/biz/ - Business & Finance

[Anonymous No.24095327]

How do you proof to mr. taxman where the crypto you sold for fiat came from?

Any "stories" or ideas?

[Anonymous No.24095441]

excuse me sirs for pajeet typo

prove*

[Anonymous No.24095527]

Listen you jew motherfucking you, you cunt motherfucker, I'll pay not a godammit thing to no cocksucking teeny winny fag trash, got it?

[Anonymous No.24095619]

>>24095327
I reported all my trades for the last three years including what looked like wash trades at the time when I bought ETH transferred it to Binance and instantly sold it for LINK. So now when I report my 10000% gains next year on those $50 trades they know I'm not bullshitting.

[Anonymous No.24095629]

>>24095527
that's the point. what are you telling mr. taxman though? where does your crypto come from? you surely want to spend it at some point.

[Anonymous No.24095636]

>>24095327
exchange transaction logs.
if you don't have those, then you will have to pay taxes on a zero cost basis. The feds don't care where you got the crypto, so long as you pay taxes.

[Anonymous No.24095660]

Trade for cash
Crytpo credit card for expenses

[Anonymous No.24095787]

>>24095636
The feds won't accept you cashing millions though. Even with paying taxes, they might suspect illegal activities.

[Anonymous No.24095863]

Why do you need to prove that? You reported the trade, that's all you're obligated to do. If the tax guy think you've done something illegal, the burden of proof is on them.

[Anonymous No.24095978]

>>24095787
If you pay taxes, they wouldn't look at you as being somebody who is committing illegal activities. There could be any number of reasons as to how you acquired the crypto. If you are cashing out literal millions then hire a tax expert to help you out.

[Anonymous No.24096072]

>>24095327
>cashing out in fiatshit before massive inflation indicators blinking like a las vegas casino
ngmi

[Anonymous No.24096521]

[Anonymous No.24096523]

>>24095327
glowies spotted

[Anonymous No.24096576]

go to bulgaria and unload your bags on a change shop where they accept cryptos

stop giving away your money to your masters stupid goyim

[Anonymous No.24096608]

>>24096521
Alias is a pajeet scam.

[Anonymous No.24096632]

>>24096608
https://monero-badcaca.net/

[Anonymous No.24096661]

I bought monero off localmonero with cash in 2016, i dont know who the person selling was. Real story, feel free to use it for you

[Anonymous No.24096672]

>>24096632
sybil attacks can be run on literally any p2p network. they don't reveal anything about the transactions, only IP addresses of people not using a vpn or tor associated with the network

[Anonymous No.24096687]

>>24096576
but then your money is stuck in fucking bulgaria, how is that better

[Anonymous No.24096707]

>>24095327
Fuck off glownigger.

[Anonymous No.24096750]

>>24095327
THEY GLOW IN THE DARK

[Anonymous No.24096815]

>>24096523
>>24096707
>>24096750

[Anonymous No.24096828]

>>24095863
>If the tax guy think you've done something illegal, the burden of proof is on them.
wrong
also, PirateChain is better

[Anonymous No.24096899]

>>24096828
fuck off holy shit what is with the fud and jeet shills

[Anonymous No.24097148]

>>24096687
you can live there until your death if you have a significative amount or just invest in real estate and rent it

bulgaria is whiter than your country

[Anonymous No.24097870]

>>24095660
this. sell it to fucking drug dealers on craigslist for cold hard cash.

[Anonymous No.24098335]

>>24095327
move to another country first.

[Anonymous No.24098437]

>>24095863
Unfortunately no. Tax law is fucking bullshit. You're guilty until proven innocent, and if you can't prove to a satisfactory degree that you don't owe tax on something, they'll demand the maximum possible.

[Anonymous No.24098581]

When I file my taxes do I add up all my cyrpto purchase and cost at the time and minus the items I baught with cyrpto like gift cards? It's all very confusing

[Anonymous No.24098588]

>>24098437
cant wait till I get audited and blow my brains out

[Anonymous No.24098636]

>>24098581
strictly speaking, they consider paying for stuff with crypto to be a taxable event.

so let's say you buy 1 buttcoin at 1k, then buttcoin increases in value to 2k, and then you buy something with your 1 buttcoin. Technically you're supposed to owe capital gains on the 1k increase in value.

[Anonymous No.24098668]

>>24095327
>Cashing out

You’re not gonna make it

[Anonymous No.24098739]

Are you a US citizen. If so you'll pay tax anywhere in the world you cash out. If you don't and they find out you'll get a nice tax bill.

You could go to Portugal, apply for residency and get non habitual tax residency if you look into it, if you aren't a US citizen. If you are, wait 5 years to get your citizenship in Portugal, then give up your US citizenship. Then cash out. But technically if you are a US citizen you'd still owe tax up until that point.

[Anonymous No.24098764]

>>24098636
Do you count every cyrpto purchase ever accumulated even on the following year taxes? Like I buy $50 a week and the price changes a bit every week.

[Anonymous No.24098825]

>>24098764
yup

[Anonymous No.24098938]

>>24096072
Sorry, but most people still don't take internet money as payment. Till then, cashing out is here to stay.

[Anonymous No.24099354]

>>24095327
Never cashing out nigger suck my cock

[Anonymous No.24100154]

>>24096661
localmonero was launched in 2017 tho

you surely didn't buy thousands, you'd have to claim you bought monero earlier and cheaper to explain the large gains.

[Anonymous No.24100180]

how about building an erc20 token and selling/buying it yourself, pumping its price slowly to the moon?

[Anonymous No.24100711]

>>24095863
>the burden of proof is on them.

[Anonymous No.24101094]

>>24095863
>Mr.Sheckelberg has to prove you didnt commit tax fraud

[Anonymous No.24101907]

>>24095327
Monero can be tracked, use 0x MR

[Anonymous No.24101935]

>>24095327
what's a good monero stack?