how to avoid taxes 2.0

[Anonymous No.16093677]

Last thread from other anon was dumb.

Let's say you make it tomorrow and you live in the u.s. How do you avoid capital gain tax?

I'm pretty sure I would have to go to another country, but then what?

Would I have to be a citizen? Would I have to open a bank account with them then transfer my funds from there into my u.s. bank account?

Help me avoid getting money STOLEN by the government. They are NOT entitled to my capital gains.

[Anonymous No.16093741]

>>16093677
I don’t think you can avoid all of it but you can avoid some by forming a corporation and having it hold most of your assets. You can then write off all sorts of stuff as business expenses. Corporations proportionally pay much less tax than individuals for reasons. Keep in mind too that tax avoidance is kosher but tax evasion is a crime. I’m appalled by some of the shit tax money is spent on but I still feel an obligation to give something back considering I use and have used some of those services.

[Anonymous No.16093742]

If you make it you can hire a sketchy accountant and financial advisor to avoid those taxes.

[Anonymous No.16093746]

>>16093677
Even if you go to another country you'd owe taxes to that country and then you'd still owe taxes to the US unless you renounced citizenship. And even if you renounce citizenship you have to pay a fee for that and pay "exit tax" on all assets. And if you evade all that if you transfer money into a US bank account over $10k it's automatically flagged and reported to FINCEN.

[Anonymous No.16093749]

>>16093677
Just pay your fucking taxes?

It's like 30%,less with a good cpa, then you get to continue living in your country.

[Anonymous No.16093759]

>>16093741
>I still feel an obligation to give something back considering I use and have used some of those services.

That’s your problem. Stop feeling bad about taking advantage of an unfair and tyrannical system.

[Anonymous No.16093836]

>>16093759
That’s a nice revenge fantasy and all but the reality is that the IRS will fuck your shit up; you’re paying taxes, pretty much no matter what. At least my way I can delude myself into feeling it’s somewhat ok.

[Anonymous No.16093847]

I know it's not a solution but just keep it in a stable coin like usd coin until u wanna spend it

[Anonymous No.16094053]

>>16093677

If you have to ask you are too brainlet to do it and the IRS will catch you.

[Anonymous No.16094112]

>>16094053
I think Ill just ask an accountant online. Ugly

[Anonymous No.16094274]

>>16094053
also, Im not looking for illegal ways, fool. There has to be a legit way. I mean if fucking amazon can pay ZERO in income taxes, I should be able to do the same with capital gains.

FUCK america

[Anonymous No.16094302]

>>16093749
Fuck you , we know who you are. Criminal pieces of shit

[Anonymous No.16094331]

open an account in panama and launder it through there you fucking idiot

[Anonymous No.16094353]

Hello IRS

[Anonymous No.16095009]

>>16093749
>Dude, just pay 30% to fund white genocide and wars for israel, LMAO

[Anonymous No.16095020]

Get collateralized loan using some of your assets as collateral.
Pay off loan using more assets.
Loan money is not taxed. You're welcome

[Anonymous No.16095051]

>>16093677
Puerto
Rico

[Anonymous No.16095068]

>>16093677
get a 2nd passport
renounce u.s. citizenship
you need less than $2m net worth to avoid exit tax. maybe you could have an unknown amount of monero though.

[Anonymous No.16095092]

>>16093677
stfu reddit spacing faggot

[Anonymous No.16095104]

>>16095020
Does this actually work or is it just a meme? Or in other words, could you do this with serious money (7 figs+) or just mickey mouse money the average /biz/raeli is playing with?

[Anonymous No.16095233]

>>16095104
It's a little risky but yeah you can use debt to keep your liquidity and get more rich. If you have serious money you should hire smart financial advisors. They had me put it in a wealth management / investment firm and they gave me a collateralized line of credit up to 75% of the value of my investment portfolio. So I paid the taxes off with that. And then I also used it to start a business and had 160k of tax deductions. And my stock portfolio went up by 100k. And my business is generating a profit now. But the market could have went down and I could have fucked up on my business.

[Anonymous No.16095295]

>>16095233
Thanks anon. However, I don't get this part:
>So I paid the taxes off with that.
What is the purpose of getting a LOC to pay the tax? Sooner or later you need to pay off the LOC itself, so what was the point?

