/biz/ - Business & Finance

only 300 people filed irs crypto related trades out of millions of people. its a joke.

You can trust me man i'll open singapore bank account for you

>>7940119
so when i cash out my millions at the EOY does it just deposit back in my checking account? if so how does that not get the FBI knocking on my door?

>>7940119
kek

I pay taxes because I am a true patriot

>>7940151
That's fucking it? 300? Holy shit.

>>7940170
if you're cashing out a fuckload and sticking it into a bank

expect to pay taxes

>>7940196
It was closer to 800 I think, and that was last year (2016 taxes), Coinbase users only. This year that number will be much higher, though how much higher remains to be seen.

It's not worth evading taxes.

>>7940220
where else do i put it?

>>7940119
>>bittrex keeps erasing my trade history
its all on the blockchain retard

>>7940228
Its still going to be low as shit. ballpark it at 1200. HAHA

>>7940237
If you are cashing out to USD it doesn't matter where you put it, the IRS will know and come looking for you assuming it's a significant amount.

>>7940237
hold?
people have already bought property with crypto
at some point, perhaps you wont even need to cash out

>>7940228
>It's not worth evading taxes.

>have made ~80k a year through paypal
>they file Form 1099-K
>haven't paid taxes in 4 years
>not a peep from irs

it is if you don't make that much

>>7940119
lol you fucking moron. you have to click "see all" to see all of your trades past two weeks.

FUCKING MORON HOLY SHIT

>>7940271
Nah man interest in crypto has at least 10x'd this year and a lot of long time hodlers took profits in December. Most of them are not stupid enough to think they can get away with tax evasion.

>>7940288
Evading taxes on 80k is worth risking a prison sentence?

>>7940314
he only goes to prison if he cant pay all his back taxes

>>7940314
He's too smart. The IRS will never get him.

>>7940182

>>7940302
Brad and Bob from Facebook who bought dat Ripple and Light coins, dont know how to file taxes outside of tax returns and probably dont even fucking know you owe taxes anyway.

I am telling you the number is going to be fucking super low.

>>7940314
i have money to pay them if they ever call me, but i dunno man i've heard people not paying for years and being just fine

i haven't filed a tax return in my life

>>7940376
And a lot of them will be hit hard when the IRS knocks on the door after they cashed out. I'd say that not many will be hit, but the ones that do will have their life ruined. It's your call if you want to risk this and constantly live with the fear of being fucked in the ass.

>>7940507
it's worth the risk, and you're dumb as fuck if you think you'll go to jail, you'll be hit with some modest fines but otherwise business as usual, almost as if you've paid all these years... who the fuck cares

>>7940119
They do the same shit to me, wtf?

>>7940119
we safe bois

Unless you’re using a US exchange for crypto to crypto you’ll only have to pay capital gains tax. Binance/Kucoin/etc. are chink exchanges based in Japan. The IRS has no authority over this party unless you verified yourself on Binance with an ID - maybe. Idk if they are helpless or not even in that regard. When you put your profits on coinbase before depositing it into your account they’ll only see what’s on coinbase. And I doubt people do much day trading on cuckbase. All they will see is the large sum dumped into your account and you can bullshit them on it being long term hold gains. They’ll be happy you paid any taxes at all seeing as how only a few hundred people payed in 2017.

>>7940507
>I'd say that not many will be hit, but the ones that do will have their life ruined.

Then conservatism will be even more on the rise with the next generation and we see the IRS get shitcanned as technology replaces a need for the IRS.

We are on a technological paradigm by the way. And socialism is going to get fucked hard in the coming years when we replace it with carrots on the end of sticks.

>>7940538
The IRS is paying soyboy fags from plebbit to scare goys into paying taxes. No ones going to get fucked by not paying taxes unless you’re making so much you can’t help but be noticed.

>>7940256
How will (((they))) find out addresses

>>7940228
It's morally wrong to pay taxes if you can avoid them. Reason being, what is done with your money when you paid your taxes:

* Importing refugees
* Gibs for apes
* Public education which includes corrupting the children to hate themselves, and lots of education in homosex, so that they grow up to be perverts instead of 'fascists'
* Public television - another mechanism of corruption and marxist propaganda
* Enforcing 'intellectual property' on the internet
* If you are not in the United States you are also sponsoring censorship with your taxes
* The genocide of the Palestinians. Usually it is justified with the Jews supposedly originating there. Pastor Anderson made a documentary debunking that notion. It's called Marching to Zion.

I could go on. Paying taxes is a moral crime. Don't do it. Find some way around it.

>>7940645
That's giving a whole lot of credence to a generation that's getting 8 hours of leftist propaganda shoved down their throats daily, their media blasting the same thing 24/7, and an entertainment industry that is hellbent on turning them into nigger/Kardashian-esque culture worshipers.
Not that it's their fault, but it takes a lot to come out of that as a sane, free thinking, and educated individual (mainly from a historical perspective since the US education is at best abysmal with just our own historical education). Can't say I have much faith.

>>7940256

>>7940756
>That's giving a whole lot of credence to a generation that's getting 8 hours of leftist propaganda shoved down their throats daily

Ask any 16-18 year old what they think of SJWs? A massive number of them probably already hang out in /pol/ . Its very uncool these days to be a butt hurt liberal. None of them watch TV anymore and only watch Youtube / Twitch and are increasingly being red pilled on the topic. Twitch went full fucking SJW recently. An increasing number of the next generation will have cryptocurrency in some form and will be forced to deal with the stress of paying taxes at an early age. They wont even be able to play games anymore without the IRS coming for their loot.

