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26418715 No.26418715 [Reply] [Original]

Not as bad as I thought, but god damn I fucking hate the IRS. I only started but made more money than I expected to.
Would it be a bad idea to cash out some profits to pay the taxes? I still have my UNI gibs, that would help out a ton. I still have to pay taxes for my independent contractor work but I think I’ll be able to write off most of it.

>> No.26418740

>>26418715
*only started last summer
Fuck

>> No.26418822

>>26418715
you started less than a year ago and you're already paying taxes?? you are seriously never going to make it

>> No.26419153

>>26418822
I knew I would get replies like this but I really don't want to have to sweat it as time goes on. It's a lot easier to stay on top of now than in a year or two when I have even more transactions and money.
I went from like $2k to making more than my salary. I don't want to get butt fucked by the IRS dude

>> No.26419263

>>26418715
>I decided to fund nigger gibs...

>> No.26419448

>>26419263
topkek

>>26419153
they dont give a fuck unless you're doing 5-6 figure txs every day

>> No.26419633

if it's under 40k just sit

>> No.26420312

>>26419448
snorting up all your gains in back taxes is a rudimentary goyim enslavement tactic, careful pal

>> No.26420400

>>26418715
Is this normies? Who does their taxes 21 days late with zero clue they owe a lot of money? I mean mine arent done but i have a pretty good caliber on them

>> No.26420452

Which European country is a good place to be in crypto? I'm assuming Sweden is decent because ivancrypto still lives there even after being 7+ figs

>> No.26420540

>>26420452
Portugal has a 0% crypto tax.
No EU countries make you pay taxes for crypto to crypto tranding, imagine being a burger.

>> No.26420678

>>26420540
I think most EU countries do except slavic/3rd world places

>> No.26420996

>>26420678
Nope. US is the exception. Why do you think stablecoins have such a high marketcap? they wouldn't exist if you were right.

>> No.26421022

>>26420678
most eu countries income tax it rather than capital gains

>> No.26421090
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26421090

>>26418822
>>26419263
>>26419448
>>26419633
>>26420312
>>26420400
Oi vey! Let the good man pay his taxes! What an upstanding citizen, truly remarkable and admirable!

>> No.26421627

>>26418715
similar spot. yea, short term cap gains hurts. it also sucks if your exchange can't generate PnL statements. sell your UNI.

>> No.26422149

>>26421627
So only good for shit bought on dexes?

>> No.26422184

>>26422149
Cexes*

>> No.26422457

>>26422184
if you're a active trader, dexes are not the place to be. not enough liquidity, not enough viable pairs, not enough assurance. if you're a bag holder, go nuts.

>> No.26422507

>>26422457
Yeah im a bag holder. But if I want to cash out one day aren't I fucked if its 10k+?

>> No.26422551

>tfw want to swing but am too poor to cover the taxes

>> No.26422612

>>26420452
I would assume anywhere that doesn't have capital gains taxes like switzerland, belgium, andorra, cyprus

>> No.26422683

>>26420540
What? Are you sure? What about Germany?
I've always thought crypto-to-crypto creates a taxable event, because this place is run over by burgers and that's all they say

>> No.26422688

>>26422507
what are you asking exactly. if you're a bag holder, you just hold until your linkies net you 5m. then dripfeed your lifestyle with localbitcoin sales.

>> No.26422738

can i just clean my trades through a privacy coin?

buy coins > trade > xfer to private > new wallet. trade trade trade all I want?

>> No.26422886

I have no damn clue about the laws because i don't plan to cash out yet.

>> No.26423570

>>26419448
>>26419633
>buy 2-4ETH from kyc exchange
>transfer back 100ETH & cash out
You don’t think this would catch attention? No one would ask how that money multiplied?
>>26422886
Crypto to crypto is taxable. I know everyone is going to have their “muh good goy” jokes, but I don’t want to do all these trades and make money just to get audited and absolutely fucked in a few years.