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/biz/ - Business & Finance

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22494522 No.22494522 [Reply] [Original]

Is there a definitive guide to cashing out once you make it?

>> No.22494569

you cant cash out

>> No.22495011

bump

>> No.22495061

>>22494522
If you transfer more than 10k at once your bank asks about it, thats all I know. I use tokentax and they seem alright.

>> No.22495257
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22495257

>>22494522

I recommend the Patrick Star tax strategy

>> No.22495483

>>22495257
based

>> No.22495502

>>22494522
There isn't because it mostly depends on the country you live in. Also there's no need to make a guide because here nobody's gonna make it.

>> No.22495550

Trade for dollar stablecoin and hire a financial advisor

>> No.22495572

>>22494522
You dont need to pay taxes if you use you crypto to buy things. Also if you have a few millions in crypto it might be worth to consult a wealth management firm that knows about crypto. They may help you opening an offshore company in a country without crypto taxes.

>> No.22495674

>>22495572
In Australia if you have made gains on the crypto you used to purchase items those gains are subject to cgt. Pretty sure its the same in America.

>> No.22495673

>>22495257
based

>> No.22495684
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22495684

So if you got a client who bought a shitcoin at eight, and it now sits at sixteen, and he’s all fucking happy, he wants to cash it and liquidate and take his fucking money and run home. You don’t let him do that. Cause that would make it real. No, what do you do? You get another brilliant idea, a special idea. Another situation, another shitcoin to reinvest his earnings and then some. And he will, every single time. Cause they’re fucking addicted. And then you just keep doing this, again, and again, and again. Meanwhile, he thinks he’s getting shit rich, which he is, on paper.

>> No.22495721

>>22495061
that's not true. I've pulled out $15,000 from coinbase in a single transaction. My bank didn't say shit to me.

>> No.22495750

>>22495674
How can they know? If its a house I understand but for smaller things I think its very hard. I am not even greedy, its about stop supporting a criminal organization (state) who want you demoralized and your kids raped.

>> No.22495762

The most based way to cashout is to a diverse set of stablecoins including gold tokens and let the IRS jannies seethe.

>> No.22495763

>>22495721
What bank? In general, banks are supposed to question you on big transfers like that. Regardless of where it's coming from.

>> No.22495765

>>22495721
Some will 100%

>> No.22495795

>>22495721
Can take up to 2 years for the tax man to arrive, and remember that tax evasion is fraud and a criminal offence

>> No.22495962

>>22495674
How can they know? If its a house I understand but for smaller things I think its very hard. I am not even greedy, its about stop supporting a criminal organization (state) who want you demoralized and your kids raped.

>> No.22496008

You can shelter it in an IRA if you’re in merica