Also:
>They had me put it in a wealth management / investment firm and they gave me a collateralized line of credit up to 75%
Any chance of getting kiked (robbed) by the advisor or lawyer or accountant or what have you in the process of doing this?

[Anonymous No.16095380]

>>16095051
Pls someone help with the PR meme. What would it really take?

[Anonymous No.16095394]

>>16095295
>What is the purpose of getting a LOC to pay the tax? Sooner or later you need to pay off the LOC itself, so what was the point?

Time value of money. It's kind of just kicking the can down the road so you can use the money now to make more money. If you cashed out 1 million in california you'd pay about a 46% effective tax rate. Instead of just paying that right now and having your liquid net worth cut down by almost half you can acquire 1 million dollars worth of income generating assets and pay down the debt over time and make a lot more money. Or you can pay all the taxes now and invest whatever's left over and make less money.

[Anonymous No.16095447]

>>16095394
Ok I see what you mean now, thanks for the clear explanation.

[Anonymous No.16095464]

>>16095394
>They had me put it in a wealth management / investment firm and they gave me a collateralized line of credit up to 75% of the value of my investment portfolio.
Going back to this, I am assuming your investment portfolio remained in crypto, so in that context, what does it mean to put your crypto portfolio in a wealth management firm?

If my assumption is wrong and the crypto was sold prior to the transfer to wealth management firm, how did you avoid the taxable event on that sale?

[Anonymous No.16095487]

>>16093759
Don't complain when that tyrannical system finds out about your evasion and steps on you. Unless so of course you have several hundred million and can buy politicians

[Anonymous No.16095508]

>>16093677
Buy 500k of property in Portugal and cash out there

[Anonymous No.16095522]

>>16095464
Can't answer for that guy but
There are lenders that will let you use crypto assets (typically BTC, but also sometimes ETH) as collateral for actual USD loans. With research you may find there's no need to incur IRS visible taxable events to access equity.

[Anonymous No.16095549]

>>16095522
I see. I'm assuming in that case that there's no transfer or escrow involved, as long as you can prove that you own the private key, they'll provide? Anyway will research that, thanks.

[Anonymous No.16095552]

>>16093759

Have you ever used a road, or a library or a vaccine funded by government research grants? Pull your weight faggot.

[Anonymous No.16095686]

>>16093677
OP.... Sit back, get a glass of wine and buckle up for your legal way to never pay tax.

[Anonymous No.16095711]

>>16095686
First, as a US citizen, you're charged on global tax earnt which means you're fucked.

What you need to do, get another citizenship with a 0 tax country like St Kitts. (Research this more) you don't have to go there ever and it's only $100,000 for the citizenship + fees (109K approx).

Second, since you're now rich, get another base in a different country with territorial tax or live in three different countries for four months a year. I've got a base set up in AUS, looking to get one in Asia and one in Europe.

You've got two citizenships now and a new residence. Time to tell the US government that you don't want to be robbed by tax. Denounce your citizenship. You can't denounce unless you have another citizenship. You can return any time you want, you just have to apply for a return residence visa.

Next, fuck off to your new country of residence. You now pay 0 tax, congrats but it's in crypto so you need to get some into fiat at least.

See next post

[Anonymous No.16095737]

>>16095711
Start a bank account in Georgia but to do this you should erase your tracks a bit. Pop all of your money into BTC then exchange it for XMR. Then send that XMR to another XMR address for safety. Exchange the XMR again for btc but you'll now have a fresh wallet with no tracks. I'll get to why this is important later.

Go to an exchange that can transfer to a bank account and send it to your Georgian bank account. They don't report your banking info to other countries. They accept money from all countries without question. It's the best country to bank with.

Now the reason why you wash your money is because the US still has a claim to your crypto because you earnt if while you were a US citizen and they can prove that if you use centralised exchanges, thus cleaning your btc hides that trail.

Now you've got fiat and crypto that can be exchanged at any time. Congratulations, now since you've made a lot, it's time to give back. Donate to medical research so you can save lives.

[Anonymous No.16095753]

>>16095737
>medical research
>being so bluepilled you are unaware that the cures for everything from diabetes, ED, blindness to cancer have already been discovered but are ignored and hidden because they are less profitable

[Anonymous No.16095782]

>>16095737
>Go to an exchange that can transfer to a bank account and send it to your Georgian bank account.
How does this plan not fall apart here? The exchange will have your info.

