/biz/ - Business & Finance

>>25441576
She deserves it more than you

I didn't read a word. Gonna go jack off in the shower lol sage

>>25441576
literally just move to a country that has "no double taxation" agreement with canada and spend enough time there to become a tax resident (generally 6 months) while simultenously not spending enough time in canada to stay a tax resident for the tax year. then you can sell or "reqacquire" your crypto at current prices and move back

>>25441576
Why don't you just live off of it via passive income? Isn't that your plan anyways?

>>25441576
>Do I just go talk to a Big 4 tax advisor and tell them I want to commit tax fraud?
find a tax guy who is cool

hire a cpa

>>25441607
I don't want retarded schemes that don't work.

I just want to know who to go talk to.

>>25441576
I wouldnt do this so definitely dont do this but i hear some poor as normies dont even do taxes like strippers. So what would it matter if they paid for your shit or not? Thats on them if they want to skip taxes

>>25441622

Most tax guys spend their entire lives filing T2s. I don't think they can help me.

Buy gold with BTC online, then sell the gold incrementally P2P or to pawn shops

>>25441643
you're retarded

>>25441654
Because someone is going to start poking around when 7 figures is deposited into my bank account.

>>25441576
pay your taxes you leaf cuck

>>25441678
I'm not talking about $2,000 here. Plus I want the money usable to purchase assets such as real estate.

>>25441701
Are you retarded or you didnt get what i said? Its not your account if you give a woman cash and she spends it from her account. Thats HER laundering. All im saying is i know poor women who absolutely wouldnt file a capital gains report on their stripper tips (hint: its all of them)

>>25441722
So Stacy can collect 2k a month while also making $400 an night under the table tax free on tips? Fuck that.

>>25441678
you’d probably lose more money selling gold to pawn shops then you would just taking out minimum amount you need to live, or splitting between multiple banks so you never go over tge the amount required for banks to report

>>25441576
Anon how did you manage to do this? Everytime i make a trade it just goes lower.. pls sir

>>25441727
>how do i buy a jewed system such as deeds anonymously with clean cash thats actually unclean?

offshores
google it nigger

>>25441754
I need to actually use this money to buy real estate. I'm not buying the real estate in princess sugars name. If I sell it under her identity and get cash I still have to clean 7 figures...

>>25441803
Go watch breaking bad for ideas then glowie

>>25441576
>>25441643
>>25441668
>>25441701
>>25441727
>>25441757
>>25441803
Those are men.

>>25441788
Probably with offshore accounts
>>25441796
^ that's what we are trying to figure out. Who actally has the knowledge to set it up and discuss the limitations with us.

>>25441576
never cash out! short btc with a margin and collect funding instead!

>>25441576

I am an ex Big 4 tax advisor,

Tax fraud, seriously? You think Big4's are going to risk their reputation for a measly 7 figure portfolio like yours? Lmao

Unless the Partner himself is a crook

>>25441850
Offshore lol you are retarded.

>>25441858
Then who is willing to do it. Also interning at KPMG doesn't make you a big 4 tax advisor.

>>25441924
You can't just scream offshore and magically have you money deposited in your bank account tax free you retard.

>>25441757
>400 a night

there might be two establishments in all of Canada that would happen

Ok bro let me tell you what i know. I know a very powerful jew who got too drunk and talked to me once. He said: he knows a guy in (lets say) florida who owns (lets say) a yacht who makes $40k a year.
Implications: 1. Normies dont explain to the irs where funds come from and would be willing to launder for you
OR
2. theres some complex LLC loophole where the wealthy person bought the helicopter through a series of hidden LLCs which then dont get questioned by the IRS.

big incel vibes ITT

>>25441858
CPA here.
This guy's right. No reputable accounting firm is going to piss away everything for your piss-ant accounting fee.

>>25441803
Careful, great reset may take away your real estate.

>>25441668
Corporate tax people can. And for you they're HNW tax people. There's a KPMG office in canuckland right?

The real question is...

Are there any books relating to this?

>>25442184
How much do I need before I can play at the high networth card. I would feel embarrassed walking in with say 5 mil.

>>25442243
Tax law isn't static, there probably isn't any books.

I thought Monero had something to do with this

>>25441576
Fuck my portfolio is barely six figures. I need another 10x to make it. I hope you die of aids.

