/biz/ - Business & Finance

>>10825522
>cashing out in the US
you absolute mong

also nice larp

That's some heavy tax.

>>10825536

I don't live in the USA, please tell me that they have the biggest tax system because 1/3 it's ridiculous .

>>10825522
>gets rich sitting on a speculative investment
>doesn't want to invest in the social good
>calls others kikes

>>10825522
cant you just put it all in monero and then transfer it somewhere, and then cash out? i thought monero was private and untraceable

>>10825554
1/3 is not ridiculous for California, its the norm.

Buy gold bars with BTC

Sell that somewhere

>>10825564
How? Even if I do that, doesnt that mean that I have to open a bank account in some other country or state which they could easily track back to me?

I thought about doing this but I'm pretty sure the Singapore bank would be suspicious if some foreigner deposits all this money into an account

>>10825559
The last thing I want to do is give my money to the same dumb niggers that laughed me in high school in the form of gibsmedats.

>>10825564
it doesn't matter because the whole picture is not untraceable, the FIAT in, FIAT out, is traceable, 'putting it all in monero' or fucking anything else does nothing.

>>10825574
but he would only have a lifetime of gas and cigarettes. What if he wants to buy a home or a business.

>>10825609
Actually worth noting that what putting it in monero does is indicate a clear, albeit retarded, attempt at evasion. When they follow the trail back from the lambo to singapore bank to exchange and hit monero the long dick tax official will be called in to manage the ass fuck.

>>10825610
>refuses to support the folk, because some of them might be goyin

could have just tethered up and wait the one year then cash out

Are swiss banks still great for privacy? What if I open up an account and put the money there?

Please don't tell me I actually have to pay like a filthy goy...

>>10825559
Thats right goy! How else are we supposed to fund inner city welfare or righteous Middle Eastern wars? OYYYYYYYYYYYYY veeyyy

>>10825717
You need to go to cayman, bvi or belize these days

and these places require jewish accountants to let you in

sorry

>>10825522
Taxation without representation is THEFT!.

Just tether-up, buy a toyota landcruiser, travel the world. Governments have mismanaged taxed money for too long and they keep asking for more.

I am tired of funding their pet projects. giving themselves raises while they use tax dollars to buy votes.

Godspeed anon.

>make your passport
>cash out some money
>go to Germany or any non-american tax heaven
>talk to a lawyer and get a permit to live in the country
>cash out paying as little tax as possible (Germany has ZERO tax policy when it comes to profit on Crypto)
>???
Profit

>>10825522
If you’re in the US, just pay what you owe then use the remaining funds to leave the country. You’ll regret everything if you didn’t pay and they bitch-slap you with a lawsuit (Al Capone lost to the taxman fyi)

>>10825610
That's why i want to help you
BETA UPRISE NOW!!!

Try looking at Germany or Jersey (country in UK) or Malta or Maldova

t. Brazilian who will soon make it

>>10825833
>just give them your lunch money so they won't punch you in the stomach
FUCK THEM! DEATH TO ALL BULLIES!

OP, if you don't want to leave the US, look for some really good lawyer and they will help you to pay as little tax as possible

>>10825748
>OYYYYYYYYYYYYY veeyyy
Easy there Schmul.

Are you American? Consider moving to Puerto Rico or another U.S. territory for a while. The capital gains tax is often less than 4% if you become a resident.

One more thing OP

Try and get in touch with Robert Kiyosaki, he is available to anyone who give him a few bucks for an interview, he can and will help you to legally evade taxes, i have an illegal friend in the US who got helped by Kiyosaki, the money he will charge you won't be 1/5 of what the gov wants from you. Give it a shot.

Next year i'll visit some friends in the US, we might take a drink together and celebrate our first million

>>10825823
Slovenia is shadier and easier and they don't have sand niggers

>>10825918
Well remembered.

>>10825717
US citizen?
Maybe move to Switzerland, maybe invest into something where there's no big tax and slowly get your money that way.
I might be willing to set something up if everything's legal and proper.
By the way in Switzerland you pay no tax on investing stocks/trading/crypto if you hodl it longer than 6 months and cash out after that (if not deemed professional).

>>10825559
>Social good
>Give money to DeQuanda and her clutch

>>10825522
>cashing out
jew meme
vote with your money, anon. you are under no obligation to participate in jewish tontine schemes.
their system is failing. ignore it and participate in systems with which you agree.

>>10825559
Fuck off to Venezuela.

