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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance


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5734908 No.5734908 [Reply] [Original]

GREAT SO NOW I HAVE TO FUCKING MANUALLY KEEP TRACK OF EVERY FUCKING TRADE BECAUSE SOME REPUBLICAN FUCKING NIGGERS DECIDED CRYPTO NEEDED TO BE OVERREGULATED? COOL STORY TRUMPETS THANKS FOR MAKING LIFE HARDER YET AGAIN, DON'T EVEN RECOMMEND COINTRACKING OR BITCOINTAX BECAUSE NEITHER FUCKING WORK CORRECTLY. FUCK YOU. FUCK THIS COUNTRY.

>> No.5734962

1) exchanges will let you download your trade history and you can send this to websites that will organize it for you

2) it doesn't matter for any trade you did in 2017, as the law only applies to 2018 taxes

3) it's really not a big deal, and is mainly used to make sure smart people don't evade taxes by doing a ton of manipulative trades or whatever.

>> No.5735032

>>5734962

How the fuck is anyone going to ever know what kind of trades you've made? You thing Binance out in Sinagpore is going to send your trade history to the gubment?

>> No.5735094

>>5734962
>1) exchanges will let you download your trade history and you can send this to websites that will organize it for you
WRONG. THE FILE ALWAYS IMPORTS WITH ERRORS.
>2) it doesn't matter for any trade you did in 2017, as the law only applies to 2018 taxes
IRRELEVANT, THIS IS 2018 NOW. FUCK YOU.
>3) it's really not a big deal, and is mainly used to make sure smart people don't evade taxes by doing a ton of manipulative trades or whatever.
IT IS A BIG DEAL. NOW I ACTUALLY HAVE TO THINK ABOUT MORE SHIT SINCE IT'S OVERCOMPLICATED NOW AND THEN MANUALLY KEEP TRACK OF EVERYTHING.

WHAT THE FUCK IS WRONG WITH JUST REPORTING CAPITAL GAINS? WHY THE FUCK ARE YOU DEFENDING THIS OVERCOMPLICATED BULLSHIT TAX SYSTEM YOU FUCKING COLOSSAL FAGGOT?

>> No.5735096

>c-c-cca't stump the trump h-haha PEPE sieg heil!
>net neutrality is over
>crypto regulations
Way to go USA.

>> No.5735149
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5735149

>>5735096
AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

>> No.5735631

>>5735096
AT LEAST /OURGUY/ IS RUNNING THE SHOW

>/ourguy/ proceeds to fuck over the open internet, environment, and crypto

I REFUSE TO ADMIT IT'S NOT WORKING OUT

>> No.5735685

>>5734908
The best part is that you get taxed on cashing out too. So you're basically paying the same tax twice.

>> No.5735691
File: 183 KB, 600x600, 1512794170212.png [View same] [iqdb] [saucenao] [google]
5735691

>>5734962
Wrong. You have to file capital gains for 2017 as well. Do otherwise at your own peril. The IRS has been pretty clear that like kind does not apply to crypto. You CANNOT claim like kind trades without filing forms claiming like kind.
>>5734908
You need to pay taxes for 2017 trades as well. Did you not think you'd be on the hook for capital gains?

>> No.5735727

>land of free

>> No.5735770
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5735770

>>5735691
>>5735685
AAAAAAAAAAAAAAAAAAAAAAAAAAAAAA FUCK YOUUUUUUUUUUUAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

>> No.5735868
File: 75 KB, 570x379, 0AB69E36-7BDA-4DD2-A402-1BA63F54921E.jpg [View same] [iqdb] [saucenao] [google]
5735868

Dude capital gains, even short term, simply means you’re taxed at your income tax rate. Treat crypto like a job, you’re still beating the hell out of wage slaving. Even with the tax withholding.

Don’t be a whiny little bitch.

>> No.5735918

>>5735094
>makes 10000% ROI speculating on a series of tubes expressly designed to break USD
>assblasted that the government wants him to report it

>> No.5735924

>>5734908
Don't blame Trump voters, blame the retarded SJW who pushed people to vote for him. Looking at you, XLM.

>> No.5735997

just trade on binance only
i want to see how that 55 year old IRS agent gets a single document from binance lmao

>> No.5736000

>>5735868
Nah dude it's bullshit having to keep track of crypto to crypto trades. I should only pay taxes on what I take out to fiat. It's literally like being double taxed, so what, if I make a few coin to coin trades in 2018 now I'm going to have to /cash out/ to pay those fucking taxes and then pay an extra set of taxes on those coins i cashed out to pay the taxes?

Literally the fucking most retarded system on the planet. Thanks Trumpets.

>> No.5736095

>>5734908
Why dont you boycott it? Start by sending letters of complaint to your local senators. DO SUMTING FAGGETS other than complaining fucking sheeps

>> No.5736127

>>5735924
Found the FUDding loser who missed out on the money train

>> No.5736136
File: 2 KB, 125x115, 1379025808709.jpg [View same] [iqdb] [saucenao] [google]
5736136

>>5736095
>boycott taxes

>> No.5736163

>>5735997
They'll keep you hostage and spend months trying to figure out how you did it. Also if a ton of people become millionaires out of this next year the IRS will figure it out sooner or later.

>> No.5736170

more people need to be like >>5735868

calm the fuck down pay your taxes or risk getting dicked down hard by the IRS

>> No.5736182
File: 30 KB, 480x600, yes.jpg [View same] [iqdb] [saucenao] [google]
5736182

>>5735096

>> No.5736189

>>5736095
>>5736136
>implying that does anything in this absolute /police state/
>implying they're not all paid traitors

>> No.5736231

Trump is doing you a favor /biz/, he's trying to tell you to hodl instead of trying to day trade

>> No.5736254

>>5736095
>complaint to your local senators.
Your local senator doesn't give a fuck about your monopoly money gains anon.

>> No.5736281

>>5736231
bullshit nigger I hop around coins when i see potentially bigger gains to be had, now with this bullshit tax bill I have to consider /cashing out/ to pay for those trades?

FUCK THAT

>> No.5736425

>>5735727
no, it's
>land of the fees

>> No.5736466
File: 1.60 MB, 480x480, 1514349493367.gif [View same] [iqdb] [saucenao] [google]
5736466

>>5736425
IT HURTS STOP IT ANON AAAAAAAAAAAAAAAAAAAAAAAA

>> No.5736473

it was actually a democrat who put in the crypto part of the tax bill

>> No.5736477

Shumer and Pelosi insisted

>> No.5736486

Just be glad you dont have a steemit account and rely on Steemit for your income.

Every upvote is a taxable event!
It takes 13 weeks to fully get all of your money back out of Steem power. So if Steem ever gets an insane bull run in value and you are a poorfag YOU FUCKING GO TO JAIL because you cant cash out your coins fast enough to pay your taxes.

>> No.5736539

>>5736473
gotta get mo' money for dem' programs somehow

>> No.5736589
File: 3 KB, 114x125, 1514623437319s.jpg [View same] [iqdb] [saucenao] [google]
5736589

>>5736473
>HURR DURR ITS THE DEMOCRATS FAULT FOR PUTTING 600$ TAX FREE TRANSACTION

HURR DURR THE REPUBLICANS PASSED THE FUCKING BILL WITHOUT EVEN READING IT HURR DURR PARTY POLITICS

>> No.5736608

>>5736170
fuck you and fuck the IRS

>> No.5736619

This is what happens when you decide to elect a reality TV star and glorified estate agent pampered daddy's boy who also happens to be 70 years old and an all-round cunt.

>> No.5736640

>>5736486
LOOOOOOOOOOOOOOL

>> No.5736647

>>5736486
That sounds interesting.

>> No.5736654

Say in 2018 all the Stinky Linkies become millionaires. If they then move to Puerto Rico and establish residency, do the taxes become zero on anything they then cash out?

