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16834001 No.16834001 [Reply] [Original]

>sell ether for usdc
>withdraw usdc to coinbase in intervals when necessary
>convert to usd and send to bank

wouldnt this mean i could literally never pay taxes?

>> No.16834018

... huh?

>> No.16834023

you would be paying taxes on your income in USD.

>> No.16834038

Nice try. But the jews actually put an end to that back in the early 1900s. It's called Like kind tax. They discovered farmers were trading farm animals for other animals without converting to usd first and that applies to this day.

>> No.16834039

>>16834001
Wat? You're an obvious Mutt, the only way to avoid taxes is to renounce.

>> No.16834049

>>16834001
which part of this mean you would never pay taxes lmao?
- If you get something more than $5k deposited into your bank account in a year without explanation, taxman will be interested.
- Withdrawing small amounts in intervals does literally nothing do hide it and will only incriminate you more, as someone willingly trying to hide. It's called packaging, a method of hiding money laundering.
- Still paying taxes everytime you buy something from the store.

>> No.16834072

Also, I am 120% sure taxmen around the world are specifically tuned into cash flows to and from Coinbase accounts for years now.

>> No.16834082

>>16834049
2019: i send x*10^4 to coinbase
2023: i send x*10^4 to bank from coinbase
the taxable event of converting eth to usdc occurs on uniswap (feds wouldnt know)

or alternatively, could send all of the usdc to coinbase and buy "fresh" coins that could then be used to purchase houses/food/etc. the goal is just to avoid paying capital gains tax by swapping ether for a stablecoin on uniswap or another dex

>> No.16834126

>>16834082
I still dont get what you are saying. If you have no gains with crypto, in a normal country, you dont have to pay taxes. Only if you receive more money back from coinbase than you put in, then you pay taxes on the gains.
Buying stuff directly with crypto... that is sort of a legal gray area. Its still a transaction as you are buying/paying with something valuable... you should be taxed for it, but the gov might not have a method of knowing it... you should yourself declare it somehow or its an illegal transaction.

>> No.16834169

>>16834126
no, this is a hypothetical where we have another moon cycle where im trying to figure out how to evade 30+% capital gains taxes

>> No.16834251

>>16834169
Renounce, sooner than later, otherwise risk:
Any funds in a bank globally to be seized
Revoke your passport so you can't leave the police state
Go to Burger jail & get raped.

You live in a country the worst country in the world to try to hide tax from. I couldn't think of a worse country to be from.