>>10825559
>social good

>>10825587
i think those slants would offer a massage and BJ if you did that

>>10825559

>social good

you are probably being ironic but there are people who legitimately believe that handing over your money to kikes so they decide what to do with it for "social good" is okay

>>10825704
This. Don't be stupid OP

>>10825559

What the fuck is the "social good" - fucking National Communists, get the fuck in the fucking sea. Go move back to Germany and practice your socialism there.

>>10825823
burgers pay kike tax no matter what country they live in

>>10825914
t. robert kiyosaki

>>10825823
>>10825855
>>10825874
>>10825914
>>10825927

Absolutely based. Thank you for your insight fren, I'll take a look at getting a work permit in germany/slovenia

>>10826293
these "slants" also talk to the SEC and IRS

>>10825522
Is this long term or short term capital gains?

>>10825559
>write off some taxes for donations to charities
b-but they're all corrupt
>make a charity
>low administration costs
>funds go directly to people without bribing officials (or minimizing it)
>if your sketchy, use charity to push agenda and diplomatic ties (will bloat "administration costs")
>if you're on the level, promote blockchain by proving funds went to places to reduce corruption and prove administration budget is spent wisely
Minimize those funds that go to the welfare state and minimize your sheckelburg affiliation on the side. Win-win.

>>10825587
HSBC in Hong Kong doesn't give a fuck. Go in there and setup account then deposit. Simple -_- USA gov will days chase you over that one though good luck

OBVIOUS JEW SHILL THREAD

ENJOY IT SCHLOMO, YOU HABE NO POWER HERE

they know their usury system is collapsing. the future belongs to us

>>10826535
fuck you jew. there are no capital gains on crypto

>>10825522
>register llc
>loan your company your money
>post pics of yourself partying on your yacht
>claim its some lifestyle shit or you're a brand ambassador

>>10825782
>implying that taxation with """representation""" isn't theft
Fucking statist

>>10826570
kek

>>10825823
>germany
>non tax heaven

are you kind of retarded or what?
germany is one of the highest tax country

>>10827072
He is talking about crypto, brainlet

>>10825554
norway its upward from 40-60 % if you earn alot

>>10825522

One of our slaves is leaving the plantation.

Increase taxes, increase inflation. Grind this motherfucker to dust. Teach the slaves that hope is useless and even 'making it' is giving me more money.

>>10825823
>>10826518
>>10825855

Have fun paying close up to 50% income tax. Crypto gets taxed trade to trade even if you did not cash out and just traded different coins.

It Is only tax free if you can prove that you held one coin over a year

>>10825823
>germany
>tax haven
imagine being this retarded

>>10825918
shhhh fag, I dont want bunch of niggers coming here

>>10827114
Plenty of help from the gvt. though, y'all fine fuck off, your safety net is big

Why not live a fully crypto life? I can't imagine how the government could possibly tax you if you just buy everything with crypto currency.

>"Look IRS, I have no money in my Wells Fargo bank account!"
then you can go make deals with people where you give them some amount of coin for a house and you use one of the many websites that accept crypto for grocery store gift cards so you can still go out and buy food normally

I don't know. That just sounds like a fantasy scenario to me, something I would like to do if I were well off.

>>10827536
>own 0 houses (important)
>Buy house, any house with crypto where seller accepts
>sell house for USD after doing a change of address for yourself to the homes address.
>profits from selling primary homestead not taxed by IRS

>>10827556
damn. that sounds smart.

Is this entire post sattire? There is no fucking way this board has as many members claiming to have 10k+ in USD of crypto, also has no fucking idea nor has done any research on taxes.

IN USA...

Crypto is considered capital asset, just like art. Your initial cost basis is the original purchase price at the time it came under your control. Any movement at all, to tether or any other coin, is actualization of profit or loss and you must pay capital gains on any gains made, which can be offset with capital losses as well. Standard accounting is first in first out, when determining how long you held a coin. At short term capital gains, which is anything under a year, your gains tax on any actualization event is identical to your applicable income tax bracket with said gains figured in for bracket placement. Making it money, i.e 6 figures, will cap you out at 40%. Holding for at least one year will cut your tax burden in half. Again, like-kind exchange laws only apply to real estate per specifity added in tax code as of 2018. Max long term capital gains is capped at 20%. Additionally if you mine, your initial aquisition of said crypto is taxed as income.

Learn the tax code. Realize that the Jews biggest enemy IS taxes. Learning how to minimize, not avoid, tax burden is one pivotal tool of the rich and is taught as it's own complete course in high end private primary schools (the rich).

Trying to figure this out once you've "made it" is like trying to figure out what to do with a tiger now that you've caught it by the tail. If you genuinely have 2k or more USD in crypto, you should already have your own plan/records for how to deal with this.