>> No.5736658

>>5736473
this

>> No.5736667

>>5736486
File an extension retard

>> No.5736669

This shit is only going to matter if you've really, truly made it. I mean, if you're cashing out 1m+ and complaining about having to worry about each individual trade, you don't deserve your money and deserve the IRS fucking you. You've NEETed your whole life, found an easy out, and think you're going to just skirt by with 0 work, reading an image board to catch 20%+ gravy trains?

I hate people like you, chill out you whiny bitch. Grow up and act like an adult, this could lead to you retiring, and if you're not even close to that, why are you bitching? They're not going to care about your 100 dollars you cash out to buy a fleshlight

>> No.5736706

>>5736669
fuck you statist boot licking faggot cuck

>> No.5736760

>>5736669
>>5736706

You are both right.

>> No.5736774

>>5736473
NO

NO ITS STUPID DRUMPHY. ITS NOT LIKE THIS WOULD HAVE HAPPENED WITH LITERALLY ANY OTHER CANDIDATE

DID YOU FUCKING IDIOTS EVEN SEE WHO HE WAS RUNNING AGAINST? YOU THINK JOHN KASICH OR BERNIE SANDERS WOULD NOT HAVE TAXED YOU?

STUPID DRUMPHY

>> No.5736782

>>5736658
>being this delusional
Yes, lets blame the democrat for allowing 600$ tax free transaction in a bill created by republicans and passed unanimously by republicans

>being this deluded

>>5736669
>This shit is only going to matter if you've really, truly made it.
Speak for yourself, faggot.

>> No.5736799

>>5736669
>it's okay to get screwed over as long as you make enough money to still have a lot left over
>just commit tax fraud if it's a small amount

People like you make me sick, paying taxes for cryptos before you convert to fiat is absolute bullshit.

>> No.5736867

Former crypto supporter here it's hilarious seeing shitcoin traders' neetdom crash and burn but seriously we can't let them get their hands on millions of dollars

>> No.5736891

>>5736669
My only real problem with the tax situation is the opportunity cost is super insanely high when it comes to paying taxes.

They treat this like its me just paying 30% of my income but that 30% ends up being 300k a year from now.

But on top of that, if I go a year avoiding taxes it would be more cost effective to pay it all at once on the second or third year down the road. Once you calculate how much you owed each year, then HODL those coins for an additional year.

Paying 2 or 3 years of taxes at once is more cost effective due to the insane growth of the market.

>> No.5736903

>>5736231
this

>> No.5736907

I'm not reporting shit.

I've withdrawn about 35k worth of crypto to my bank account this year. I put in like 30k though.

If they call me on it I'll pay the penalties or whatever. If they freeze my accounts I'll just renounce citizenship and move to Japan with my crypto like /ourguy/.

>> No.5736919

>>5736000

Aren't you libcucks the ones always crying about rich people not paying their fair shares and hiding all their wealth

Dumbass communist hyprocrites

>> No.5736946

>>5736907
>Getting citizenship in Japan.

Lmao good luck, fag.

>> No.5736949

>>5736891
This is true, but we shouldn't be forced to hold our fucking investment because of some bullshit tax law. How the fuck do we change this shit? No one seems to give a fuck about it or even know about it, so we're just going to let them steal our money and force us to trade a certain way?

I really don't want to cash out to pay for my crypto to crypto trades.

>> No.5736959

Do any of you fuckers actually plan on paying taxes? As soon as I get any substantial amount, I will be transferring to a non-US exchange.

I make fuckin 13 dollars an hour at some shit job. I put my only 1000 i could spare into crypto and i have turned it into 4000 in the last 4 weeks. I plan to continue at this rate and I plan on not giving one mother fucking penny to the nigger tax man.

Capitals gains? Nigger you already taxed the money once when it came out of my paycheck. What I do with it is my business.

>> No.5736968

>>5736907
Its nearly impossible to get into Japan that way.

>> No.5736983
File: 187 KB, 800x1237, File-Jared_Polis_official_photo.jpg [View same] [iqdb] [saucenao] [google]
5736983

>>5734908
A democrat snuck it into the bill:
https://en.wikipedia.org/wiki/Jared_Polis

>> No.5736985

>>5735096
>He's for net neutrality
That's cute, honey.

>> No.5736992

>>5736919
>implying i'm a libcuck because I don't like trump or republicans
the absolute state of /pol/
You know people exist outside of the current spectrum of political alignment, right?

>> No.5737009
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5737009

thanks trump

>> No.5737017

>>5736959
>Capitals gains? Nigger you already taxed the money once when it came out of my paycheck. What I do with it is my business.
fucking this, I wagecucked my initial $500.

the government can fuck right off.

>> No.5737027

>>5736992
Big brained centrist confirmed, exit thread, he'll wow us with his fence sitting smarts.

>> No.5737046

>>5736959
>>5737017
This

>> No.5737059

>>5734908
Put together my taxes yesterday and it wasn't difficult. Imported data from 6 exchanges including etherdelta and accounted for 6 icos. Made 20k and set aside a bit over 5 then buisness as usual.
Use bitcoin.tax and if an exchange isn't supported you can fix the formatting and upload it as a custom csv. For etherdelta use deltabalances.github.io

>> No.5737073

>>5735868
They could just simplify the process, just a tax as soon as you cash out into fiat. Otherwise if they want to tax this as a currency then I'm going to pay that tax with said currency. Hope you like getting paid in e-pennies IRS.

>> No.5737080

>>5736949
I am going to enjoy it when a lot of these "Pay your taxes because its good" people realize they cant actually cash out like they think they can,

Cashing out crypto efficiently is a privilege a lot of people simply don't have.

Also, I will cry a bit when the IRS just starts toss innocent people who lost wallets or fucked up transactions. Because they WILL need to take a zero tolerance stance on shit like that.

A lot of us are already doomed to prison as we speak.

>> No.5737098

>>5736968

Literally the only way to get citizenship as a foreigner is to marry a jap

>> No.5737115
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5737115

>>5736983
>Polis is the first openly gay parent in Congress.[1] He consistently ranks as one of the wealthiest members of the United States Congress, with a personal net worth estimated at nearly $400 million.
>born Jared Schutz
>In 2000 he legally changed his name to use his mother's surname, in part to raise awareness for a fund-raiser and because he simply "liked it better".

Wow, a gay Jewish democrat degenerate. Go figure.

>> No.5737138

>>5736992

Did you or did you not vote for Hillary

>> No.5737140

>>5737080
good point man. i transferred $6mm worth of coins to my wallet and then my hard drive died :(

:)

>> No.5737144

>>5736473
red or blue, it's still a jew fucking you

>> No.5737169

>>5737115
>Rep. Jared Polis, D-Colo., and Rep. David Schweikert, R-Ariz., co-chairs of the Congressional Blockchain Caucus, introduced the Cryptocurrency Tax Fairness Act of 2017 today.

Stop spreading lies. Republicans are equally at fault, even more so since they control the entire government.

>> No.5737180

>>5737059
You are retarded if you don't wait until the last second to pay your taxes when you hold crypto.

The best thing to do is wait as long as possible to reduce the risk that your shit either goes way up or way down.

>> No.5737206

>>5737138
Fuck no. I wouldn't have voted for anyone running. I'll probably never vote. The system is completely fucked and the people are too.

>> No.5737238

>>5737140
You are toast, they will say you are evading taxes.

>> No.5737275

>>5737238
The proof is on them.

>> No.5737292

>>5737275
Nope. With the IRS it's guilty until proven innocent. Another reason why the IRS needs to be abolished.

>> No.5737321

>>5737238
They can feel free to prove it then. Or just say you lost it in a hack. They can't prove otherwise.

>> No.5737329
File: 27 KB, 480x362, mitenoistom.jpg [View same] [iqdb] [saucenao] [google]
5737329

>>5736985
he doesn't even know what the fuck those words mean nigger

>> No.5737337

>>5737292
They will say he is hiding the recovery keys. Flash bang his dog and rip his house up looking for them,

>> No.5737351

>>5737238
Nah bro i had my coins on a ledger nano and i got mugged while walking down the street. I filed a police report look at these bruises where i got punched.

>> No.5737364

>>5737337
More like kill his dog. Police shoot all animals on entry.

