/biz/ - Business & Finance

[Anonymous No.25130861]

what about taxes

[Anonymous No.25130879]

i have two rules
i dont pay tips
i dont pay taxes

[Anonymous No.25130908]

>>25130879
Nice larp

[Anonymous No.25130918]

>>25130861
30% of what you make goes to Laquisha's welfare
got any questions?

[Anonymous No.25130922]

Liquidate your profits in tax haven countries.

[Anonymous No.25130939]

faxs?

[Anonymous No.25130956]

>>25130922
Too late faggot kyc exchanges got your info

[Anonymous No.25130962]

>>25130922
i was thinking about that, portugal has no tax on crypto gains

[Anonymous No.25130967]

>>25130922
the IRS will come for you in any country if you're an amerimutt

[Anonymous No.25130970]

>>25130962
still liable for gains made prior to moving

[Anonymous No.25130976]

>>25130861
shut the fuck up!
>buries head in sand

[Anonymous No.25130985]

>>25130918
That’s not true. Some of that goes to Israel and some other of it goes to sudan so they won’t attack Israel

[Anonymous No.25131029]

>>25130970

[Anonymous No.25131059]

>>25130956
how the fuck would the IRS know I sold my crypto if as an American/EU dual citizen I cash out in a country like Portugal through an anonymous metamask wallet?

[Anonymous No.25131091]

>>25130861
What about taxes last time?

[Anonymous No.25131093]

>>25131029
Amerimutt citizens have to pay taxes to the US everywhere they go.
Check how many countries the IRS has agreements with, you will get extradited and butt fucked in prison.
Just pay your welfare tax LMAO

[Anonymous No.25131111]

>>25130985
t-that's not true! stop!

[Anonymous No.25131134]

>>25131093
this. only country in the world to do so other than Eritrea. Nobody where you go you pay.

[Anonymous No.25131138]

>>25131093
id rather do time and come out rich

[Anonymous No.25131142]

Just hold in monero and buy prepaid visas. Sell monero for cash locally and then launder cash with a business.

[Anonymous No.25131161]

>>25131059
If you cash out you're gonna have to declare where the money came from, retard. You think you're just gonna sit on a pile of cash beneath your mattress and buy all the shit you want and the IRS will let it slide? My god, you people are underaged.

[Anonymous No.25131300]

live in a country that doesnt tax crypto to crypto trades

also many countries only tax you if you convert it to fiat currency in your bank account

you can pretty much trade and invest and keep accumulating your wealth and then go to some tax haven and cash it out

[Anonymous No.25131399]

base is $0.80 and fucking rebase will rise it even stronger, who is in? All threads are in this shilling

[Anonymous No.25131486]

>>25131142
Laundering means paying taxes.

[Anonymous No.25131509]

>>25131486
yeah but it wont be capital gains

[Anonymous No.25131564]

So I can use my losses as deductions right? Do they only count as deductions if I ONLY incurred losses throughout the year or no? For example, if I made $10k in profit for the year, but one particular coin I made $2k but later lost the entire $2k, can I deduct $2k from the taxed portion of the $10k?

[Anonymous No.25131570]

>>25130861
pay them, it's not hard.

[Anonymous No.25131613]

>>25131570
no

[Anonymous No.25131621]

>>25130861
Never paid em.

[Anonymous No.25131644]

>>25131564
?? if you made and lost 2k on a coin then you're even on that coin, you wouldn't pay or deduct anything from it

[Anonymous No.25131684]

>>25131644
So how does one use losses as deductions?

[Anonymous No.25131701]

>>25131564
no

[Anonymous No.25131724]

>>25131701
Not very helpful. Give an example of how one can use losses as deductions

[Anonymous No.25131883]

>>25131724
You tally up every transaction made that year. If you’re net positive, you pay taxes on that. If you’re negative, you can deduct up to $3000 from your taxable income. Any loss over $3000 gets rolled over to following years.

[Anonymous No.25131895]

Theft

[Anonymous No.25132275]

>>25131684
You buy one BTC at 10,000 and sell it at 20,000.
You buy ten ETH at 500 and sell at 400.

Gain: 10,000
Loss (deduct): 1,000

Net gain: 9,000

[Anonymous No.25133421]

>>25130922
What if I want to buy real estate with that money? won't they ask me where the money came from? same if I dare to put it in my local bank account for safe keeping?

Also when cashing out do you pay both capital gains tax+crypto or just 1 ?

Also what are the pros and cons to have never worked in your life and not being a student when it comes to taxes?

[Anonymous No.25133502]

Is anyone here not an American?

