/biz/ - Business & Finance

[Anonymous No.9140009]

What should I do when I cash out next December with 2MM dollars after taxes, thanks to long term capital gains rate?

Do you day trading faggots understand that even if you strike it big with your shit coins, you will be paying over 50% tax in the states, and more in other countries? (unless you live in a shithole nation)

[Anonymous No.9140024]

I pay 27% if I hold under a year. Over 1 year = tax free. First world country.

[Anonymous No.9140035]

>>9140009
>DBC
LOL

[Anonymous No.9140041]

Sell dbc and tron buy Vechain you retard why would you hold such shit

[Anonymous No.9140052]

>doesn't understand tax

[Anonymous No.9140070]

Pretty much all in DBC. Eventually LINK will bail you out from your folly.

[Anonymous No.9140112]

>>9140009
>unless you live in a shithole nation
I live in bongland and I can pull out 11k bongs per year tax free. After that it's 10% for plebs like me. Pretty comfy when your internet meme money pay your rent meme and your food meme.

[Anonymous No.9140121]

>>9140024
I doubt it, you probably live in poland or some shithole.

>>9140035
clearly you hate money

>>9140041
Vechain will never see mass adoption. Companies will create their own supply verification blockchains if it ever came to that.

[Anonymous No.9140142]

>>9140112
>bongland

It's because you don't make more than 40k. UK has insane taxes.

[Anonymous No.9140561]

>>9140121
>I can't google

[Anonymous No.9140676]

>>9140561
nice selfie, what kind of camera did you use?

[Anonymous No.9140754]

>I should avoid making money because I have to pay taxes on it
nice slave mentality there

[Anonymous No.9141254]

>>9140754
nice math there faggot.

I'd have to make sure that my EOY day trading earnings out performed holding by more than 30%.

[Anonymous No.9141259]

>>9140676
You are the super-retard here or what?

[Anonymous No.9141282]

>>9140009
100% with ya buddy

the day trading ta memers are probably too pleb to get in trouble for evasion and don’t pay regardless

it’s ok newbs the big guys will pay to keep your ebt tendy game proper

[Anonymous No.9141434]

>>9141259
Yes, I'M the super retard, apparently.

>>9141282
Yes, we've placed our bets. We're gonna be millionaires post tax which is what all these fags are forgetting.

[Anonymous No.9141466]

how do you cash out altcoins for longterm cap gains? Don't you have to trade for like BTC or ETH for fiat pairings?

[Anonymous No.9141539]

Oh look!! It's that milionaire again! Sup bud! Remember me? I'm the one who said you were larper when you had $1mil back in Jan.

Dude let's fucking connect. We keep running into each other. And you're rich and I want your money so let's connect dude!

[Anonymous No.9141564]

Short term capital gains tax is 25%, retard

[Anonymous No.9141576]

>>9141466
Yes, you won't be paying taxes when you sell the BTC for fiat.

For example: I bought my AE last April during the ICO, which means that if I sell it for BTC now, I will pay long term capital gains on the AE. Yes, I have to sell to BTC first, but that taxable event won't have any taxes associated with it, since I'm immediately selling into fiat. I have to ask my accountant when the date is (ICO or when I actually received my coins months later), but I'm pretty sure it's when you PAY is when the capital gains clock starts.

[Anonymous No.9141607]

>>9141539
you'll literally never be rich, ever. I'm laughing at you.

>>9141564
Short term capital gains is dependent on income, and it can go higher than 50%. Long term is between 0-20% depending on income. This was to encourage long tern investing over what we're doing right now.

[Anonymous No.9141961]

>>9140009
You are going to get JUSTed super hard op. You need to move at least 50% of that into btc/xmr/eth. I may even cap this because you are hodling a serious shitfolio.

[Anonymous No.9142017]

>>9140009
>Do you day trading faggots understand

it. doesn't. fucking. matter. if. you. make. 1. trade. in. a. year. or. 100,000. you. pay. after. final. p/l

if you actually hold for more than a year, then yeah, but then you're guaranteed to lose more by not trading AT ALL. shit changes too much in a year in the crypto world. you miss out on much more than 50% if you just hodl ESPECIALLY the kind of shitcoins you're holding.
MAYBE you can get away with holding BTC for a year with some luck, and MAYBE-MAYBE-MAYBE ETH with some insane high luck, but any other coin is not considerable at all for a solid 1 year hold. too much uncertainity.