>> No.5737367

>>5734908
>falling for the jew lies about a completely unrelated realestate tax code
YOU BOUGHT YOUR RIPPLE DIDN'T YOU GOYIM?

>> No.5737376

>>5737059
>5k in taxes from 20k
holy shit land of the free

>> No.5737388

>take risk
>lose out
>oy vey goy tough break huh better luck next time

>take risk
>profit
>oy vey goy give us our fair share we have a claim to your money

>> No.5737392

fucking americans. you ruin everything. first net neutrality and now crypto.

>> No.5737404
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5737404

>>5734908
BUT DEMS ARE DA REAL RACISTS YOU HAVE TO PAY TAXES SO BASED MAGAPEDE NIGGERS CAN BREED WITH WHITE WOMEN #MAGA

>> No.5737408

>>5737351
"Why were you carrying that much around like that?"

>> No.5737414
File: 108 KB, 781x1123, 1511736725834.png [View same] [iqdb] [saucenao] [google]
5737414

>>5735096
>net neutrality is over
If a jew ever tells the truth they die.

>> No.5737420

>>5737292
The delusion on here is insane. I've been audited before. They will ask for all records of income and copies of your bank statement. They can't hit you with 6 million in income if there is no trace of that anywhere on your bank statement or financial documents.

>> No.5737433

I love how all of the sudden everyone realizes that the government oversteps their boundaries and infringes on peoples rights and pocketbooks.

Its hilarious really. Ive been a libertarian for many years and ive said all these things before. Yet as soon as your precious gains are looking at a 35% reduction suddenly everyone dislikes uncle sam.

>> No.5737439

Republicans are just leftists that love big government and taxes.

You guys should have voted for Ron Paul

>> No.5737453

>>5734908

4d underwater backgammon, and you're a fool if you believe anything else.
Once anon decides that enough is enough the tax code will be as worthless as the paper it's written on. How many accountants and tax attorneys do you think lurk here? Whales that can't remember the last time they paid a dime in taxes?
Give it a month or two and a pastebin will be floating around on how to Jew the IRS into oblivion

>> No.5737457

>>5735691
if that's true, then they wouldn't have needed to pass a law about it, now would they

>> No.5737458

>>5737180
I cashed out completely and then calculated it, but that doesn't actually matter. You transfer the cost basis at the point of trade. It doesn't matter if your holdings go up or down until you trade them and the gains are taxed in whichever year that happens. You can also claim losses as a deduction up to $3000.

>> No.5737461

>>5737376
Euro taxes are even higher, gotta pay for all those muslims raping their daughters and wives. American personal income taxes are some of the lowest in the developed world.

>> No.5737481

>>5737169
>republicans control the entire government
>ironically believing this

When will you brainlets learn

>> No.5737504

>>5737420
They will have to treat this differently otherwise everyone will lose their wallet and everyone will find a magical wallet 5 years from now.

>> No.5737509

>>5735096
This tax thing is bullshit

But net neutrality is also bullshit

The government grants comcast etc monopolies in the first place
The government is the reason comcast etc is so big

>> No.5737514

>>5735868
Who else is going to pay for Shaniquahs niglets? Pony up you incel NEET.

>> No.5737515

>>5737388
and if you dont we will send men with guns to bust down your door, shoot your dog, give your kids PTSD and make your wife piss herself while barking confusing commands at you and literally put you in an unbreakable steel cage. Then, we will take far more than what we originally asked for just to make an example out of you.

>> No.5737518

>>5737420
>put in 3.3k from bank into coinbase
>trade on bittrex and make millions
>cash out through coinbase to bank account

ANON HOW DID YOU DO THAT PROVE YOURSELF

>uhhh i didnt keep track i just traded for fun

YOU CANT PROVE WHERE YOU GOT THOSE MILLIONS? TIME FOR JAIL FAGGOT

literally how it works

>> No.5737538

>>5737329
>t. illiterate

>> No.5737542

Elections have consequences you dopes

>> No.5737549
File: 1.14 MB, 1366x2653, le_shemitah_face.png [View same] [iqdb] [saucenao] [google]
5737549

There's a lot of tinfoil hat LARPing ITT so I'm just going to assume everything will be fine.

>> No.5737553

>>5737549
da

>> No.5737571

>>5737481
>implying they dont
are you really that stupid? damn dude im sorry for you and your family

>> No.5737605

>>5737509
lol net neutrality has nothing to do with ISPs lobbying local governments you retard

>> No.5737607

>>5737275

The IRS doesn't play games like that and they don't think shit like is cute of funny

They have the ability to just anally rape you without any legal proceedings and they will

>> No.5737613

>>5736867
lmao

>> No.5737684

>>5737458
This is how I know we have IRS shills chilling out here. If you wait until the last second you give your coins a chance to go up in value and thus when you pay will lose less of your long term growth.

In crypto you need to wait as long as humanly possible to pay. You have to file extensions. If you can eek out a 6 month extension then paying taxes will be far less painful. Even better if you can skip a year.

Delay Delay Delay, the longer you wait the easier it will be.

>> No.5737686

>>5737439
>You guys should have voted for Ron Paul
Yeah If only we were like you jewbergertarians who are funding modern bolsheviks and bragging about it.

>> No.5737706

SO HOW DOES IT REALLY WORK

DO I PAY A CHUNK OF TAX ON EACH TRADE OR A CHUNK ON THE FINAL CASH OUT AMOUNT OR BOTH

>> No.5737710

>>5736654
Puerto Rico is part of the USA... you still pay federal taxes.

>> No.5737720

>>5736000
Communist hypocrite...the fair share only exists when it's other people's money

>> No.5737771

>>5737720
WHAT THE FUCK ARE YOU EVEN TALKING ABOUT LMFAO

>>5737706
CRYPTO TO CRYPTO, BUT YOU ARE FORCED TO CASH OUT TO PAY FOR THAT, SO YOU'RE LOSING POTENTIAL GAINS BY CASHING OUT TO PAY FOR A SMALLER AMOUNT OF GAINS.

>> No.5737814

>>5736127
You're projecting, I'm boarded and fastened the seatbelt. Doesn't mean that the people who posted that SJW drivel are scum of the earth and should die in a fire, though, and if you think otherwise, you should immediately return to Tumblr or whatever godforsaken shithole you came from.

>> No.5737837
File: 884 KB, 480x206, F2604C3C-C723-4B1F-A746-34B4190A3450.gif [View same] [iqdb] [saucenao] [google]
5737837

Buy bitcoin on Coinbase in September, send BTC from Coinbase to Kraken Crypto Exchange , buy ZEC (ZCash) with BTC, ZEC doubles, Convert ZEC back to BTC and send back to my Wallet at Coinbase (a story of its own)
What now ? It actually isn’t a gain I would’ve made more leaving it in BTC.

>> No.5737838

>>5737504
It's an unenforceable policy. Think back to Napster in 2000. Everyone was pirating music, big business and government was scared of it, but they couldn't do shit to enforce it. Sure you'd here on every major news station like once every 6 months about that dude getting life in prison for downloading the new Brittney Spears album, or some random anime, but the other 99.999999% of people got off free and those cases were just publicity stunts that ended up getting off down the road too.

Same with crypto, you can't just lock up a large portion of your population without any proof or evidence to back you up. If you aren't cashing out to fiat there's no way they can enforce these policies and you'd have to be a retard to report it.

I on the other hand panic cashed out during the crash and have large bank transfers on my statement. I make about 150 trades a day sometimes though so I'm just reporting the fiat value and hoping I don't get flagged for an audit. Never making the cash out mistake again unless I'm in the millions.

>> No.5737855

>>5737684
Considering I reset my portfolio daily, it makes no sense holding out for the 15% long term gains tax, 10% is chump change. Also Dec 31st IS the last minute.

>> No.5737891

Calm the fuck down. I've had to hire 1 tax lawyer on $5k retainer and an accountant to do my taxes this year because I cashed out $450k and don't feel like going to prison.

