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4207900 No.4207900 [Reply] [Original]

What is the best way to avoid capital gains tax in the US on your bitcoin earnings?

>> No.4208024

Earn less than 37 grand and wait a year to cash out

>> No.4208398

>>4208024
What you cash out is still considered taxable income so if you make 30k and then cashout then it's going to put you into the next tax bracket and you owe a lot more taxes.

>> No.4208803

>>4207900
Don't report it

>> No.4208861

move out of the US

>> No.4208869

>>4207900

SALT.

>> No.4208888

>>4207900
>BTC
>Cashing out

???

>> No.4208904

>>4207900
if the relief bill passes later this year, you wont have to pay cap gains on anything under $601. so just sit there on coinbase for a month consistently cashing out until youre a millionaire

>> No.4208930
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4208930

on a similar note
which country in the eu has the lowest taxes / least regulations with crypto profits?

>> No.4208965

>>4208904
a month? what?

>> No.4208970

>>4208904
Can you elaborate/link me what you're talking about? I can't seem to find anything about it other than Hurricane Relief Bills

>> No.4208987

>>4207900
Invest in LINK so your money goes away, thus less obligation to pay taxes

>> No.4209010

>>4207900

1BcWLCMeRtt2CGq9kuUui5hC9qiwHSPk1n

deposit some btc here and i will open a bank account outside of the us for you

>> No.4209029

>>4208970> >4208965

https://coincenter.org/pdf/CTFA.pdf

dont know if for sure it will pass by EoY, but lots of chatter about this. all depends on if congress can get off their asses and do something useful.

>> No.4209082
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4209082

>Bitcoin
>Earnings
Soon you will probably have to pick between one of those choices. If you bought Bitcoin for anything more than 1k to 3K, and you're still holding, you will probably suffer severe losses. also, pay your taxes... it helps the less fortunate and helps build infrastructure. You do enjoy public parks, beaches, clean roads and all of that, right anon?

>> No.4209116

>>4209082
Altcoiner detected. Enjoy your coin being worth less sats daily.

>> No.4209149
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4209149

>>4208987
>Linkies..
>>4209082
>Deluded faggots..
Every single time.

>> No.4209204

>>4208869
Explain
>>4208803
The IRS would still find you though

>> No.4209266

>>4207900
Keep them in btc. You can buy shit with it and taxes are covered at the point of sale

>> No.4209326

>>4207900
I've been doing research on this because my stack has grown inordinate.

A single tax filer with no other income can claim $37950 (after subtracting basis) per year without paying capital gains tax.

I 'gave' my young brother Bitcoin so he could cash it for our family, and I can do the same legally.

We can get ~$75k / year tax free as long as we have no other income (I'm still looking for work in my field, he is a college sophomore)

>> No.4209355

>>4209116
sats mean nothing
the value of a "sat" has been inflated 7 times with the use of tethers. once tethers crash, due to US user ban on bitfinex, what will be the value of a tether? what about a "sat"? what will give any value to bitcoin? the only thing keeping the price up is the tether influx.

>> No.4209511

>>4207900
>earnings
how do you define this?

>> No.4209564

niggas can some one tell below

1. what is % we have to pa as capital gain tax?
2. also will it change state to state ?

>> No.4209746

>>4209326
>A single tax filer with no other income can claim $37950 (after subtracting basis) per year without paying capital gains tax.
Would that apply to just what's cashed out? Also would it apply to all crypto gained, via cryptobusinesses, trading etc, or just to capital gains from investing/

>> No.4209921

>>4209204

>explain

Read through this thread: >>4188183

Tl;dr for why is that instead of cashing out your BTC and paying capital gains, you can instead take out a SALT loan for fiat, and pay off your loan with more BTC, ETH, or Ripple + SALT tokens on the interest, and get back your collateral you put up for the loan to get the fiat.

>> No.4210154

>>4208888
This is the answer. You can't just start playing with crypto and spouting all its benefits and then cash out to fiat. Your in this for life.

>> No.4210619

>avoid cap gains tax
Report it as regular income;-^)

>> No.4210760

>>4209921
i want in. does SALT have competitors

>> No.4210956

Can't you just withdraw on bitcoin atms?

>> No.4211184

>>4210956
Yea

>> No.4211706

>>4210956
>???
>>>4210154 #
>.
How would they even know if I withdrawal from BTC ATM and had cash?
I've never used the ATM so I don't know what info it collects

>> No.4211756
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4211756

>>4208869
>Strategic Arms Limitations Talks
its a long shot ... but it might just work

>> No.4212241

uh, just buy shit with it. why would you need to cash out.

>> No.4212914

>>4212241

You can't buy much with btc