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/biz/ - Business & Finance


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9660615 No.9660615 [Reply] [Original]

Daily reminder that you liable to pay tax on crypto to crypto trades as well as crypto to fiat.
This applies to all countries. Exchanges will be required to send your info tax authorities eventually. They will catch you. Don't forget to pay tax on your gains.

>> No.9660626

>classic boomer cope

>> No.9660641

>>9660615
You forgot that if you don't cash out then you don't owe anything

>> No.9660653

>>9660641
What about cashing out and "unknown amount"?

>> No.9660657

>>9660641
Trump's tax bill eliminated this so now every crypto to crypto trade needs to be recorded.

>> No.9660667

A lot of white faggots thought Trump would be good for crypto or something. White people are easy to trick. 666

>> No.9660676

>>9660657
I ain't a burger so this doesn't apply to me. Though why would you continue to be a US citizen with ridiculous laws like that anyway? Just leave

>> No.9660684

>>9660657
Else what? The IRS has no ressources to go after the NEET crew on /biz/.. especially because they are not able to

>> No.9660693

>>9660667
>667
Meh close enough

>> No.9660707

>>9660684
Not true at all, the blockchain is the easiest thing to track. It's literally the NSA's dream. If only paper fiat could be so easy to load into data analytics software and be tracked so easily. The IRS has all the tools to track your entire history of crypto trades, even privacy coins if you bought them on exchanges.

>> No.9660716
File: 8 KB, 1206x54, 51Xl8RL.png [View same] [iqdb] [saucenao] [google]
9660716

>>9660626
I calculated my taxes, have you?
>>9660641
It applies to most countries my man, where you from?
>>9660684
You'd be surprised.

>> No.9660727

You ever share your btc wallet somewhere? They have it tied to your IP and can easily search it up to accuse you of money laundering and other crimes if they want. They can do this for any amount and they have.

>> No.9660733

>>9660707
tumble ?

>> No.9660734

>>9660716
Australian living in Switzerland.

I meant renounce citizenship, not just leave the country.

>> No.9660741

I got money back from 2017 crypto taxes. Kino.

>> No.9660745

Im not paying shit :) go fuck yourself faggot

>> No.9660758

>>9660707
Tell me how you can go after someone who bought his stack via p2p or someone who throws in monero tnx's...pooling and wash trading schemes, csshing out via p2p.

Teach me senpai.

Basically impossible. Guys who are basically verfify via KYC in exchange to buy in...and sell from one into their bank account, are lost anyway.

>>9660716
I would be. True.

>> No.9660761

>>9660734
read this https://medium.com/@mulligan/tax-guide-for-crypto-traders-205656586c1d
Even IF crypto to crypto is classed as a like-kind exchange in switzerland(and it's a big if) you still need to report.

>> No.9660768

>>9660761
Been doing it for ages with no issues. I really don't care

>> No.9660791

>>9660758
Sure, if you try really hard but I can guarantee that almost everyone on /biz/ has done trading on a KYC exchange.
>>9660768
You don't care now, but just wait until the tax authorities start asking for exchanges records and you get thrown in jail :-)

>> No.9660822

>>9660758
>Tell me how...

As if the majority of all retards were cracks in doing their stuff purely p2p and not via bank accounts, that are linked to their name. Also show me someone, who is able to exchange lifechanging money p2p - there, you always have the danger of being robbed or falling for a honeypot of the government. In both cases, you are fucked.

Also, the IRS in non-shitholes is not nearly as retarded as you all think. They dont care about a couple of thousands in gains, but as soon as you enter a significant amount (how much depends on where you actually are), your chances of getting caught skyrockets, if you try to dodge taxes.

>> No.9660833

>>9660791
It doesn't matter if you have traded on an KYC exchange.

You need an entry and an exit point, otherwise you wont be able to trace it back. With only one...then clustering is a possibility but that's another story.

>> No.9660848

>>9660716
>t. paid taxes and now feels retarded he fell for it so now he’s coping on biz

Love it.