>>25442243
if you live in an uncucked country
>>25441696
should work and is common practice in the eu. i don't know for canada specifically but afaik only US mandates taxes on citizens living abroad. even yanks can avoid cap gains tax, but they need to spend 10 years in puerto rico first kek

>>25442243
you do need to look up appreciation tax rules in your country thou

Does Maple Land have wild real estate tax breaks like the US? If so, I'd say withdraw, purchase real estate close to your gains amount or well above even, use your gains which are now physical leaf bux as collateral to secure the loan and write off your mortgage on your taxes. Even better if it's something that you can generate rent from.

Portugal has no capital gains tax.
Move there.

>>25441997
Why would you go from btc to real estate right now anyway when you could go: btc, renbtc, uniswap it for yfi, hold for 3 years

for starters you can sell XMR for cash in an envelope at local monero

>>25442575
Not selling right away but need to start planning. Not using some service with nigger tier interest rates.

>>25442582
Don't thouse cucks require id now?

>>25442461

In Canada we have replacement property rules for active businesses, so wouldn't work for rental building but would work for things like hotels.

Crypto to real estate wouldn't work. You would have to pay full taxes on the crypto at sale. Then you could buy whatever.

>>25442723
I'm a Canadian who just figured out my plan. basically a slow draw down leveraging your registered account limits. You'll still "pay tax" but it'll be at the lowest tax bracket over x years. Easier if you have a spouse or other unemployed dependents.

>>25442938
Got caught lacking

>>25442078
Then who is willing to do it. Wouldn't expect the fags at Big 4 to do anything useful anyways. Only thing thouse guys do is rip granny off by charging her $900 to file her T4s.

You could consider selling it on localcryptos or a website of that sort that doesn't require qyc and you can even charge a premium for it. As far as I know if you buy and sell on there the government can't really trace it back to you. Did you buy through a website that needed kyc?

>>25443121
You go sell a million dollars of crypto to some Quebecois dude in a tim horton's and let me know how you sleep at night.

>>25443121
Mined it way back when so the coins are as clean as can be. Problem is there is too much to cash out like that. Especially during a bubble.

>>25443184
Yeah hard to say. Will lurk incase anyone else provides a solution.

>>25443174
^^^

You definitely want to avoid taxes legally, so I see two options.

A) Find a loophole in Canada. Maybe theres something related to real estate or if you incorporate. Talk to every tax attorney you can find I guess.

B) Literally move to a crypto tax haven. There are a few, and it's not like you can just stay there a few nights and get the stamp. My quick research on Portugal was that it takes about a year to get the full approval. Countries do this to attract new investors, they're not stupid. But hey if you got 7 figures in Btc why not just try something new and live in Portugal for a few years?

Canadian Bitcoin ETFs will privately sell you units in the fund for your BTC that will handle the first 100k and if you have some family members you trust......

>>25441576
immensely based

>>25443568
Another big issue is we definitely want the capital deployed. It does no good sitting in a overseas bank account. Maybe it's better to just pay idk

Another big thing to consider is divorce. I'm a young guy and not married. I'm sure when the time comes I'll be head over heels for her and not thinking smart. So I need to prepare now. I'm thinking even if I sell legally most of it is going in my mom's name.

>>25443609
it's easier to just pay it but like I said before you can use your registered retirement accounts to earn tax credits back and many other ways if you're smart

>>25443697

Yes Beaux tax planning is important. I really didn't want to give the government millions for no good reason though. Guess I'll keep lurking.

>>25443609
I think if you stay there long enough you don't owe Justin anything, it's portuguese money and you're a resident.

But you'll have to research that properly.

>>25441593
She deserves nothing.

you fucked up by buying btc in a heavily taxed jurisdiction. You fucked up by buying BTC without opening a LLC and talking to a CPA, tax lawyer.

Here is a thread you might be interested in:
hint: magic circle firms
https://i.warosu.org/biz/thread/S25252580#p25252580

You know, there are times i wished this was a red board.
I think ima go jack off.

>>25441576
Did you KYC? If not, you can cash out without paying tax by hiding it into USDT.

>>25441576
just one question: how many PNKies do i need to get into that pinky

i have no advice I came looking here l4 the same thing but instead ama beat off now desu

>>25443982
He mined BTC.

Maybe this would be a shitty solution for you OP:

>Convert to Islam
>Marry a woman from Arab Gulf country where BTC is not illegal
>You are a resident/citizen now of a 0-tax country
>Withdraw all your BTC tax free
>And if you are worried about divorce, a woman in Islamic countries doesn't get anywhere near 50% of your income. The amount they get escapes me ATM, you can google it.

