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5157469 No.5157469 [Reply] [Original]

How do you not get jewed by taxes when cashing out?

>> No.5157521

>>5157469
Just pay the fucking shit nigger. Hold for more than a year it comes way the fuck down at that point.

>> No.5157538

>>5157469
1. Send coins to binance or other foreign exchange.
2. Buy gold bars from exchange.
3. Sell gold bars.

It will cost you a little, but not 50%.

>> No.5157540

>>5157469
not live in america

>> No.5157541

Yeah. Nigger.

>> No.5157547

>>5157469
Im in canuckistan so the taxes here are literally USSR tier. Fuck it, I will fight to legally change it in the future, but I'll pay my share.

>> No.5157568
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5157568

I deploy to Turkey next year for a year, which is completely tax free.

>2017
>not fighting for kikes to get perks

>> No.5157601

Now ignore you want to get creative, you have options. Like start a charity that helps runaway teenage grills or something. Gift your highly appreciated cryptoassets to the charity. Pay yourself to run the charity. You do a great job, so give yourself a raise. You need some help. Your wife has the skills you need, hire her! And your kids all come to work full time for the charity when they get to a certain age.

>> No.5157618

>>5157538
crypto -> gold do not pass muster for 1031 exchange, prepare to get ASS FUCKED.

PAY YOUR CAPITAL GAINS TAXES.

>> No.5157635

>>5157469
>he doesn’t know he has to pay tax every time he does crypto to crypto trade too

OH BOY

>> No.5157791

Wtf how do you track that even>>5157635

>> No.5157893

Do you have to pay taxes if you don't cash out?

How do I cash out without normiebase

>> No.5157898

JURY OF YOUR PEERS NIGGERS

THIS UNCHECKED AGGRESSION WILL NOT STAND

>> No.5157925

>>5157791
any decent exchange allows you to export your trade history + deposit/withdrawal history

>> No.5158321

>>5157791
it doesn't really matter the math works out the same as (gross-initial) x tax

>> No.5158420
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5158420

>>5157469
you dont have to pay taxes if you are a nigger and never cash out

>> No.5158436

>>5157898
That's just like...your opinion, man.

>> No.5158469
File: 179 KB, 375x375, laughing-like-a-king-homer-simpson.gif [View same] [iqdb] [saucenao] [google]
5158469

>tfw all crypto autists spend their new wealth on political campaigns to remove crypto tax

>change the system from within

>> No.5158485

>>5158420
Then why get in in the first place

>> No.5158553

>>5157469
Turn your coin value into a large amount of an easily sellable commodity with a relatively stable price. Such as something you can buy and sell for 1$. Like a toy or something.

>> No.5158566

>>5157893
no

figure it out yourself

>> No.5158594

>>5158485
because in the near future everything is run on crypto and you wont need fiat you dumb niggerooni

>> No.5158638

>>5157618
No faggot

>> No.5158639

You guys really shouldn't be worried about cashing out.
By 2020, there will be rules in place on how to.
Plus if you're cashing out now before The Halvening, you're a moron.

>> No.5158704

>>5158485
There are many ways to spend it without cashing out.

>> No.5158710

>>5157469
Localbitcoin

>> No.5158766

>>5158553
This is a great way to end up with millions of useless toy.

>> No.5158840
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5158840

By living in Switzerland. We dont have jews here draining all the money

>tfw no capital gains tax
>tfw cryptos are not under income tax

Enjoy getting buttfucked by your government

>> No.5158919

>>5158766
But you could sell it to a store, or someone who has a high demand for the commodity. It's kind of like turning an object itself into a currency. Perhaps some sort of tulip boom 2.0 could arise from that kind of route. It takes a small spark to start the fire.

>> No.5158926

How the fuck do you even keep track of every transaction in the volatile world of crypto?
Everything moves so fast yet they expect you to sit down and make records of every move you make. What about swing traders that make transactions every few minutes? There's no way they're keeping accurate records at that pace. The law needs to change.

>> No.5159031

>>5158926
i'm just going to pay tax when i pull out my gains in USD, senpai. I'm a poorfag who has under $5k invested so if they want to come after me for $60 in taxes then whatever, they're dumb

>> No.5159201

>>5157469
buy palladium or gold with your crypto. Slowly sell off under the table for cash locally.

>> No.5159295
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5159295

>>5157469
>How do you not get jewed by taxes when cashing out?

Talk to an accountant, they will write everything "down", which in turn makes you legit.

There are a multitude of ways to legitimately write down your tax bill.

1. Computer Costs (New PC & printer, write it down)
2. Electricity (write down)
3. Home office use (write down)
4. Operating systems and software licenses (write down)
5. Exchange costs and transfer into Fiat (write down)
6. Mobile phone (write down)
7. Account costs (write down)
8. Research material (write down)
9. Basic earnings/tax free allowance/self employment rebate for the year (write down)

It goes on and on.