/biz/ - Business & Finance

[Anonymous No.19136877]

>get taxed on the money you get for doing your job
>invest what's left, get taxed on every trade
>make a profit anyway, have to pay capital gains tax
>buy a house, get taxed
>then get taxed again every year on something you already own
>donate to a charity that gives your money to Israel, get taxed again
>buy a car, pay tax, pay insurance, pay road tax, pay gas, pay tax on the gas
>the gas was sourced from oil secured from an illegal war funded by your tax money
>get into a car accident, have to pay anyway despite having insurance
>go to the hospital, pay tax on your medical bills
>go for a meal to cheer yourself up
>have to pay tax AND a tip
>get cucked by Tyrone
>have to pay divorce fees plus lawyer fees plus tax
>have to pay alimony
>have to pay child support
>decide to kill yourself
>your inheritance gets taxed as well
>the rest of your money goes straight to funding planned parenthood schemes

[Anonymous No.19136904]

>>19136877
This is why i try to live as frugally as i can
Fuck paying taxes

[Anonymous No.19136918]

>>19136877
Also
>save money that was already. Taxee
>pay 5-10% inflation tax

[Anonymous No.19136928]

>>19136877
>alimony is not tax deductible for the payer
>alimony is not taxable income for the recipient

really makes you think.

[Anonymous No.19136931]

>>19136877
2nd world problems

[Anonymous No.19136958]

>>19136877
>get jewed into believing in the 401k scheme
>TAX FREE CONTRIBUTIONS, GOY
>get taxed on withdrawals
>get hit with a MASSIVE FUCKING PENALTY if you don't withdrawal enough

i'm not even joking, look up the penalty for not making your required minimum distribution. it's a 50% penalty.

[Anonymous No.19136985]

>>19136877
Let me tell you how it will be
There's one for you, nineteen for me
'Cause I'm the taxman, yeah, I'm the taxman
Should five per cent appear too small
Be thankful I don't take it all
'Cause I'm the taxman, yeah, I'm the taxman
If you drive a car, I'll tax the street
If you try to sit, I'll tax your seat
If you get too cold, I'll tax the heat
If you take a walk, I'll tax your feet
'Cause I'm the taxman, yeah, I'm the taxman

[Anonymous No.19136995]

>>19136985
Based

[Anonymous No.19137033]

>>19136958
roth IRAs are better. deposits are still taxed but when you want to withdraw your money at retirement age it's tax free at least (since you already paid the taxes). assuming the account increased in value a lot over the years it's much better to have paid taxes on investments at the beginning.

[Anonymous No.19137045]

>>19136877
move to somalia

[Anonymous No.19137110]

So I've never cashed out yet. I've made hundreds of crypto to crypto transactions not all profits. Eth to esh for example isn't taxed RIGHT?

Please tell me I only have to pay tax on the interest of my earning when I cash out.

[Anonymous No.19137135]

>>19136877
when you zoom out and see the same dollar you earned and was taxed for, becomes income for someone else who is then taxed again.
$1 moving thru the economy generates thousands in taxes. tax revenue collected then spent by the irs itself, which then becomes the source of more tax revenue.
financial kabbalah

[Anonymous No.19137151]

>>19137110
sorry friend. not how it works.
this is precisely why i only buy and hold.

[Anonymous No.19137156]

>>19136877
simple. Earn less than 10k and never pay taxes.

[Anonymous No.19137164]

>>19137110
Nope! Jewish IRS hates you. Crypto is treated as a security, and get this, you are taxed on the gains from the USD value of both at the exact time you traded.

Say you bought 1 eth of ESH, say you had 120 esh and you sold it for 1.2 ETH

That 120 esh would be converted to its dollar price. That 1.2 eth would be converted to its dollar price. The difference of 1.2eth-120esh in dollar price would be your tax liability.

[Anonymous No.19137167]

>>19136904
based

[Anonymous No.19137192]

>>19137156
I'll make a million dollars and fake my death in perpetuity every time I withdraw.
Fuck the government I don't have kids and my money isn't going to support other niggers problems

[Anonymous No.19137242]

>>19137164

So how about I just don't do that, and pay 15% or whatever it is on earnings.

[Anonymous No.19137291]

>>19137242
first off, the absolute best advice i can give you (as gay as it is). is absolutely DO file a tax return. It is criminal to not file....
consult a cpa / tax attorney for how to categorize your trades so that they are done legally and in the most tax efficient way.
you should plan for that whatever exchanges you used are going to file 1099's to the irs on your behalf, so not filing is going to paint a giant fucking target on you.