[Anonymous No.25133572]

Lol what if white people got tired of paying all the taxes just so laquisha could get her nails done and Moshe could bomb Palestinian kids? Lol wouldn’t it be so crazy if white people started bombing IRS buildings lol could you imagine? haha

[Anonymous No.25133715]

>>25133572
This generation of betas? have you seen the latest blatant exit hack by Livecoinwatch? These morons can't be arsed to get on the dark net and put in the effort to find real henchmen. They'd rather throw their money away on drugs, whores, gambles, but Jesus putting that money towards a hacker to dox the assholes at KuCoin, Mount Gox, Binance? they're too beta for that.
Have you seen how they just literally and metaphorically sat there while the liberals stole the election from Trump? Does this look like a generation of leaders and real rebels with a plan? nothing but passive aggressive cowards who sit there, cry, look mean and can't be arsed to download a program to dox you. Meanwhile 8-12 year olds have their own forums, game servers and ddos and dox you for beating them at their favourite shitty game.

[Anonymous No.25133750]

>>25130879
Holy! Is there a man more based?

[Anonymous No.25133781]

>>25131111
Uhh checked Mr Goldstein

[Anonymous No.25133818]

>>25133572
>Lol wouldn’t it be so crazy if white people started bombing IRS buildings lol could you imagine? haha

In GTA right?

[Anonymous No.25133874]

doesn't that imply that I make money on this?

[Anonymous No.25133920]

>>25130879
its for you sir.

[Anonymous No.25133971]

Is it about 20% in the UK as capital gains tax?
Not looked into it as I'm never selling but would be good to know.

[Anonymous No.25134303]

>>25131059
>anonymous metamask wallet
I dont know what the fuck that is. And what are you going to say to the taxman of whatever country you cash out in once you get all these millions in the bank genius?

[Anonymous No.25134828]

>>25134303
tumble the coins

[Anonymous No.25134908]

>>25130861
Buy some rental properties and form an S type corporation. Then expense your entire life through the company and pay yourself nothing.

[Anonymous No.25136471]

>>25130861

Friendly reminder that crypto to crypto is a taxable event

[Anonymous No.25136492]

>>25130879
Magnificent.

[Anonymous No.25137249]

>>25130861
What about them? You bafoons do understand that cryptocurrency is a CURRENCY, right? Just trade your shitcoins into XMR and pay with that. More and more businesses are accepting at least BTC at this point, and you can buy both without KYC easily. If you're some newfag cuck that dumped their stimulus check into a KYC exchange you may have to start over though.

[Anonymous No.25137450]

>>25131093

How else are we going to pay for our 2000 military bases around the world to protect Israel and feeding laquandas 7 chillins

[Anonymous No.25137489]

>>25130861

Hold for a year so you pay long term capital gains tax, also don’t fuck around with crypto to crypto shitcoins and only buy blue chips (BTC) with USD.

[Anonymous No.25138256]

>>25131093
Puerto Rico act 60 is the exception to the tule anon. 0% on gains after moving there.

[Anonymous No.25138283]

>>25138256
*rule

[Anonymous No.25138491]

>>25130879

[Anonymous No.25138547]

>>25133715
How many cared about WACO or Ruby?

[Anonymous No.25138573]

[Anonymous No.25139233]

>>25130956
I have the same issue.
I'm paying my taxes up to 2020, I've got no other choice. Has been nice sitting in link with borrowed money from the state due to due taxes lol. But I have to step evasing now and pay up.

I know it sucks but I got no other choice I don't wanna go to jail and I've researched the fuck about evasing it but it's quite impossible and also regulations are creeping up upon us quickly.
There is a chance ofcourse they will never get you buy. For example I'm unable to buy a house in Belgishit without using a notary and I need to have euro for that. So besides using my shitcoins for stuff like loli's and NFTs I can't buy anything of real value with it. So gotta have to cash out no other option.

FUCK NIGGERS THOUGH*
VOTE POPULIST PARTY NOW
TY

[Anonymous No.25139283]

>>25130861
Haven't payed any in 5 years.

[Anonymous No.25140132]

How do I buy real estate and tell my government where I got the money from to buy an apartment when I have no job? Is there anything on the internet where I don't have to pay tax on? being paid 100k to shitpost on 4chan? making mods for an old game? being paid to write erp with writers?

[Anonymous No.25140167]

>selling

[Anonymous No.25140220]

Can you move your crypto to a non-KYC wallet and then claim you got hacked and had it all stolen? Or do you still have to pay tax on everything?

[Anonymous No.25140292]

>>25130879
Thank you for your service.

