>If my entire portfolio went up 100x I still wouldn't be a millionaire after taxes

[Anonymous No.13201210]

I've been accumulating all since the December dip, taking money from every paycheck without fail. After that last pump I'm sitting on ~12k in crypto. A little more than 1 btc, ~25 ETH and almost 6k LINK.

I don't want to sell thousands of linkies just to finish my goddamn staking stack, so be honest with me frens. Am I going to be able to retire on this? Where do I need to move to make it happen?

[Anonymous No.13201247]

>>13201210
Your gonna make it. Might not be this run but your undoubtedly going to be a millionaire within 5 years.

[Anonymous No.13201311]

>>13201210
If you’re an American and hold for a year and make less than 39k taxable income then you pay 0%

So if you make more than 39k, max out your 401k, HSA, 529.

With all that you should be able to write off around $80k. If that STILL doesn’t bring you under 39k you can prob write off donations or some shit but either way the next bracket is only 15%

[Anonymous No.13201343]

>>13201247
>your
>your
>udoubtedly
Do the needful

[Anonymous No.13201511]

>>13201311
Enjoy getting audited if you do this

>he thinks he can outsmart the tax man in 2019

[Anonymous No.13201544]

>>13201311
>>13201511
how the fuck do you keep getting dubs

Actual question: Are you telling me to cash out my gains real slow-like, because my point was that if I 100x (and get 1.2MM) and cash out then I'd definitely pay a fuckton of taxes.

[Anonymous No.13201564]

>>13201210
Yes fren eth will pump to 200 this week but will trade between 2-300 for a couple months so u will still get it at a good price. Link will moon before q3 so i would focus on getting 10k first

[Anonymous No.13201585]

>>13201210
>paying taxes
>not trading crypto for gold

[Anonymous No.13201605]

>>13201544
Whatever you hold for a year and past that will be capital gains. As long as you document the length you’ve held everything and have proof you will pay the cap gains rate. 39k is the 0% bracket but it’s taxable income so you lower your taxable income by putting money in pretax accounts

Say you make 40k a year. Contribute at least 1k or w.e the exact number is for capital gains (it’s actually like 38600 or something) and you’ll change from paying 15% to 0%

If you are doing say link you need to document the link-eth/btc/usd etc and show that you just basically cashed out. The irs isnt going to care if during that link-btc period that you made 10 dollars off btc going up in that period, not 10 dollar loss if it goes down by 10 In that’s period

I personally am not buying anymore crypto at the moment so I can keep my total stack consistent without going back and analyzing for when It’s been a year for holding 50 link

Sucks id like to buy more but it’s just easier this way and I’m at my point of as much as I’m willing to lose on crypto anyway

[Anonymous No.13201607]

Guys i just totalled my car and got 6-12k to throw in the market depending on how balls out I want to go. Where is the next moon to throw this in. Should i pull out my BC? This ride over?

[Anonymous No.13201652]

>>13201605
Do capital gain taxes work like income tax brackets? As in, even if I say, make 49k I'll only pay 15% on the 10k above 39k?

[Anonymous No.13201731]

>>13201585
Fucking this. Skim a little off the top as crypto rises to buy PMs then when crypto goes back down sell some PMs to buy crypto low.

[Anonymous No.13201779]

>>13201652
Yes it’s the same thing but you have to hold the investment one year with documentation

Since you kept buying here and there it will be more annoying to confirm everything to get the correct rate, but it will pay off more than likely but timing is key here and you may need to dump your bags before a year is up

So if you buy 1 link on Jan 1st 2018 you can sell a year later( I think this is based on days not necessarily the same date a year later, could be wrong) say on Jan 2nd 2019. Then Jan 2nd of 2018 you bought 1 link, if you sell it with the other link on Jan 2nd you’d end up paying normal taxable income on it

Also I just googled 529 lump sum and I guess it’s not pretax like I thought so realistically you can only bring your income down by 19-23k with 401k and HSA

[Anonymous No.13201892]

>>13201779
This is where it's worth it to use a service like bitcoin.tax. Import all transactions from exchanges and it calculates it all for you.

