant will probably try to rip you off
and
>the taxman will probably try to rip you off
thats why you have the excel sheet with all your trades

>>6783938
"loser day traders"

>doesn't double his portfolio on dips and bull runs

>>6784127
let them stay cucked, lol
they think they will win this game by being obedient cucks while everyone with a higher than 1 digit IQ trades freely without compromising his gains because
>hurr durr muh taxes

>>6784164
We need HODL'ers so the price keeps going up. I'm not one, but we need them. You should be trying to convince as many people as possible to hodl.

>>6784164
trust me, i feel no remorse for people missing out on free money.

Moon! new paradigm!
>sell
Crypto is over, get out now!
>buy
>????????????

>>6782950
At least daytraders are actually taking advantage of an irrational market, 'buying and holding' is an even bigger gamble because of the amount of factors that could destroy the crypto market in the mid term. You're absolutely insane if you think 95% of the market is going to survive at all.

>>6784287
>>6784288
it's clear how the government tries their best to discourage everyone from investing
>forcing you to pay taxes after every year even if you don't have any cash
>forcing you to trade and calculate thousands of trades, icos/airdrops/forks/txs fees
>forcing you to calculate all that according to what? coinmarketcap? Coinbase? what if there are local flash crashes etc kek

this shit won't be enforcable and all the obedient hodlers (even tho they already have tax obligations by buying alts with btc/eth which they are not aware of) will get fucked when their shitcoins go to 0 one day, meanwhile the free trading masterrace will just find a crypto tax friendly country and retire

>>6783984
I gave my trades from ETH to the IRS for my 2016 taxes already.
Stay cucked, enjoy jail.

I hope the mods ban these shit coordinated threads
yopure bigger faggots than the link spammers and tether fudders

>>6783909
>fake trabsactions

Jfc why didnt i think of this

Clever girl

>>6784523
I will pay my taxes but only when I cash out and no more than 20%, meanwhile you will enjoy your pathetic gains after getting shaken out by Mr IRS,
Stay cucked, enjoy wagecucking lmao

>>6784732
not sure if that's sarcasm or not, but yea, that's what you do

assuming you never sold anything on a verified exchange you just put up some fake trades for the last year before cashing out, so that they add up to the final amount of btc/eht you're selling and voila!

>>6784523
It shows how retarded people are here when they think that if you underreport your income, you’ll go straight to jail.

This happened to me this year for 2015 tax and all that happened was I got a letter and I paid the taxes that were due. End of story. Even if I didn’t pay, they would’ve seized my property, not send me to jail.

Do I have to pay taxes on every trade made in 2017 and record them?

>>6784905
misery loves company
they want to make sure everyone is an equally obedient cuck so they don't feel so bad about themselves
>muh jail
>muh tyrone raping you
oh right, I'm so scared lol

>>6784949
if you did it on a verified exchange then yea I could see a problem with not reporting it, but if you didn't see >>6784882

>>6783712
Hemlock. Dont use it. its very painful.

>>6783004
only those that entered the market at that point

>anon its says here you invested in something called ethercraft, would you mind explaining to me what that is?

>>6782727
>Burgers

>>6785113
The land of the Free
actually the biggest financial slavery in the world
lmao