I think they know more then people on biz, they are just claiming all my trades from crypto to USD.

They just needed the cost basis what I bought at and what I sold at. For the BTC I made from my trades the cost basis starts at the time I turned let's say ripple into BTC.

So 1 BTC at $1500 invested at $.10 ripple. Sold Ripple at $1.00 for 10 BTC.

So on taxes it looks like this. 10 BTC at $1500 sold at $14,000. And that's only if you cashed them out to USD like I did.

>> No.5737900

>>5736619
Lel this
Trump tards are functionally retarded

>> No.5737902

>>5736654
>>5737710
Act 22 makes it so Puerto Rican citizens dont have to pay capital gains tax. It was established to help keep investment money stimulating the PR economy.

>> No.5737931

>>5736170
No one needs to be like him, because taxes are theft. The thought of paying taxes is never ok...third worlders know what I'm saying. And if you are a libtard, you deserve to pay a shitload of taxes, since that's what you've always wished when it came to other people's money
.

>> No.5737935

>>5734908
>waaaah i have to import my trade histories into a calculator and report the output
>waaaaaaaaaaaaaaaaah I have to pay short term capital gains because I'm a normie who just entered crypto
>waaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaah

go fuck yourself, op

>> No.5737942

Hahahahahaha get fucked ameritards

>> No.5737946

>>5734908
>republican
Actually that amendment added to the tax plan was introduced by a Democrat. Good job nigger.

>> No.5737968

>>5737891
That’s the 2017 rules dumbass. It all changes in 2018.

>> No.5738002

Tax noob here.
What would theoretically stop me from just declaring my cashed out money every year?
Keep in mind I'm not asking if it's legal. I'm asking how could they stop me.

>> No.5738007

Just take a salt loan you dumb nigger

>> No.5738016

>>5737946
>>Rep. Jared Polis, D-Colo., and Rep. David Schweikert, R-Ariz., co-chairs of the Congressional Blockchain Caucus, introduced the Cryptocurrency Tax Fairness Act of 2017 today.
fuck yourself idiot republicans are mostly at fault here

this
>>5737968

>> No.5738023

>>5737706
You pay on your net gains, but that is recalculated every time you make a trade. That can be positive or negative and you summ the gains and the losses, add that to your income to determine your tax bracket, determine which if any are long term gains (over 1 year) and then you pay 15 or 25% (for most working adults) on your net gains. For neets making less than 20k (iirc) you may be paying no tax at all.

>> No.5738064

>>5737855
For most people its the difference between 10% or 200%. Delaying is absolutely a good idea. You need to wait as long as possible before actually cashing out.

Its very simple logic. The only reason this would change is a no bullshit crash at which point then you just say everything went to zero all of the money is gone.

This shit is going to get gamed and it makes a lot of sense to file a couple extensions before paying.

>> No.5738074
File: 105 KB, 604x710, dQ7avQe.jpg [View same] [iqdb] [saucenao] [google]
5738074

>>5737115
This kike faggot is just slamming the door behind him. He doesn't want new people climbing their way to riches... And then he has the NERVE to claim it's all in the name of social justice and equality...

>> No.5738084

>>5734908
don't forget you gettin in huge debt for basic education (which is free anywhere else)
and can enjoy shootings on a daily basis nearly.

>> No.5738093

>>5738016
Can you stop being such a partisan redditor faggot for 2 seconds? This would have happened either way and would probably be even worse under Hildawg.

>> No.5738094

>>5736669
Die poor you keynesian piece of shit

>> No.5738100

>>5738016
What a kike cocksucker. Who supports importing massive amount of third worlders into this nation?

>22 posts by this user.

>> No.5738123

>>5737457
Capital gains tax is a law, brainlet.

>> No.5738134

>>5738023
STILL DONT GET IT LNAO

>> No.5738136

>>5737968
It hasn't passed yet ya fucks. Why would you trade on exchanges where you give your real name anyway?

>> No.5738161
File: 72 KB, 788x685, cheers.jpg [View same] [iqdb] [saucenao] [google]
5738161

>>5734908
>tfw shilled for Trump on 4chan, YouTube, Reddit and Twitter
>live in Europe

Get rekt faggot, death to america

>> No.5738187

>>5738002
It would probably work for a year or two, but you would be in serious danger of being fined into the dirt in subsequent years. That is basically what is going to happen enmass to everyone that made big gains in 2014-2016.

>> No.5738199
File: 47 KB, 625x541, a0364f849dcd26b9a6072a5da9739e22--in-maths-math-class.jpg [View same] [iqdb] [saucenao] [google]
5738199

>>5736959

>> No.5738202

>>5734908

probably dat money is going to add to the 10 TRILLION missing from the pentagon
TOP KEK

https://www.activistpost.com/2017/03/10-trillion-missing-pentagon-no-one-not-even-dod-knows.html
(one of so many sources, look it up)

>> No.5738222

>>5737837
And how will you explain how you obtained these coins?

>> No.5738242

>>5738093
It may have happened either way or been worse under killary but lets be real here and realize that none of that ever happened and we currently live in the now, not the "could've been".

>>5738136
It's pretty much guaranteed to pass in a R controlled murica.

>> No.5738252

the banglets itt are hurting me
please stop........................................

>>5735096
unrelated—at least, in the eyes of the guy that snuck this bit in (who, as some have pointed out, is a democrat); this proposal was presented before the abolition of title II net neutrality
though an interesting point, this argument probably would have been ignored anyway

and, if you look at it from the point of view that it is related—remember, crypto transactions will unironically be called hate speech
if the internet is a public utility, the government is allowed to make efforts to take it down
if the big software platforms foresaw their monitoring programs being disrupted by the exponentially increasing value of the tokens behind decentralized, privacy-based blockchains, we'd see companies like google and facebook getting actual government provisions
it'd be a no holds barred bloodbath

they're gonna try their moves on vitalik; they probably think that they can get him to implement some sort of centralization into ethereum right now
i hope that they're wrong

>t. feels like a larper

>> No.5738275
File: 72 KB, 713x611, 1512787989840.jpg [View same] [iqdb] [saucenao] [google]
5738275

>>5736486
>he thinks people go to jail for not paying their taxes
lol its a fucking penalty at the worst. the only people that go to jail are the millionaires/billionaires who blatantly evaded paying their taxes.


you dumb niggers dont understand that if youre going to do something illegal do only one illegal thing at a time. as in, dont tax your like kind trades, BUT tax your USD cashouts. jesus its really not rocket science.

>> No.5738307

>>5738275
tell that to wesley snipes

http://www.cnn.com/2013/04/05/showbiz/wesley-snipes-released/index.html

>> No.5738318

>>5738064
Well it's not due for a few months I calculated my taxes (not paid) mostly to see how much I had to play with and reap a little profit. I'm already cashed back in. My point was that when you trade, it is the same as cashing out from a tax perspective and I trade frequently so it doesn't matter.

>> No.5738325

>>5738222
Monies from Credit Union in US ( PA ) to coinbase

>> No.5738329

i work in Atlanta. I know a nigger that files over 20 returns this time of year on stolen identities. Last year he made $50,000. He even taught a class in his home to other niggers on how to do it. These are the people your capital gains are financing.

>> No.5738379

>>5738325
And then you need to prove how you got the fiat to buy the crypto. They will suspect you of money laundering, drug trade or other illegal things.

>> No.5738417

>>5738329
Nigs gonna nig. This is why blacks and whites need political segregation.

>> No.5738426

>>5738307
Yeah , lol, we Sovereign Citizens now

>> No.5738428

>>5738329
>the abused minority
>the victims of society
>the underprivileged african americans

>> No.5738431

I start with 1 BTC on a day where prices aren't changing. In the course of a day, I trade BTC for Eth, Eth for Ltc, Ltc for ICX, etc for 100 times,, finally ending back at 1 BTC which I sell for USD. So do I fucking have to pay taxes on the price of a single BTC, or do I now owe a gorillion dollars I don't have because each trade is taxed?

>> No.5738461

>>5738431
This is my question too but i didnt know how to put it into words.