>> No.9660852

>>9660791
95% of my money is held in a trust fund that's based in another country. If the Swiss government turns into a bunch of fuckwits then I'll move to another country where my best interests are served. It will be their loss

>> No.9660892

>>9660822
I am not even from burgerland, but look..all i am saying is, there are plenty of ways to do it. If you have done you research before buying into crypto, then you have nothing to fear.

>but as soon as you enter a significant amount (how much depends on where you actually are)

Nobody enters a significant amount in their banking account...anon...i...am

Last but not least...taxation is theft anyway.

>> No.9660902

>>9660615
it doesn't apply to all countries, you shit head

some European countries do it differently than the muricans...

I don't pay a single cent for crypto to crypto gains, only once I cash out into fiat

>> No.9660910

The “you have to pay taxes” FUD meme doesn’t work very well when 99% are going to lose money this year anyway now go away boomer

>> No.9660923

paying taxes in crypto LOL the absolute state of these permaslaves

>> No.9660999

i'm literally not paying a penny in tax until the very end and and i want to put £30m worth of crypto into my bank account, then i'll pay the current 28% tops. if they want to take more than that from me i will tell them to fuck off and move to switzerland and cash out there.

paying taxes for each profit on your way up is the stupidest thing you can do. you should kill yourself if you're willing to fuck your chances up of making it by giving away half of your leverage. literally all you have to do is report it at the end once you've already made what your aim was then say you had no idea about crypto to crypto taxes and that the idea seems bizarre and you're not sure how they would have enforced that anyway. because they literally can;t enforce that, it's a different currency, decentralized, they have no control over it whatever and forcing you to sell into fiat just to pay some taxes is a massive scam. they can tax you on crrypto to fiat and that's it, you have to be a brainlet to fall for anything else.

>> No.9661008

>>9660892
taxation is thievery by the state.
there is no denying it.
taking anything away from me which I don't give away is theft everywhere on earth, just not when your government does it.

I'm already paying for all kinds of community shit with my salary and taking my hard earned crypto is thievery.
if they are here to help me out with my losses, that could be considered, but they let you in your loss, but take your profit they didn't contribute anything.
fuck them

>> No.9661035

>>9660684
they specifically made a cryptocurrency division because of you.

>> No.9661048

Luckily I live in northern europe where crypto to fiat is only taxable event, ie. cashing out

>> No.9661164
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9661164

>>9660892
>If you have done you research before buying into crypto, then you have nothing to fear.

Good luck, then. I can assure you, that in most parts of Europe many people will get fucked in the next couple of years, if they listen to you and try to hide significant amounts of gains from crypto.

Smarter people than you tried to play around avoiding taxes. You are either big enough, to pull stunts or small enough, to not be worth the effort. But the gap is extreme. It starts at around low five digits in Germany, where no one cares what you do (as long as you dont do it on a regular base AND you are smart). Afterwards, the investigators here in Germany start to get interested, until you are big enough to employ legal professionals, who cost more than you are able to pay.

I don not talk out of my ass here. My wife was a tax investigator in Germany ("Steuerfahnder") for years. This stuff is not something you "read about it on the interwebs and then avoid it". Such a statement is equally ridiculus, as if you would like to go to a court and defend yourself, because you can read.

Screencap this. If you have no experience in hiding taxes and/or professional education in how the tax system works, your chances of getting caught is borderline extreme.

>> No.9661168

I wrote a program to balance my trades and calculate the average cost basis for each coin. noprogrammers have no business trading crypto.

>> No.9661227

>>9661164
Germany is a tax heaven anyway regarding crypto. Hold 1 year and cihll your life. Anything else in your story is quiet funny, because crypto is a never seen possibility for "Steuerfahnder" and they have no clue how to handle the situation. You cannot just differ from people with 4, 5, 6, 7, 8 digits in crypto assets and just follow the ones you like.

>> No.9661343
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9661343

NO NO NO FUCK OFF THIS IS MY MONEY YOU DON'T NEED IT!!!!!!!

