/biz/ - Business & Finance

[Anonymous No.7225278]

>make 7 figures on crypto
>us government approaches
>"hey goy, quite a profit you've made there, how about you give us 40% in short terms capital gains tax, and another 10% in state tax, sound fair goy?"

[Anonymous No.7225313]

[Anonymous No.7225358]

>>7225278
I don't mind, you didn't do much to get that money

[Anonymous No.7225465]

>>7225358
Perhaps we should go to the rich people who own businesses, doing nothing to make their money, and take 50% from them?

[Anonymous No.7225475]

I'm so pissed. I take the ultimate risk that could have left me out on the street and the moment I make it, the government has the audacity to tax me yet if I fucked up they wouldn't want anything to do with me. They could give two fucks if I starved out on the streets. Now I know what the millionaire and billionaires feel like when people are demanding they pay their "fair share" while they took huge fucking risks.

[Anonymous No.7225500]

>>7225465
Yeah probably.

[Anonymous No.7225512]

>>7225278
immigrants, worthless welfare leeches, and wortheless gov workers need them gibs

[Anonymous No.7225517]

>>7225278
what do they give u on your losses?

[Anonymous No.7225537]

>>7225465
Thats literally what the government already does idiot

[Anonymous No.7225615]

>>7225465
those in tax heavens? where is my torch ...

[Anonymous No.7225710]

>hold for over a year
>quit job and cash out 37k per year
>ZERO% capital burger tax
This is my plan. Fuck yes assholes.

[Anonymous No.7225802]

Taxation is theft
Cyrpto was designed to beat the state

[Anonymous No.7225890]

What is to stop you going to another jurisdiction (country) and withdrawing whatever your tax free allowance is & return home?

When you get to your ‘holiday destination’ convert crypto to jewellery, gold coins, even cash, I am sure you can think of something. You can go back home, as long as you are below your allowance you do not have to claim. Now I would say that if you brought that much cash in and got searched it would probably be confiscated until you prove its yours (difficult) or at the very least you will get searched every time you entered again.

[Anonymous No.7225998]

>>7225278

Melina needs $60,000 to take private jet on her monthly vacation

[Anonymous No.7226096]

>>7225465
>doing nothing to make their money
>said anon while buying and selling speculative cryptocoins
Fucking lmao

[Anonymous No.7226250]

>>7225278
>browse 4chan cryptos because i'm bored
LOL IRS GONNA RAPE YOU, BUBBA GONNA GET SECONDS, JEWS GETS SLOPPY THIRDS HEHEHEHUEHUR
>oh look, it's yet another tax thread
HELLO, I AN IRS, I SET US UP THE BOMB
>fuck you gay niggers

[Anonymous No.7226458]

>>7225890
>What is to stop you going to another jurisdiction (country) and withdrawing whatever your tax free allowance is & return home?

Attempting to open up a bank account to withdraw money will have you extradited by the local authorities in cooperation with the IRS, and then you will be put in prison in the US.

Renouncing US citizenship only works if you've been a non-US citizen for 5 years.

[Anonymous No.7226675]

>what are long term capital gains
get fucked 2017fags

[Anonymous No.7226760]

>>7226675
>wait over a year to cash out
>btc crashes in the meantime
>still have to pay 30% in taxes

[Anonymous No.7226802]

>incorporate a hedge fund before making large sums of money
>pay accountant to cook some books
>pay close to single digits in taxes

Only retards pay anywhere close to proposed tax

[Anonymous No.7226816]

>>7226760
LTCG is nowhere near 30% retard

for poorfags it's literally 0%

[Anonymous No.7226848]

>>7225278

Or even worse

>make 7 figures
>lose over 50% in January

"Yes goy, give us those 7 figure taxes even though you can't obviously pay that because it's worth nothing now"

You basically paid the government money for no gain, now THAT is theft.

[Anonymous No.7226870]

>>7225278

lumpy trumpy needs your money to maintain his golf course and fuel his private jet trips back and forth from it

[Anonymous No.7226957]

>>7225710
You'd still need to pay tax dummy.

[Anonymous No.7226969]

>>7225500
Can I just say I am glad this issue was resolved reasonably and peacefully

[Anonymous No.7226999]

>>7226458
wow, so blue pilled.
you are adding steps
localbitcions.com
you are allowed to bring a value back in with out declaring it

[Anonymous No.7227005]

>>7225278
>us government
10% in state tax,

nigger the US government and the state are different entities. Even europoor know this are you some fucking Alabama mountandew hillbilly?

[Anonymous No.7227027]

If you don't want to pay taxes go live in the middle of the woods you shitters
Don't want to pay taxes but use all the public services and utilities paid for by someone elses taxes

[Anonymous No.7227051]

>>7226848
You're an idiot. You only pay capital gains taxes on investments you've already sold.

[Anonymous No.7227062]

>>7227027
your so blue pilled

Please look up the Grace Commission. TL:DR the taxes that get collected only go to paying the interest, the INTEREST, nothing more. That is the interest only, the principal will never get paid off. So when a road gets built, your taxes are not paying for it, they just pay for interest on the loan to build the road. So stop saying you paid for the road, It is literally impossible. All ‘money’ is a promissory note, a instrument of debt. How can you pay a debt with a debt? Pro tip - You can’t.

Only a ‘person’ has to pay tax, definition of a person is a corporation, Blacks law. The entomology of person is persona meaning mask. Acts in the UK, the definitions section it sometimes says ‘a person includes a corporation’. The legal definition for ‘includes’ is ‘to exclude all others’. So if they say it ‘includes’ corporations & if they do not mention anything else its just corporations, thats it.