[Anonymous No.9142029]

What a shit portfolio

[Anonymous No.9142123]

>>9141961
>>9142017
I disagree. The era of shit coin trading, pumping and dumping, etc. is over.

We're entering the phase of infrastructure building, where the major players have been established. Dude, have you been to China? My friend lives there now and married a Chinese woman, and I spent 5 weeks traveling all over last Oct/Nov. Dude, buy Tron, I'm not even kidding. They are primed and ready to explode over there.

Crypto won't take over every day transactions, that's just fucking stupid and the powers that be won't allow it. But what crypt CAN do is be a alternate payment system for all kinds of apps, leisure activities (renting bikes, etc). Tron will take over all that shit in Asia, it will be used as currency in apps, for renting bikes via obike and other services, and all this other crap. People laugh when I talk about Tron because Justin Sun looks like a gay asian Justin Timberlake, but he is the real deal.

Same with DBC, they're already operating out of palo alto.

Buy coins that ARE REAL, that have REAL BUSINESSES behind them.

People won't make more this year day trading than holding, unless you time market crashes perfectly

[Anonymous No.9142130]

>>9142017
I'm holding link, neo, omg, sky & req all for a year in November. after that I can cash out tax free cause Germany. yes you're right there's a big risk of missing out on moon missions left right and centre, but all with link in particular, the risk is worth it cause anything over 10 in a years time & I've made it, & the feeling of being able to legit cash out that amount tax free is worth the risk

[Anonymous No.9142145]

>>9142017
>it. doesn't. fucking. matter. if. you. make. 1. trade. in. a. year. or. 100,000. you. pay. after. final. p/l

Yes it does. If you make a million dollars day trading 10,000 times a day, or make a million dollars holding Tron, at the end of the year you pay 51% tax if you day traded, or 20% if you held Tron.

In one Scenario you have $490,000 USD, in the other you have $800,000 USD, post tax. Big difference.

[Anonymous No.9142200]

>>9142123
you haven't been burnt by betting on wrong technology seriously yet. you're far too certain in what you believe.
you WILL be burnt sooner or later. not saying tron or dbc can't succeed, i actually hold some trx, but the actual odds are SO low for both... there's no way both of them will.

[Anonymous No.9142222]

>>9142130
but you don't need to pay taxes this year? only after you cash out? then only hold a smaller fraction of your portfolio and you can trade freely with the rest, unless you plan to cash out everything next year, which from your comment, you clearly aren't you can hold once you have a high enough networth, no?

[Anonymous No.9142241]

>>9142145
you have to buy that tron. you won't be holding it for a year at dec31 this year, so you pay the 51% tax, aye?
next year you only pay 20% (if you made 0 trades).

hence it doesn't matter if you make 1 or 100k. it matters if you make 0 or 1.

[Anonymous No.9142267]

>>9142241
btw 51%? really? highest personal income tax in US is like 37%, no? and that's for 500k+. where is that 51% written

[Anonymous No.9142347]

>>9142241
That's what I meant. You're right, it's 0 trades for one year if you want long term capital gains.

>>9142267
There's federal and state taxes, the highest the combined goes is 51%

[Anonymous No.9142350]

>>9142222
no when i cashout ill have to pay tax on the trades prior to holding for a year, if there was a profit made. but i have to hold each coin for 12 months -no trading- for any profit on sales after to be tax free

[Anonymous No.9142517]

>>9140754
Well it does screw one over on dah guberment

[Anonymous No.9143209]

>>9142130
you don't cash out tax free in germany.

[Anonymous No.9143225]

>>9140009
ban this idiot

[Anonymous No.9143446]

>>9143209
https://boerse.ard.de/anlageformen/kryptowaehrungen/so-wird-der-bitcoin-besteuert100.html#Wann-sind-Bitcoins-steuerfrei

[Anonymous No.9143863]

>>9143225
why are you so hostile towards me? I am but a humble shepard, leading you to the promised land