>> No.9661344

>>9661164
you are a cuck realizing he's wasted massive percentages of his net worth on taxes and trying to feel better about it by hoping a bunch of neet's are going to do the same thing. nobody is stupid enough to make the mistakes you have, you aren't a very intelligent person and are under the illusion that people are as dumb as you.

>> No.9661490

>>9661227
>Hold 1 year and cihll your life.
If you do not trade around, yes. Because this time starts all over again for the amount of crypto you trade.

>they have no clue how to handle the situation
Oh, you are in for a world of hurt, if you think that people dealing with tax dodgers every day for a living dont know how to handle "this iz new investmant, yuo not know haw tah handle thiz!" - bullshit. My wife stopped telling me these stories, as they happen way too often.

I might drop a bomb on you here: if you cashed out abnormal amounts of money into your bank account, the bank almost certainly reported it to your next IRS, before you yourself can even see the money in the account. And the burden of proof, where you got it, is completely on you. Almost everywhere in Europe.

If you do not deliver documents for it, all of it is fully taxed as gain.
If you dont report it in the given time, you pay sick interest on it.
If it is more than a certain amount, you can even go to jail.
In any case, you are a convict, which might hinder your future.

This might take a couple of years, but do not think that these people are stupid. They are throughly, you cannot bribe them and they do not care what you think taxes are or what a whiny excuse for a libertarian you are.
Because they have leverage over you, which they enforce without mercy, if they see you try to fuck them.

>> No.9661550

>>9661490
>I might drop a bomb on you here: if you cashed out abnormal amounts of money into your bank account, the bank almost certainly reported it to your next IRS, before you yourself can even see the money in the account. And the burden of proof, where you got it, is completely on you. Almost everywhere in Europe.

It is around 10k-15k in average - some diffrence from country to coutnry.

Nobody is doing that shit and bombs 50k into their bank account and hopes to evade taxes, i mean...anon...come on. Do you really think people with 7-8 digit portfolios, don't know BASIC stuff like that? Anon i am really sorry for you. But desu, i cannot even blame you.

How should you believe something else, when your loved one is a "Steuerfahnder" and is doing the exact thing you are scared of. Your believe system is obviously biased af. There are plenty of opportunities. Nobody on /biz/ will tell you the way, but people can show you the right path.

>> No.9661619

>>9660833
Yes it does. If you trading 100k in assets and you've never had that much money in your life tax authorities will wonder why they don't have a record.

>> No.9661627

>>9661490
If you don’t listen to this anon, you will soon learn the wonders of civil asset forfeiture.

>> No.9661633

>>9660999
This. All they're getting from me is the taxes on the fiat that I can cash out and actually use in real life.

Also checked

>> No.9661651

>>9661344
>cuckcuckcuckcuckcuckcuckcuckcuckcuckcuck

I am smart enough to lower my tax burden through a legal professional (my wife), who knows loopholes and possibilities, which you will not find on the internet.
I am also smart enough to earn enough money, to not care, that a certain amount of it is going to the state (which I am ok with).

It is on you, to either disregard my words as bs and take your chances or listen to me and ask the next tax consultant about it. Like I said: below five digits in gains and I doubt they would come for you anyways. But anything above is almost always a sure way to start criminal tax proceedings on your name.

You can again be a neckbeard, fellow anon.
But please do me a favor and cry on 4chan, when (not "if") the IRS sends you a letter.

>> No.9661656

>>9661164
>wife steuerfander
>thinks system works
got a entirely different experience from an older steuerfander. 90% complains how it doesn't work. 10% idealism how people should pay taxes when others don't to keep the monstrosity running.

Also personal experience with the tax advisors:
>how do i tax cryptos?
>what?
>crpto, you know bitcoin?
>what?
>continue for 10min trying to explain shit
they don't seem to have it the least bit on the screen.

>> No.9661707

>>9661490
It doesn't even have to touch your bank account. Soon tax authorities will ask for records from exchanges. If your balance at that exchange was an abnormal amount, they're going to want to know where you got it from.

