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13719956 No.13719956 [Reply] [Original]

Its 2021 and you've made (and liquidated to a stablecoin) $1-2m. How do you cash this out without paying taxes?

>> No.13720104

Moving to a tax haven and then never setting foot in your home country is the only way. If the government stops getting taxes from you but see you're living in a mansion/good neighbourhood, driving a luxury car, magically own a huge securities out of nowhere, etc., you can expect yourself to be randomly selected for an audit.

>> No.13720111

>>13719956
Nice try, IRS.

>> No.13720114

Buy gold then sell gold to some Jewish merchant

>> No.13720122

Just don't cash out

>> No.13720131

buy stuff from niggers with stablecoin then resell it to other niggers to have cash
it will be long quest to complete, but you can come across so many things you will feel yourself like playing GTA story in real life

>> No.13720176

Is buying gold with crypto and then selling it somewhere not a good idea? Seems like the easiest one to me.

>> No.13720197

>>13720114
>>13720176
Yes goy, Bitcorn bad. Buy gold-plated tungsten bars instead.

>> No.13720206

>>13719956
Imagine being dumb enough to post a thread like this on a website with 24/7 FBI surveillance.

>> No.13720236

>cash out enough to live meh for a year and taxes
>pay good goy taxes on that
>rent a decent shithole in Puerto Rico
>enjoy legally cashing out the rest of my earnings tax free when residency is confirmed
>enjoy not losing US citizenship
>hang out on the beach while planning my next steps while waiting for my bags to clear

>> No.13720645

>>13720236
I think that will happen more in the future, different countries competing to offer a better deal to people.

Another way is to just not cash out. Actually think about this:
Why do you want fiat?
Seriously consider what you are going to do with it.
Just to have a high number in some jew bank?
Houses, rent, women, food, bills, airfares, Amazon items, Uber gift cards, Netflix giftcards. It is a little more effort but it is possible, right now.
Don't cash out.
You can buy the things you need with Bitcoin.
Bitcoin CASH. (The real Bitcoin)

>> No.13720650

>>13720206
tax avoidance is not tax evasion, retard

>> No.13720670

>>13720104
THIS, just want to add, that have wait 1 year (generally). If you don't wait you will be cashing out while still considered a tax resident...Oh, again generally don't move back for 5 years.

Burgers are totally fucked & need to relinquish citizenship before making it or the kikes will want a huge payout before you leave.

>> No.13720671

>>13720645
because as of this moment, living a day to day life, or even investing in traditional assets is not worth the hassle using crypto yet.
when it becomes possible to earn a passive income comparable tradition fiat instruments maybe I'll consider never "cashing out" into fiat. I'm in it for the longer term anyway, maybe this dream fantasy will become a reality within a few short years.

>> No.13720684

>>13719956
it's better to use your crypto as collateral for credit, then just make sure you pay back everything on time.
You'll never have to sell.
Just make sure you aren't a piece of shit and can create revenue with the money you're receiving.
You can create revenue, can't you, anon?

>> No.13720714

>>13720236
>living in Puerto Rico, getting your shit rocked by Hurricanes every year like clockwork
>getting the electricity on the whole island cut sporadically
>living around desperate people with limited police enforcement

RIP in peace, anon.

>> No.13720751

>>13720714
Or be gone 3/4ths of the year and rent that bitch on airbnb. Who is going to come knocking regularly to make sure you're actually living there the entire time?

>> No.13720764

>>13720751
wait, are you now implying that you would buy real estate out there?
yikes.

>> No.13720877

>>13720670
Burgers have to move to Puerto Rico

>> No.13720879

>>13720764
Are you implying that buying a property to establish residency, to move a vastly larger sum of money, and then rent out in a territory with a massive tourism industry? When it's almost a running meme on this board about how millenials and zoomers like to blow all their sheckles on traveling? Ok bud.
Yeah there are still loads of pooskins, but it's still America and you're coping if you think the entire island is a shithole.