[Anonymous No.16095802]

>>16095753
I'm investing so I can become a cyborg.

>>16095782
You're not a US citizen once that happens so it's safe. The exchange can report to the government but they have no jurisdiction over you if you did the transaction after you denounced.

There are also services like local Bitcoins and such but that will take a significantly longer time to get done.

[Anonymous No.16095821]

>>16095802
Ok fair enough. I'm a leaf though but I suppose a similar approach would be required.

How much of your money would feel safe leaving in a Georgia bank account (or other similar kinda shithole country)? This part seems risky to me, so I guess I would have to keep most of it in crypto and transfer to fiat on an ad hoc basis.

[Anonymous No.16095856]

>>16093677
>How do you avoid capital gain tax?
You renounce BEFORE
>I'm pretty sure I would have to go to another country, but then what?
Get citizenship elsewhere, be finally free
>Would I have to be a citizen?
Nope you don't even have to be permanent resident, it depends how long you want to stay.
>Would I have to open a bank account with them then transfer my funds from there into my u.s. bank account?
If you don't renounce what ever bank it is WILL report to the US via FATCA. They will raid your account for any back taxes.
Sadly what this anon >>16095737 is suggesting, only works for people that are already citizens of free nations. AKA not Mutts.

[Anonymous No.16095867]

>>16095821
I'm Aussie, most westerners have to take this approach.

As much as need really, it's stable if you keep it in USD but if you want to take a gamble, the bank offers 22% interest per year if you store your money in the Turkish lira.

A general rule with all banks is put in whatever they can cover. If a bank fails in Aus the government gives you upto 200,000, thus, never have more than 200,000 in an Aussie bank account. Georgia will have the same system but the exact amount I don't know.

You can open up a Georgia bank account online, just need $5 USD from memory.

[Anonymous No.16095875]

>>16095821
>How much of your money would feel safe leaving in a Georgia bank account (or other similar kinda shithole country)?
Can't believe a Canadian is saying this. Are you blind to whats going on in Canada? Besides, you open a few accounts in countries like Georgia with high interest rates, to spread your risk around the world.

[Anonymous No.16095878]

>>16095856
I disagree, I'm Aussie and my nation is less free than yours yet I'm almost about to complete this process. Take a gander at Nomad Captialist on YouTube, he basically saved me from having to pay any tax.
There's always a way around paying taxes, the rich always find a way.

[Anonymous No.16095886]

>>16095875
Based. It's a better hedge and the first world nations can only grow so much before the crash, second world countries have much more room to grow. It's like investing in a coin with 100B market cap vs a 1B market cap.

You really need to be ontop of the news with the countries you invest in though and have an exit strategy in place.

[Anonymous No.16095911]

>>16095875
I'm aware. But I have 0$ in a Canadian bank account (I'm ALL IN crypto). What does that have to do with Georgia?

>>16095886
>You really need to be ontop of the news with the countries you invest in though and have an exit strategy in place.
I've wondered in the past what is the actual purpose of wealth managers and the like, but seen this way it begins to make a lot of sense.

Btw at what level of wealth does this entire strategy begin to make sense?

[Anonymous No.16095913]

>>16093741
Everything you posted is wrong. An LLC can hold investments, but it's pass through - the owners of the LLC are liable for any profits, losses, and taxes associated, and you don't get favorable rates - and any profits withdrawn are considered income and taxed according to Fed tax law and state, if applicable. You're also only able to write losses, amortized over a multiple year period. There would be literally no benefit to forming an LLC to avoid taxes, as an individual - and as you won't be able to write off much, your personal deduction would almost definitely be bigger than any write-offs you'd claim. And, as a bonus cherry on top, if you make up deductions, and get caught, that's tax fraud territory, and that's the criminal side of the IRS - have fun in pound me in the ass prison then.

[Anonymous No.16095962]

>>16095913
he didn't say LLC, he said corporation

[Anonymous No.16095967]

>>16095911
Don't trust wealth managers, your money, your responsibility.

Well, I have two factors to make this decisions, I'm sure given the similarities between our countries this would apply to you as well.

