/biz/ - Business & Finance

>>20943264
Didn’t you hear? They’re defunding the police and replacing them with community organizers

>>20943264
the only people that get caught are the ones cheating millions of dollars

>>20943264
also helps when the state hates you and they figure out pestering you on taxes would actually cost them multiple millions cause they owe you grands.

like me for instance.. i am owed over 500,000 by gov, and 10,000+ by past employers.

>>20943370
The other way around.
The only people caught are the ones who tried to pocket a few hundred or a thousand because their kids get laughed at school for being poor.
If you swing millions around, you will likely have the accountant to to come out smelling of roses

Maximum is 5 years

>>20943264
Wait, do you get to keep your gains minus $10,000 or do you have to surrender them?

>>20943605
you'll owe taxes on the gains + $10,000 + 5 years in prison

>>20943484
Wesley Snipes would say hi but he was in jail.

>>20943264
How can the capital gains tax even be mitigated, I want to keep gains and only pay taxes when I take them out to fiat, but I guess exchanges report you to the IRS or something?

>>20943264
No capital gains if you earn less than 40k per year, look it up.

>>20944454
Thats only on short term less than 1 year capital gains i think.

>>20943419
You sound black.

>>20943769
God the fucking American legal system is so draconian
>Give us your shit or we'll throw you in the rape chamber
The Protocols of Zion weren't wrong when they said law was rule of force.

>>20943902
>Any trade you make is taxed.
>This includes swing trading
>Buying crypto with FIAT is not taxed.
That's all you need to know.

>>20944700
God I fucking hate the IRS, capital gains taxes on the middle class is proof they only exist to keep us goyim in check

>>20943264
The vast majority of people caught settle with the IRS long before they press charges.
With data mining and AI it will be increasingly hard to fraud.

By the way it's notorious that they are using social media to catch people, so avoid flexing there at all costs.

>live in commiefornia
>15% federal in addition to 13% state
>their tax board will also hunt you down if you move
bros....i might jump the golden gate...

You can also claim losses in crypto too for tax relief

>>20945336
>Gettin over 1/10 of your income taxed for illegals and so politicians can pocket the money and say to raise taxes some more
Literally no reason to stay there

>>20945336

If you're high-income enough to pay the top tax rates in California you've probably already won at life anyway tbqh

>>20943264
If I make it I will be moving out and denouncing my US citizenship and not coming back to this shithole.

Anyone have any experience with eastern European tax? I heard they don't give a shit.

>>20943419
Does 'reparations' fall into that 500k u smelly negro

>>20943796
Panama papers were hard evidence of widespread financial fraud amongst the elite. Just take the Emma Watson example where her legal team just waved it off and nothing happened. Nobody goes through the trouble of having an offshore company just to buy a house baka

>>20944700
If I were to swing trade a small amount, and make under 1,000 capital gains in a year, would I have to pay taxes on it? If that amount then ballooned the next year and I made a million, would I then pay taxes on the previous years trades? You only pay taxes once a year, and if your gains are negligible one year, how would that affect the next year?

Planning on being a good citizen and paying all my taxes, already calculated that I need to reel in 1.55mil€ to still have a million after taxes, sucks but that's how our government keeps alive.

>>20947558
>that's how our government keeps alive.
Kys normalfag

>>20947719
I'll let you have your "taxation is theft" act while I keep living comfy here.

>>20948042
>Finland is full of NPCs
Okay I could've told you that

>>20943769
It's some real bullshit that the maximum is 10,000, for the average person that's a lot of money, but for a millionaire it's nothing. They should start giving out fines based on a percentage of ones average income.

>>20948138

>>20948168
i bet you were the kid who asked the teacher at the end of class about turning in the homework

>>20948200
Don't feel bad, most of the world is like that

>>20947318
afaik short term capital gains tax does not apply for first 10k and long term does not apply for 40k. Not sure if this applies if you have other income, I think so but you should double check these numbers and everything else I’m saying because it’s been awhile since I read the tax code. Each tax year begins on new year’s day. You aren’t taxed until you sell or trade so you won’t owe taxes on that cool million until you actually sell it. You are taxed on realized profit (the usd value at the time or sale minus usd value at the time of the buy). You can write off crypto losses

>>20948042
imagine being so cucked you do not mind paying 30%+ in taxes

fucking lol

dumma jävla finska horunge

>>20948336
30% from 1-30k€ and 34% upwards from that, feels good man.

Ime sykkivää svedupelle :D

>>20948387
people like you literally gross me out