/biz/ - Business & Finance

[Anonymous No.56917545]

Reminder that you should take profit before 2024, as whatever unrealized gains you earned in 2023 will be declared realized at the turn of the year.

Yes, if you are American, you can be taxed on unrealized gains from 2023, lose your funds in a crash in early 2024, and owe taxes you can't pay because you never took profit.

[Anonymous No.56917565]

>>56917545
I'm long on the collapse of the federal government.

[Anonymous No.56917567]

>>56917545
Not how it works.

If you had any successful trades and realized gains, be sure to break out the tax amount before year end though. If your holds go to zero, or whatever, in January, you still owe for any taxable gains in '23.

[Anonymous No.56917594]

>>56917545
>unrealized gains you earned in 2023 will be declared realized at the turn of the year.
bs

[Anonymous No.56917752]

suck my dick, IRS cocksucker

[Anonymous No.56917800]

>>56917545
literally impossible. A court ruling can't result in ex post facto law. Suck a bag of dicks moron.

[Anonymous No.56917923]

Only if you trade incl. crypto crypto. So if you swap dickcoin for asscoin, its realized and if you are up 100x make sure you cash out a little to pay the tax.

[Anonymous No.56918389]

>>56917545
Normies are so fucking stupid. They're calling for unrealized gains on the rich, when they are too fucking retarded to know this is how federal income taxes started. It'll eventually come down on all of us.

[Anonymous No.56918431]

>>56917545
>"y-you need to give us all your money right now!"
God I love having more guns and higher caliber ammo than the national guard

[Anonymous No.56918497]

Haha, glowniggers are so desperate to clean us of our money that they hire pajeets to post on 4chins to make anons create a taxable event.
Not today, Raj!

[Anonymous No.56918529]

>>56918431
Hey, what's the win/loss record on the geniuses that load up on ammo, and take on federal agents storming their compound?

[Anonymous No.56918585]

>>56917594
not bs, someone is suing over it:
https://www.msn.com/en-us/money/markets/unconstitutional-this-washington-couple-took-their-15k-irs-bill-to-the-supreme-court-and-it-could-cost-the-us-a-jaw-dropping-340b-if-they-win-pundits-say-here-s-why/ar-AA1l9hIw?ocid=msedgntp&cvid=844fbd08d23f4c93afbe43495993e1cb&ei=23

Reshaping the tax code
Charles and Kathleen Moore of Redmond, Washington State, are the plaintiffs in this case. In 2005, the couple invested $40,000 to buy a 13% stake in KisanKraft, a manufacturing business based in India. However, when Congress passed President Donald Trump’s signature Tax Cuts and Jobs Act (TCJA), it placed a levy on U.S. taxpayers who owned more than 10% of a foreign company.

Based on this new rule, the Moores paid $14,729 in taxes, despite telling American Enterprise Institute, a center-right thinktank, that they hadn't received a penny from the business at that point. They’re now seeking a refund, arguing that the tax is “unconstitutional” and “an unapportioned direct tax in violation of the Constitution’s apportionment requirements.” In simple terms, the couple believes the government has no right to tax unrealized gains.
A “gain is not income unless and until it has been realized by the taxpayer,” lawyer Andrew Grossman reportedly told the Supreme Court justices during the hearing.

One of their top concerns is that a requirement that income be realized before it can be taxed could lead to increased “economic distortions, create policy uncertainty and reduce federal revenue.” Calling it “economically incoherent,” the AEI fellows add a decision in favor of the Moores could lead to the reintroduction of problems previous legislation sought to address, and thus increased wealth disparity as the wealthy hold on to assets strategically and look to find opportunities to purchases or sales that allow them to avoid paying tax altogether.

[Anonymous No.56918610]

Everyday I wake up I'm glad I am not American have you see how far down the USA is on easy of doing business & economic freedom indexes?

My countries in the top 4 always and has been number one of both twice.

God Americans are fucking goy cattle fr fr.