>> No.5738471

>>5738379
No it’s all wage Cuck money that I put in to a checking account

>> No.5738473
File: 632 KB, 800x800, 1514272531008.png [View same] [iqdb] [saucenao] [google]
5738473

>>5738275
Fuck up you ignorant shit.

When i was in supermax prison. I met a heap of different normal decent people who were in remand for tax evasion. Most owing between 10k-100k and a lot of them were claiming welfare benefits whilst making money. Usually in for 6-18 months.

Stop talking out your fucking ass dipshit. If they catch you and prove you tried to defraud or lie. You will go to jail if you cannot afford an expensive lawyer (10k and up)

>> No.5738477

>>5734908
Why don't you Americans revolt against this?

>> No.5738479

>>5738379
>And then you need to prove how you got the fiat to buy the crypto
From a job, idiot.

>> No.5738492

>>5738431
You owe money on every trade

>> No.5738514

>>5738479
>>5738471

And then will ask you see the salary statements from your employer.

>> No.5738516

>>5738431
You made no net gains (or losses) so you owe nothing.

>> No.5738519

>>5738100
>it was introduced by a Democrat
Immediately proved wrong

>y-you’re a cuck

The absolute state of bootlickers

>> No.5738523

>>5738431
Just pay taxes on what you cash out and if you get audited, which most likely won't happen, go back and do that. You probably are dealing with peanuts anyways. It's not as bad as these people are saying it's just 30 year old fast food workers larping as tax experts to try and scare kids.

>> No.5738552

>>5738492
I fucking hate this world. How dare they all me to pay more in taxes than I ever had to begin with.

>> No.5738577

>>5737814
You sound like a FUDder, sorry pajeet. We know you guys tried to keep the price down to get in on this moon mission.

When will you ever learn

>> No.5738578

>>5738523
people should stop assuming we're dealing with peanuts. If you invest correctly it's quite simple to make a fat M or 2 if you have 10k right now.

>> No.5738590

>>5738431

you will not owe money. you do not owe money on every trade. you file either gains or losses on every trade. if at the end you have a net loss you can claim up to 3000 dollars of that on your return. anything more is pushed into the following year. if you have a net gain you will pay taxes on it according to your income bracket. you will not owe more than you made, that is not possible. jesus christ the state of biz.

>> No.5738610

I have no special qualm with paying income tax on crypto that I cash out and deposit into my bank account as USD as that is simply now income.

But what is this shit about trading within crypto being taxed? If I sit here and (for example) daytrade back and for between ETH and BTC or whatever, I have to pay tax for each trade, and then pay tax AGAIN when I withdraw the crypto as fiat? Please tell me this isn't true. It sounds crippling to day traders as I sometimes make 10 or 20 moves a day.

>> No.5738615

>>5738307
>tell that to wesley snipes
yeah like i said....
>the only people that go to jail are the millionaires/billionaires who blatantly evaded paying their taxes.

>> No.5738628

So cashing out for 1mil usd for short term capital gains is taxed at like 37percent?? Or is it not as simple as that

>> No.5738633
File: 112 KB, 1200x800, 1200px-Gadsden_flag.svg.png [View same] [iqdb] [saucenao] [google]
5738633

>>5738552
lmao all these over-night libertarians suddenly realizing that the government isnt the answer to everything. KEK

>> No.5738644

>>5738578
Well if you are cashing out millions then spend $50 to go consult an expert.

Either way if you at least report everything you cash out at least you aren't going to prison and worst case scenario will have to pay a small fine on anything extra they say you owe on audit.

>> No.5738658

>>5738628
It's not as simple as that. You'll eventually have to prove how you got to 1M. You have to show them all of your trades. Thus, why I made this fucking post. I should just be able to pay 37% and be done with it.

>> No.5738659

>>5738514
They can go for it then. My job is completely legitimate, and they would know this since they've been taking income tax from me based on those statements.

>> No.5738666

>>5738628
And let’s say this was based off buying railblocks once

>> No.5738672

>>5738431
>>5738461
>>5738492
You owe on the GAINS from every trade. This isn't a sales tax, it's a form of income tax. If you made money, you owe taxes on it. Nothing has changed except they closed a filling method people were using to get the long term tax treatment from short term trades.
The biggest implication of tax on crypto (which has always worked this way) is if you traded a 10X coin into btc, you will need to cash out 25% of that btc to pay tax on that gain.

>> No.5738681

>>5738610
just tax USD gains. anyone thats taxing crypto-crypto trades is a fucking idiot. the IRS is way too fucking busy to put everybody under a microscope. as long as you tax your income and USD gains you arent going to get in trouble.

>> No.5738708

>>5738672
no you fucking dont. technically you OWE tax on the crypto trade gain, but NOBODY IS EVER GOING TO FIND OUT. TAX YOUR USD CASHOUT GAINS. THATS IT

>> No.5738720

the irs literally audits a fraction of a percent of people making under 30 grand a year. you will not be audited. please stop posting this fud on this board like the irs has the funding to audit every neet using his tendie money to buy .00000000001 btc. if you have cashed out significant money (over 10k) and are not reporting it you may be fined, but they will not audit you. in all likelihood you will pay backtaxes and they will leave the burden of proof on you. that's how it works.

>> No.5738723
File: 110 KB, 300x223, 1511310500205.jpg [View same] [iqdb] [saucenao] [google]
5738723

>>5734908
Calm down buddy, just stop being american

Problem solved

>> No.5738732

you literally don't.

you pay taxes on net capital gains at the end of the year. Every trade being taxable just means that every trade contributes to that final amount.

>> No.5738733

>>5738659
Like how fucking retarded are you?

If you get a salary of $40k/year and suddenly cashout $500k in bitcoins to your bank account they will do an audit on you. You can't just claim that your $500k in bitcoin is from your job.

>> No.5738747

>>5734908
>implying I can't cash my coin into gold and move far away where I can live large tax free

>> No.5738755

>>5738672
Whats the difference between paying 37% of 100 trades, or paying the combined total of 100 trades then taking 37% of that.

Is the idea here so that even if you lose it all in the end by investing in a scamcoin, you still have to pay taxes on the times you did well, because "well you had it at one time, citizen"

>> No.5738757

>>5738644
if you cashout your gains then they dont have anything to audit you for since you paid your fair share of taxes.

>> No.5738775

>>5738755
yes

>> No.5738780

>>5738672
>You owe on the GAINS from every trade
No, you don't. You owe taxes on the net gains per year. "every trade is taxable" means that every trade counts to the final total.

>> No.5738789

>>5738733
and if you taxed that 500k in buttcoin then they WOULDNT BE ABLE TO AUDIT YOU.

>> No.5738790

you already had to report every trade. they're just spelling it out for brainlets.

>> No.5738803

>>5738633
oh .. my .. god.
How can burgers be that stupid.
I start believing it is the land of planned stupidity and obesity... "now, also on drugs!" YEA!

>> No.5738819

>>5734908
>we make hundreds of thousands of dollars from home every year just clicking "buy" and "sell"
>clearly a fucking stream of income
>don't want to pay taxes on it
if you're this stupid, go into something new and not yet touched by govt. if you invested in bitcoin in 2012-2014 you can afford an accountant

>> No.5738828

>>5738733
Your question was 'how are you going to explain how you bought those coins'.
I bought them with money from my job.
Or do you not understand
>>5737837
plan?

>> No.5738830

>>5738681
That's what I was planning on doing anyway. I'm not exactly profiting in the millions here anyway so the government can suck my fucking dick. I fund their niggerloving hug-a-thug welfare programs enough from my day job. No fucking way am I paying more than my standard income tax rate on my crypto gains.

>> No.5738858

also something that is never mentioned: if you are using binance to trade and are moving over 10k through it you need to file an fbar. at some point they will figure out what you're doing (assuming you're reporting your gains) and they will hit you with a massive (100k) fine.

>> No.5738867

>>5738819
If you knew how to read, it isn't that I don't want to pay taxes. I don't want to be forced to track every fucking arbitrary bullshit trade and then be FORCED TO CASH OUT TO PAY TAXES ON THEM.

