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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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25875952 No.25875952 [Reply] [Original]

Do I pay taxes TWO times???

>> No.25876023

>>25875952
yes ofc, some countries may give u more options how to calculate tax, but even then u pay

just fucking hodl and buy dips

>> No.25876190

>>25875952
you pay 30% on every trade. Buying or selling, doesn't matter. If you trade 4 times you actually owe the IRS 120% of your gains, more than you put in in the first place. Burgers are fucked.

>> No.25876218

>>25876190
you only pay on profit

>> No.25876409

No tax expert but the way I imagined it was calculating annual profit, minus trades made at a loss up 2500, then take into consideration if any of the trades were made >1 year, in which case you’ll have a lower tax rate for those profits.

Fuck taxes, taxation is theft .

>> No.25876691

>>25876023
Yeah ok I'll hold...

>>25876190
kek
>>25876409
But you have to pay taxes on every profitable trade anon, so you need to pay multiple times, not just a single time.

>> No.25876907

>>25876691
I sure fucking hope not or trading just got really gay.

Either way you can set up a tax payment plan in the US up to six years, I’m going to stretch this shit way out