1. If you're paying the max tax rate, for me it's 48%.

2. If you can get a ROI of the cost of your new Citizenship within two years.

If you think of it this way, if you paid 48% in tax and you know of an investment that could X2 in a year you're unrealised tax rate is 96% because you couldn't reinvest that money.

Before you do this, ensure the 100K to get the citizenship is clean. Pay tax on that 100K, take the loss, it's okay.
Some countries.like Grenada accept Bitcoin and they don't disclose to others governments about your citizenship. Grenada might not work for your tax plan or how you want to live your life though. I spent 9 months researching this before I figured my plan out.

[Anonymous No.16095975]

>>16094274

Now you are being watched by IRS and CIA, congratulations fag

[Anonymous No.16095976]

>>16095913
Based

[Anonymous No.16095977]

>>16093677
>How do you avoid capital gain tax?
You can't, as an individual. You can just accept that, and move on. Smarter people than you can imagine have looked for loopholes and closed them years, if not decades ago. You are not smart enough to fool them - and what you're proposing is a felony, the kind you WILL get caught doing, and go to jail for.
You can cry about "taxes are theft!" all you want, but the only way you're gonna avoid paying taxes is to break the law, and you're on your own there. Want it to change? Become a member of Congress and start an effort to change the tax laws. Don't like it? You're free to leave - but any money you make while holding a US passport WILL be taxed.

[Anonymous No.16095990]

>>16095962
An LLC IS a corporation, waterhead. Limited Liability CORPORATION. And, the same rules would apply to a C corporation, but that's even more worthless for a NEET holding internet coins in, and the only way to withdraw profits as personal income - and the same laws apply.
I won't even bother going into S corporations, because that's even sillier to imagine for some neet to hide his internet shekels in - and would not accomplish what you think it would.

[Anonymous No.16095998]

>>16095686
I thought this was sarcasm but then you delivered. Thank you anon

[Anonymous No.16096006]

>>16095967
This could be the most useful thread I've ever seen on /biz/. Cheers tax saving anon.

[Anonymous No.16096017]

>>16095990
>>16093677
only good way to minimize capital gains tax is holding long term and not trading during that year, then cashing out under 35k+standard deduction per year for a 0% rate

>>16095051
>>16095380
some guy here said they stopped the benefits, and you had to live there for a year or two before they kicked in before anyway

[Anonymous No.16096020]

In America...
>Wait one full tax year so your capital gains are considered long-term
>Cash out $420k once (upper-end of the 15% bracket)
>pay 15% on everything above $40k (15% on $380k = $57.5k) one time
>Make some big-ticket purchases and live off of it for a few years
>Cash out $40k/yr as head of household every year at 0%
That's my plan. Where I live, $420k will let me buy a house and take care of bills and expenses for several years.
If you try to cash out $1 million all at once, you'll end up paying around $170k on it (20% on everything above $435k).
If you take 2 years to cash out $1 million, $115k.
If you take 25 years to cash out $1 million - effectively paying yourself a full-time salary every year - $0
tl;dr - use long-term cap gain tax brackets to your advantage

[Anonymous No.16096022]

>>16096006
>>16095998
Kek, anything not to pay tax


If anyone wants more advice/help, message [e-mail]. im not seeking money or anything, just to help and maybe make a fren

[Anonymous No.16096034]

>>16096020
It's like $47k/year now the standard deduction has been going up every year

[Anonymous No.16096051]

>>16095878
>less free than yours
I ain't no stinkin Mutt, I've had a green card once upon a time
>Take a gander at Nomad Captialist on YouTube,
I already follow him, great channel
>There's always a way around paying taxes, the rich always find a way.
Agreed

[Anonymous No.16096063]

>>16096051
Oh potato passport! Nice dude, Ireland is a beautiful place.

[Anonymous No.16096078]

In germany you have to hold 1 year to count as a long term investor.
Basically if i dont sell or buy ANY link for 1 year, i will be completly taxfree.

Especially funny since we have so much taxes everywhere.

[Anonymous No.16096083]

>>16096034
Cool

[Anonymous No.16096084]

>>16096020
Would this work? Do you really want to keep Crypto for 25 years without cashing out more (I hold some moonshots).

[Anonymous No.16096092]

>>16096078
i am at 250~ days in total since my last transaction already but split my link into 4 wallets some time ago. (now im back at 100~) so i am making 100% sure by having the etherscan links show 365+ Days.

