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/biz/ - Business & Finance

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5301668 No.5301668 [Reply] [Original]

don't be stupid /biz/, remember to declare every last satoshi

>> No.5301792

>>5301668
Relevant. UK fag here. Didn't keep any records and therefore needed to cash out when I hit 11k. Just before the crazy bullrun over the past weeks. Feels bad man

>> No.5301811

>>5301668
Friendly reminder to you that not everyone lives in Burgerland, and that some countries have reasonable tax laws where you only have to pay taxes when you change your Cybercoinz to actual currencies.

>> No.5301814

>>5301792
why didn't you move to a zero capital gains tax jurisdiction?

>> No.5301867
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5301867

What crypto holdings?

>> No.5301890

Nobody does this. Fuck off.

>> No.5301904

>>5301814
>Uprooting your entire life over 1k in taxes

>> No.5301921

>>5301814
>moving to a shithole because of 11k...

Nah mate I'm good. At least I made some money off this

>> No.5301927

this is why is trade on binance

>> No.5301970

>>5301927
that's tax evasion for when they eventually obtain your trade logs
enjoy going to jail

>> No.5302079
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5302079

>>5301970
binance only requires an email address

>> No.5302124

Do I need to do this if I haven't cashed out? I thought if I keep it in for a year it becomes a long term investment?

>> No.5302172

>tfw decided to gamble away my bitcoin on bitmex right before this insane mooning

>> No.5302177

>>5302079
Check crypto purchase with KYC. Check blockchain. Contact binance. You're fucked.
Seriously if you think the government doesn't already develop blockchain analysis software you are just dumb. Enjoy prison

>> No.5302203

>>5302124
I know the tax law of Germany UK and US. They all require taxation of every single shitcoin trade at its fiat value at the time of trading

>> No.5302209

>>5301867
the ones you bought through coinbase

>> No.5302224

>>5301792
Explain. Why did you have to cash out? They won't know what your portfolio is worth.

>> No.5302237

>>5302177

Why are you so upset over other people's decisions?

>> No.5302243

just pay your taxes guys. in a few years you wont get anally raped

>> No.5302251

>>5301668
>they still think it is anonymous
>can't figure why they have this branding mark on their skin
>bought the gimmick

20/Apr/2018 and you will no the reason for everything

>> No.5302257

>>5301668
>tfw act 22 allows for Puerto Rican citizens to pay no capital gains tax on their profits.
>tfw i have family in Puerto Rico
>tfw i might just go to Puerto Rico and become a citizen just so i can cash out, buy a mansion, and hire hot latina maids to clean my house and suck my dick for nickels a day

>> No.5302265

>>5302124
Nobody does, don't be a cuck.
>>5302243
I don't have the money to.

>> No.5302432
File: 250 KB, 1178x1248, 1480646190279 (1).png [View same] [iqdb] [saucenao] [google]
5302432

>getting taxed on currency

>> No.5302725
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5302725

>>5302224
seriously am I going to get jewed over for holding cryptocoins? You didn't tell me about this /biz/.

>> No.5302830

>>5302725

of course it counts
even if you hodl doge
you have to pay every year you hodl

ffs learn your taxes

>> No.5302931

>>5301668
>unknown amount of monero

>> No.5303283

Just listened to a story on the radio yesterday about how the IRS is so severely understaffed and underfunded and using software developed in the 70's that it will have severe issues implementing the new tax legislation.

>Thinking they can take your gains

>> No.5303327

>>5301811
>"""reasonable""" tax laws
>200% VAT when you go to buy a car
>"""reasonable""""

>> No.5303393

>>5302830
This is untrue. Cryptocurrency is considered property. They tax it based on property tax and only if there is profit. (You have to exchange it to cash to make profit)

>> No.5303425

>wait 4 years
>any crimes expire
>see btc going even higher

feels good man

>> No.5303441

>>5302224
If you get over 11k of profits annually in the UK I'm pretty sure you have to declare it.

>> No.5303551
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5303551

>>5301890

>"anon, where did you get the money to buy this car? It says here you live with your parents on no income"
>"..."
>"anon, you're coming with us."

>> No.5303631

>>5303441
Presumably that'd only count if cashing out £11k+ and not making the equivalent in btc in profit online.

>> No.5303634

>>5302931
this so much