>> No.9661749

>>9661707
>soon
it's already happening.
for germans bitcoin.de gave on their own accord all data away

>> No.9661751

>>9661550
>Do you really think people with 7-8 digit portfolios, don't know BASIC stuff like that?

You would be really amazed, how stupid people with this much money can act.

>> No.9661778

>>9660615

So what? No different to any other assets. And it IS different from country to country - in most it's only at cashout that it matters.

>> No.9661782

>>9660615
They can suck my dick.

>> No.9661785

>>9661778
so did Coinbase

>> No.9661791

>>9661785
meant to be a reply to this >>9661749 guy.

>> No.9661798

>>9661778
most countries want to take their share of the goys money

>> No.9661800

the question is of Fiat / LEGAL TENDER / TENDER FOR LAW and JURASDICTION

Otherwise they have no jurasdiction whatsoever over any crypto that isn't/wasn't acquired through a centralized Legal entity.

The Law Society is the Private Society Cult, attaching their rules to your life at every step. The only thing you need to know is what actions do you yourself choose to do (ignorantly) for them to gain jurasdiction

>> No.9661857

>>9661651
you've posted here loads of times you cringy fuck. your wife is a dumb cunt and if she thinks any tax men in any country are going to turn down a cash out at the end for 28-50% tax then she is an absolute fucking idiot. an actual moron of a woman. again if you're paying tax on the way up and not once you've reached your goal, then you are the definition of brainlet.

>> No.9661869

>>9660615
>This applies to all countries
haha

>> No.9661875

>>9660615
Daily Reminder
The Mutts live in one of least free nations on earth but are to dumb to see it

>> No.9661876

>>9660615
by the time they get onto me, my money and I will be far far away in a country that doesn't extradite..

>> No.9661895

Hahah burgers BTFO

Dutchfag here, crypto is not taxable. Only your wealth is taxable. So it doest matter if you have roubles, dollars, bitcoins or whatever the fuck ----->

0 - 25k = 0% / year
25k - 100k = 0.8% / year
>1milli = 1.39% / year

Easy, simple and it works. Good luck keeping track of your shitcoin trades whaha, just HOLD em for 1 year r-r-right ? Good luck in this shitmarket. Im gonna roll a fat joint and fuck a hooker in the ass from my crypto gains I cashed out start januari.

>> No.9661913

>>9661656
>got a entirely different experience from an older steuerfander.

They know how cryptocurrencies need to be taxed in most cases - it is a simple private sale ("privates Veräußerungsgeschäft"), where also the holding time of one year stems from.

Anything following this is business as usual, cryptocurrencies did not bring anything new to the table here, except that there was kind of a dispute, as what it is taxed specifically, how they can utilize the publicity of the blockchain to track transactions etc. - but taxing is not the issue.

>> No.9661919

>>9660615
>This applies to all countries.
Crypto to crypto trades are not taxed in all countries. As the Morrissey song goes, America is not the world.

>> No.9661934

>>9661895
>Only your wealth is taxable
>he thinks that is good in any way shape or form
you get taxed on your income, your income gets eaten by inflation and if you still have anything left you get taxed again on your wealth.
how does it feel being a serf in the 21st century?

>> No.9662040

>>9661913
>private sale
what if you just open a cheap llc and do it over your company?

>> No.9662062

>>9661913
>cryptocurrencies did not bring anything new to the table here

How is your wife going to trace tnx from dex?
How is your wife going to trace monero?
How is your wife going to trace back poolings?
How is your wife going to trace back freshly mined coins?

We don't live in a fairytale with magic, dragons and elves, who are freely willing to pay their taxes. Cryptocurrencies brought a whole new shit to table. Fucking untraceable If you are doing it right.

We don't need to discuss wether is is supposed to be taxed or not. The laws are clear in most countries, even though the first court cases will change up a lot of things, because you cannot randomly differ crypto from other financial assets.

>> No.9662100

>>9662062
Finland certainly knows how to find cryptocurrency tax evasion.

>> No.9662136

>>9662100
I love to discuss the tax situation on /biz/ and do some free survey how everyone thinks about it, but just tell me fucking how?

