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15721369 No.15721369 [Reply] [Original]

How does an american trade crypto without getting screwed by the irs

>> No.15721383

Long term capital gains rates are pretty reasonable.

>> No.15721412
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15721412

>>15721369
>How does an american trade crypto without getting screwed by the irs
Move to Puerto Rico no capital gains tax!

>> No.15721513

Just pay your taxes, goy.

>> No.15721550

>>15721369
Hold for one whole tax year so your cap gains become long-term and you can cash out up to the median wage ($50k) at 0% every year
If crypto continues to find adoption, your bags should only appreciate over time
For now, the highest bracket for long-term capital gains is 20% and that's anything beyond $450k in on year.

>> No.15721575

>>15721369
cash out at bitcoin machines.keep your money in cash and be discrete

>> No.15721584

>>15721369
First step is to not make any money. Given that most people here don't then they can never really get into trouble.

>> No.15721604

>>15721550
Are capital gains double taxed as income? If I make 50k a year waging and short term capital gains of 20k do I have taxable income of 70k + gains tax?

>> No.15721628

>>15721604
No you have 50k wagie earned income tax and 20k capital gains tax. There is an extra tax but only for really high earners.

>> No.15721635

>>15721604
You are an idiot. Google motherfucking search

>> No.15721683

>>15721628
You already paid taxes on your income - ironically, much more than people who pay cap gains tax do

>> No.15721812
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15721812

>>15721369
>land of the free

>> No.15722597

>>15721369
can i offer a service to americans that works like:
you wanna evade tax? send me money, i buy crypto and give you crypto. you wanna cash out, i cash out and western union you cash.
tax jews dont know anything.

>> No.15723056

Been trading crypto since 2017 and I've never reported a single transaction.

>> No.15723074

>>15723056
absolutely based

>> No.15723082

Capital gains taxes aren’t that bad, feasibly zero percent or something small is ideal but if you’re pulling in hundreds or millions 20% even 30% is not a bad deal to still be a citizen of the fifty states. Use your profits to found new businesses and real estate. Assuredly this money will work for you now and you can invest the capital gained from the businesses into whatever the fuck your want. A well placed ppizza chain in a large university sells over a thousand slices a day at five bucks after tax. This is feasible on any scaled operation, big or small. Even starting a vending machine buyout or business is appropriate, just do research. The point is it’s super easy to make money in America, in Europe you have income taxes at 45% in some of these countries. Fuck that.

>> No.15723089

>>15722597
Till you extort for the IRS whistleblower rewards they give.

>> No.15723092

>>15721812
>Hurrrrr freedom is not paying my taxes and thus not contributing to our educational systems and social safety nets and roads

Libertarian retard

>> No.15723102

>>15721412
There's absolutely no fucking way that the territory itself doesn't collect a capital gains tax. Maybe federal but Puerto Rico itself is a socialist mutt spic shithole

>> No.15723199

>>15721369
his teeth al fuked up Lel

>> No.15723238

>>15721575
Those have even larger rates than you'd be taxed

>> No.15723296

>>15723092
>our educational systems and social safety nets and roads
roads is literally the only thing on this list worth supporting and they don’t even use the tax money on it. Homeschooling and relying on God and family and friends is kino.

>> No.15723403

>>15723102
he's right but you have to stay there for a year or two before the benefits kick in. If you make a lot of profit they want 4%

>> No.15723535

mfw 0% taxes on crypto held for more than one year

>> No.15723546

>>15723056
Lmao 2 years see you in 5

>> No.15723555
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15723555

>>15721369
>he pays taxes

>> No.15723825

I've lost ~$1800 trying to swing BSV on Robinhood. How can I claim this on my taxes and get money back

>> No.15723844

>>15723825
Dont be silly, if you tell someone you own bsv they'll laugh at you
Im laughing
At you

>> No.15723915
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15723915

>>15723092
>thinking your taxes go to "edukayshun" and not gibs to niggers, beaners and boomers
dumb amerisharts

>> No.15723931

>>15723238
this is true but if you stay under like 900 bucks (at least one near me) it requires no ID, transfer the btc from burner phone, withdraw cash. i don't trade much just don't want to get jewed by IRS; wondering if its easier to just convert btc > fiat on CB since i am such a low level anon

>> No.15724120

>>15723915
This

>> No.15724122

Let's be real nigga, you aren't getting taxed anyways because you actually need gainz. Stop hodling your bags and deduct them from your taxes already.

>> No.15724130

>>15721369
By not asking questions like this publicly in a place monitored by the FBI is a start.

>> No.15724132

>>15721369
Do not use fiat exchanges. Trade on altcoin exchanges directly.

>> No.15724174

HOBDLL

>> No.15724203

>>15721369
Pay your taxes moron.

Your portfolio is negative. But you're still worried about capital gains tax.

The absolute state.

>> No.15724225

>>15721383
fpbp