>> No.13720894

>>13720714
It's really not that bad. Have to be there half the year but can avoid hurricane season and live somewhere outside the capital for safety. Even the capital isn't that bad

>> No.13720940

>>13720104
1) Some countries have double taxation agreements, so you can legally bring back all the money without being taxed.
2) if you just bought and you never traded it or sold it, technically you did not made any profit, so if you move your fiscal residency and cash out abroad, tax will not apply
3) if you traded in us and made a profit in us, well, you are risking a little bit

>> No.13720976

>>13720940
>1) Some countries have double taxation agreements, so you can legally bring back all the money without being taxed.

If you are living in the EU, move to Portugal for a bit, cash our for 0% tax on crypto and move back to your EU country of origin.

If you live in Germany, just hold for a year and cash out tax free.

>> No.13721011

>>13720206

Imagine being so stupid that you actually believe governments have competent people in them. Their power is an illusion and if you don't comply, 99% chance nothing will ever happen except you'll be much richer.

>> No.13721724

>>13720976
>move to Portugal for a bit, cash our for 0% tax on crypto
wow, didn't know, thx anon, sounds like a great plan for 2022

>> No.13721783

>>13719956
The important part is HOW you exchange your erc677 to usdt. You have to first transfer your tokens to another binance account. Here you trade to usdt. Then you leave to study in Singapore. If you dont live a wellfare state that pays your tution fees there you will have to cash out about 100k to get Singapore visa. When in Singapore you rent the cheapest appartment you can find and fuck off to cheap neighbouring countries to have fun for 6 months, cashing out some tokens and paying tax like a law abiding citizen to your home country (trades with tokens bought home in first 180 days count as home tax). After 181 days you take and buy back linkies on secondary binance account. Obviously, you dont buy not even 0.1link more than you had. You transfer linkies back to your normal account, and sell them again. You say you were just storing them on the other binance account. You have now cashed most of your erc677 tax free.

>> No.13721784

>>13719956
id just pay taxes
im more upset about having to figure out paperwork then actually paying the money

>> No.13721801

>>13719956
use it to import goods pay with crypto sell for cash only pay tax for the "profits"

>> No.13721805

>>13721783
keep in mind this is basically the most risk-free method, of course you will find more cost-effective methods where you dont pay tax at all, but those always involve some levels of stress which I definietly dont want to worry about after making it.

>> No.13722033

Puerto Rico idea is honestly the best I’ve heard so far. Then it’s all averaging if it’s worth living in PR for half a year or paying taxes.

I hate the heat so I’d go there winters and could legit rent the place out in the busy season to tourists. Thanks for the heads up Bizraelis, probably just pay my taxes tho cuz I’m a lazy fuck and just want to quit working and NEET it up.

>> No.13722383

>>13719956
If I cash out less than $39k, I dont pay any taxes.

>> No.13722393

>>13722033
There's something to be said for spending time in a different country and just gathering your thoughts and planning out how you'll live your life.

Not saying PR, portugal, malta etc are the place to do that, but IMO you'll want to go travelling with the link money anyway, why not do that as part of the exit process.

>> No.13722397

Nice try IRS i'm not telling you shit

>> No.13722454

>>13719956
Just pay your damn taxes who cares if you have 1.2mil and have to pay like $200k in taxes you still come out a millionaire and you don’t have to look over your shoulder the rest of your life. Let the Jews have this one.

>> No.13722456

I’d rather fork over 20-30% of my money than live among shitskins

>> No.13722498

>>13720879
>explicitly wanting to stay in America
>explicitly wanting to stay in a third world country
>living somewhere for half a year to avoid paying a small amount of capital gains tax
>making such an effort not to make an effort

Living in Puerto Rico for half the year is going to be it's own form of work. Like locking yourself in a cage, just so you can better enjoy the time out of the cage.

>> No.13722502

>>13720114
Yes, give all the metal with any intrinsic value to the kikes, good one. As if they don't control enough....

>> No.13722714

>>13720976
It does not work
>>13719956
You can't
t. I tried

>> No.13722732

Best solution for EU yoropoors?

