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/biz/ - Business & Finance

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2430831 No.2430831 [Reply] [Original]

I want to cash out but avoid getting fucked by the taxman. I live in Canada.


I can buy PCs/laptops from newegg with bitcoin. I'm thinking of buying PCs with BTC, then flipping them for cash on kijiji. Is this a good idea?

>> No.2430868

no
local bitcoins and cash my dude, you'll even sell with a premium
Avoid getting FBIed also

>> No.2430908

>>2430831
Quadrigacx allows cash and virtual visa withdrawal

>> No.2430944

>>2430908
yeah but i have to put my ID on that shit.
No thanks.

>>2430868
Thank you anon, this is what I will do.

>> No.2430968

>>2430831
>avoid getting fucked by the taxman
>live in Canada
haha

>> No.2430971

>>2430944
Anytime
How much BTC tho?

>> No.2430989
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2430989

>>2430971
i bought 20 eth 2 months ago

>>2430968
is there really any way for them to track me if I just sell it for cash and keep it in a safe?

>> No.2430992

>>2430944
No you don't, why can't you just do a little bit of research

>> No.2431019

Newegg doesn't accept bitcoin in canada anymore.

>> No.2431031

>>2430989
yes
4chan reports the IP's of all reported people (for illegal reports) to the FBI (if american) or to the interpol if international.
Your IP is on a list now, expect an audit

>> No.2431181

>>2431031
stfu fagboy

>> No.2431637

>>2430831

Unless you earned literally several hundred of thousand dollars, you'll take a bigger hit in sales tax than you would simply declaring your income from bitcoins- depending upon your provincial capital gains tax. Only half of your capital gains are taxable under the current rules- if you earned $50000 in British Columbia, you'd only be taxed 5.06% on $25000.