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/biz/ - Business & Finance

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22330154 No.22330154 [Reply] [Original]

I made it. $2M USD worth of ETH is sitting in my wallet right now. I'm going to cash out, put 3/4 of it into stocks that pay good dividends, and the remaining 500k is going in a safe and I'll live off that the rest of my life.
Now how do I actually trade the ETH for FIAT without paying taxes so the government doesn't redistribute my wealth to brown people?

>> No.22330174

That's the catch... You can't cash out unless you pay up.

Never selling is not a meme

>> No.22330198

Wash money through your sisters onlyfans

>> No.22330237

PayPal?

>> No.22330266

>>22330154
>put 3/4 of it into stocks that pay good dividends

You really expect the tax man will never find out?

>> No.22330383
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22330383

>>22330154
Show proof or you're just another larping tranny faggot who lost it all on stinkies

>> No.22330400

>>22330198
How do you get it out and into there without it getting tracked?

>> No.22330410

>>22330154
pic of wallet or this is a gay larp

>> No.22330456

>>22330266
I'll pay taxes on the stocks I buy, there's no way around it, but the cut they want just for me to cash out is ludicrous.
Can't I just say I found some buried treasure or something? That can't be taxable, right?

>> No.22330567

>>22330154
>>22330400
>>22330456
Glowing faggots.

>> No.22330655
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22330655

>>22330567
Nice reverse psychology, glownigger. I know how bad you want my money to pay for Sharon and Achmed's new home and baby but it's not fucking happening.

>> No.22330714

>>22330154
Move out of the country, its a shithole anyway

>> No.22330758

>>22330655
Nice try IRS

>> No.22330872

cash out 500k and then put the rest in usdt and pay the taxes on the 500k.

put that in stocks or whatever you wanna do. move to a country that doesn't take capital gains / crypto and become a citizen there. either buy citizenship, or marry a local women whatever is quickest. after becoming a citizen, you can reinvest some money into crypto, put all your remaining balance through monero and then cash out everything as it looks like you made everything through your new investment as a citizen of the new country, and won't be taxed.

>> No.22330899

>>22330456
bruh, if you never had such money before and now suddenly you are sitting on 1.5 mil in stocks the tax authorities will have questions and they'll start an invitation and I'm sure as hell you don't want to be investigated. I'm not saying it's impossible to avoid taxes, it's just could be too complicated. You are ngmi if you are asking such questions here. You'll need to get in-depth understanding of these matters if you don't want to be assraped by jamal in prison.

>> No.22330912

move to glorious nippon and cash out

>> No.22330937

>>22330899
>invitation
*investigation

>> No.22330992

theres no way that you can cash out that much into a bank without it being taxed. safer option would be to keep a good majority of it in usdt if you don't want any risk, and slowly take out the rest in batches under the table. a great way to do this is by buying silver anon online with btc, many bullion dealers accept btc. than over time sell your silver to pawn shops friends ebay online etc. irl cash is the best option. the easiest safest way would be to pay taxes but there are ways to get around it.

>> No.22331049

>>22330872
That’s a lot of gymnastics to avoid taxes. Couldn’t you just make more money conventionally in the same amount of time?

>> No.22331090

>>22330154
>I'm going to cash out
nobody tell him

>> No.22331094

>>22330992
Yoo complex, stupid and dangerous.
Just pay your taxes OP. Every poorfag wagecuck pays their taxes on their income, and now you dont want to pay taxes on 2 fucking million?? Lmao. Its only like 35% anyways, if you dont live in a shithole.

>> No.22331124

>>22330899
If you don’t have any shady things, what kind of tricks could the irs scam you out of your legit money?

>> No.22331133

>>22331094
Too*

>> No.22331137

>>22331049
in what way is it a lot of gymnastics? you're not really gonna stay in the US after making it, are you?

you could live in the cosy hills of japan and have a cute waifu in your dojo.

