How will you avoid paying taxes on your massive crypto gains

[Anonymous No.20629292]

For all US annons out there how will you avoid the IRS robbing you from your massive amounts of money you will have because of LINK? Don't want to give up my US citizenship but I also don't want the government stealing 20-40% of my loot

[Anonymous No.20629445]

>>20629292
Nice sting operation faggot.

[Anonymous No.20629474]

Nice try, pay your taxes good goy

[Anonymous No.20629492]

>>20629292
Pic is who your tax dollars are gona go to if you pay up

[Anonymous No.20629534]

>>20629445
>>20629474

No, my shekels are my own you Juden

[Anonymous No.20629537]

this post was typed with bioluminescent hands

[Anonymous No.20629590]

>>20629537

No, glowies would want you to pay up to fund their useless bureaucratic salaries

[Anonymous No.20629707]

>>20629445
>>20629474
>>20629537

You retards realize there's a difference between not paying your taxes and avoiding them through legal means. Hence how every rich faggot in this country gets around paying the majority of what they owe somehow

[Anonymous No.20629754]

>>20629292
Can I get some legit advice from atty/acct anons? I have no idea what I've traded. I've used a bunch of DEXs and what not. I know how much I bought in at with fiat and what I bought. Will the government freak out on me if I, in my attempt to be honest and pay my full share, just convert back to my original purchase coins and cash out that way? Do I really need to painstakingly try to figure out every single trade? Can I just do a FIFO on the original purchases as my basis and then take zero basis for all coins in excess of my original purchases? Will they try to fuck me? Because I have no idea. I have some trades done on US exchanges, but a bunch on non-US CEXs and DEXs. Totally do not want to evade taxes, but no idea how to do trade details in depth.

[Anonymous No.20629801]

>>20629754
From what I know you only need to pay capital gains on crypto you convert to USD and send to your bank account. Someone can correct me if I'm wrong though

[Anonymous No.20629928]

>>20629801
You're wrong.

[Anonymous No.20629944]

>>20629928
Explain then

[Anonymous No.20629987]

>>20629944
https://www.irs.gov/irb/2014-16_IRB#NOT-2014-21

Every trade between cypto recognizes either a gain or loss.

[Anonymous No.20630002]

>>20629292
Sorry agent shaniqua, but I lost all my linkies in a tragic boating accident.

[Anonymous No.20630008]

not cashing out
I still hold my first bitcorn from 2012

[Anonymous No.20630016]

These thread glow so hard. We know u observe this board mr tax man.

[Anonymous No.20630081]

I never want to contribute to niggers either.

[Anonymous No.20630166]

>>20629987
If you actually read what you posted the IRS notice only describes if you purchase goods or services with crypto or receive payment for goods and services with crypto. If you leave your shit on coinbase and don't use it to purchase anything it won't be taxed. Also it's a capital gain if you buy crypto and then sell it when it's value increases.

TLDR: you're a retard

[Anonymous No.20630292]

>>20629292
you can’t really escape that, they will take their share of your linkies just make it smaller by holding long term (one year+)

[Anonymous No.20630311]

>>20629292
Do any exchanges not report your gains to the IRS?

[Anonymous No.20630340]

>>20630292
I figured... I don't want them to have any of my stinky's!

[Anonymous No.20630357]

>>20630311
yeah, uniswap

[Anonymous No.20630362]

>>20630311
i suppose the us army would have to invade malta and gun point cz

[Anonymous No.20630417]

>>20629292
The IRS is so retarded they haven't even figured out how to tax crypto
Just avoid converting to cash as much as you can and let them figure it out

[Anonymous No.20630431]

>>20630311
They only report crypto to cash and crypto to crupto transactions I think

[Anonymous No.20630456]

>>20629292
>implying the IRS follows through on investigations

[Anonymous No.20630460]

>>20630417
Then how am I supposed to buy my plaid painted Lambo if I can't convert to USD!?!