>>25444220
Can't you just pay someone 20 dollars and say she cheated and she has no defense and you can just dismember her and just leave.

>>25444220
you just killed off my bonner m8. who da fuck is going to risk getting beheaded by alkaeda to cash out some btc lolno

>>25441576
Plenty of face to face nerdy cash buyers retard, sell 100k at a time till it’s done

>>25444269
He is going to cash it out by selling it on an exchange like coinbase, then transfer the USD to his bank account.

>>25441727
kek, absolute idiot goodluck explaining your unexplained wealth you’ll lose it all and more in 5-10 years time when Uncle Sam gives you the dick, if you wanna live off the cash it’s ok, if you wanna cash out no tax to buy real estate etc goodluck

if i ever cash out how the fuck am i going to keep track of transactions. Like legitimately how fucked am i?

>>25441576
OP, DCA out 50% in stablecoins like USDC, DAI and even some PAXG.

(no Tether whatever happens)

Take your time to talk to tax attorneys. In the mean time when BTC dumps you can reenter your position, and maybe by the time you get to 8 figure you will know more

>>25444456
In Canada Crypto to Crypto is a taxable event right?

hmm, not OP, but how risky would it be having 6 figs in USDT? i plan on selling a lot of BTC soon, but only cashing out a little to actual USD - want to keep the rest in USDT. not sure if i want 6 figs worth of USDT just chilling on bittrex tho

I'm just a holder not a seller so forgive the stupid question. WTF do you guys use stable coins? Why not just sell for Canadian dollars?

You can cash out using localbitcoins.com p2p no kyc im bretty sure. Also go gift card route for as much as possible

>>25441576
absolute brainlet OP wants to cash out into boomer shit-tier real estate

>>25444635
>Keeping your funds in tether just before the black swan event
>Keeping your funds in tether at any time

Ngmi

Why don't you wait one more year until btc doubles in value? At that point, your taxes will be bigger, but at least what's left for you will be much bigger too

You could convert into xmr then cash out. Pay a small amount of taxes on what you claim you bought xmr at vs what you sold at.

Alternatively use something like celsius and take fiat loans against your BTC. No taxes this way.

>>25441576
>clean water
>good roads
>free healthcare

Pay your fucking taxes you little bitch. All of our taxes in burgerland go to bombing poor middle eastern countries. You don't even know how good you have it.

>>25445053
You guy realise planning is going to take months to figure out? It's not like I'm cashing out tommorow. Start planning now anons.

>>25443982
Thank you.

Best post here

Monero atomic swaps
Real estate
Accidentally lose your key
Get hacked

>>25445196
If it was 10% sure.

25% so Justin can give it away to roasties? Fuck no.

>>25444259

Wtf I love Islam now

>>25445391
It's more like 35% if you're worth 7 figures. I make 6 figures (salary) and about 30% is stolen via taxes.

>>25441576
>CADbux

Joke's on you, 22% of nothing is nothing.

>>25443982

I truly wonder if we actally managed to get the BTC liquidated in somewhere like Panama with the help of a magic circle firm what what would mean for purchasing Canadian assets with the funds after.

Right off the bat I see losing the active small business deduction as an major issue if the corporation is incorporated in Panama. Guess you could have an Canadian company that gets a loan from the Panama company and retain the Canadian small business deduction. But it starts to get convoluted real quick.

>>25444437
you trade on binance?

>>25445591
Capital gains are included at 50% so the effective rate is less. I'll have to throw it into tax cycle later to get the actual effective rate.

>>25443690
put your assets into a family trust in order to legally exclude them from your personal net worth so she can't steal it from you through divorce rape

I guess the way is really just spreading out the coins between your immediate family. Each member cashes out a share of the coins that you have them for "Christmas". But the saving using this strategy are minimal once your cashing 7 figures because of out shitty brackets.

>>25443569

What's her @?

>>25441803
You have an awful taste in transsexual men.

>>25441576
Canada's healthcare, social security, welfare, and immigration system is entirely dependent on people paying their taxes. Dont be a cunt, you made your money off crypto its not like you worked for it.

Don't see the point in not paying tax, its 20% on an investment that you probably 10x'd, what's the big deal to avoid that shitty tail risk and anxiety of getting all your assets seized.
So much effort for such little relative reward, and you then limit what you can potentially use your capital for in the future without more complex money laundering.
Legit seems like a bad investment.