>> No.22331147

>>22330872
this would only work if he renounced his USA citizenship. otherwise you still have to pay even if you move to a different country.
>land of the free

>> No.22331178

>>22331094
>Just pay your taxes OP

that is all.

>> No.22331242

>>22330154
Don't listen to any of these fools. Get a tax attorney. They will help you do what everyone does and figure out how to bury it away in a corporation's expense account.

>> No.22331267

>>22330237
Yes you can but it does not seem suitable for large amounts
Plus it's considered fraud by the IRS and if they find out they will make you another butthole

>> No.22331295

>>22331147
surely not if you're making a new investment as a citizen and resident of japan? either way, meh. wouldn't do it for 2M. but more than 5M i'd give up my citizenship for cozy life in Japanese mountains not gonna lie

>> No.22331339

>>22331242
>bury it away in a corporation's expense account

This basically, if you pay taxes you are dum dum OP

>> No.22331362

>>22331137
Becoming a citizen in a country just to save $500-$750k sounds good if it temporary and easy but sounds weak if that’s all she wrote for your life.

>> No.22331407

>>22331242
This. He’ll probably say to purchase IRA’s directly with the cyrpto.

>> No.22331421

>>22331362
i agree, which is why i was meh about it. if it was 5x that i'd consider it.

i'm sure there's other, easier ways too. like the llc type route.

>> No.22331436

>>22331421
Kek ok

>> No.22331448
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22331448

>>22330154
Imagine cashing out of crypto to get some paltry dividend return instead of staking into an ETH stable pair and collecting comfy gains. Even better keeping 500k in cash in a safe instead of buying boomer rocks instead.

>> No.22331467

>>22331436
huh? you know there's more than one person on this board with 7 figures in crypto right? 2M aint that much bro.

>> No.22331837 [DELETED] 

>>22330154
Thanks for taking care of my brown kids whiteboy.
Gonna pop more of em out cuz bored af in pandemic.

>> No.22331956

>>22330872
$2M isnt enough to escape to a different country.
I’m assuming EU would be the best pick, so lativa residency ~280k+ just to get the visa with guaranteed residency after 5 years. Then you’d need a house of your own and living expenses.
Not worth it, just earn back your taxed wealth and pay up like a good goy.

>> No.22332009

>>22330154
This is the beginning of a new bull cycle, retard.
Don't sell now. Wait until 2022. Also, USD might shit its pants very soon.

>> No.22332427

>>22331094
This. Taxes are supposed to be the cost for maintenance of the state in return for your well being gained by living in said state. The problem is (US here) people don't feel taken care of and feel near 0 benefit from their taxes. The government is holding a gun to your head saying pay up or get locked in a box for 10%+ of your lifespan with a possibility of death while in it. Give them their extortion money and move on. You still come out with a ton and can do a lot with it. Cashing out is a big problem....but a good one to have. Good luck anon

>> No.22332460

>>22331295
Its the US. If you live in the civilized world as a US citizen they will take their cut be it US soil or not

>> No.22332557

>>22330154
Just get a good tax attorney man. They know all the tricks.

>> No.22332738

>>22330154
BTC - > Monero -> BTC / ETH -> Local crypto
What did you idiots thing Monero does?

>> No.22332852

There's an awful lot of glowing going on today...
Seems like /biz/ is being targeted.

>> No.22333337

imma just make a church u retards

>> No.22333739

>>22330154
Just use Bisq or buy a burner phone and cashout using a bitcoin/eth ATM.

I investigate fraud for a living and this is how the pros do it.

>> No.22333771

>>22330154
glowniggers out of this board

>> No.22333853

>>22330154

LARP

>> No.22334205

>>22330154
Just pay taxes. You'd still have enough money to do all of what you are saying, and you won't get cucked by the IRS.

>> No.22334220

>>22333333

>> No.22334237

>>22330154
Use BUCC, privately wash those funds and then run it through a business