>> No.5738877

>>5738789
It's not about taxing you fucking retard. The IRS is gonna ask how you obtained these coins. You need to show them notarized trading records and receipts. You can't just claim that you made $500k in bitcoin with trading AND NOT show them any proof. How else are they going to tell that your coins weren't obtained through drug trading, money laundering or other illegal means?

>> No.5738893

>>5736867
what do you support now? how do you make money?

>> No.5738894

>>5736983
Of course it was that Boulder-dwelling human cancer cell that added it to the bill.

>> No.5738897

>>5737138
I didn't vote for Trump because he's a retard.

I didn't vote for Hillary because she would've brought upon us a new dystopian age.

You're an idiot if you voted either.

>> No.5738915

>>5738755
There is no difference assuming you cash in and out in the same year but the accounting is performed at the point of trade. Negative gains are subtracted from positive and so on. Basically stocks have always worked this way, but people never complain because brokerages do the accounting for you.

>> No.5738916

>>5738828
>I bought them with money from my job.

>IRS:"Ah, so you bought $500k worth of Bitcoin with your $40k/year job??"

>> No.5738937

>>5738161
kek

>> No.5738946

>>5738858
>fbar
What is this Jewish shit I have never heard of. I just want to put some of my wage slave money into internet coins, watch it go up and down while paying wojaks on /biz/, and be reasonably certain I'm not going to become Jamaal's plaything

>> No.5738971
File: 72 KB, 600x315, salty.jpg [View same] [iqdb] [saucenao] [google]
5738971

Salt mooning in this thread

>> No.5738978

>>5735096
>Wrong
>Wrong
Wrong

>> No.5739007

>>5738016
>>5738016
>>Rep. Jared Polis, D-Colo.,
Literally just cucked yourself right there nigger. Like I said, introduced by a Dem but it had bipartisan support thanks to a Dem-Lite masquerading as a republican (which is most R’s in America).

Kys

>> No.5739026

>>5737073
pretty sure they can only tax you when you cash out into fiat.

i don't see how you could even correlate a USD value to pay taxes on otherwise.

>> No.5739060

>>5734908
I have 4k in ccrypto and no job do i have to file taxes

>> No.5739066

>>5739007
>dem lite
>being this delusional
top kek
If you think it's solely democrats at fault here you're seriously delusional and should kys with a rope

>> No.5739069

>>5738867
You will be forced to cash out 37% in order to pay for taxes. This is a fact. Unless the govt decides to start accepting tax payments in the form of bitcoin.

>> No.5739088

Lmao Trump was never ourguy to begin with. You're naive if you believe that. He's just another corrupt piece of shit.

>> No.5739119

>>5739069
It's bullshit. I'm never cashing out they can suck my dick if they want my money ill just lose my wallet and find it 10 years later

>> No.5739138

>>5738877
then all they would fucking need to do is look at my bank account statements, my coinbase history, and my binance history. everything would point to it being paid for out of my checking account, which is regularly funded with provable regular weekly paychecks from my legitimate job.

get fucked, im 100% in the clear bitch.

>> No.5739156
File: 37 KB, 1085x630, payupgoyim.png [View same] [iqdb] [saucenao] [google]
5739156

>>5739026
You would be wrong, and computers are pretty good at doing that kind of stuff.

>> No.5739187

>>5739156
but I don't pay taxes on my stocks I hold
I pay taxes on them if I sell them

>> No.5739242

>>5735691
bull, the law is not retroactive for 2017, only if you convert to fiat

>> No.5739259

so say I'm a miner.

I mine with a pool that "auto-exchanges" whatever is currently going to make the most profit for whatever coin I have chosen.

Do I have to claim both income and the value of the "trade"? All the rewards are grouped and exchanged in batch, with sometimes up to a full day between when it was mined vs when I'm payed.

Gayshit

>> No.5739275

>>5739187
True enough, but if you trade a stock for a stock, it works the same way.

>> No.5739292

>>5739259
yup

>> No.5739311
File: 94 KB, 700x367, D2148147-9DCB-4358-86BE-A10D3C8903D2.jpg [View same] [iqdb] [saucenao] [google]
5739311

>>5739088
Kill your self nigger. This whole fucking site would’ve been shut down for hate Speech if Hillary won by now

>> No.5739364

>>5739119
I agree anon.

Welcome to the libertarian party.

>> No.5739365

>>5739242
The law is from 2014, the new bill just clarifies the like-kind treatment which some people were supposedly getting away with and still requires accounting of every trade.

>> No.5739397

>>5739187
you'd pay taxes on a stock if you traded it for another stock. You don't pay taxes on coins you just hold.

When you buy $1000 worth of Bitcoin and it rises in price to now be $2000 worth of Bitcoin, you won't pay taxes, but when you trade it for $2000 worth of altcoin, that $1000 capital gains will be added to your yearly net capital gains total. You still don't owe taxes on that $1000 gain yet. Your $2000 worth of altcoin may depreciate in value, and you sell that altcoin later in the year for $1000 of bitcoin. That $1000 loss would be added to your yearly net capital gains. So you would be at $0 net capital gains and owe no taxes.

>> No.5739457

>>5739397
But still have to itemize those trades on your taxes

>> No.5739559
File: 68 KB, 227x254, adas.png [View same] [iqdb] [saucenao] [google]
5739559

>>5739311
KEK. Shit the fuck up /pol/

>> No.5739568

>>5739088
please explain how he's corrupt

>> No.5739608

>>5736473
it was a republican effort made bipartisan and some cunt made a bunch of threads on here and pol parading around the pet-democrat attached to it to make it (((bipartisan)))

>> No.5739696

>>5739568
It’s just the Shareblue CTR Shills fucking Up every thread with their 2cents a post bull shit like they do on every social media platform, non stop commercial campaign for the DNC , ball bags

>> No.5739737

>>5739568
>>5739696
>actually thinking all people involved in politics/rich people aren't corrupt in ways

top kek

>> No.5739750

>>5739066
>can’t refute
>being so un-nuanced in politics you actually believe the R and D next to there name implies anything
You’re beyond help.

>> No.5739778

daily reminder that these are shill threads by the government to scare people into paying taxes where they dont have to

>> No.5739815
File: 73 KB, 627x754, 2171BBE7-1975-4146-812D-0C23D6B20BD4.jpg [View same] [iqdb] [saucenao] [google]
5739815

WHAT DOES ITEMIZE MEAN

>> No.5739816

>>5737837
>>5739397
So my ZEC profit would be what ?
Based on the price of BTC at 2359 hours Eastern Standard Time , New Years Eve

>> No.5739825

>>5739750
>implying it doesn't
>implying politics isn't the same thing as gang warfare
>implying they aren't all morally corrupt paid shills
For all we know, dems wouldn't have even touched the 2017 tax bill and we would've been in the "grey area" still.

>> No.5739978
File: 41 KB, 500x371, 1513676772477.jpg [View same] [iqdb] [saucenao] [google]
5739978

>crypto
>over regulated
SECocolypse when

>> No.5739991

>>5739816
And what am I supposed to pay the taxes in Satoshi

>> No.5739995
File: 1.50 MB, 1905x1041, 1512845917662.png [View same] [iqdb] [saucenao] [google]
5739995

post your face reading this thread then realize you're not even american

>> No.5740120

>>5734908
ITT leftists whine about having to actually pay taxes for once in their miserable lives.

>> No.5740123

>>5739816
Or the price of what everything is in USD at the time of the trade ?

>> No.5740159

>>5734908
you stupid ass ignorant faggot. your trades cant be taxed if you keep them under $600. make all of your trades under that limit no matter how much you buy and you never pay taxes you stupid autist. kys

>> No.5740227

>>5734908
Already calculated tax on my crypto gains

don't fuck with the IRS

>> No.5740238

>>5740159
Yes I agree OP definitely is a Faggot and a shill

>> No.5740297

>>5740159
Isn't that crypto to fiat only?