>>25441576
Dude that picture is unironically as teasing as Bonded finance is

>>25443878
unironically just google offshores from a vpn and have a read around, theres sites out there that will set them up for you for a fee.

>>25444966
based 115-130

>>25446599
lol most retarded comment in here.

>talks about hating roasties
>posts a roast to attract attention
truly meta

>>25444635
use a stablecoin that actually has provable dollar backing instead of tether (like USDC), and move that shit to a wallet you own
far less risk for pretty much 2tx's of fees
tether is insane

>>25446949
also if you want to reduce speculative asset price risk but still believe in crypto, consider lending your stable stack with aave or something whilst you hold - you take on more risk in terms of believing in the aave protocol, but otherwise you're losing value every day to inflation

>>25446949
Why do people use stable coins? Why not just cash out to fiat?

>>25441576
Just put it in a hardware wallet, insure it and burn down your house.

Good thread. Always wondered what anons do when they make it in crypto. Wtf do you do lol.

>>25441643
Yes, going up to the taxman and telling him you’re looking to commit fraud is a far superior plan. A fucking leaf

>>25441576
i just reported you

>>25441576
Buy gold you absolute nugget.

>>25443982
>https://i.warosu.org/biz/thread/S25252580#p25252580

I'm the guy in that thread who wrote the long-ass essays on tax optimisation. AMA anything.

>cash out
But it's already in money (BTC), how do you cash out cash?

>>25441858

Anon. I wasn't an intern, I was an Assistant Manager..

>>25447906
>>25447906

>be me
>accumulate millions $$$ from trading BTC
>"IRS" gets interested, tell'em to fuck off
>accumulate billions from BTC & alts
>"IRS" threatening with confiscation and prison
>bitch please, they can't lay their hands on a single dime or satoshi
>me calling for truce just so they'll get off my ass
>tell them they can send me an invoice for roughly $500M, and promise to leave me alone

>haven't heard from them in 2 years
>mfw I've paid about 1% in tax on my cryptowealth

>>25443174
I like this post

>>25448632
Larp

>>25448632
bad larp

>>25448052
I’m a Canadian resident but I have duel citzenship for the EU, if I move to say Portugal for 6 months and cash out there what happens?

>>25446599
All of which is garbage tier service provided by good old boy J.T

>>25449453
Review the DTA between Canada and Portugal and what is considered to be residency. I'm not familiar with Canadian tax residency laws but if they are anything like some of the turbokiked laws in EU then you will have to not only have to physically relocate but also cut ties to Canada in terms of property and other economic interests. Your mileage may vary though.

Also look into if Canada levies any exit taxation on tax residency relocations.

But to be frank if you move to Portgual, acquire tax residency, and open a bank account with them registering your tax residency as Portuguese then you will likely not have any problems depending on the amounts. Look into the UAE as well.

In Germany if you hold crypto for a year you can cash out without paying taxes.

Based coomer thread

>>25449660
All this work to avoid 20% on 7 figures?

>>25449722
Seriously lets goooooo

>>25441643
Gross

>>25445196
You say that thing about bombing countries as if it's a bad thing.

>>25448632
2 years in IRS time is like 2 days to a normal human. You gon get raped, larper

>>25449974
Hey buddy, 20% of $9,999,999 is like $20mil okay

Leaf here. Dual citizenship to the EU. I refuse to give Justin anything. Need to cash out tax-free. How do I deposit money into my account without raising eyebrows? What's the best way for a leaf to cash out?

>>25443609
Taxes don't just help Stacy. They also help incels like me. Pay your taxes anon.

>>25450352
you can become a terrorist that kills canadian soldiers and the gov will you 10 mil tax free. i see no better option. you might need to get a tan and change your name though.

>>25449888
Wow. BRB moving to Germany.

