/biz/ - Business & Finance

>>54293282
shut the fuck up pepe you're gonna get us all in trouble

Darn, same here. I live in Austin, Texas. What about you?

>>54293282
doesn't matter if you're not holding for an extended period of time so that you end up selling higher. Biz is buy high sell low, so you are safe anon.

>>54293295
I’m sorry, Anon

>>54293309
I live in Miami, Florida

>>54293282
What about when you cash out?

>>54293351
I am planning to pay tax when I cash out millions

>>54293364
They will ask where it came from, what trades you made to get there, and whether or not you’re hiding more that you haven’t cashed out. Each crypto-to-crypto they regard as taxable. So yes, you’re fucked. Your only hope is not to report your cash out and pray they never find out. Good luck with that though… might be better off moving to El Salvador desu.

>>54293282
Delete this now

>>54293282
>>54293309
EVERYONE THESE ARE GLOWIES
DON'T SAY ANYTHING INCRIMINATING

I recommend that you cash out into cash (real cash, not funny bank digits) friend

>>54293428
Wrong. I will just pay tax and it will be fine. Mathematically speaking, the tax cant be more than the short term cap gains tax. I can just claim zero cost basis and pay max cap gains on everything. Of course i will have a tax attorney handle it for me

>>54293316
true. They'd probably owe me in tax harvesting tbqh!

>>54293530
that's a lot though. you could have paid for coin tax software and done the accounting correctly and paid way less taxes. even counting the cost of the coin tax software plus your time to enter every single trade manually it's still worth it over zero cost basis short term cap gains. imagine what kind of extra money you're forking over to government chomos just for the luxury of being lazy.

>>54293428
>>54293428
In the UK you have to pay a 20% sum on gains over £10k. I'll just pay a flat 20% on whatever I cash out so ill be overpaying. I don't have records of shit.

>>54293582
I will have a shady accountant and attorney make some shit up for me to minimize my taxes to whatever extent possible

Someone reported this thread to the IRS. You think you don't have to pay taxes? You think you're untouchable? You watch too much netflix. The arrogance of you faggots on 4chan is literally unreal.

>>54293619
The IRS can tongue my anus

>>54293637
You’ll be the one tongue-ing anus, in prison when the IRS catches your dumb ass.

>>54293605
you're not going to come out ahead. you'll still pay way more taxes than you owe plus whatever the CPA wants from you and you'll get assraped if you ever get a*dited. just stop being lazy and go sign up for one of those coin tax software thingies.

I have a bitcoin mining business and I always pay the tax on my electricity bill... is that helping end the FED guys?

>>54293660
Nope. I did nothing wrong. Youre only supposed to pay taxes when you cash out to USD on a KYC exchange, which I never did. Anyone who says otherwise is a glownigger disinformation monger.

Moreover, the IRS cannot prove I own any hardware wallets. Even if money was sent there from my KYC on ramp, they cannot prove its my custodial wallet.

The IRS can suck a big fat smelly gorilla nigger cock

>>54293763

>>54293586
You're forgetting the interest from the tax owed on crypto-to-crypto transactions from years ago, chud. The en atch ess needs its cut.

>>54293722
I can just file amended returns and pay later for prior years when i cash out. If i paid as i went, then id get cucked out of gains. The snowball effect of selling cycle tops and buying cycle bottoms is greater if you don’t give part of your stack away to irs kikes every year

>>54293763
That literally isn't how it works. IRS don't have to prove shit. YOU have to prove to the IRS how you got this money. Otherwise they'll just drop a zero cost basis on your ass then you're fucked.

>>54293801
If I don't have records and they don't have records what's the big deal? If they say you owe this much here are the records then fair enough I'll pay.

>>54293815
kys poorfag

>>54293763
Well I am a business owner anon I have to pay taxes just like all business owners do. Maybe this was a thing before BTC became big business. But now that it is big business the taxes you say you dont pay because you are a sovereign citizen simply do not compare to the taxes I pay as a business owner. I guarantee you all your shitcoin trades do not come close to the amount of tax I pay. But I want you to keep on struggling! We are making progress!
In ten years of BTC things have only gotten better for us. Just look at the world today. BTC is contributing to a net good in my opinion
Keep up the good fight brother!
brb have to pay my taxes

>>54293815
Im gonna amass 10 million dollars of stable coins and then cash out. Even if they assume zero basis and take half of my money, i am set for life with 5 million. Any amount I can get on top of that thanks to my attorney and accountant is just icing on the cake

>>54293843
>one post by this ID
Fuck you faggot. Only poorfags don't have a CPA on speed dial. How do you think billies get away with paying 3% tax rates?