[Anonymous No.25140361]

>>25131161
yes retard. get on welfare as a cover then use cash to pay groceries and weed and video games bought from stores with cash. all untraceable. IRS doesn't live in my bedroom.

[Anonymous No.25140375]

Anyone here actually pay taxes on their shitcoins?
I’ve seen services and python scripts that pull your etherscan in/out and prices to calculate taxes for you. This seems like a relatively simple method, I can never find a clear answer on “does the IRS really track etherscan movement?”
It seems like an absurd amount of work, but if I want to cash out I’m going to have to explain how I turned a couple ETH into a lot of ETH/BTC.

[Anonymous No.25140489]

what about canadian tax evasion? is it easier than murica?

[Anonymous No.25140642]

>>25140132
just say you were walking on the street and some anon rich guy donated you 100k then disappeared.
they technically can't prove you're lying. finders keepers.

[Anonymous No.25140743]

>sign up to offshore forex broker that accepts crypto deposits
>deposit x amount of money into forex account
>withdraw x crypto into newly-created wallet from forex account
>trade shitcoins all you want
>deposit gains back into forex account
>withdraw from forex account into original wallet
>enjoy gains with no crypto-to-crypto taxes

[Anonymous No.25140762]

>>25130861
I dunno. I just give my shit to an accountant and have them do the rest. I'm not touching that shit.

[Anonymous No.25140776]

If I cash out in a country where US does not have a tax treaty, is it safe not to report to IRS?

[Anonymous No.25140803]

>>25136471
It’s fucking retarded, why are you penalized for selling something if you never take it out of your account, much less, switch from crypto to crypto?

[Anonymous No.25140833]

>>25130861
What about bad Solonius?

[Anonymous No.25140835]

>>25140220
What do you think? The irs doesn't care you got hacked, especially if its crypto on a non-kyc wallet.

[Anonymous No.25140924]

>>25140743
Does this really work?

[Anonymous No.25141015]

>>25130879
Based. Ywgmi

[Anonymous No.25141128]

>>25140167
>>selling

Just FYI - trading a crypto for another crypto is also "selling". Have fun calculating all the theoretical gains you made back into USD.

[Anonymous No.25141251]

>>25131883
>>25132275
So which is it?

[Anonymous No.25141477]

Not american

[Anonymous No.25142048]

Just buy gold online with your crypto and then cash out at a pawn shop.

[Anonymous No.25142259]

Why wouldn’t this work?
>transfer all crypto to XMR
>open Swiss bank account
>use local monero to have buyers wire transfer you money to your Swiss account in exchange for XMR
>use debit card linked to your Swiss account
>buy whatever you want

[Anonymous No.25142278]

>>25142259
Swiss accounts lost privacy years ago you retard.

[Anonymous No.25142338]

what taxes?

[Anonymous No.25142385]

>>25141251
They're literally saying the same thing. You get taxed on net gains or net losses. A loss that is offset by larger gains resulting in a net gain is simply taxed as a gain.

[Anonymous No.25142468]

>>25130861
Just say No.

[Anonymous No.25142485]

>>25142278
Sure but it’s not like they will be reporting you to the IRS.

[Anonymous No.25142559]

>>25142485
>he really doesn't fucking know
Opening a bank account as an American is nearly impossible because yes, they fucking do. Your shitty country forced them and every other country on earth to disclose banking details of us citizens.

[Anonymous No.25142595]

>>25131564
NO BODY KNOWS LOL

[Anonymous No.25142729]

>>25142559
So then how the fuck are we supposed to cash out? I’ve heard moving to Puerto Rico is an option? Is that true?

[Anonymous No.25142770]

>>25134828
How does tumbling your coins avoid you getting fucked when you cash out

[Anonymous No.25142786]

>>25142729
>So then how the fuck are we supposed to cash out?
by paying your taxes

[Anonymous No.25142819]

>>25142729
You are fucked specially as an amurricano because changing tax residence is hell.

Only billionaires or at least 100+ million whales can put together a team and try to get away with it but the rest are cucked

[Anonymous No.25142836]

>>25142338
Portugal will tell the IRS you avoided taxes

also they will ask where the money came from

[Anonymous No.25142899]

>>25137450
I've never understood this aspie theory by nazis. Why the fuck would the US be a cuck of Israel? Israel is some shitty country, US has all the guns.

>muh bankers

So fucking what. US has the guns, use them?

[Anonymous No.25142930]

>>25140743
So you are saying that because the forex broker is offshore you don't have to follow the tax rules of your country? how do you stop needing to follow the rules of the jurisdiction you are at just because the site you operated at is offshore? i dont get it

[Anonymous No.25142957]

>>25142786
What if I just renounce my US citizenship and become an “undocumented immigrant.” Where are they gonna deport me to? Mars?