>>25441576
Cash it out with a DeFi loan. You shouldn't need to tax loans and you also have the benefit that you never actually sold your Bitcoin, so if it runs to 1 million you're still rich

>>25450648
Germany also declared technological neutrality regarding crypto, so no intents of ever banning it

https://news.bitcoin.com/new-germany-law-embraces-all-electronic-and-blockchain-crypto-securities/

>>25442045
>>Reddit
Kike

>>25441576
use bucc to move it and cash out at atms and then get citizenship outside cuckistan and create an offshore company

>>25441576
>>25441643
>>25441668
>>25441701
>>25441727
>>25441757
>>25441803
>>25441850
>>25441974
>>25441997
>>25442258
>>25442283
>>25442723
>>25442773
>>25442975
>>25443120
>>25443184
>>25443569
>>25443609
>>25443690
>>25443878
>>25444597
>>25444797
Just donate it all to your favorite twitch thot you fucking sad sack of shit

Of course the coomer is a retard

I dont know about Canada but in my poor eu country it's legal to optimize your taxes in a way an entepreneur will pay the least. It's illegal to avoid taxation, hide incomes etc.

Try to find a tax advisor, maybe through mutual friends or family. Pay your taxes, just pay the lowest you have to.

>>25448052
What happens if you move to portugal then cash out straight away? Can you just stay there and never go back and be fine? They aren't going to send police after you right?

>>25441576
fuck off simp
die in a swamp

Holy shit OP is an insufferable retard

>>25443120
Dont sell and hold the coins to use as actual currency following the great reset. Every day more and more regulation is coming in. Monero just got fucking kneecapped. They're making it hard to cash out, so just roll with the punches and do your part to kill the fiat system. That'll leave them with two choices: either quit the fucked up tax games, or die. You have to be willing to hold like you've never held before at this point or else those terrorists win.

UK tax chad here, assume most of the same principles apply. Trusts and offshore structures my friend.

Just pay your taxes faggot there's much more than just muh benefits which tax money is being spent on and which YOU profit from you insufferable prick

>>25441576
Withdraw the money from a BTC ATM you retard

>>25454203
you have to pay tax on every trade though.
>own 1 btc $10k
>own 1 btc $100k, trade for ETH
>ETH goes down to $0
>Owe $100k 20% tax

>>25454135
How is being a tax accountant? Pay doesn't seem that high and the work looks boring. Got my degree few years ago but havent made the next step yet.

>>25441576
Open a bank account in the Bahamas and just move it all there off the exchange.

>>25452523
This

>>25441576
Basically two options:
1. sell directly to buyers for cash, and make sure neither of you report it
2. leaf (ha) the country and go cash out in, say, Portugal, preferably by selling it to a local who will turn around and cash out for a small commission

That way, your transaction is off the books and never has your name on it. Note, you have to keep the amount under US$10,000 (may differ in Canada, dunno) in order to avoid reporting requirements when you fly home (if you do).

>>25441727
>I want the money usable to purchase assets such as real estate.
Ah. Not gonna happen. Canada will wonder where you got that money if you spend it on something easily trackable like a house.

If you want to move somewhere foreign, you could probably get away with that. Buy a condo in Czechia or wherever. They probably won't try to track your funds down if it looks like you moved them in legitimately, or even if they do, they probably won't report you to Canada.

>>25441784
Don't be a fucking retarded pajeet dumping money in pajeet scamcoins.

>>25443184
That helps.

Another option, you could go to some tax haven like the Turks&Caicos, set up an account in a bank there, set up a "trust" business to own the account, cash out there through the business, and then buy the properties through your business.

You will have to pay a local to be your representative, but it supposedly doesn't cost all that much.

Then it all depends on whether Canada can force the banks there to crack open your company data.

>>25441576
Lol in Denmark (the country who democrats greatly admire in the states) we have to pay 42% tax on capital gains of above 5k

hopefully canada and the US will never turn to a socialist shithole like us

I'd fuken pay the 22% tax and live my life than trying to go through all the loopholes, sleepless night and headaches. it will come back to you eventually. I had 6 millions last bull run, didn't cash out because of tax at 35% in Australia. Ended up with 500k left. Big mistake. Could've owned a mansion, Audi R8 and live off interests.

>>25441576

Move to Germany, live 1 year here and enjoy taxfree capital gains.
1 year of hodling makes btc basically taxfree

Bump

>>25453382

>>25455746
sup Freund,

I also bought alot on dec and am hodling for dec 21.
But Ive read some shit sometime and a guy said: When doing taxes (under a year hodling, in germany)
you can say you don´t accept the tax on the gains (Einspruch einlegen) from cancer bafin, but still pay. You maybe get the taxes back in the future when they change laws!?

>Sry for bad genglish
>Sry for blockfagtext
>inb4 redfag
>inb4 newfag

Also am portugesefag but not rich enough to gtfo rn.

>>25441605
most based man alive

>>25456740
You take YOUR meds !