>>54293857
5 million dollars is just above the poverty line anon and you just gave the government 5 million of your hard earned gains by being stupid. I know you are a sovereign citizen and want to end the FED but I don't see how paying additional tax just so you can live just above the poverty line in a nigger infested city harms them.
Actually as a business owner I am not sure how consuming energy harms the government?
Can any of you sovereign citizens help me out?

I enter every single thing I do into this stupid thing by hand, because I have tried a bunch of different ones and they always fuck up when they watch the blockchain or ingest CSV exports. it sucks massive donkey balls. on top of that I have to plug in my ledger doohickey and fiddle with it every time I do anything. I hate the government so much.

>>54293823
This
Isn't the whole point of IRS to actually prove stuff? Or are they just sitting around waiting for people to pay and then emailing them "prove it"

Black people are less than human.
Make sure your boss knows you saw this post so you can get 2 months of ptsd paid vacation.

>>54293282
based

>>54293530
Okay good luck. I sincerely hope this works for you, it certainly didn’t for a few friends of mine. One guy got huge fines for tax evasion and another guy got actual jail time. It was only a couple weeks but he lost his job because of it.

>>54293919
Well if you have money tied to your name you already showed them you have money
Now you have to prove the source of that money tied to your identity. Of course as sovereign citizens you can just say I am a sovereign citizen in a letter sign it stamp then mail it to them. they will apologize to you in about two weeks later saying how they are sorry they bothered you.

>>54293963
Didn't they use the sovereign citizen defence? Its fool proof! Those idiots. I bet they are learning about how to be better sovereign citizen in jail as we type fren :^)

>>54293619
What is the IRS?? Israeli Revenue Service??

consider carrying legal insurance. I have it as an employee benefit. it's already paid for itself because it covers lawyer fees related to real estate transactions. some policies cover basically anything you would need from a lawyer which includes IRS audits.

>>54293309
meet me at the narcan vending machine next to cenote at 1am. Bring your bad dragon lube

>>54293282
This post was a taxable event

>>54293963
Sounds fake and gay to me.

>>54293903
thats a good goy! keep tracking every single blockchain action you take! make sure to pay your jew accountant to help you pay those taxes!

>>54294013
If you are stealing energy from the grid you will still have to file that as stolen energy consumption in your tax return. they know you stole energy by the way. happened to a fellow small business owner
he was all look at my profits bro I was amazed but the risk was too great for me so I said no I don't think I will end the FED that way I will just pay taxes like a normal business owner. wait how did home miners separate the btc mining from their regular energy usage so they didnt pay tax on btc mining back in the day?

>>54293282
Very unchristian and antisemitic of you.

>>54293481
>>>54293282 (OP)
>>>54293309
>EVERYONE THESE ARE GLOWIES
>DON'T SAY ANYTHING INCRIMINATING

>>54293282
>not giving your shekels to the Israeli Revenue Service
Oyyyyy veyyyy! Shut it down.

>>54293919
That’s exactly what they do. Lmao. Have you never filed any exemptions on taxes?

>>54293309
Manaus, Amazónia, Brasil

Bump. Fuck kikes

>>54293582
>you could have paid for coin tax software and done the accounting correctly and paid way less taxes.

wrong. the way it currently works you can suffer extreme losses by doing this.

>buy 100k worth of doge
100k of doge turns into 1mil, you swap it to hex and pay 400k for the priviledge of doing so
>your 600k hex goes down 95% the following fiscal year. you now have 30k.
>you are very panicked and turn it into eth to save your last little bag but you have no gains that year to offset your losses with.
>eth pumps 2x next year and you sell it, hungry to realize any gains. you pay 24k in tax and have 36k left. it takes you 5 more years of this garbage for you to reach 1mil again.

or

>your 1mil of hex goes down 95%, you now have 50k
>you swap it into eth which 2x's, you have 100k. you sell it. you now have almost 3x as much capital to work with next cycle. you reach 1mil again within a year gambling on shitcoins during the bull, cash out and pay the tax man 400k with 0 cost basis.

this is of course an extreme example, but something thats entirely possible.

just playing devils advocate, gotta balance your risk vs reward in both cases.

>>54293282
OP might be the fed. They need to make money this year.

>>54293582
>you could have paid for coin tax software and done the accounting correctly and paid way less taxes.

wrong. the way it currently works you can suffer extreme losses by doing this.

