How do you deal with taxes?

[Anonymous No.29001658]

I'm a newfag to crypto. How do you guys deal with taxes?

[Anonymous No.29001763]

>>29001658
>How do you guys deal with taxes
by not paying them,

[Anonymous No.29001766]

>>29001658
Not a problem in Nevada

[Anonymous No.29001783]

>>29001658
Just don't report them idiot

[Anonymous No.29001843]

>>29001658
you spelled texas wrong, there's no such thing as a taxes.

[Anonymous No.29001850]

I go to a CPA with insurance. I tell them everything and if they get something wrong, they'll take the heat.

[Anonymous No.29001889]

>>29001763
>>29001783
pls guys srsly help a fren out

[Anonymous No.29001935]

>>29001658
automated solution via koinly (synced to my FTX account)
also its not that hard if you take the time to study CGT

[Anonymous No.29001958]

>How do you deal with taxes?

[Anonymous No.29002074]

>>29001658
What country are you from fren?

[Catarina Martins BE No.29002134]

>>29001889
this>>29001935

[Anonymous No.29002259]

>>29002134
>>29002074
>>29001958
>>29001935
>>29001889
>>29001850
>>29001843
>>29001783
>>29001766
>>29001763
>/biz/ on normal days
GIRLS SHOULD BE PAYING ONLYFANS TAX REPORT TO THE GOVERNMENT
>/biz/ today
FUCK TAXES BRING ME BIDEN

[Catarina Martins BE No.29002355]

>>29002259
Women should pay taxes so they can see how much better staying at home cooking is.

Biden wants more taxes wtf are you talking about

[Anonymous No.29002366]

>>29002259
It's how you can tell the difference between cryptofags and entrepreneurs.

[Anonymous No.29002376]

>>29001658
>>29001889
Every time you sell crypto, whether for fiat or directly exchanging it for another crypto, you trigger a capital gains or loss event. When exchanging crypto-to-crypto, you will need to record the market value of both coins at the time of the exchange to determine whether your net worth increased or decreased, and by how much.
Afaik in burgerland capital gains require holding onto an asset for a year. If you held onto it for less than that, your gains are taxed as income rather than capital gains.

[Anonymous No.29002392]

>>29002259
Yes, I want to make money and want people I dislike to not make money. Is that somehow surprising?

[Anonymous No.29002460]

>>29001783
>>29001843
What the fuck, I cant just not report millions of dollars. Are you guys poor as fuck or what? Do you not live in the USA?

[Anonymous No.29002500]

>>29002392
lmao

[Anonymous No.29002559]

Ignore 99% of biz, use an auto tax website like Koinly and its easy. Man people here are retards

[Anonymous No.29002591]

>>29002460
Can't tax what I """""""""""don't""""""""""" own

[Anonymous No.29002634]

>>29002460
It's called tax haven and off-shore bank account and monero and zk-snark and burner os and L@ and DEFI

[Anonymous No.29002637]

>>29002460
>Are you guys poor as fuck or what?
yes

[Anonymous No.29002636]

>>29002591
Then how do I cash out? They are going to wonder where millions of dollars came from.

[Anonymous No.29002639]

>>29002559
I like fucking with the IRS because I overpay taxes so an audit would be hilarious.

[V. I. Lenin No.29002717]

https://bitcoin.tax/r/pYmtgWEY
Use this site (and my referral) only 40$ to determine tax you owe.
I traded ~5k and only owed 100$

[Anonymous No.29002728]

>>29001658
If you are cashing out, tethering up, you made a mistake.

[Anonymous No.29002764]

>>29002392
this

[Anonymous No.29002827]

>>29002559
You're a dumb goy especially if you're not dealing with American revenue agents. Western countries collapsing and balkanizing within the year anyway

ALSO YOU DON'T HAVE TO PAY TAXES ON STAKES UNLESS YOU LIVE IN THE 5 LISTED COUNTRIES WHICH MOST OF YOU DO NOT SO READ:
https://www.coindesk.com/library-congress-report-staking-mining-tax

[Anonymous No.29002828]

Input trades into tax software as I make them, software gives me estimate of how much I owe, I make estimate payments to IRS throughout the year.. doing it like this allows you to look at total position at the end of the year and see if there is anything you can sell to harvest losses

[Anonymous No.29002893]

>>29002634
USA has FATCA, really hard to get an offshore account. Most exchanges wont convert to dollars without Know Your Customer, and once they see im american most wont even let me join.

[Anonymous No.29002937]

>>29002636
no they won't because you don't have millions of dollars

[Anonymous No.29002966]

>>29002259
If women can have double standards why can’t I?

[Anonymous No.29003051]

>>29002937
This. Anyone with millions of dollars in crypto would be hiring a world class CPA and not getting tax advice from 4chan lmao

[Anonymous No.29003059]

>>29002828
are estimate payments required? What happens if I didnt pay them?