[Anonymous No.25143005]

Im 19, american with 30k I planned on investing in crypto. If i make gains off of crypto I have to pay taxes for it? Wtf

[Anonymous No.25143478]

>>25142836
>being american

wew lad

[Anonymous No.25143515]

>>25143005
Move to Canada. That's what I'm going to do when I make it. I'll revoke my US citizenship.

[Anonymous No.25143639]

>>25140361
It's only relevant if you suddenly have houses, condos, new cars etc under your name. You will get audited. The IRS does not care about your piddly diddly $20k gains. everyone knows you can easily hide that.

[Anonymous No.25143657]

>>25130861
Pay them. If burger, use Tokentax.
I'd highly advise getting into a solid project and holding for a year tho or you're gonna waste money.

Look at Union / UNN at these lows. https://www.dextools.io/app/uniswap/pair-explorer/0x7f1da3697236d4a5e0efd2a99de5d9c076937856

[Anonymous No.25143668]

>>25140489
Why they didnt fucking save these guys?

[Anonymous No.25143763]

>>25143515
i moved to canada and i'm weighing the merits of keeping my american citizenship or not.
it's not so easy. you need a good reason for giving it up (dodging taxes is not a valid reason) and it's also expensive. we're the only fucking people in the world -- other than eritreans -- that are taxed by citizenship and not residency. also, banks get nervous dealing with americans up here because of FATCA.
when you spend enough time away from the usa you really realize what a fucking goy farm it is and it makes you hate it with all of your being.

[Anonymous No.25143770]

>>25131161
Just spend all your bitcoin on gold. When you actually need the gold the government will have a civil war to deal with.

[Anonymous No.25143799]

>>25143515
how is moving to Canada gonna dodge taxes?

[Anonymous No.25143827]

>>25130861
30% of 100k is 70k.

Still though, I want to shit in the mouths of these thieves. Mother fuckers shouldn't be taxing retailers

[Anonymous No.25143834]

Okay so I’m sure people on here have cashed out a lot of money after having thousands of shitcoin transactions. Did you guys actually tally everything’s up to pay the correct amount or did you just not give a fuck and not report it. What’s the worse that would happen or likelihood of getting audited. What if you tried to cheat and treated crypto as one entity just calculating fiat in/fiat out would that be enough to get the irs off your back? I’m not combing through all my transactions.

[Anonymous No.25143870]

>>25142385
What if I turned $1000 into $2000, but then I lost it all in a bad trade, and realized that loss?

[Anonymous No.25144040]

>>25143870
then you're a retard but at least you dont have to pay tax, just certify it.

[Anonymous No.25144137]

>>25143478
Well any country will report due CRS, unless you live in a shithole with no CRS.

[Anonymous No.25144212]

>>25130922
this. and renounce your US citizenship before you begin cashing out millions.

[Anonymous No.25144287]

>>25143870
Depends on when that happened. If you made a profit of $1000 in 2019, you will owe taxes on that. If you your coin then goes to 0 in January 2020 you will still owe taxes on the $1000 you theoretically had.

[Anonymous No.25144414]

>>25142957
after you pay the exit tax, yes.

[Anonymous No.25144482]

>>25142957
Then you have to do what's called paying your debt to society

[Anonymous No.25144529]

>>25143515
Canada is worse or the same when it comes to taxes. If you are going to make millions just talk to a tax accountant and tax lawyer about how to structure your affairs.

[Anonymous No.25144761]

>>25143763
Canada is worse in terms of taxes, you make no sense. You could move to a state with lower taxes. USA is among one of the best countries when it comes to taxes, there's so many loopholes if you aren't a brain dead retard you could easily pay 0% taxes.

[Anonymous No.25144917]

No

[Anonymous No.25145061]

>Cashout in 3rd world country
>Open up a cash business to launder money
>Move back to original country and declare origins of money as business profit
>If asked about how you got the inititial money to open up the business, just tell them you got it from loan sharks.

[Anonymous No.25145275]

>>25140776
Research non-FATCA countries. Uruguay is a pretty appealing one.

[Anonymous No.25145285]

>>25130879
fpbp

[Anonymous No.25145298]

>>25142559
NOt URuguay

[Anonymous No.25145322]

Woah like... THINK about it dude. There is literally NO way to launder your money. I mean it is literally impossible. Countless drug dealers on the darknet have ZERO way of laundering their funds which is why the darknet markets are dead. There is just no way for you to launder your funds it's impossible. The IRS has won this round, pay your taxes kids.