>> No.5740299

>>5736669
an actually reasonable post

>> No.5740373

>>5738514
and you report those every year

>> No.5740379

>>5740120
Reddit will be in an uproar next election season. They will start finding congressmen.

>> No.5740547

>>5738916
no i bought X amount and the value increaced to XXXXX amount

>> No.5740548

>>5739737
please explain how he's corrupt

>> No.5740608

>>5739138
exactly

>> No.5740686

>>5740548
>wont show his tax returns
>collusion with russia
>his entire family is involved
I could probably keep digging for info but the whole not showing tax returns thing is literally screaming corruption. Shit ask half of the corrupt niggers in biz to show their tax returns and they wont do it. Corrupt people hide things. Corrupt people deflect.

The only thing I can say is, thanks for lowering taxes for rich people because I'll be in that bracket pretty soon. :)

>> No.5740695

Whole board doesn't know unrealized capital gains vs realized kek. Get bent faggots

>> No.5740775

>>5740695
That doesn't matter in 2018 anymore. They can tax your "unrealized crypto to crypto gains" and force you to cash out to pay those gains.

>> No.5740870

It's okay anon, this will help me stop making bad day trades. I can finally learn how to hold. Hooray for overregulation :-)

>> No.5740878

>>5740297
no you fucking idiot its crypto to crypto

>> No.5740885

Buy Monero
Move to paper wallet
Bury the key in the woods

Tell the IRS to fuck off

>> No.5740907

>>5740878
source?

>> No.5740920

The ammount of IRS shills on this board is funny.
Hey IRS I know you are spreading FUD because you know you cant actually collect.
Get fucked.

>> No.5740930

>>5740686
> it's corrupt to exploit legal tax loopholes
No, it isn't. It's perhaps bad PR in a political race when you're dealing with pro-tax cucks. You're here complaining about the alleged closing of a loophole for crypto, but complaining about Trump's taxes.

The reason why the crypto loophole and others are being closed is because pro-tax demcucks like you have been demanding they be closed because it's "corrupt" that they exist.

>> No.5740933

>>5740907
literally the new tax fucking bill

>> No.5740968

>>5735685
Literally not true. You guys need to stop parroting this. You pay taxes on the GAINS of each sale. So you cash out shitcoin x to bitcoin, you pay the gain. Then btc to fiat, there is no gain since you held that shit for minutes, so taxed once.

>> No.5741019

>>5740968
thanks mom

>> No.5741030
File: 42 KB, 473x477, 1267295129682.jpg [View same] [iqdb] [saucenao] [google]
5741030

>tfw I trade on Binance and so am 100% safe

>> No.5741032

>>5740930
>quoting something i never said
>strawman
Right dude, keep thinking that being the first president to not show his tax returns is because he ISN'T corrupt, top kek m9.

I'm not complaining about trump using loopholes, I'm saying he's obviously hiding something, and thus corrupt. People that have nothing to hide are usually not corrupt. Trump probably isn't a billionaire. Nigger lies about everything.

>> No.5741072

>>5741032
Of course somebody who spent their entire life in politics has no problem showing taxes compared to a business man. Nobody cares but La Raza spics.

>> No.5741119

>>5734908
Bitflur.com

>> No.5741123

>>5734908
BUT CRYPTO IS DECENTRALIZED
THEY WILL NEVER BE ABLE TO CONTROL IT
IT'S DECENTRALIZED GUYS

>> No.5741146

>>5741072
Oh so now it's because he's a "businessman" that he shouldn't show his taxes?
>implying almost every president wasn't a businessman in some shape or form
>implying that exempts you from scrutiny
>implying it isn't shady as fuck

>> No.5741157

>>5741146
Nobody cares, paco.

>> No.5741177

This is what you get for using coinbase lol

>> No.5741221

>>5741157
>can't refute
Got it. I'm whiter than you are you stupid nigger. Keep falling for fake /pol/ redpills and conspiracies. You live in a fake world ruled by fake people.

>> No.5741274

So if i make 1000 automatic transactions... i will have to notify the government about them?

>> No.5741279

>>5741221
> can't refute
> can't refute my unverifiable claim of corruption
The auditors have found nothing, paco.

>> No.5741346

lmao the tax bill didn't change anything. crypto/crypto trades weren't like kind before, the IRS has been clear about this.

Also

You aren't paying taxes twice on your gains. If you cash out to ETH and then the ETH appreciates before you convert to fiat, those are new gains.

/biz/ should do some research. pay your taxes.

>> No.5741362

>>5741279
You can't even logically or rationally make a decision for yourself and rely on people redpilling you on politics to shape your entire worldview. You couldn't call a spade a spade if your life depended on it. You're a fucking roach. Stay poor faggot.

>> No.5741451

>>5736919
Fucking retard, having to pay taxes on every trade versus just standard capital gains tax is not one's "fair share", it's getting raped in the asshole by 15 dicks with no lube. They're doing this to fuck over poor people and keep crypto in the control of banks. It's fucking obvious.

>> No.5741484

>>5737605
yes it does you fucking retard net neutrality is needed BECAUSE there is no telecom free market

>> No.5741491
File: 219 KB, 528x374, feels good cunt.png [View same] [iqdb] [saucenao] [google]
5741491

>>5736669
>>5734908
>tfw aussie
https://www.ato.gov.au/General/Gen/Tax-treatment-of-crypto-currencies-in-Australia---specifically-bitcoin/

>> No.5741517
File: 33 KB, 456x434, 1493701788481.jpg [View same] [iqdb] [saucenao] [google]
5741517

AHHHHHHHHHH WHY WON'T THE NORMALS LEAVE ME ALONE THEY MAKE MY LIFE HELL AND IF THEY CATCH ME TRYING TO MAKE IT OUT OF THEIR PIT OF DESPAIR THEY COME AFTER ME

>> No.5741523

>>5740686
>won't show his tax returns
legal, and not corrupt
you could argue that exploiting tax loopholes is corrupt, but then you take a look at the tax cuts that he's implemented
the dude dislikes taxes
can't say I disagree

>collusion with russia
literally a forced meme
the dossier was completely fake, and was funded by the clinton campaign
just because trump doesn't want to overthrow putin doesn't mean that he's their puppet, or that they're even in contact—let alone that they were working together to steal the election
the democratic establishment was keeping illegals in the U.S. to vote for their monumentally shit clinton comeback, and the republican establishment nominated trump with the intention that he would lose
he knew that they thought that he'd lose
it was a crucial move in his game of five-dimensional chess, and it paid off beautifully
>his entire family is involved
elaborate
trump jr. had a canned honeypot meeting with a lawyer who was a russian citizen who was visiting the u.s.
the trump family is not a mob, they don't act like one, and they're certainly not evil

>> No.5741684

>>5741523
>legal and not corrupt
>not corrupt
Hahaha oh wow you're so fucking retarded it hurts. Yes the first self proclaimed billionaire president that doesn't want to show his taxes and is also under multiple investigations isn't corrupt. Right. Hahahaha the absolute state of echo chamber /pol/tards.

>collusion with russia is a meme
>being this delusional
People like you are the reason why this country will fail.

Wait til he gets impeached. I'll be shitposting like no other.

>> No.5741904

>>5737838
I tend to agree with this. For all we know, this could be something that completely blows away in a couple of years. Imagine the field day the government is going to have trying to explain to normies that their Bazingacoin gains are unrealized. This is a move meant to drive the market towards centralization, something I think consumers will inevitably reject.

>> No.5742029

>>5741491
So how do Aussie crypto taxes even work? From what I can tell, you only need to keep track of transactions that involve bitcoins (and not other crypto), provide the sender address if possible (meaning exchanges that don't let you see the send address are a viable option), and keep track of the cost at the time you brought it and the time you cashed out - and then you only get taxed on it if it puts you over the flat tax amounts (like 75k to actually start being taxed in the first place, as an example)?
t. Aussie who has a bunch of money in bitcoin but literally never cashed anything out

>> No.5742046

>>5736473
not surprised. gotta feed 8,000,000 illegal migrants on my dime at a time when we can't even afford more than 1 child.