[Anonymous No.56919382]

man i hate taxes but if i have to pay them, then i'm glad to pay them in my country. the way it works if 100% of you income is from crypto is just "pay 25% of the amount of money you spent this year" and that's it. Spent 100K? 25k to the government. 200k? 50k to the taxman. makes everything so easy

[Anonymous No.56919445]

>>56918529
we're all already dead

[Anonymous No.56919483]

>>56917545
> whatever unrealized gains you earned in 2023 will be declared realized at the turn of the year
You’re just a fucking moron that’s not at all how taxes works. Unrealized gains don’t magically become realized at the turn of the year, can you imagine the chaos of trying to implement and enforce something like that?

[Anonymous No.56919510]

>>56917545
>>56917567
>>56917594
>>56917800
>>56918585
>>56919483
I don't know what to believe

[Anonymous No.56919540]

B O A T I N G
O
A
T
I
N
G

A C C I D E N T
C
C
I
D
E
N
T

[Anonymous No.56919571]

what is the point of taxing crypto so aggressively?

[Anonymous No.56919581]

>>56919571
You really asking that question?

[Anonymous No.56919587]

>>56919510
>>56919483
There are some scum-sucking kikes that are trying to make unrealized gains taxable, but as far as I know it isn't a thing (yet).

[Anonymous No.56919600]

>>56917545
>glowie trying to get everyone on the hook for gains
what a surprise

[Anonymous No.56919608]

>>56919581
did I stutter?

[Anonymous No.56919612]

>>56919587
I hope they do it. It will literally kill the country if they do and if we're at a point where they seriously considering shit like this, then it's time for the country to die.

[Anonymous No.56919639]

>>56919612
I have mixed feelings on it but certainly feel the call of the void.

[Anonymous No.56919651]

>>56919571
economic control

[Anonymous No.56919663]

>>56918529
>what's the K/D
3:1
Do you think you're going to win?

[Anonymous No.56919664]

taxes = extortion and slavery

[Anonymous No.56919670]

>>56917545
jokes on them i only have unrealized losses thanks for the refund suckers

[Anonymous No.56919677]

>>56919510
It's in scotus now and so far justices are saying it isn't in line with precedent and would change too much of the corpus of financial law. Pretty good chance this never materializes. Muh tax the rich by taxing the poor meme there's probably a yid behind it somewhere. Guess what else. They tried to say unrealized CG were income. Not sure if I should laugh or cry

[Anonymous No.56920111]

>>56917545
Checked and thanks for reminding me OP. I still have a lot of gains from my dexscreener alpha on copytrading that i never actually declared. I will drink one in your memory OP

[Anonymous No.56920165]

>>56918585
>invest in a company in 2005
>over a decade later, hadn't received a single penny
does not compute

[Anonymous No.56921121]

>>56917545
If you didn't liquidate 50%+ of your money into monero by now, you have only yourself to blame

[Anonymous No.56921136]

I remember when I was a kid and I actually wanted to emigrate to America lol. The way everyone is so terrified of the IRS and their convoluted jewish laws over there is hilarious. I just don't pay tax on capital gains. Never have, never will.

[Anonymous No.56921137]

>>56917545
I honestly don’t mind paying taxes and you shouldn’t either. The American passport is like gold in other countries. So much privileges, benefits, and security is afforded to American citizens oversees. You should be thankful you get even breathe American air.

[Anonymous No.56921146]

>>56921137
It's not. You're thinking of something like a Swiss or Japanese passport. Americans are hated in a lot of regions either politically or culturally. You're just as likely to be discriminated against for being American as you are to get special legal protection.

[Anonymous No.56921359]

>>56918585
The levy discussed here is a tax on investments in a foreign company, which in this case is being challenged by plaintiffs who had unrealized gains on their investment. This does not mean every single asset that produces an unrealized gain is taxed, including crypto. There is no statutory basis for this in the United States. You people are drooling retards.

[Anonymous No.56921686]

>>56917545
not when you keep your funds in private wallet and out of IRS surveillance.

[Anonymous No.56921755]

>>56921121
just what i do but with Railgun

[Anonymous No.56921848]

>>56918529
it only takes one blessed retard and the (((agents))) will disappear like dust in the wind