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/biz/ - Business & Finance

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27782559 No.27782559 [Reply] [Original]

Please

>> No.27782982

Will something go wrong if I sell 1.2mil CAD ?

>> No.27783502

>>27782559
please bump my thread

>> No.27783573

>>27782559
You have to let them know in advance so they can have the funds ready. They'll also make you fill out a shit ton of government paperwork to make sure you're not selling drugs or some shit. Contact support first. Hope this helps

>> No.27783655

>>27783573
You will also have to pay 40% tax on your gains next year, so get ready for that

>> No.27783753
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27783753

>>27783573
>>27783655
Rip fellow leafs. Government securing the bag from us.

>> No.27784119

why even bother with Shakepay dude, use Kraken for lower fees. The spread on shake pay is fucking dumb

>> No.27784221

>>27783573
Thanks friend!

>>27783655
50% of it is taxed though. so I'll be taxed on 600k right?

>>27783890
>This fren I wouldnt recommend pulling all at once I think it changes your tax bracket

Yeah... I think I'll sell 100k then.

>>27784119
Should I transfer my btc to kraken?

>> No.27784416

>>27784221
>so I'll be taxed on 600k right?
No, capital gains tax means you only get taxed on your gains. If you bought something at $2 and sold it for $5, the tax would only apply to the $3 in profit.

>> No.27784559

>>27784416
As a fellow leaf do you know how that tax works? Is it a flat rate or marginal?

>> No.27784624
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27784624

>>27783753
>fellow leafs
Not a leaf. Don't touch me you disgusting eastoid. Go celebrate your annual Trans Pakistan Awareness month or whatever.

>> No.27784726

>>27784416
right, but only 50% of capital gains is taxed. I have about 900k in capital gains. So I'll be taxed on 450k if I sell all at once.

>> No.27784729
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27784729

>>27782559
why would you use shakepay for anything other than the free sats?

>> No.27784933

>>27784729
I just wanted to buy bitcoin

>> No.27785018

>>27784726
You can take $1500 out of bitcoin ATMs without ID a day if you really want to get around taxes, though the high exchange rate is a tax in itself and you won't be able to put huge amounts of money in your bank without them questioning you.

>> No.27785121
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27785121

>>27784933
Use Newton. I have a referral code if you want it so we both get $25 if you trade over $100 CAD.
Actually I have a shakepay referral code as well if you want $30 free bucks.
Although if you're selling a mil worth of btc you probably don't need that do you lel.

>> No.27785928
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27785928

>>27784624
Hey nigger watch your tongue. The white ethnostate is comingz this land is too vast and great for shitskins.
Based Berta

>> No.27787162

off ramp through the UK, no taxs then

>> No.27787541

open a business bank account and use coinbase you nigger. also talk to an accountant. your gunna get assraped in federal tax and its worth looking into paying as little as possible.