[Anonymous No.25145323]

>>25144761
i didn't move here to avoid taxes because you can't. i'm probably going to ditch the american passport and as soon as that's done with i'll establish residency somewhere like malta.

[Anonymous No.25145337]

How do I, as a New Zealand citizen, cash out my crypto without paying tax?

[Anonymous No.25145373]

>>25144287
>buy $10000 worth of BTC
>becomes $1million
>lose it because by mistake you deleted your wallet/sent to the wrong address
>you owe now a fuckton worth of capital gains of a capital you don't have

this is why this shit is so fucking insanely risky

[Anonymous No.25145416]

>>25140489
im glad i watched this, now ill never think it might be a good idea to try to save a drowning black person

[Anonymous No.25145443]

>>25143668
niggers cant be saved, and trying to do so will result in your own death... its a metaphor and also what just happened

[Anonymous No.25145455]

>>25130861
anon you didn't sell did you? you were just supposed to accumulate....oh nononononononononononono

[Anonymous No.25145485]

>>25131111
Oy Vey! Checked and Shoa-pilled!

[Anonymous No.25145596]

Puerto Rico
>Act 60 Code of Incentives
>Act 20 Export Service Act
>Act 22 The Individuals Investors Tax Act of 2012
>Act 273 The International Financial Center Regulatory Act
>Latinas

Merry Christmas

[Anonymous No.25145721]

>>25144137
so? off shore banking, foreign residencies etc are perfectly legal and common practices. tax evasion is a crime, tax avoidance is not.

also, tax evasion is not an extraditable offence for almost all countries.

[Anonymous No.25145778]

>>25145721
>let's live in a non-CRS shithole
what could go wrong

[Anonymous No.25145823]

I just hodl

[Anonymous No.25145887]

>mining is considered a taxable event in the USA

[Anonymous No.25146345]

>>25145778
what? i just said living in a CRS country isn't a problem for those looking to avoid tax or even evade it.

you need to educate yourself before giving advice to others

https://flagtheory.com/

I think theres a serious problem with people in the world who are emotionally tied to their concepts of taxes and are terrified of the endless possibilities that exists to minimise them.

Remember, taxes are quite literally extortion. the only difference being that the extortion is being carried out by the highest legal authority, and therefore you have no recourse. HOWEVER you can use that very system, which is designed with many loopholes in mind, to avoid this extortion.

[Anonymous No.25146622]

>>25146345
Who are you going to call when your so called "offshore bank" vanishes?

[Anonymous No.25146635]

>>25145373
its not a taxable event if you didnt sell/trade it

[Anonymous No.25146636]

>>25146345
Look at the list of countries without CRS. They are shitholes.

[Anonymous No.25146746]

>>25138256
>0% on gains after moving there.
What if you buy your crypto in the mainland US, hodl, then move to PR and establish residency + sell.

Does the PR residency protect you there?

[Anonymous No.25146852]

>>25144287
no. you would not be liable for taxes on a coin that made profits you didn't sell on. Where was the capital gain if you never sold and the coin lost its value? That is ridiculous.

Let's say hypothetically the market spikes 100000000% and then goes back down immediately. In your circumstance, everyone in the market now owes millions in taxes on "profits" they only had for seconds. Nope

[Anonymous No.25146926]

I’m an American who married a europoor now living in euroshit land. I do not respect the IRS. Fuck the IRS. Why the fuck do they need to know every fucking affair of mine. Thirsty beta cuck IRS. I’m blessed I married a non-American, so many possibilities.

[Anonymous No.25147522]

>>25131142
That's awfully nice but good luck if you've made more and want to buy something of value.

[Anonymous No.25147541]

>>25147522
You can’t buy a house with prepaid visas?

[Anonymous No.25147577]

>>25137249
And the merchant who sells you stuff takes your information and provides info to their end that you've paid in crypto who then notify the irs. Holy shit you're stupid this works if you're buying a pack of gum but good luck buying something you really benefit of.

[Anonymous No.25147610]

>>25140642
Obviously this won't work. Your stash of crypto won't miraculously transform into cash on your account or in your living room.

[Anonymous No.25147629]

>>25140375
They most definitely do if they suspect you of cheating.

Provide believable and fair numbers and you will slide under the radar.

[Anonymous No.25147655]

>>25131564
before jan 1st, you need to actually swap/sell the coin to REALIZE that $2k loss. then it can be deducted from profits.

[Anonymous No.25147684]

>>25143834
Provide believable numbers and they won't bother you.

[Anonymous No.25147720]

>>25147541
Kek.