[Anonymous No.29003089]

Unless you make a fuckload i reslly woudlnt worry wuit being s cuck

[Anonymous No.29003130]

>>29002893
Burning so to speak your US citizenship is what I'm getting at.

[Anonymous No.29003140]

>>29002392

[Anonymous No.29003152]

>>29003051
or learn it. kek.

[Anonymous No.29003578]

Open 2 companies. one local, one international in a tax friendly location.
Make your local company taken a loan from the international company with a high interest.
From the local company cash out crypto and using the interest from the loan as a tax deduction
Only pay yourself a small salary from local company but use company credit lines (your crypto profits) for 100% of your transactions.

Congratulations you've zero summed your tax.

[Anonymous No.29003749]

>>29003051
what is a CPA going to do that turbotax wont?

[Anonymous No.29003765]

>>29003130
How the fuck does that get you citizenship elsewhere, larpfaggot?

If I planned to make a little more this year I'd move to some country they don't give a fuck but right now with a humble 6 figures fucking with the IRS is like fucking with the mob.

[Anonymous No.29003816]

>>29003749
Get you writeoffs. Turbotax sucks balls if you're a business owner.

[Anonymous No.29003947]

>>29003765
YOU DON'T NEED A CITIZENSHIP. YOU GET A RESIDENCE PERMIT WHICH IS FUCKING EASY TO GET IN KEY HAVENS JUST THROUGH INVESTMENT IN THE COUNTRY OR BANK DEPOSIT ALONE IYDYOR DUMB NIGGER POOP FACE

[Anonymous No.29004040]

>>29003816
Im not a business owner tho. Can they really write off massive crypto gains? They arent magic. It was my understanding that crypto is pretty simple; sold price - bought price = taxable gains. Turbotax has a form specifically for crypto.

[Anonymous No.29004065]

>>29001658
Taxes?

[Anonymous No.29004314]

don't ask, don't tell. when you've accumulated enough to live on some tropical island and never have to work again, execute your escape plan. go somewhere where crypto is no taxed. never go back.

[Anonymous No.29004756]

>>29002376
No, there are short term capital gains and long term. Short term is less than a year, long term is more than a year. Your tax rates depends on the actual amount of gains. Just Google this shit, it's not that difficult.

[Anonymous No.29004846]

Reddit is a helpful resource unfortunately in comparison to /biz/, just go there.

[Anonymous No.29004855]

Imagine paying taxes to the US.
>Most powerful terrorist organization in the world.
>Steals money from poor people to maintain a 10.5% poverty level.
>Spends all its money on a military so it can prop up the dollar, kill babies, and rape women and children instead of helping its population of citizens.
>Allows people to go homeless and without food.
>Prices medical care so high that most people can't afford to go to a doctor or hospital and have to deal with sickness and injury with no medical help.
>Has the largest prison population on the planet almost solely for minor drug offenses.
>Largest dealer of illicit drugs on the planet.
>Denies people freedom and basic human rights.
>Props up niggers and kikes like they were gods and punishes white men simply for existing.
If you live in the US don't pay tax.

Stop supporting terrorism and liberals via tax. Launder your crypto.

[Anonymous No.29004873]

>>29004756
>Short-term capital gains result from selling capital assets owned for one year or less and are taxed as regular income.
>and are taxed as regular income

[Anonymous No.29005093]

>>29002259
Wow you mean people are looking out for their own interests? Mind blown xddddd

[Anonymous No.29005765]

>>29004855
Man, we don't have a choice. I understand how fucking frustrating and unjust it is, but you simply just can't fuck with Uncle Sam if he wants his money, even if he wants it to fund red rooms.

[Anonymous No.29006017]

>>29001658
Cash out into Silver
Sell the Silver As you need in small amounts that cannot be traced

[Anonymous No.29006021]

>>29001658
>pic related
>le newfag to crypto
OBVIOUS DATAMINE THREAD
GO HOME FED FAGGOT
GO HOME IRS

[Anonymous No.29006064]

It’s not even your crypto if you don’t have your own private keys.

Taxation is theft anyway.

[Anonymous No.29006174]

>>29006021
this

[Anonymous No.29006581]

You don't

[Anonymous No.29006644]

>>29004873
So I'm right... It's been at least two decades where I have to contend with such taxes.

[Anonymous No.29006756]

>>29001658
>he thinks i have profits
oh sweaty no

[Anonymous No.29006797]

>>29001658
hire a cpa

[Anonymous No.29006796]

>>29001763
This. But unironically.

[Anonymous No.29006887]

>>29001658
>How do you deal with taxes?
Simply by not taking part. I think I know better where my money should go and it's definitely not kikes, niggers and single mothers

[Anonymous No.29007112]

>>29002392
Holy Mother of based

[Anonymous No.29007554]

>>29005765
not only that but if you moved out of country for work, unless you renounce your citizenship the irs wants the tax off foreign made money

we’re the only country that has this fucked up tax scheme

[Anonymous No.29007943]

You don't owe shit if the IRS doesn't audit you, always remember that