/biz/ - Business & Finance

[Anonymous No.52792527]

You literally have to pay taxes on whatever you just deposited. Thanks for playing.

[Anonymous No.52792559]

I remitted payment to the tax authorities immediately after staking, which was about 25k (50% of 7 x 7000)

[Anonymous No.52792584]

No i dont

[Anonymous No.52792595]

>>52792584
Yes you do.

[Anonymous No.52792616]

>>52792527
what are you actually trying to get out of these posts? You know we cannot unstake for at least a year, right? So we can't sell to you.
Or did your superiors not clue you in yet? Your pajeet wage is gone now. There's no point anymore for at least a year.

[Anonymous No.52792625]

>>52792527
You have to fud this token that you're priced out of so you can afford to feed your family this evening.

[Anonymous No.52792630]

>>52792616
did u pay ur taxes, stinkie

[Anonymous No.52792634]

>>52792559
(you)

[Anonymous No.52792637]

>>52792595
>he pays taxes on crypto
kek this is the fud we have to deal with now

[Anonymous No.52792641]

>>52792616
>we can't sell
this is always so fucking funny, literal pay pigs

[Anonymous No.52792645]

>>52792527
Why would you pay taxes when all you have is loss? Stinky Linkies

[Anonymous No.52792647]

>>52792527
I can’t unstake bro

[Anonymous No.52792679]

>>52792527
I never learned how to sell.
Only bought link.
Never learned how to unstake, only staked.

[Anonymous No.52792693]

>>52792559
>7*7,000
Damn, you OG whales have it so easy in life.

[Anonymous No.52792699]

>>52792527
lol. lmao.

[Anonymous No.52792718]

>>52792527
No, they have to pay taxes on their staking income.

Have fun calculating the $ value of every 0.01 LINK you earn stinkies.

[Anonymous No.52792726]

>>52792718
>Have fun calculating the $ value of every 0.01 LINK you earn stinkies.
Perhaps I won't. What's the IRS going to do about it?

[Anonymous No.52792732]

>>52792527
Nope I don't live in a shitty country

[Anonymous No.52792743]

>>52792527
i used brave browser and made a new meta mask to connect with my trezor which i only use with vpn.
come at me irs

[Anonymous No.52792793]

>>52792726
Biden hired 80k new agents to find people like you.

[Anonymous No.52792847]

>>52792527
Spinning up new FUD angles as you go huh? Imagine being so assblasted

I already answered your shit here faggot
>>52791712

[Anonymous No.52792850]

>>52792595
No I dont. Not in my jurisdiction. Anyway it constituted a loss for me so I would write it off.

[Anonymous No.52792876]

>>52792847
your post was deleted because it was misinformation :^)

[Anonymous No.52792881]

>>52792726
pay your taxes chud or we're going to SWAT you

[Anonymous No.52792931]

>>52792527
No fiat was involved in staking, rewards aren't even in fiat too.
You suck at math.
You will have fun once you cash out, it's when they will ask where did fiat come from. Save receipt from your bank deposit to exchange when you bought linkies. Banks keep this info for like 5 years or something. It's all you will need, but it's in my country. sucks to be american, you will probably get taxed 70% on all your linkies.
+
But again, why would you cash out linkies?
??
?

[Anonymous No.52792932]

>>52792527
Why would you have to pay taxes? You don’t sell your link, you just move it to a smart contract wallet, it’s still yours.

[Anonymous No.52792952]

this is fud, one of the good things is that it won't be liable for taxes
for those new to crypto just watch for ANY swap transaction, that's disposal in most western countries
a simple deposit and you're fine
however, the build airdrops may be taxed at point of receipt, be careful there

[Anonymous No.52792954]

>>52792527
Jokes on you. My bags are in heavy losses

[Anonymous No.52792958]

>>52792527
Not until you withdraw it to your wallet pleb, and then your cost basis is 0 or whatever you were rewarded so its easy as shit to calculate

[Anonymous No.52792990]

Babe wake up, new link fud angle just dropped

[Anonymous No.52792997]

>>52792595
No i dont

[Anonymous No.52793008]

>>52792793
80k niggers and trannies won’t be able to find me

[Anonymous No.52793021]

>>52792527
I didn't stake but for those who did, unless you received another token as a placeholder when you staked your link then staking is not a taxable event meaning OP is fake and gay.

[Anonymous No.52793028]

>>52792584
>>52792559
>>52792793
>>52792743
>>52792932
>>52792931
Stare into my eyes and hear my words linkies

Let's get one thing straight. You WILL stake those link bags. You WILL be happy with a 4% commission. That much I can tell you. A guard will come by your pod three times a day to administer the mood detection test. Should it read "insufficiently staked," there will be an appropriate response. So, let me say it real clear. You're going to lock the tokens up for a while. You're going to share your profits with the state. Yes, it will mostly dump, and you're going to love it.

[Anonymous No.52793031]

>>52793021
staking rewards are income

[Anonymous No.52793034]

>>52792527
No taxes for me, been holding those longer than a year before and that means no taxes in my country.

[Anonymous No.52793043]

>>52792718
U dumbass, we arenot getting the reward until the end of the period. So only pay at the end of the period

[Anonymous No.52793049]

>>52792876
I can see it
>What taxes faggot. Maybe in your third world shithole, but in my jurisdiction the act of staking is not a taxable event.

>Are you ESL idiots going for the sour grapes tax FUD?

[Anonymous No.52793077]

>>52793031
Op said you have to pay taxes on what you deposited, they didn't mention rewards.
I believe you're right that any rewards are indeed taxed, perhaps as ordinary income

[Anonymous No.52793096]

>>52792630
>>52792641
>>52792793
>>52792881
>>52792958
>>52793028
>>52793031
kikes gonna kike & niggers tongue my anus

[Anonymous No.52793107]

>>52792527
>You literally have to pay taxes on whatever you just deposited
you don't pay taxes on capital losses.

[Anonymous No.52793119]

>>52792595
>Yes you do.

crypto isnt money or an asset

[Anonymous No.52793130]

>>52793031
But we dont get the rewards until the unlock. The rewards are still in the contract and not in your wallet.

Maybe the link team did this shit on purpose since they are so scared of being called a security

[Anonymous No.52793874]

>>52792793
>>52792881


I'm not cashing out, I ran my own node to send the transactions. I used a less US friendly exchange to send my Link and ETH to a wallet. How would they pinpoint my wallet?

[Anonymous No.52794715]

>>52792952
>for those new to crypto just watch for ANY swap transaction, that's disposal in most western countries
Yup. It didn't convert it to alink or some nonsense.

[Anonymous No.52794797]

>>52792952
>however, the build airdrops may be taxed at point of receipt, be careful there
I'm fairly certain this is accurate. All that's needed is to calculate the taxable burden at the time of receiving the airdrop and then sell enough tokens to cover the tax burden or otherwise set other funds aside if you don't want to sell the new build tokens which seems reasonable considering there is some expectation that at least some will giga moon. Having a stack of cash set aside would be wise.