[Anonymous No.19137311]

>>19137192
>fake my death
Good luck with that, Tiger.

[Anonymous No.19137357]

>>19136877
LOL, looks like someone just entered the adult world and is OUTRAGED that they have to pay taxes. Usually it's some skinny antifa faggot who was screetching at a rally about universal health care, and the next day is screetching about taxes.
I don't love taxes, but it's always amusing when Uncle Sugar whips it out and smacks kiddies in the face.
Plus, the factual discrepancies in your adorable little rant are funny.
You gotta get a job.
You gotta pay for things.
You gotta pay taxes.

[Anonymous No.19137379]

>>19137291

Fund through coinbase pro, all trades are done on uniswap.

Also in your example wouldn't 1.2eth=120 esh there shouldn't be a difference?

[Anonymous No.19137389]

Why don't you guys just do tax evasion? That's what we do here in Eastern Europe. Half of the economy is black market economy, being one of the reasons it looks so bad on paper.

Just stop using those Jewish pieces of plastic you call cards. Do everything informally with cash. I'm not even employed legally so I don't pay tax on my earnings. It's the only way to beat the Jewish welfare system.

[Anonymous No.19137421]

>>19137357
>You gotta
Slave mentality tbqh.

[Anonymous No.19137439]

>>19137164
That doesnt even make any sense. Wouldnt it just be zero because you're going from X dollar value of ETH to X dollar value of ESH? its the same dollar value

[Anonymous No.19137443]

>>19137379
wasn't my example. but in theory works like this:

* you buy 1 eth @ 100 (this is your initial cost basis).
* you then trade 1 eth for 100 esh. (1 esh valued at 1.18, so total transaction is $118). therefore there is a $18 "gain" on this transaction.
* later you transfer 50 esh for .6 eth (esh valued at $1.20) etc ...etc..

[Anonymous No.19137460]

>>19137421
Also inb4 "w-w-well what are you going to do?!??"

[Anonymous No.19137535]

>>19137443

But you couldn't trade for that much esh with 1 eth. You mean later it goes to $1.18.

Also that $18 gain is the profit. ALL of that is taxed or what %?

[Anonymous No.19137640]

>>19137535
>you couldn't trade for that much esh with 1 eth
i was obviously only using the numbers as examples. explain the general principles.
>that $18 gain is the profit. ALL of that is taxed or what %?
its taxed percentage based upon: short term vs long term.
short term = anything held for less than 1 yr. its then taxed at ordinary income rates...which could be 40% or so...depending.
long term = anything held for over a year. it gets complicated here but basically 15, 20, 28% are the tax rates depending on variety of factors and what assets were

[Anonymous No.19137676]

>>19137357
No thanks, taxation is theft.

[Anonymous No.19137756]

>>19137535
>>19137640

So I have earned $2000 so far in profit from XIO. If I swap to usdc I pay 40% tax..., and what about when I send it to coinbase pro, convert to usd, and send to bank.

Only tax filling I've ever done is hiting the next button on turbo tax.

[Anonymous No.19137980]

This is why you become a landlord, you can create equity in a tax free manner, tons of depreciation deductions, zillions of tax loopholes, etc. While I (my tenants) paid plenty in local property taxes, I personally was a net tax recipient federally for the last two years. You just have to use all the laws the rat politicians put in to enrich themselves and their donor buddies. Kind of a pain, but if you make any decent amount of money, your biggest expense over the course of your life will be taxes. Makes sense to put real effort into lower your goy-bill as much as possible.

[Anonymous No.19138293]

>>19136877

[Anonymous No.19138332]

>>19136877
Your last two meme arrows were especially dark, fren. We truly live in a society.

[Anonymous No.19138384]

>>19137110
Cash out through an eth wallet where you only have a connection through tornado.cash. No government can see the trades you did on a dex that way. You can also use gift cards to cash out.

[Anonymous No.19138402]

>>19137389
Based and redpilled

[Anonymous No.19138415]

>>19136904
this but unironically

[Anonymous No.19138465]

>>19138415
I was unironic

[Anonymous No.19138467]

>>19137756
Ok I looked it up. I once read crypto tranferers between your own wallets was taxable. It's not thank god.

>>19138384
And how would you deposit usd to buy eth. Do you know if coinbase reports transactions over $20000 but its all in deposits. Then I send to metamask.

[Anonymous No.19138480]

>>19136877

just don't work or buy anything it's easy