>> No.13722790

>>13722714
Did you try Portugal or Germany
How long did you stay there before trying to cash out

>> No.13722812

>>13722714
>You can't
How much effort did you put in? Why did you quit?

>> No.13722905

>>13722454
taxes in my country is 50% and what if I only earn 100k

that's why im planning

>> No.13723006

>>13719956
Just sell less than $400k/year and you will only pay a 15% tax on it. Also move to a state that doesn’t tax capital gains and you won’t pay a cent more.

>> No.13723060

>>13722714
You'd need to be no longer ordinarily resident in your home country which may take a few years (3 here) but after that why wouldn't it work?

>> No.13723227

>>13719956
open fake company in some tax heaven through a lawyer, open a bank account through said lawyer, get debit card, withdraw money as needed.
that's how people do it AFAIU.

>> No.13723253

>>13720236
you know you have to pay taxes to the US govt while living abroad, right?

>> No.13723395

>>13720236
You gotta love there for 10 years for taxes not to apply

>> No.13723486

>>13719956

Step 1) don't be a burger

>> No.13723650

>>13723253
Puerto Rico is part of the US, retard. Live there for one full year and don’t pay federal personal income tax.

>> No.13723718

>>13720131
damn, this might be the best way, just for the experience

>> No.13723736

>>13720122
this is the only real answer.

>> No.13723737

>>13720131
buying shit with bitcoin is a taxable event in my country

>> No.13723745

>>13719956
>convert everything to monero
>buy drugs
>flip dope
>profit even more

I mean cmone, you will use cocaine, at least this one will be fucking pure

>> No.13723755

Easy. Don't be born with the misfortune of being an (((American))).

>> No.13723803

>>13722732
buy malta citizenship (250k) through bond purchase and cash out through some overseas brokerage paying 15%, which will be basically re-paid after bond will finalize itself. 5-10 years, unironically it will also become your pillow for fuck ups as you will get some money in the end

>> No.13723849

>>13723803
you dont need the citizenship to be exempt from income tax

>> No.13724063

>>13723849
sure, but you will
> Get a citezenship from not a shithole
> Get a safe pillow backing you up

>> No.13724763

>>13722790
No but other similar low tax/no tax countries
>>13722812
2 years of effort-ongoing still. Closed all my banks, own nothing in my country, left family/friends/gf behind, quit my job and dropped out of uni. Basically completely switched my life to a new country. Did everything "by the book".
100% effort. It ruined my life and I got rekt by the market (keep in mind stablecoins besides tether were not available then)
>>13723060
I mean yeah then it would, but living away from home in some shithole country for the sole purpose of paying less tax for 5+ years are one of those things that sounds good in your head but sucks dick in reality. Also once you have your "made it amount" what do you do?
Stay in the market? Trust shady stablecoins for several years? Keep in mind crypto-crypto trading is also taxable in some countries. However you look at it, you are almost guaranteed to get assfucked in some way. Murphy's law.

>> No.13725019

>>13724763
Capital gains tax here is 40%. If crypto really moons a few years abroad is definitely worth it.

>> No.13725327

If youve made 2million from wagecuck money why do you care about paying capital gains tax? Just hire an accountant and pay your taxes.

>> No.13725534

>>13725019
Yeah that is fucked up, it is similar in my country. But you are ignoring the point: how would you actually do it? Crypto moons and you have 7 figures at the top? But even the stupidest anon by now should know that the highs will not last. So you can't sell yet, what do?

The truth is, while you might save 40% in taxes if you are lucky, you will lose 60% holding crypto waiting for your fiscal residency to change. That is what happened to me. Even if I somehow now got away with 0% tax (I wont) I still would have made a net loss from ATH compared to selling then and paying my ~35% tax.

The only way for what you are thinking about to work, is to move now already, and then hope that you make it in 3 years when you can trade tax free. But that is a risky bet to take. You should also be prepared to pay 10-50k in lawyers fees and living expenses while you deal with all the tax agencies etc. If you do actually go through with it unlike most shitposters here, remember I warned you when/if it doesn't go according to plans

>> No.13725543

>>13719956
I simply do pay the taxes, you fucking leech

>> No.13725570

>>13720645

>Why Fiat

Bit coins hits a gorillion dollars you have infinite money, then one day all governments of the work tax it and everyone pulls out at once due to fear. What happens to your money

>> No.13725827

>>13725543
Calling someone a leech for not wanting to pay 40% capital gains tax? Lol, fuck off wagie.

