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/biz/ - Business & Finance

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28094506 No.28094506 [Reply] [Original]

If you can buy a tesla with BTC in the future, its a great way to cash out and avoid taxes.....

>> No.28094614

No it isn't, you still have to pay capital gains taxes on asset-to-asset transfers unless it's real estate and you get a 1031.

The real way to cash out tax free is to borrow against your crypto.

>> No.28094845

>>28094614
In US maybe, not in some european countries.

>> No.28094875

>>28094614
Yup. Gotta borrow against your crypto. Just stack btc and eth in high APY generating wallet. Play with alts if you don’t have much money but “cash out” to btc or eth. Then just borrow against them in a couple years.

It’s pretty clear at this point that btc is always going up. We may have a couple
Years bear market but it doesn’t matter if it’s higher lows.

>> No.28095084
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28095084

>>28094875
Most loan providers offer very poor loan-to-value ratios.
What LTV would you be happy with and how do you proceed with it?
Do you negotiate a personal offer? Does this work?

>> No.28095130

>>28094614
Why would you pay cap gains tax on a purchase? You're just sending the coin to another wallet.

>> No.28095226

>>28095130
Maybe that's the law in Burgerland.
Definitely not true for most of Europe though.

>> No.28095265

>drive telsa off the lot
>lose 30k in value
>check crypto
>lose 30k in value
>housing market drops
>lose 300k in value
>move in with parents
>telsa has 140 mile range on full charge
>no charging stations in cuckville

>> No.28095416

>>28095226
I'm not saying I know the answer but just thinking out loud.
How is bitcoin - or any crypto - going to be a viable alternative to fiat if you have to pay a 40% tax to spend it? Makes no sense and I can't see it being the case.

>> No.28095425

>>28095265
Just plug it in at your parents house for free energy.

>> No.28095480

>>28095425
>house catches on fire
>no insurance

>> No.28095526

boi I was comfy going to sleep at 5c and those tards dumped it as soon as I closed my eyes
this killed my brains, seems like I will lose every time
only poolz finance provides me profit now with their liquidity system

>> No.28095588

lmao they still try to shill this trash here, don’t check it if you are not a stupid

wanna get income with no risks - use NFT, best option for 2021 kek
I discovered Playcent and that shit that u try to bring me is not exciting

>> No.28095671

>>28095416
You pay your income tax rate on capital gains (assuming short term not long). That is just as viable as trading stocks for your weekly groceries. Ie a pain in the ass come tax time unless the tracking is automated.

>> No.28095725

>>28095084

This is true. For now. For example, Unchained Capital currentlyoffers ~40% LTV.

I see LTV ratios moving higher closer to 60-70% in the future, though, as competition in the wife heats up.

>> No.28095739

>>28095425
Plug it into itself and it will use the remaining charge to recharge the depleted portion of the battery. Harness the unlimited energy potential. I don't understand why nobody does this.

>> No.28095757

>>28095416
theres no tax on mars

>> No.28095825

>>28094845
in finland we have absolutely robbery taxes. we have to pay taxes from crypto to crypto trades if it creates profit. losses dont affect anything

>> No.28095912

>>28095825
also we have to pay taxes when we buy stuff with crypto if crypto is created profit in the moment you buy something

>> No.28095934

>>28094506
I wouldnt buy a piece of crap like that

>> No.28095970
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28095970

>MFW Australian
>30% CGT
>If you hold for longer than a year you get 50% discount

COPE HARDER AMERILARDS. FUCK YOU.

>> No.28096061

>>28095825
Same in Sweden, I’ll be rekt if I ever want to cash out. I dont want to cash out though. I dont mind our taxes desu, but taxing crypto-to-crypto on an exchange is just retarded. Also losses are deductible I think.

>> No.28096262

>>28095671
>>28095226
https://www.nerdwallet.com/article/investing/bitcoin-taxes
This is pretty retarded but not unexpected
What is the incentive for making purchases with bitcoin if you are just going to be taxed on it as cap gains? Seems like a headache for both the buyer and the seller.

>> No.28096586

>>28094506
then you can (= have to) use retarded tablet to open glovebox, really epic

>> No.28096619

>>28095825
>>28095912
Try Slovakia bro. Crypto to crypto taxes, taxes when buying something with crypto and the tax rate is not influenced by how long you have the.
And the best part - you have to pay 25 % income tax on them AND 14% fucking HEALTH INSURANCE on top of it. So 39% tax in other words.
Health insurance from crypto, ohh.