I'm clearly open for a discourse, but at least give us some input.

>> No.9662212

>>9662136

It's impossible. The only workable solution is taxing you when you exit to fiat......on the amount that gets exited. They have no way of knowing if I bought Dero or XMR and sent it to the wrong wallet by accident, or blew it all on bad trades or made a million dollars. Only matters when I try to spend it anyway. As always, OP is a faggot.

>> No.9662235

>>9661800
THIS, apart from /biz/ is to dumb to understand!

Do you know about the 13th amendment (forbid titles of nobility i.e Esquire)? the war of 1812? How they relate to the BAR (British Accredited Regency)?

>> No.9662277

>>9662235
fyi, i am not a mutt

>> No.9662296

>>9662062
>How is your wife going to trace tnx from dex?
>How is your wife going to trace monero?
>How is your wife going to trace back poolings?
>How is your wife going to trace back freshly mined

YOU need to provide the proof of origin of the fiat YOU gained from YOUR actions on the cryptomarket, regardless if you got rich with trading shitcoins in 2017 or mined bitcoin with a calculator back in 2009.

My wife would simply check the information you gave her with the reality (she does not work there anymore). But if you just do not give information, YOU are fucked, because they assume that simply all of it is gain.

No investigator needs to check about freshly mined / monery / dex / what you did or dit not, if you did not reported it, they simply demand the information from YOU!

>> No.9662423

>>9660615
Wrong, you dont have to pay taxes in Germany (umsatzsteuerfrei). But nice crab bucket mentality

>> No.9662425

>>9662296
paying on your whole stack when you cash out to fiat is much better than paying on every trade when you accumulate

>> No.9662443

>>9662425
Never said otherwise.

>> No.9662483

>>9660615
>Crypto to crypto trades tax
That doesn't exist In my country. You guys got fucked.

>> No.9662555

>>9660615
it's always the same thread, again and again...

>> No.9663314
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9663314

>>9660791
This is hilarious.
> be state
> erect massive world spanning system forcing people to slave for your tokens on penalty of imprisonment or death
> inflate and tax away any financial gains they manage to actually make, so it's also perpetual
> can't even run a straight game anymore, entire system collapses
> ancap fags pissed, they know a little crypto, decide to fuck my shit up.
> lol internet nerd money.
> lol wtf u mean pic related
> this isn't fucking funny anymore
> you cunts are messing with the fabric of the civilisation that we fucking *OWN*
> try to police it
> they move to anonymous chains
> try to regulate the exchanges
> they move to anonymous dexes and on chain atomic swaps
> try to subvert the largest blockchain by seizing control of the development team and major corporate backers
> they fork away and keep increasing adoption and pushing their coin as actual money
> there's nothing I can fucking do
> go on laotian basket weaving forum and scream threats into the ether that if they don't report themselves for re-shackling, they will be re-shackled.
> bust a blood vessel
> have a stroke
> world continues on without me and nobody mourns my passing.

>> No.9663446

>>9662296
lol, my basis is so low that the difference between what i actually got it for and paying full-basis is about 5k.
feels good man.

>> No.9663462

>>9663314
Kek. These threads are entertaining. It's one thing to warn anons about tax laws and ways people might get in trouble (example: irs gained access to coinbase accounts trading 10k or more). But most of these threads act as threats disguised as warnings. Further convinces me that tax shills are probably paid to post here.

My recommendation to anons: slow down your use of centralised fiat/crypto exchanges like coinbase because the probe will get bigger with each coming year. Find a crypto seller locally who you can trust and buy it that way. I stopped using a fiat exchange early this year and I'm playing with the house's money. If I need more crypto, I will buy from a local bitcoin miner i know and trust.

>> No.9663510
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9663510

>>9660615

IRS can suck my dick.

>> No.9663511

>>9663462
Right, buy local, buy organic, and most importantly, don't patronise the control points of the old slavemaster looking to re-shackle you.
When he's dead, all of us will have "made it". Until then, we're just building the new world in the shadows.

>> No.9663533

>>9661633
this. checked.

