/biz/ - Business & Finance

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Conveyancing Anonymous Sat Jul 27 00:17:36 2019 No.14991370 [Reply] [Original]

You do know that to cash out you have to provide documents to prove that the funds used to buy your cryptocoins in the first place came from a legit source, right???

That's right, you have to provide documents to prove the SOURCE OF YOUR FUNDS!!!

Here's some good info:
https://intercom.help/sharesies/en/articles/912321-proving-source-of-funds-and-source-of-wealth

That means that the following anons will have a hard time cashing out:
-People paid under the table (waiters, male escorts, etc).
-Drug dealers
-Illegal gamblers
-similar activities

The point is, if you invested undeclared and/or illegal income to purchase crypto, it'll be extremely hard to cash out.

Oh yeah, and this is a worldwide law, so not only americans are affected by it.

What's your plan anons? Oh anons, you do have a plan, right?????...

>>	Anonymous Sat Jul 27 00:19:47 2019 No.14991388 File: 413 KB, 713x506, reserve42.png [View same] [iqdb] [saucenao] [google] >>14991370 I will cash out my LINK (at $1000) for RSV over the Ren network and pay for whatever I need from my Reserve app.

>>	Anonymous Sat Jul 27 00:19:54 2019 No.14991391 >>14991370 Nah

>>	Anonymous Sat Jul 27 00:22:52 2019 No.14991416 >>14991370 What do you mean? I wage and buy link which aren't for sale anyways.

Anonymous Sat Jul 27 00:23:23 2019 No.14991419

>>14991388
Literally, you can't. If you can't prove where the funds to purchase your crypto came from, the bank won't accept your deposit at best, or the government will seize it after you deposit it due to money laundering laws until you prove where you got the funds.

Fun stuff huh?

>>14991391
Yes lady, it's the law.

>>	Anonymous Sat Jul 27 00:25:37 2019 No.14991436 >>14991419 Can you read? my LINK gains will literally never touch a fucking bank. you may be an accountant or whatever, but you are clearly new here

>>	Anonymous Sat Jul 27 00:26:22 2019 No.14991447 >>14991370 Bootlicking nocoiner

>>	Anonymous Sat Jul 27 00:29:01 2019 No.14991470 >>14991370 All my funds came from a legit source, and I can prove it through check stubs. Sucks to be people on the fringes of society, I guess.

Anonymous Sat Jul 27 00:30:38 2019 No.14991481

>>14991436
As soon as you purchase anything, ANYTHING, even if you don't go through fiat first, capital gains tax laws come into play.

The company you purchase the items from will file taxes for the year and you'll come up in that detailed list. That is, if the company is operating legally, if it isn't, you'll just get into further trouble since that's technically tax evasion (not tax avoidance, it's a very important distinction). Hope this helps you massive faggot!

>>	Anonymous Sat Jul 27 00:32:51 2019 No.14991500 >>14991447 How am I a bootlicker, you retard? I'm just literally telling you to be careful if you bought your coins with undeclared/ illegal income. Your income is legal rigggggghhtt anon??? You niggers never learn.

>>	Anonymous Sat Jul 27 00:49:44 2019 No.14991621 >>14991500 >blah blah blah Stay mad bitch

>>	Anonymous Sat Jul 27 00:51:39 2019 No.14991631 >>14991500 sneed

>>	Anonymous Sat Jul 27 00:55:59 2019 No.14991663 >>14991500 there is something known as private ruling, you won't be maximising your tax but you it still a legit way of cash out. People hold legitimate cash, those amount isnt illegal.

>>	Anonymous Sat Jul 27 00:56:27 2019 No.14991670 >>14991621 Getting nervous? Do whatever you want, you retards will never learn anyways.

>>	Anonymous Sat Jul 27 00:58:31 2019 No.14991681 >>14991670 >bitchy nocoiner mad his scheme isn’t working on anyone Stay poor

>>	Anonymous Sat Jul 27 00:58:54 2019 No.14991683 >>14991663 Huh

Anonymous Sat Jul 27 01:03:54 2019 No.14991712

>>14991663
Interesting. Private rulings might help people working non illegal under the table jobs (waiters, mowing lawns, and such) that used undeclared money (income never taxed) to cash out. However, the tax penalties could be much greater than what you made in profit, be careful with these situations.

As for people that invested money from illegal activities (drug dealers, phone scammers) there's no private ruling in the world that will help you. The tax authorities will keep the profit + penalties + put your ass in prison.

>>14991681
You're welcome.

>>	Anonymous Sat Jul 27 02:43:31 2019 No.14992395 File: 1.40 MB, 320x198, 1562549731265.gif [View same] [iqdb] [saucenao] [google] No Neo, what I'm telling you is, when you're ready, you won't have to.

Anonymous Sat Jul 27 02:47:45 2019 No.14992428
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>>14991663
Don't post serious replies to this thread you fucking idiot

It's clearly a thinly veiled CIA glow in the dark trying to get people to go "NUH UHHHH YOU CAN CASH OUT x, y, z WAYS".

They're using this to plug any ways they haven't figured out yet. OP is literally a glower

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