The next generation is going to be the most red pilled generation humanity has seen.

>>7940871
And to add to that its our job to give them a push. Adopt alt media, make crypto based games that don't suck and force the IRS to come after little timmy for his pokemon pets.

>>7940871
>They wont even be able to play games anymore without the IRS coming for their loot.
What an odd future we have found ourselves in.

>>7940700
This. Fuck these faggot soyboys

>>7940756
That’s exactly why it’s helping us. Kids have a natural tendancy to contradict their parents. When you have low IQ liberal millennial peers, the younger generation will be rebellious towards that sentiment. Not to mention access to the internet to view raw docs/videos and hear the opinions of others, which they’ll be drawn to for the same reason liberals believe weed being illegal makes people want to smoke it more (taboo effect). And those views will be cemented because of the objective reality of what cancerous losers (((liberal))) types are and the effects of their policies/ideology which we got to see play out over the last 8 years. Generation Zyklon is the most conservative since WWII.

>>7940921
Its not that odd. We are at the first technological echelon. Centralized vs decentralized technocracy.

If the centralized technocracy wins then we get your Blade Runner type Dystopia shit right. That's if we let the IRS win, then we get super strong powerful leftist governments that control every tiny detail of your life. Starship troopers and shit.

But if the decentralized technocracy wins we get the libertarian paradise where everyone is control of their own lives and technology helps us act within a symbiosis and organize our resources based on dynamic systems centered around personal gain or Incentives.

Only catch is that Aliens will fuck us up in decentralized technocracy. While a centralized technocracy will probably make us the villains fucking up countless aliens races and absorbing them into our collective. The Borg are the ultimate leftist paradise....

So yeah, centralized technocracy is going to have us paying taxes for our loot box "earnings" ...

>>7940981

>>7940714
they are able to backtrace the instant you cash out

>>7941024
cool

>>7940314
>>7940538
nice try you sneaky kikes
back to the oven faggots

>>7940302
You must only talk to 4chaners/redditors then. Normies have no idea this shits taxable and have no idea how to tax it.

>>7940256
>>7940555
>>7940314
nice try you sneaky kikes
back to the oven, faggots

>>7940314
is it a crime to not report your taxes or something
if you set aside some money in case they audit you it should be fine as long as you can pay whats owed?

>>7941311
They can now but once this bites enough people in the ass you can bet that privacy tech on coins will increase in value. Thus the free market will pretty much modify the technology to make it harder for tracking anything.

>>7941387
They don't fucking teach taxes in school! American schools DO NOT TEACH TAXES. This is amazing too me. A lot of people who wagecuck don't even think about it. They think that tax returns are free money from the government. This is the vast majority of Americans!!

The number of people who report this shit is going to be fucking low as shit. It will be higher than 800 sure but not by much.

>>7941487
>American schools DO NOT TEACH TAXES
Yes they do. They also teach reading, writing, and arithmetic, which is all the skills you need to do your taxes 98% of the times, since the IRS publishes detailed step-by-step instructions for every single tax-related form.

>>7942484
Bullshit, I have never met anyone who had taxes taught in high school or lower. They don't fucking teach shit.

You are going to be hard pressed to find any American anons who remember a how to do taxes class that wasnt at least a college course.

I make $80k/yr as a wagecuck. I put $30k into crypto via Coinbase last year and it's now worth $95k. Yes, I did coin to coin trades, but I haven't cashed out a penny.
I'm not sure how to proceed.

>>7942969
Did you trade BTC for other coins on Cuckbase? If not, all Coinbase has a record of are your buys. They can't issue you a 1099 Form. If you sold BTC for alts, I think they give you a 1099 Form still because in US tax law crypto-to-crypto trades are taxable

>>7943027

Nah, I just bought ETH that I sent to bittrex.
Honestly I'm risk averse, but I don't even know how to do this shit. Bittrex gave me data but I can't import it into the software I usually use to file.

>>7940314
kill yourself kike shill

>>7942739
I AM an American anon who learned how to do taxes. It was taught in eighth grade. Though, to be fair, I didn't grow up in the bible belt, so YMMV.

>>7940736
this
i will go to jail before paying taxes
i will let my private keys sit unused with millions of dollars if need be
that's supply reduction raising value for the rest of you, so even if you're a cuck you should praise people like me

>>7943205
I bet you are pushing 60. Out of touch as fuck I bet. Did you get your first job that paid a living wage with a firm handshake and look directly in your bosses eyes? HAHAHA

I don't mind paying paying taxes. What I do mind is knowing that the money will go to roads, health care and education. By itself that's fine. But it's not fucking fine that OTHERS get to use them! I paid for roads, I should be the only one who gets to use them. Privatise roads when?

>>7943740

> Government makes state sanctioned USD coin.

> Government mines these coins when specific tasks are completed and gives them to the ones who most contributed to that completion.

> State sanctioned USD coin is needed for government specific transactions.

You just turned infrastructure into a fucking video game.

>>7940302

>being this dumb

>>7940507

>being afraid of Jews who control all the money and see you as cattle

Lol, nah

>>7940591

Literally this.

Can we stop making these fucking threads? Up the tax FUD in April if you want

>>7943247

This. amen brother. Respect.

>>7940119
as far as I know crypto to crypto isn't taxable...
that would make no sense.
It would be like taxing in-game transactions between players in a MMO..

However crypto to fiat, yes is apparently taxable above a certain amount.