>> No.9663570
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9663570

>>9660615
>Tax on crypto to crypto trades
nope, not here in US
>https://www.irs.gov/pub/irs-drop/n-14-21.pdf
They treat it as a property being traded, you are only held liable for taxes when it is sold for USD.
Your total tax liability will be the sum of the USD you spent on the coins plus the sum of the USD earned from selling the coins.
you lose money trading, you have a tax write off, you gain money, you earn taxes.
if you mine and it is 100% profit, then you are taxed as personal income when you sell the coins for USD.
if you hold the coins for over a year, personal income tax bracket does not apply and its simply capital gains tax-rate when you sell the coins.

>> No.9663579

>>9663511
Germanguys problem is he can't. They jail people who trade private with the argument that you need a license to act as a exchange. license costs €100k + additional crap added on top. Basically put all the poorfags on same level as drug dealers.

>> No.9663605

>>9663579
Then he should leave. The only way the countries will get the message that what they're trying to pull in the more authoritarian shitholes won't work, is if all the people it's targetted at simply up and say "You know what? Fuck it, Malta is looking pretty nice right now".
Between jurisdiction shopping and the mathematical primitives of cryptocurrencies, anyone with the least bit of will to be as such is effectively untouchable.

>> No.9663625

>>9660615
Nope not all the countries check again boomer.

>> No.9663715

>>9663605
The smart ones heavily invested in crypto left already. Tax law is nice in that case - you don't pay taxes if you officially change residence and live more than half the year outside the country. For those unable to leave it's however gg no re.

>> No.9663768

>>9663715
Yeah basically everyone i know from the early days has already a policy of blackballing any country hostile to crypto. I don't think realistically anyone is "unable to leave". If you're in an authoritarian state where they're proving their agenda is to enslave you by their actions, you make it your business to leave no matter what it takes, or you end up enslaved.

>> No.9663776

>>9660615
which gains

>> No.9663816

>>9660615
>This applies to all countries.
Nope. In Estonia there is 0 trade based tax. You only pay 20% income tax on the profit that you cash out. There's probably other countries as well with similar laws.

>> No.9663849
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9663849

>>9660615
In theory cant i just worry about tax when i cash out and pay whatever bullshit late fee they give me

>> No.9663851

>>9663816
Canada you only pay on realized gains IE cashing out, unfortunately this applies to things you purchase with crypto as well as that's a realization of your gain

>> No.9663904

>>9663768
Didn't mean unable due to goverment. For many family &co are holding them in place. And most prefer a "secure income" from their job over risky investment.

>> No.9663992

>>9663904
Right, and I'm saying that they should pack up their entire families and everyone that agrees that what is being done is unjust, and move to a place where it's not being done. It's happened before throughout histories on issues of similar importance, this is effectively insistence on maintaining a system that differs very little from slavery on penalty of imprisonment or death. Staying in a country that actually makes that a policy is simply stupid. If you have a company, your skills will be valuable in other places not so retarded, if you have a family, you do them a favour by moving out of that environment. The truth is eventually anyone with any actual wealth to tax will have moved out anyway and then the inevitable will happen at any rate, so it's simply pre-empting that to not be there when it does.
"Let's just let the state do whatever it wants to do, I'm sure nothing will go wrong." has never been an effective policy, and it's not going to start now because it's current year.

>> No.9664486

>>9662136
it's extremely easy. track the USD prices of all the coins you buy and sell, and enter it into accounting software like quicken or use something like bitcoin.tax. the software outputs a report or .tax file of all your sales, simple as that. but you have to calculate the USD prices consistently for all buys and sells or else they will accuse you of cherry picking prices for less tax exposure.

>> No.9664503

>This applies to all countries

actually the US is one of the few countries that demands tax on crypto to crypto trades

>> No.9664533

Daddy, waht are cryptogains?

>> No.9664714
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9664714

>>9661168
With that attitude you’re sure to see massive adoption.