[Anonymous No.16096118]

>>16095753
it’d be more profitable to have a worldwide monopoly on a patented cure for blindness etc. than hide it away, retard.

[Anonymous No.16096147]

>>16096084
>Would this work?
Assuming the same rate is kept in place for the next 25 years, yes.
>Do you really want to keep Crypto for 25 years without cashing out more (I hold some moonshots).
If crypto continues to take off and Bitcoin does indeed break 7 figures by the end of the 2020s (or fiat goes to complete shit which seems inevitable), it wouldn't hurt to keep a crypto stack. My plan is to cash out that $420k, put the rest into a stablecoin, cash it out as needed, buy back when the market corrects itself, and repeat the process all over.

[Anonymous No.16096404]

bump

[Anonymous No.16096838]

have a bump

[I like cats No.16096867]

>>16096147
That's exactly my strategy. After next ATH, I'm converting a huge chunk of my HODLings to stablecoins in decentralized exchanges. Not cashing out more than the same amount of money I put in the previous year because I have a steady job.

[Anonymous No.16096880]

>>16095552

I've had to pay late fees, my car registration cost me a hefty sum. etc. Taxes hardly cover shit, and the roads are always under construction so I gotta put around at 35mph.

[Anonymous No.16096887]

>>16093677
i wouldnt worry about taxes. btc is going to stabilize at $4-$6k in the next few years, eth going to $50, and everything else going to near zero.

[Anonymous No.16096897]

>>16095737
The problem is, you will be reported as soon as you try to do somethinf with your money in the georgian account

[Anonymous No.16096904]

>>16096880
>Thinks taxes pay for roads
Get the fuck outa here retard

[Anonymous No.16096909]

>>16095867
>I'm Aussie, most westerners have to take this approach.
The exchanges might report to Aus and other western countries too.

[Anonymous No.16096913]

>>16096887
>bitcoin is gonna stabilize at below mining profit levels just trust me bro

[Anonymous No.16096920]

>>16096913
>mining technology won't improve over time
big yikes

[Anonymous No.16096923]

>>16096920
Kys

[Anonymous No.16096953]

>>16096897
No you won't. Just have a bank card, you can pay for everything you want. Georgia doesn't report to other countries. The USA can demand a request but they don't have no obligation to provide your information and it's against their policy to do so.

If you want to make things "easier" then you go from a Georgian bank account to one that's more recognised. I'd probably start in West Europe and then go to higher tier bank accounts but then I'm going backwards. My plan is to stay away from the large banks of first world countries, they're the reason why everything's fucked and the service is shitcoin tier.

>>16096909
Use a decentralised exchange, use a VPN, use a burner email, sell everything to XMR then turn it back into BTC outside the exchange. New virgin Bitcoin wallet that cant be backtracked to anything. Problem solved.
There's only so much I can go into in a 4chan post, my entire plan on how to avoid tax involves a lot of steps

[Anonymous No.16096967]

>>16093677
From what I heard many anons used Magic the Gathering cards and actually rode two bull runs. You can buy MTG cards with crypto from some of the more popular sites. Canons bought rare fucking cards then resold them at card conferences, gamestop's, etc. What's interesting is that the MTG bull run started right after the crypto one. Got a friend who works at a game store and told me all black lotuses and alpha/beta cards were bought back in late 2017. early 2018 with crypto

[Anonymous No.16096976]

>>16096953
we got you now, you son of a bitch. Look out your windows.

[Anonymous No.16096981]

>>16096967
not going to work now that you made it public

[Anonymous No.16097022]

>>16096953

loving the info around tax minimization, this thread is probably the one with the most actionable info that actually saves/makes money.

maybe its just a breath of fresh air from all the shitcoin threads but regardless

[Anonymous No.16097027]

>>16096976
I'm laying on the grass on my farm, no windows for about two acres kek.

[Anonymous No.16097039]

>>16097022
If you want more info or if you want me to make a plan for your specific case shoot me an email (look above)

Imma crash now, getting late.