>> No.5742090

>>5736774
retarded ass, leave this board and never come back.

>> No.5742103

>>5736891
You are losing grip on reality, sober up and be more realistic.

>> No.5742124

>>5736983
thanks degenerate slime.

>> No.5742160

>>5736985
it's not cute for you to say honey when you're obese.

>> No.5742171

>>5741684
you're not substantiating your arguments
pointing out that trump is a billionaire does not at all validate your, or anyone else's claim that he is corrupt
being wealthy is not equal to corruption, despite what the establishment and every multi-billion dollar software company would have you believe
get the fuck off /biz/, you fucking communist

please elaborate on why you believe that the collusion with russia is anything but a forced meme at this point
why am i delusional
why will the u.s. fail if there are people like me
what should the u.s. be

>> No.5742201

>>5734908
libfag prob told all his friends during circle jerk that trump tax cuts would cause homeless black lesbians to die in the street, then he made $200 in crypto

lay down and never get up

>> No.5742223

>>5736985
pre-obama there were no neutered nets, and look how far that got us. Drumpkins btfo.

>> No.5742276

You're only taxed for any coins bought or sold with USD. BTC and ETH pairs you don't have to worry about, you're just "trading stuff" like trading pokemon cards. Tether also is not USD.

>> No.5742288

>>5737571
hilarious. we need to have an exodus of >>reddit

>> No.5742358

Most of you don't have 20k+ to cash out into fiat in a calendar year. I don't plan to. Net effect, taxing this shit will be a positive since it keeps whales in the game for the long haul as opposed to cashing out their entire collective stacks, else they whacked with crypto taxes. Prevents the massive cashening from happening because we all know exchanges don't have 1:1 fiat for all your gains.
>>5734908
Go fuck yourself OP

>> No.5742385

>>5742171
>pointing out that trump is a billionaire does not at all validate your, or anyone else's claim that he is corrupt
Pointing out that he's simply the first "billionaire" president that absolutely REFUSES to show his tax returns, in fact, shows that he is hiding something, and thus is shady/corrupt because there's dirt that could ruin him. It's quite simple logic. If you can't understand that and keep resorting to strawman arguments I'll just stop responding.

>being wealthy is not equal to corruption
Never implied that, thanks though retard.

>please elaborate on why you believe that the collusion with russia is anything but a forced meme at this point
Because there's actual evidence? Because Russia has been infiltrating the US since the moment they could? Because Trump is a fucking pushover faggot even though you think he's the best businessman in the world? They're 20 steps ahead of us in terms of social engineering, they're literally controlling half of the population at this point, and people like you are falling for it. Next thing you know, we'll have nuked NK and played right into Russia's ultimate plan. Giving them a reason to retaliate and ultimately destroy us before we can react.

>> No.5742423

>>5738803
oh also all of the media and video games and music you consume. suck our collective cock like you already do.

>hates America
>imports millions of arabs and africans because he wants to be like us so bad
>everyone gets raped

nice one.

>> No.5742449

>>5742385
If he DID show them, you'd all just say he had hidden corrupt shit in offshore accounts. Showing his returns accomplishes nothing.

>> No.5742468

>>5741123
fucking idiot, leave the board. that's not the same as being able to see trades on open exchanges.

>> No.5742480

>>5736983

this is not true

>> No.5742502

>>5742480
you're lying

>> No.5742526

>>5742449
It accomplishes everything. If he shows them, and they are what they should be, and relative to his actual worth, then the show goes on. Offshore accounts or not. That's a loophole every rich person uses.

However, if he doesn't show them, he will always be seen as a shady liar/corrupt person. Not only that, but if we eventually find out that he IS corrupt, he gets fucked even more. It's a lose lose, which is why we'll never see them.

>> No.5742538

FAGGOT TRUMP most selfish and stupid mother fucker around. Only thinking about how he can get his parties pockets fatter with taxes. He's a true slimeball and you dumb inbred rednecks voted for him. Kill your selves, i'd knock your bitch asses out if i saw you neckbearded faggots.

Act like i'm gonna pay every tax on every trade, they can suck my dick. Yea they are really gonna come after every poor cryptofag and make sure EVERY trade is paid for HAHAHAHAHAHFAGGOT.

>> No.5742542

I thought Trump did show his tax returns?

>> No.5742555

>>5742526
>However, if he doesn't show them, he will always be seen as a shady liar/corrupt person
Only to spics, who we don't care about.

>> No.5742567

>>5742502
Nah a republican is equally part of the reason why that shit got added. And then republicans as a whole are at fault because they're passing the bill.

>> No.5742618
File: 2.90 MB, 200x200, hehok.gif [View same] [iqdb] [saucenao] [google]
5742618

>>5742555
hurr durr good one what are you fucking 12?

>> No.5742643

>>5742618
> good one
It is. You being a vile fucking spic is very relevant.

>> No.5742687

>>5742643
I'm probably whiter than you'll ever be. You probably have mutt genes, faggot. I'm Aryan as fuck.

You have nothing, I can tell. Get fucked.

>> No.5742694

suk your pussy bitch

>> No.5742719

>>5742687
The auditors have nothing, paco. Your claims are debunked.

>> No.5742748

>>5742719
Nothing is debunked. You're a stupid nigger kys

>> No.5742748,1 [INTERNAL] 

>>5742385
you are deliberately bringing up the "fact" that he is a """so-called""" """""""""""""billionaire""""""""""""", over and over and over and over and over again
excuse me for getting the wrong impression—but, it seems as though it is something that you actually do take particular issue with

to be perfectly honest, you seem like a very abrasive motherfucker
i mean, i've really been trying to be nice to you here, but all you've been doing is repeating the same ambiguous bullshit about his tax returns—as if there would be anything incriminating to the point of "ruining" him in them anyway, which you clearly assume—and the absolute joke that is the "russian collusion scandal", and calling me a retard that's falling for some russian ploy, as if the russian government is the institution that's riddled with fucking globalists

i knew a kid like you in high school
he was fucking unbearable

you harp on and on about his tax returns, like anyone else that has the ambiguous idea that trump is going to destroy the united states
your explanation of russia's ultimate goal doesn't make a hint of sense; the united states has waaaaaaaaaaaaaaaaaaaaaaaaay more military power than russia, distributed across the entire planet
they have no reason to attack the u.s.—unlike north korea, which has been growing its military for ages, has clear disdain against the united states, and has very little to lose
as repulsive as it is, their own people are probably begging for a u.s. nuke to come and end their relentless misery
hence, *one of* (and only *one* of) the reasons for the apparent enthusiasm to join the military from north koreans
but, getting back to the previous point—if the u.s. and north korea go to war, i really cannot see russia launching strikes against the united states
in case you haven't noticed, trump hasn't been overly complacent with anything soros-backed
in fact, (((they))) probably hate him, if only for the fact that he's halted (((their))) progress for—at the very least—four years

i haven't bashed any strawmen here
i would say that i never said that trump was the greatest businessman in the world—or anything even related to that—but, you'd complain again about me calling you a filthy fucking communist
and you are a filthy fucking communist
nobody who wants to hold any wealth at all would so strongly call out a president for not wanting to pay taxes—especially after he has, and i emphasize, *so clearly demonstrated that he is for reduced taxation, and smaller government*
like, dude—why would anyone take you seriously
you spout nonsense, and act like a prick while you do it
you're repulsive
fuck—i feel like an idiot for sitting here and writing this, but i've been sitting around all day, and it's driving me up the wall

next time, i request that you present something to go off of in the way of evidence to back your claims
like, anything—even a washington post article, just to at least avoid making an ass out of yourself by calling everyone else a retard, and then not presenting any fucking evidence to back your fucking claims
present actual fucking evidence to back your fucking claims
you weren't writing well-written responses
at worst, you appeared to be a true shill, meant to manipulate the opinions of a wave of wealthy people coming from 4chan
at best, you appear to be just another fucked person, unloading their stupid shit anger on here
and yet, i wrote a whole response about you, senpai...