>Pic is you

>> No.9664733

>>9660641
technically false but in practice true

>> No.9664990
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9664990

>>9663314
The masses will not wake up until it's too late. Crypto is our only real hope at this point. I'd say if you are lucky enough to be in a situation where you have no living expenses, go all in, throw your shitty fiat into crypto before it's either illegal to 'take money out of the system' or some other bullshit thing.

Personally, I regret cashing out half my crypto in January. If I could put it back in without penalty, I would, because fuck this system. The very first thing that happened when I deposited my money from fiat at the bank was that they informed me that were freezing it for 5 days. Like, the very first institutional interaction I had with a bank was these fucking people telling me, 'Haha, it's our money now, we'll tell you when you can use it.'

Something someone else said on /biz/ a few weeks ago has stuck with me, which was that he thinks of money in terms of BTC now, not dollars. I am starting to do the same. One day, I'd like to use some chip credit card thing and have no banks involved, just pay 50sats for my coffee by tapping my card. That's a future I would be a lot happier every day to wake up in.

>> No.9665322

>>9661164
>baseless FUD
>me wife was e tax collecter oi
>she banged those lads up real good
>aint no way you aint gonna pay yer taxes

Sure thing fucktard

>> No.9665374

>>9664990
>The masses will not wake up until it's too late.
They masses will never wake up, look at China

>> No.9665485

>>9661164
Why do you write such long paragraphs trying to convince people on a basket weaving board? Get a fucking life you German cuck.

>> No.9665559
File: 152 KB, 1200x900, DdcbSXoV0AECu_M.jpg [View same] [iqdb] [saucenao] [google]
9665559

>>9665374
The masses don't need to wake up. That's a communist level pipedream. The anarchocapitalist revolution is not so dramatic, and it relies on nothing more than humans doing what is in their rational self interest, or being punished by the market by their failures to do so.
It takes a complicated mind to understand nuclear energy generation and, it doesn't take a complicated mind to buy kWh at 30 percent below the market rate.
Look at China is indeed pretty relevant actually. How are they trying to actually institute social control in the new China? By monetary means, look up sesame credits. Their plebs don't need to understand anything, just do what the incentives demand.

>> No.9665726

ITT: Oldfags scare newfags into thinkining they're going to jail.

This is the only post I'll make about this, and it's only because I was a newfag once myself. The only thing they'll tax you on is what you pull from your bank account to normiebase, etc. and what you pull from normiebase, etc to your bank account.

Good luck getting SEA chink exchanges to hand over billions of trades and the IRS try to link the addresses to the person, etc.

By the way, the math is the same.
20% on a $10 gain is $2.
If you do this 1000 times, that's $2k in tax on a $10k gain.

Get rekt faggots

>> No.9665824

>>9662100
what did he mean by this?
t. finn

>> No.9665866

>>9663715
the problem though is that the market crashed more than the tax reduction gain in the time you changed the residence...

>> No.9665907

>>9660852
Anon, what sort of trust structure do you use?

>> No.9666063

>>9665726
but how would you actually go about filing this? they have a separate form for your many trades, can't remember the exact form name but I think it's part of a 1099

>> No.9666067

>>9663715
>The smart ones heavily invested in crypto left already. Tax law is nice in that case - you don't pay taxes if you officially change residence and live more than half the year outside the country. For those unable to leave it's however gg no re.
Does not apply to the USA

>> No.9666087

>>9660626
>classic autist using buzzword of the month to feel smart

>> No.9666164

>>9663849
This, they aren't just going to fucking haul you off in the party van right away. We'll get a chance to pay what we owe minus the massive headache of figuring all this shit out ourselves, just send me a bill and I'll pay the fucking thing.

>> No.9666184
File: 23 KB, 671x377, Crypto demon.jpg [View same] [iqdb] [saucenao] [google]
9666184

>>9660615
tell you how i tell them
Suck my dick

I'll be damned if all my sleepless nights trading and stressing goes straight to tax.