[Anonymous No.16097149]

May I have it?
[e-mail]

[Anonymous No.16097225]

>>16096967
Collectable taxes are really high and you don't get the one year+ 0% long term benefits, op is asking about legal methods

[Anonymous No.16097240]

>>16096017
Literally made up kys

[Anonymous No.16097295]

>>16097240
>hurr durr kys
Which part is made up? They're both true, brainlet

https://www.nerdwallet.com/blog/taxes/capital-gains-tax-rates/

https://nomadcapitalist.com/2018/06/02/puerto-rico-tax-incentives/

[Anonymous No.16097321]

very based topic. will save this shit before the FUCKING JANNIES delete.

fuck niggers, fuck kikes, fuck jannies. and also fuck the government

[Anonymous No.16097379]

>>16096022
do you use discord, anon?

[Anonymous No.16097547]

>>16096953
>No you won't. Just have a bank card, you can pay for everything you want
Yes you can use this money to buy groceries. What I meant is, as soon as you want to use it for something useful, for example move it to your broker or another financial institution, they will report this money via CRS or FATCA for americans. So a georgian bank account works well for small sums, but it is useless for larger sums.

>Use a decentralised exchange, use a VPN, use a burner email, sell everything to XMR then turn it back into BTC outside the exchange. New virgin Bitcoin wallet that cant be backtracked to anything. Problem solved.
Yeah, you make it sound much simpler than it actually is. The only legit decentralised exchange that might work for this purpose is bisq, and even that one is shit with little volume. Of course it depends if we are talking about avoiding tax on 10k or 1mm. If it is 10k, your plan will probably work.

>There's only so much I can go into in a 4chan post, my entire plan on how to avoid tax involves a lot of steps
As someone who not only planned for 6 months, but actually spent the last 2 years executing the plan, I can tell you it was not worth it, at least not for me. Everything that can go wrong, will go wrong

[Anonymous No.16097737]

Starting a legitimate business is the only way to avoid taxes. You need capital in the first place. My bet would be Singapore or Macau. They have the strictest banking secrecy laws and to open a business as a foreigner to get a green card all you need is 500k. That's where all the ultra wealthy go to hide their money.

Or you could go to Liechtenstein although they are weary of foreigners opening bank accounts and you need to know someone. But they really dont give a shit where your money comes from.

[Anonymous No.16097875]

any of you fags know simon black? he is the author of sovereignman.com and shares really good advices.

I have one of his courses. it's a bit outdated but there is still some good advice. If somebody is interested drop me an e-mail at fcarbonaccio at protonmaildotcom or meet me at discord:

discord dot gg/CnDRBfD

[Anonymous No.16098059]

>>16095990
>form corporation
>corporation buys assets like cars and houses
>I rent said assets back for a nominal fee
>corporation pays taxes on gains at the corporate rate
I submit that you’re a dumbass

[Anonymous No.16098414]

>>16093677
It doesn't make sense. You make a million trading shitcoins and government takes 200k from you, why? If I took 200k from you without your consent, what would you call it? Theft. And then you'd call the cops on me and they'd put me in jail. But there's no jail for government. That's why we need guns.

[Anonymous No.16098464]

As a US citizen your government owns your ass. Your citizenship is the one with the most liabilities (especially regarding tax) of the entire planet. There's a reason lots of foreign banks refuse to accept US citizens as customers.

Ironically, you will have to pay several grand in taxes for your government to let you renounce citizenship to stop taxing you. Look it up.

>>16094274
Most of tax law is made for corporations. Unless those investments of yours were made through an LLC or S-corp it's almost impossible to avoid a legal obligation to pay most taxes.

[Anonymous No.16098657]

>>16096020
If you made any trades after your initial purchase you still owe short term capital gains on the crypto to crypto trades in Fair market value. If wouldn't matter if you waited 1 year after that.

[Anonymous No.16098673]

it's called Bitcoin. you have to store your wealth in Bitcoin, spend Bitcoin, and earn Bitcoin. read The Bitcoin Standard.

[Anonymous No.16098711]

>>16098464
>As a US citizen your government owns your ass. Your citizenship is the one with the most liabilities (especially regarding tax) of the entire planet.
Not even remotely true. Sweden and Germany have over double the income tax rate in the US, just to name a couple.

[Anonymous No.16098741]

>>16098711
t. retard
stop talking out your ass and look it up

[Anonymous No.16098782]

>>16098711

Except Sweden doesn't tax you when you lose your tax residency. The IRS will trawl the world to fuck you in the ass as your citizenship makes you automatically liable to worldwide taxtion.