>> No.13725867

>>13725827
Yes I am indeed calling you a leech for doing something that a leech would do.

>> No.13726146

>>13719956
Can the government see if I buy stuff with crypto? Say I made $10,000 on shitmex and bought gold bars and shipped them to my house, will the government know?

>> No.13726475

>>13720645
“Puerto Rico”
“Different countries”

Anon, I...

>> No.13726624

I haven't sold any of my coins after buying them with fiat. I can go wherever I want to cash out right? Since I haven't realized any profit yet.

>> No.13726626
File: 229 KB, 792x1600, Mine.jpg [View same] [iqdb] [saucenao] [google]
13726626

>>13724763
Did you get a permeant residency? If you go to lets say Panama (other choices available) for ~$5k you can get a second residency...they only charge tax on what you make in Panama. You can show your government you have residency, pay rent for appt/flat, Register @ doctors ect. Just wondering where your from? What country did you choose? Why you are having issues?

>> No.13726650

>>13720131
lol

>> No.13726668

>>13722454
This pretty much

>> No.13726706

>>13726624
If you're a US citizen no. The only way to get these assets at a 0% tax rate is to wait for at least a year for long term capital gains rates and then have an AGI less than ~36-40k. So unless you're selling these assets to live off of, you'll pay some tax on these.

All US citizens are taxed worldwide on their income. If you renounce your citizenship you have to realize all gains and these is also a small exit tax. If you move to Puerto Rico then you can keep your US citizenship and get 0% tax rates on assets that you buy after moving there, but there is nothing that you can do for the assets that you've already bought.

>> No.13726710

>>13726668
Burger spotted

>> No.13726721
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13726721

>>13725543
>leech
lol

>> No.13726738

>>13726706
>and get 0% tax rates on assets that you buy after moving there, but there is nothing that you can do for the assets that you've already bought.
This is how I would have thought it worked...you can't get out of what you already owe...thats tax evasion, no matter where in the world you are from.

>> No.13726742

I don't see why you have to move to a "tax haven". Even if you move to a normally taxed country how is the new country going to know how much money you are supposed to have? Like you move from the US to England. Cash out your crypto million to your England bank account. England doesn't know how much money you are supposed to have in the bank. They are probably excited that you are going to spend a million in their country.

>> No.13726753

>>13719956
>without paying taxes.

The entire trade would have to be set without using the US financial system, and then any trade you make with the crypto currency would have to be made with nothing but the crypto currency. Sales tax would need to be calculated by the seller, and converted into USD to pay the sales tax.

>only paying income tax
same as above, but with the final cash out into your bank account. Usually if you don't have a job, and you don't make over 20,000, your income tax is waived.
>check your state

>normal rout
Pay for crypto. no tax.
Trade crypto. 1.5% tax on gains ( $1.50 for every dollar you make)
Sell crypto. 1.5% tax on gains
Sell crypto for USD. Income tax (up to 30% if you make $20,000)
>check your state for income tax and capital gains tax max amount to make b4 paying taxes

>> No.13726850
File: 32 KB, 546x426, 1530643533819.gif [View same] [iqdb] [saucenao] [google]
13726850

>tfw comfy second world eastern europe country with no tax on crypto gains
>tfw get to keep all my gains once i make it
get fucked burgers

>> No.13726904
File: 31 KB, 720x513, 1556935949776.jpg [View same] [iqdb] [saucenao] [google]
13726904

It's not that I don't want to by taxes I just don't want to have to deal with all that bullshit paper work for 150$ to 200$ investments since I'm a fast food wagecuck with a very small attention span.
I just wish there was someone or something that would automatically file my small ass investments to the irs during tax season without me having to think out it.