[Anonymous No.7227063]

>>7227027

Taxes and utilities are completely different thing you fucking troglodyte. The state doesn't do shit to help me.

[Anonymous No.7227104]

>>7225278
if you didnt think the government was gonna approach you then youre a dumbass

[Anonymous No.7227109]

>>7225537
Ha ha oh wow.

[Anonymous No.7227127]

>>7227063
The threat of punishment the state makes against anyone who would be inclined to murder you is keeping you alive, you troglodyte.

[Anonymous No.7227143]

>>7227127

Cops have no obligation to protect me. Try again retard

[Anonymous No.7227165]

>>7225465
They have far too much money to allow that. Your pocket change 7 figures is nothing to the 500 people that literally own America and Europe.

[Anonymous No.7227168]

>>7227127
>>7227062

[Anonymous No.7227170]

Gotta subsidize your own extinction, goy.

[Anonymous No.7227203]

>>7225465
>Perhaps we should go to the rich people who own businesses, doing nothing
They own those businesses by doing nothing? Dumbass.

[Anonymous No.7227314]

>>7225278
>tfw I made $60,000 in crypto in 2016
>never filed taxes
>last week I get all the money siphoned out of my bank account
>the government has a legal order to take $54,000 from me
How the fuck did they come up with $54,000?
>tfw I spent all the money and I'm broke now

Do I literally need to sue the government to make them lower the payment? I should owe any more than $10,000

[Anonymous No.7227344]

>>7227314
what country?

[Anonymous No.7227356]

>>7227344
USA

[Anonymous No.7227379]

>>7227314
your getting jewed

>>7227062

[Anonymous No.7227461]

>>7225278

fucking idiot why would u deserve a pass for getting lucky with internet ponzi money?

[Anonymous No.7227467]

>>7227062
>wahh wahh I have to eat food or else I starve to death!
>the world is so unfair!

[Anonymous No.7227505]

>>7227051
You moron, if coin goes up to 30k you at that amount to another coin, and the other coin crashes. You have to pay on supposed capital gains.

This the reason we're going to get raped. People here can't fucking think abstractly.

[Anonymous No.7227538]

>>7227467
most ppl think its immoral not to pay. i am just pointin out the reality

[Anonymous No.7227540]

>>7227051

Trading them for shitcoins at a gain is the same as selling dummy. If you only held BTC or ETH all year then you're good.

[Anonymous No.7227626]

>>7227062
So where does the money come from that builds the road? Oh, I know. From my taxes.
t. worked in budget committee for a major metropolitan area

[Anonymous No.7227639]

>>7227540
I thought /biz/ was all hodls.

Anyways, you get to report capital losses too, so you've at least got that going for you this year.

[Anonymous No.7227663]

>>7227314
also doing that in 1 lump sum, you where asking for it.

[Anonymous No.7227695]

>>7227639

Provided all your losses were in 2017, if you lost everything in the crash in January you are still subject to taxes from 2017 even if you crashed to 0. THAT'S why Decemberfags are fucked.

[Anonymous No.7227747]

>>7227626
did you read the Grace commission?

t. you don't know how bad it really is

[Anonymous No.7227819]

>>7227695
Sure, but you can keep declaring your losses over several years if you don't recover enough this year to be made whole.

Come late December, you're stupid if you don't convert to fiat currency at least the amount you'll need for your taxes that year.

[Anonymous No.7227853]

There is a lesson to be learned with these trades. You pay your tax based on every trade. If your gross gain is $200k you pay the tax on that amount. If you have half a brain you immediately put 40% of that gain into Fiat right into one of your bank accounts.

Save yourself from the hassle and do what you wish on the other money. Pretty simple people.

[Anonymous No.7227937]

>>7227853
Doing that for each trade is kind of pointless given that it's your net capital gains for the year that get taxed. Just do it in December before the year ends and you'd be fine.

[Anonymous No.7228268]

>>7227314
Fees and penalties you double nigger. Oh god you're gonna get raped so fucking hard. Take this. >>7225313
You're going to lose everything.

>>7225278
>10% in state tax,
Stop living in commiefornia then.

[Anonymous No.7228913]

fuck you irs posters, go suck a dick

[Anonymous No.7229059]

>>7227127
Yeah nah get fucked cunt. If that threat were not present, people would just subscribe to private security in order to serve the same purpose more efficiently. But since they have to pay for the shit anyway lots don't bother. If I threaten to kill you unless you pay 10x on a basket of goods I buy for you, you would rightfully complain, and my rebuttal of "but I bought all this shit for you" wouldn't be any kind of rebuttal at all.

[Anonymous No.7230282]

>>7227127
>The threat of punishment the state makes against anyone who would be inclined to murder you is keeping you alive, you troglodyte.

Lol, what a load of bullshit. If some cunt will really want you dead, no law will stop him. People who are ready ready to kill aren't deterred by 'muh rule of law' you brainlet, they don't give a shit about it.

>>7227027
>>7227027
>Don't want to pay taxes but use all the public services and utilities paid for by someone elses taxes

I already pay for utilities, tard. I also barely use any public services.
People like you would unironically defend a tax on breathing air and a tax of being alive.

[Anonymous No.7230307]

>>7225278
niggers always have to make that dumbass constipated gorilla face

[Anonymous No.7230324]

>>7225278
Aware me on paying taxes. I have to pay to the feds AND my state?

[Anonymous No.7230758]

>>7230324
yessir miscbro