[Anonymous No.13201928]

just cash out overseas nigger fuck
I will help anyone cash out here if they need to, if they ever make it. Use a smartcontract, once LINK comes out, you won't have to trust someone that might scam you or whatever, we 4th industrial revolution.
Nigger.

[Anonymous No.13202034]

>>13201511
>>13201311
what was the point of this samefag? Seriously, explain

[Anonymous No.13202286]

>>13202034
>same dubs on both posts

What did kek mean by this?

[Anonymous No.13202335]

>>13201210
Same here friend. But If Xrp goes to 50 bucks I will be

[Anonymous No.13202336]

>>13202034
>>13202286
How did you guys know that I samefagged? I’m not using a trip wtf

[Anonymous No.13202397]

>>13202336
Please kill your self

[Anonymous No.13202438]

>>13201311
>>13201511
>arguing with himself
the absolute state of /biz/

[Anonymous No.13202515]

>>13202336
Imagine being this fucking stupid. Firstly for arguing with yourself and secondly for not realising how you got rustled. Lmao.

[Anonymous No.13202662]

>>13202336

[Anonymous No.13202676]

>>13201210
No xrp
No retire

[Anonymous No.13202696]

>>13201511
kys

[Anonymous No.13202701]

I know that feel OP. You just need patience. Luck too but you can't make it in this game with just that.

[Anonymous No.13202779]

>>13201511
>>13202336

[Anonymous No.13202791]

>>13202336
>>13202336
>>13202336

[Anonymous No.13202803]

>>13201511
>>13202336

[Anonymous No.13202830]

>>13202336
Back to r*ddit

[Anonymous No.13202853]

>>13202336
>>13201311
>>13201511
When newfags don’t know about IDs

[Anonymous No.13202998]

>>13201210
niggie come to Portugal... no crypto taxes : ]

[Anonymous No.13203252]

I'm getting fed up with the blatant racist comments and the complete disregard for minorities. It's almost 2020 hence racism should be eliminated by now.

[Anonymous No.13203354]

>>13203252
(((You)))

[Anonymous No.13203359]

>>13203252
kekekekekek the bait is weak bruv

[Anonymous No.13203382]

>>13201210
>paying taxes
>cashing out

Never going to make it.

[Anonymous No.13203404]

>>13201511

IM CRYING OF LAUGHTER THE IDS

[Anonymous No.13203653]

>>13201511
Fucking lel

[Anonymous No.13203759]

>>13201511
LMFAO

[Anonymous No.13203779]

>>13201511
>>13201511
PFFFT HAHAHAHAHA

[Anonymous No.13203833]

>>13201511
>>13201311
HAHAHAHAHA newfags don’t know about IDs

[Anonymous No.13204704]

Thanks for all the help, guys, and especially thank you >>13201311
>>13201511
I now know that the crypto market is ACTUALLY Back if newfags like you have arrived lmao

[Anonymous No.13204792]

you have 6k link so if you dont go full retard and sell early you will def be a millionaire

[Anonymous No.13204829]

>>13201311
>>13201511

[Anonymous No.13204846]

>so mani newfags
>how does one hodl all thiz newfegs
>????
>profit

[Anonymous No.13205119]

>>13201311
>>13201511
KEK

[Anonymous No.13205727]

>>13201311
>>13201511

[Anonymous No.13205787]

>>13201607
Buy a new car, retard.

[Anonymous No.13206721]

>>13201210
go all in on link, once the mainnet launches just set up a node and you're set for life. It is better to create passive income than having a big wad of cash

[Anonymous No.13206742]

If you cant outsmart the taxman with crypto which was designed to outsmart old money and you retards go and bring them food on platter with your stupid self declarations. Whenever some retarded gov office plant hears the word "crypto" he goes into startled turbo alert mode and will shred anything. If he won't understand something he will interpret against you, every dubious or even favorable circumstance will be turned and interpreted against you.
Do not file, do not declare, keep low key. Be the swiss millionare who drives vw jetta/golf and takes it easy.

[Anonymous No.13206774]

>>13206742
where do you liquidate your gains then? Surely bank will flag large or regular deposits from crypto earnings. I can't see any viable method of cashing out without moving country.

[Anonymous No.13206786]

>>13201511

Haha faggot you can’t get audited if you never file in the first place.