paying short term capital gain tax

[Anonymous No.58153856]

After years of finally browsing this board it fucking happened. I finally got a legitimate 100x. I turned 3k into 300k and I'm speechless. I found this random ass meme cat coin at 3m mcap, saw the team, saw all the whales buying in super early, and just aped in. its up to 250m now

Are there any tips or tricks into mitigating the awful hit short term capital gains take out of your earnings? It's like 140k in taxes, which is fucking bullshit because when your shitcoin gambling you can't avoid it. What do you guys do? Do you park the money aside in USDC and put it in a farm or get yield on it (5% if you put it in a high yield savings account) then take it out next year to pay, sans the extra 15k youve made off yield? is that pretty much the only way to lessen the pain of paying short term capital gains? I can get Texas citizenship by living there for 6 months, there's still time to move there now and at least not pay state short term capital gains. Is that a good idea?

anyway god bless MEW and god bless the solana memecoin casino holy fuck. How do you guys suppress the urge to tell everyone you know that you just made a little over your entire annual salary (100k) in a night. It still feels super surreal.

[Anonymous No.58153991]

>>58153856
i remember when I made $50k in a day, i was so pumped I literally got in my car and drove around with the music pumping as loud as possible, great feeling.

i know it sucks but just pay the tax. gl anon

[Anonymous No.58154443]

>>58153856
congrats. how did you find it? x?

[Anonymous No.58154456]

>>58154443
The stories and information posted here are artistic works of fiction and falsehood. Only a fool would take anything posted here as fact.

[Anonymous No.58154476]

Turn it all into money in your bank account and pay the taxes on it. Sit out this cycle. You'll see coins pop, but as someone who's on his 5th-6th cycle this is the only way to actually walk away with real money.

[Anonymous No.58154561]

>>58153991
cringe

[Anonymous No.58154618]

>>58153856
there's maybe an exit tax in your state and you made the profit while living in that state so you may have to pay there. anyway. step 1: go ask all your questions to a tax lawyer asap, this week. ask him about changing state and capital gain taxes. it will be 300$ well spent. step 2: realize your profits in usdc.

[Anonymous No.58154683]

>>58153856
Unfortunately if you ever plan on cashing it out to pay for real shit you have to pay your taxes, if there was a way to avoid it that didn’t risk your anus in jail everyone would do it

[Anonymous No.58155114]

>>58153856
I remember when I made 100k on $100 with SHIB.

1. Move everything to USDC right now.
2. Consult with a tax advisor and maybe an accountant.
3. Determine what goals you want (max 401k at work? Contribute to your Roth Ira? (there's an upper income limit on whether you can contribute to this)
4. Give yourself a fixed amount now to use for shitcoin gambling. I recommend give yourself $3k and don't allow yourself more than $300 on any one shitcoin
5. Consider parking up to 1/3rd in blue chip coins like BTC, ETH, etc

Also, if you know, is the project team working on anytjing else or staying fixed on this project?

[Anonymous No.58155148]

You can deduct an infinite number of puerto rican hookers. Spend $140k on puerto rican hookers is get out of tax free pass

[Anonymous No.58155327]

>>58153856
Swap to monero and then transfer it out of the exchange wallet and accidentally lose the key oh no you lost all that monero, there’s also monero online casinos and you may live in a country where gambling winnings are tax exempt.

[Anonymous No.58155389]

>>58154561

[Anonymous No.58155427]

>>58153856
Convert to Monero
Say you bought Monero ages ago for a cost basis of $1
Claim long term capital gains on the Monero (20%?)

[Anonymous No.58155438]

>>58155427
better yet : convert everything to monero
lose the keys in a boating accident.

[Anonymous No.58157180]

>>58155114

they're staying fixed on the project, i still have about a fifth of my original position in MEW and I'm letting it ride. these guys are super well connected and immediately attracted insane whales. never seen a project like this before in my life

[Anonymous No.58157210]

>>58153856
Just sell and pay the tax, that's the only way you'll actually have the money

[Anonymous No.58157233]

>>58157210
And any swap you make (including USDC) is counted as a sell

[Anonymous No.58157258]

>>58153856

Nice scam anon, a cat that no one knows.. gg

[Anonymous No.58157269]

>>58157180
Well connected is an understatement. This is the literal definition of insider coin. If they can hit this one too it'll mean the first time wasn't just a fluke.
APU otoh is the complete opposite, as outsider as it gets, both are interesting for different reasons.
Also, at that price he is within 2 degrees away from that social circle.

[Anonymous No.58157312]

>>58153856

why a cat when you can get a bull

[Anonymous No.58157324]

>>58157258

So I take MUMU then?

[Anonymous No.58157334]

>>58157324

Scks to anon

[Anonymous No.58158897]

>>58155427
does this work ?
a-asking for a friend
>>58155438
but then how are you supposed to use it irl anoni

[Anonymous No.58158996]

>>58153856
I remember when I made my first 150x and even 400x on Statera like a retard and I could have made a nice 200x on GHOST/ESH too. I could have had so much money to put into BTC, ETH, AVAX, BNB, Matic, etc. :/

But when I saw -20% on top of what looked like they had already cut almost 30% on my Statera due to poor liquidity I told myself I'll wait till $1.
That shit never came and I eventually lost not just the chance to sell at 45 cents while I had 1 million tokens, but I got phished and lost 90k. (which probably would have been just 50k due to piss-poor liquidity)

I've been poor all my life, I don't understand why I didn't just sold my shitcoin for Ethereum or something less shit like Matic. :/
I don't understand why I didn't even cash out even 10% of it, I cashed out a measly 4% of it.

[Anonymous No.58160310]

>>58158996
same lol fellow retard