/biz/ - Business & Finance

[Anonymous No.21383274]

Hey guys somewhat of a nulinker here. I bought during the corona crash. Nothing too extreme but I have 5k link. Im a burger bro and don't want to get raped by short-term capital gains so i'm going to have to hold for at least another 8 months. If link does hit $1000 should i bite the bullet and cash out and pay fucking 40% tax or just wait it out and hope it doesnt drop down like eth did from 1300 to 300

[Anonymous No.21383353]

>>21383274
check this
>21383313

[Anonymous No.21383378]

>>21383274
https://smartasset.com/investing/capital-gains-tax-calculator

[Anonymous No.21383380]

>>21383353
>>21383313

[Anonymous No.21383525]

>>21383274
No tax. No need to cash out most of it. Staking and compound interest plus the rising price of link will slowly make you a billionaire. Please be patient anon. Do not pay the big tax. Cash out modest living expense, if you cash out you will pay tax, but only then. There are myriad ways to avoid large amount of tax and keep your money safe and private. I recommend a South Dakota trust. Link is not going to drop like eth. You dont want to let anyone know how much link you have.

[Anonymous No.21383730]

>>21383378
That was actually pretty eye opening. It would have to be at least $750 after the year mark for me to make more than selling at $1000 under the year mark

[Anonymous No.21383929]

>>21383525
I understand your point of view but life is unpredictable. I don't know if i could give up the chance to to stop waging for the rest of my life. the risk vs reward seems too high, I don't need billions to live a good life.

[Anonymous No.21383975]

>>21383730
If you're cashing out less than 20k fiat I imagine you could just self report and your gov't entity won't know any different. Any more than that, you'll probably want to report it "accurately"