/biz/ - Business & Finance

[Anonymous No.53802594]

I work off the books and simply just put the money in my bank and then buy bitcoin. I don’t pay taxes on that income. How fucked am I ?

[Anonymous No.53802648]

Anons will try to scare you but for the most part as long as you aren't rich you'll probably be fine, just make sure if you ever cash out a large amount to consult a CPA to cover your bases. Audits are random unless politically motivated, and not very common.

That said if they ever do audit you, you can get fucked in the ass hard. So you should probably do the CPA thing within a decade just in case.

[Anonymous No.53802781]

keep it under the minimal taxable income per year and nobody is going to care.

[Anonymous No.53803727]

>>53802648
wont a CPA ask you if you pay your taxes, and won't they report you if they find out?

also what constitutes "rich?"

[Anonymous No.53803762]

Move to El Salvador. Cash out there. Never look back.

[Anonymous No.53805161]

>>53803762
this

see you on the beach king

[Anonymous No.53805187]

>>53802648
>Audits are random
They aren't. If you run your own business or have a million deductible items, or have strange income sources you're 1000x more likely to be audited than a wagie filing simple form.

[Anonymous No.53805197]

>>53802594
I mean youll be fine until you sell, also if youre putting loads of money into a bank and not paying taxes on it you might get caught that way

[Anonymous No.53805309]

>>53802594
make sure to always have a dark stack available. an unknown amount of monero so if they do fuck you in the ass then you still have your dark stack

[Anonymous No.53805589]

>>53805309
i meant fiat currency

[Anonymous No.53805593]

>>53802594
Your back won’t rest you out but your exchange will when you cash out, then you’ll owe back taxes on what you used to buy the bitcoin in the first place. I would keep good records

[Anonymous No.53805601]

>>53805593
*your bank won’t rat you out

[Anonymous No.53805732]

>>53802594
Income taxes are voluntary, anon