>buy 100k worth of doge
100k of doge turns into 1mil, you swap it to hex and pay 360k for the priviledge of doing so
>your 640k hex goes down 95% the following fiscal year. you now have 32k.
>you are very panicked and turn it into eth to save your last little bag but you have no gains that year to offset your losses with.
>eth pumps 2x next year and you sell it, hungry to realize any gains. you pay 13k in tax and have 51k left. it takes you 5 more years of this garbage for you to reach 1mil again.

or

>your 1mil of hex goes down 95%, you now have 50k
>you swap it into eth which 2x's, you have 100k. you sell it. you now have almost 2x as much capital to work with next cycle. you reach 1mil again within a year gambling on shitcoins during the bull, cash out and pay the tax man 400k with 0 cost basis.

this is of course an extreme example, but something thats entirely possible.

just playing devils advocate, gotta balance your risk vs reward in both cases.

>>54293282
Because you've never lose your money

>>54293309
Kolkata, West Bengal

>>54293997
International Rothschild Spooks

>>54293282
kek, I use Railway wallet and my transactions are hidden from even etherscan.

>>54293428
The taxes are coming in hard on bizfags but its good to know there are safe havens like El Savador. I for one wouldn't mind cashing out my yields for the ETH/SYLO LP on Uniswap there without all the BS

>>54293428
reason 3005 why you should use mixers, relayers and zkp platforms as much as possible.

>>54293282
Move to Puerto Rico, pay no Federal US tax. Profit.

>>54294013
I’m sure there are carve-outs in the “IRS audit” insurance coverage for willingly committing tax fraud.
0% chance they’re paying for your audit defense.

>>54293428
Moving to Lugano, a Switzerland city that's accepting crypto is a better option

>>54300506
based.

>>54293756
PoR consensus algorithm will make GPUs outdated. It is more decentralised and environmentally friendly

fucking glowies

>>54298200
This. Paying taxes every year is like running with a weight shackled to your leg. Its gonna hold you back from making it as fast as you could.

>>54293309
Sometimes I put poopoo in my peepee hole and stuff it in with a straw then play pressure buildiesupsiwispies with daddy and I'll piss the compressed shit at such a high velocity that it damages daddy's skin.

>>54300506
Only a few protocols users relayers and I like the anonymity.

>>54293295
I always pay my taxes fucking dickhead

>>54300506
It's the zkp season and privacy coins will have a good run.

>>54293857
Another crypto bull run isn’t guaranteed…

>>54293282
Your IP has been submitted to the FBI for terrorist activities. Thank you for your cooperation citizen.

>>54303673
All the niggers and Zelensky are grateful.

>>54293282
>thousands
I doubt it’s enough for the government to even bother paying anyone to investigate.

>>54303718
This was how a faggot like you missed out on utk rally in the last bullrun. Stop fading like a fool you are

>>54303766
Nice, i dont care
Im rich

>>54304505
Retail is gone anon, they aren't buying crypto and won't be anytime soon. At best BTC pumps and all other alts barely hit ATHs again.

If you're positioned well you'll probably do fine, but a lot of people got rekt'd in the past year. No one is going to risk buying random alts now.. the days of 100x or 1000x are over.

>>54303718
You are never gonna make it faggot. The Qan train has left you long ago

>>54304724
So says a random fag. You gotta rethink your stance before it is too late

>he doesn't claim all his gains as a write off grant cardone #jetlyfe style
ngmi blue-collars

All fine if you don't show up on any radar and get audited. If you get one good luck disproving their estimates

>>54293282
I'm still hoping the irs doesn't fuck up my sora card when I get it, I waited too long for this, the market is right and the timing is right, this year will be MY year

>>54306743
So unfortunate of that anon. But luckily I managed to on board the QAN train which will be a game changing L1 with more security.

>>54293763
LOL, You haven't found out that crypto's are traceable.

>>54293282
>Buy the thing that was created by US government
>Trade it
>Earn money
>Don't pay tax on the thing the US government created
>Also the US government can track bitcoin and many other crypto's
>Think you can outsmart people that built the thing that you bought

Enjoy being a faggot on the run.

>>54293763
Really though, if the IRS tracks you down by checking the wallet(s) to which you initially transferred your coins from the KYC exchange, how are you going to explain you bought and sent crypto to these but somehow they're not yours? And even if they were to accept a bogus explanation, you'd still need to argue why you bought crypto in the first place and where did that money go. I highly doubt just saying "oh these wallets aren't mine, I just bought crypto for fun and sent the money to a random wallet" will cut it.

>>54310892
Kek....he is so naive. I am awaiting for the most decentralized blockchain explorer Librescan.