are you guys in the USA freaking out about the new taxes on crypto? 30% capital gains tax when you cash out and I heard a 40% tax for TRADING?? WTF! I hope i'm wrong.

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Anonymous Thu Jan 4 02:17:08 2018 No.5853209 [Reply] [Original]

are you guys in the USA freaking out about the new taxes on crypto? 30% capital gains tax when you cash out and I heard a 40% tax for TRADING?? WTF! I hope i'm wrong.

Anonymous Thu Jan 4 02:19:34 2018 No.5853270

I'm an Ausfag, so I am not sure what your tax implications are.

Is this being that all CGT in the U.S. is flat taxed 30% of your total profits, or that 30% of your total profits is subject to income tax (Depending on your income bracket).

Here in Ausland, 100% of your profit is added to your income tax, then taxed accordingly to brackets. 50% is taxable if you hodl for a year or more.

Trying to see which country cucks you more.

>>	Anonymous Thu Jan 4 02:28:47 2018 No.5853514 my nigga trump dropped the capitol gains tax down to 21% if I'm not mistaken. Im not mistaken am I?

Anonymous Thu Jan 4 02:29:14 2018 No.5853523

>>5853270
I think you get taxed up to 30% on your total amount cashed out depending on your income bracket. So if you're high income and you cash out $100k worth of crypto you lose 30% to tax. But whats worse is being taxed on trading crypto so if you are doing a bunch of trades you could be putting yourself in a hole.

I'm not sure how much you'd get taxed on trades but i read 40% somewhere. fucking ridiculous .

>>	Anonymous Thu Jan 4 02:33:11 2018 No.5853627 >>5853514 It was not changed according to NBC article. (not a good source i know) so its 23.8% for the highest tax bracket and 0% for the lowest

>>	Anonymous Thu Jan 4 02:37:37 2018 No.5853743 >>5853209 It depends on how much your total income was.

Anonymous Thu Jan 4 02:40:18 2018 No.5853794

>>5853514
gotta do some LLC shit

THE GIST OF IT:
after 2018 due to the crypto tax, he's saying to report the crypto profits under your llc, so it won't be a capital gain

claim it under an llc or c corp
and there's some shit with a 100% deduction

THE NITTY GRITTY:
http://www.blogtalkradio.com/ghost/2017/12/23/true-capitalist-radio-hosted-by-ghost--episode-522
SKIP TO 1:45

>>	Anonymous Thu Jan 4 02:42:28 2018 No.5853848 >>5853794 Thank you man

>>	Anonymous Thu Jan 4 02:54:52 2018 No.5854176 >>5853794 dude come on. if this was possible everyone would be doing it

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