Additionally, while cashing out directly into gold can work, bullion dealers are required by federal law to report large transactions made in bullion/bar. Buy coins, and do your research as to what forms of gold are harder to counterfeit, as well as what forms have mandatory govt reporting.

*Sip*

Also fuck no, you can't have a house just appear in your name and sell for reduced taxes and poof, thousands of dollars in your bank account without IRS backtracking where it came from. In the end, the men with the guns want their money and it is far easier to utilize tax minimization strategies over tax evasion. Even if you move to a different country, simply having your citizenship while you made said gains means you're due taxes even if out of country. And guess what? They're total bitches who can and will fuck you and your life all to hell in any continent you prefer. All government, every branch, office and luncheon is paid for with tax money. Without it there is no funding for the machine. The govt is by and large a bloated welfare recipient and it's total fucking bullshit but don't delude yourself into thinking you can just extend your middle finger in an act of defiance and not get fucked worse than a Kardashian who stumbled drunk into the locker room. Taxes are their only lifeline and govts protect and enforce that with pretty scary amounts of dedication

I heard in Russia you only pay 13%

>>10827594
I genuinely dont know where to learn the ins and outs of taxes.

Lets say you wanted to cash out 1 mil, whats the first thing you'd do?

In mother russia, crypto taxes YOU.

I would research what forms of proof are acceptable by the IRS to show your initial aquisition and do your best to faithfully recreate a proper acceptable ledger, just like a bookie. I would do whatever I can to prove where I have held something for 1+ year as it is the difference between taking home 600k and 800k out of a mil. Google is your friend and there is the entire tax code separated into sections and it may take a bit of coffee and time to digest the section applicable to you, but it is well worth it. But most importantly? Start by investing a bit of money in finding a good tax accountant who is familiar with crypto and also a financial adviser. How you handle your riches is more important to still being rich years down the road than the event of actually making it. There is a reason so many lotto ticket trailer house people end bankrupt back in a trailer house within 10 yrs. Most of society does not have an income problem, but rather a money management problem

>>10827556
You also may need to register as a squatter if you ever hope to take legal posession of the house, because that's the only way you might avoid having to convert your coins to fiat to pay the property and sales taxes required to make it official. Or just wait for the seller to realize he can evict you and get a free house.

put it all in tether and cash out 13,999$ a year
to pay your rent

and then use crypto to buy all your other stuff you need

>>10825522
Nice, more gibs for me! Keep working so I can get more NEETbux

Here's what I am thinking. Make an LLC which will be a couple hundred USD. Claim the crypto as related to my personal investment LLC. Under Trunpa plan, companies only pay 25% at most so there's at least a good amount avoided.

>>10825522
transfer to safex and then don't cash out. just buy the shit you need.

>>10829334
>safex
>that cursor on the website
is this 1999?

>>10825522

You brainlet. Put it into Monero, memorise your wallet details, go to Portugal or Malta on holiday, cash out there and shut the fuck up about it.

>>10825657
You can buy homes with bitcoin nowadays. Sure choice might be limited, but that's probably a decent way to cash out into a real world asset.

>>10825522
In Norway it is 36% because the jews want us to fork over as much as possible to negroes and arabs.

>>10827529
If you are a white man, then no. No help.

>>10825522
I know you’re larping, but unironically move to Canada if you are cashing out capital gains. Cap gains tax is 10% and only applies to 50% of gains. Don’t listen to “Fuck Trudeau!!!1!” Posters. You don’t need to like him, and honestly I’m not a fan, but people who post this kinda stuff don’t understand how stable Canada is, and how little a single gov can actually change things in one or two terms. Being on the the far right or far left fringe politically in Canada is a surefire way to out yourself as a moron.

>>10825559
>Social good
>Roughly 14 minutes of killing sand people
>Roughly half of a pace maker for an 82 y/o homeless man

>>10825522
Pay what you owe and get over it, if you start evading without the means to back you uo you will put yourself in hell and end up paying all of it.

Considering you live in a country where your wealth goes into the welfare of society better feel happy.

In my country I actually get robbed by corrupt deputies and bankers.

>>10825522
How do I make it like you?

>>10827114
Just be a neet and only pay fortune tax then.
Crypto is max 24% also.

For those ameriburgers out there: you can put your Roth IRA into crypto. I know that doesn't help on already actualized cap gains, but consider it an option for today. I'm also looking into a way to weasel my 401k money into crypto while still wageslaving through self-directed brokerage

>>10825823
lol i think you meant the netherlands

>>10825855
How and where are you going to check out fellow Anão?

>>10825568
which is why california is a shithole

>>10825903
This. Google Act 20 and Act 22