Obvious boomer cope and bait, but kys. Real niggas don't pay tax

>> No.9666197
File: 157 KB, 1245x973, 1527128135800.jpg [View same] [iqdb] [saucenao] [google]
9666197

>>9666067
You can renounce your us citizenship though and join the free world just fine. I feel sorry for ameribros. Your country has the most storied history of individualistic libertarianism in the world outside maybe England before it got cucked hard. And look at what it's become; a giant new soviet. "Yes we can" indeed. They jewed you guys hard.

>> No.9666200

>>9666184
>Real niggas
stay real, obvious white boi

>> No.9666202

>>9660999
this
If any of you calculate every trade you make for taxes. I will come find you, and i will beat the shit out of you for being such a ball less cuck. Fuck off biz pussy boys

>> No.9666238

>>9666200
not white, but not a nigloid either
>in b4 spic
Nope
Just know i'm the master race

>> No.9666289

>>9660707
If they don't have your Tax I.D. they can't do shit.

>> No.9666327

has it ever been as socially and economically incentivized to kill rich jews? I mean seriously get large groups of men together and kill a ton of fucking jews until they leave USA?

>> No.9666815

>>9663605
No.
Governments never get the message until you literally kill them and replace them.

>> No.9666859

Another tax thread, another honeypot

>> No.9667045

>>9666815
In progress.

>> No.9667092

>>9660615
Kys you dirty kike. I will buy a lampshade of your sister when all things are settled.

>> No.9667117

>>9660615
Not. Put less than $700 total in and down to $200. Can write it off next year. I'll leave it up to you kikes for making my portfolio 100x with your money.

>> No.9667212

>>9660641
True that
>B-but don't you want a pat on the head by the government?

>> No.9667220

>>9660676
Government owns Americans, basically burgers are property.

>> No.9667342

>>9660999
At least a sane anon

>> No.9667353

Not when I plan on buying everything with Bitcoin BCH because it's a currency

>> No.9667371

>>9660615
>buy coins
>send them from coinbase to hardware wallet for long time storage
>coinbase notifys me of tax form
>login and see a section to download history, it counts me moving coins off coinbase as a profit
t-thanks

>> No.9667409

>>9661651
>Hurr durr I am smart enough, I am smart, hey everyone I am smart.

>> No.9667455

>>9660615
KEk I didn’t pay taxes on crypto and just got an audit notice in the mail from the IRS and I’m not even scared.

>> No.9667696

>>9666238
Found the shitskin Pajeet Indian Curry Poo Poo fuck

>> No.9667717

>cash out to bullion

Problem solved.

>> No.9667765

>>9660615
No I don't, I just pay 1,67% of my total wealth in taxes and that's it. What's it like to live in a country that considers (((((((((them)))))))) to be their greatest allies?

>> No.9667859

>>9667717
can't sell bullion without ID and/or SAR, CTR.

>> No.9668077

>>9660615
> This applies to all countries
F'n please. I called my local tax authority helpline about it, crypto-crypto (including tether) is tax free in Finland.

>> No.9668153

>>9660615
Bill me, I’ll pay. I’m not going to write a check now for it though. You guys act like a team of suits is going bust through your window and haul you off to prison because you owe the IRS $5,000. They’re not.

>> No.9668190
File: 325 KB, 612x792, 1385753260590[1].jpg [View same] [iqdb] [saucenao] [google]
9668190

>>9663570
I've been arguing with these lying kikes for months. It doesn't work. Because it never does.

>> No.9668192

>>9668077
but still 34% taxes and not allowed to deduct losses
JUST

>> No.9668208

You're only taxed on realized gains. Your gains aren't realized unless you cash out. Weak FUD.

>> No.9668246

>>9665726
Exactly.

>> No.9668254

>>9666063
I lumped my buys and sells.

>> No.9668263
File: 13 KB, 229x220, 1519060362361.jpg [View same] [iqdb] [saucenao] [google]
9668263

>mfw all ive done is lose so i can deduct my losses

>> No.9668327

No crypto capital gain in Italy, now suck my dick Shlomo.

>> No.9668534

>>9660615
Sage

>> No.9669055

>>9667353
you still gotta pay the gains on every transaction, including personal purchases.