[Anonymous No.20630519]

once Visa accepts crypto as payment you can just use it to spend on things..there will be no taxes

[Anonymous No.20630603]

>>20629292
Kill those pathetic npcs inside the irs office in minecraft

[Anonymous No.20630916]

>Legally
Create LLC held by S-Corp
Get Trader Status
Convert capital gains into other long-term held assets (gold, real estate, stocks, bonds, etc)
Pay yourself a small salary
Deduct as much "business" expenses as possible (vehicle, house, phone, etc) to offset tax burden
Become involved in tax advantaged businesses to receive tax breaks on remaining gains

>Less legally
LocalBitcoin/LocalMonero
Bitcoin->Paxful->Gift Cards->Flip products on CL/Ebay
Purse.io->Flip products on CL/Ebay
Various websites where crypto is accepted
Start an e-business and pay yourself with tumbled crypto gains
Buy drugs on the dark web and resell in RL
Cash out through a gambling website and report money as gambling profits
Don't file taxes until you've "made it" and then pay back taxes with all your gains

[Anonymous No.20631039]

>>20629707
that’s a meme perpetuated by liberal/socialist politicians to get their poor retarded voting base riled up against the evil rich people. in reality rich people pay a lower tax rate because they make their money through investments and long term capital gains rate is 15%. you can also create an LLC and write off some expenses, donate to charity, etc but none of that shit will make a dent compared to just holding your linkies for at least 1 year and cashing out in a state with no state income tax. unfortunately biden is probably going to win and he will likely jack up the capital gains rate so your only remaining option will be to move to puerto rico

[Anonymous No.20631115]

>>20630519
once we have flying cars you can just fly places in your car

[Anonymous No.20631193]

>>20630002
>anon your bank reported that you deposited $777,777 into your account would mind telling us where that came from?
>>20630417
they have though. crypto trades are taxed exactly like securities. every trade is a taxable event with a profit or loss. any exchange with a fiat on ramp (coinbase, gemini, etc) reports your trades to the IRS. you can try your luck and not report but they can audit any time up to 7 years into the past and if you ever withdraw any substantial amount ($10k+) from coinbase that gets reported by your bank.

[Anonymous No.20631224]

>>20630916
Honestly if your in the united States and you make a bank deposit under 3k per week NOT TWICE OR THREE TIMES A WEEK JUST ONCE
then neither the bank nor irs will chase after you. Anything higher and a sars report is automatically generated.

Extra insurance:
Space out your deposits and keep them small. Use a free payroll software off linux to create fake payroll deposits under a legit or bogus business name. Then deposit.Business account, checking whatever. Just keep it under $3,000 and you could do this for years. Its best to have the deposits look legit so $1800 every week or 2 weeks.

>7yrs in banking

[Anonymous No.20631339]

>>20631224
Anything >$20,000/yr from a KYC exchange is reported to the IRS, and probably even less than that. You don't know what you're talking about.

[Anonymous No.20631357]

>>20629754
I'm on the same boat and I have no idea what to do lol

[Anonymous No.20631472]

On an unrelated note, my uncle from Russia got rich buying monero at $0.40 and decided to send me xxx amount of xmr for my birthday. Do I have to pay tax on that if I convert to USD immediately?

[Anonymous No.20631494]

Borrow against your crypto instead of cashing out. No taxes, unless you get liquidated, which is essentially loan forgiveness. That’s income.

[Anonymous No.20631525]

>>20631472
>my uncle from Russia

Kek

[Anonymous No.20631526]

>>20631472
You have to pay on the value of it (over 10k(?)) as income. Gifts up to a certain amount are not taxable.

[Anonymous No.20631542]

For those who have made massive gains and have been lazy listing down every transaction like most, tokentax is the best crypto tax software I've ran into so far.

[Anonymous No.20631621]

>>20631494
can you explain more for a brainlet?

[Anonymous No.20631634]

>>20630431
oh so every transaction?

[Anonymous No.20631665]

>>20631526
But based off googling “gift tax 2020” it says that I don’t have to pay taxes at all til I hit the $11MM lifetime gift exclusion limit. Is there something I’m missing?

[Anonymous No.20631761]

>>20631339
Who keeps 20k+ on an exchange?

I just said not to cash out more than 3k.
If you can't read I get it, but don't talk nonsense.

[Anonymous No.20631763]

>>20630166
>Also it's a capital gain if you buy crypto and then sell it when it's value increases.
Exaclty, who the fuck has the entire history of every crypto trade they've made over the past 4 years across who knows how many dexs, exchanges, and swaps many of which may not even exist anymore.

[Anonymous No.20631825]

>>20631621
Coinloan
Blockfi
SaltLending
etc

Use borrowed funds to make more money, pay back loan, recollect appreciated collateral. rinse, repeat.

[Anonymous No.20631826]

>>20631193
>not trading exclusively on chinese exchanges

[Anonymous No.20631886]

>>20629292
So what the fuck am I supposed to do if LINK actually moons like every retard on this board is claiming it will do and my 5,000 Linky's are worth $50,000,000? I'm a smooth brain and literally have no idea what to do. I just bought them cause of the memes

[Anonymous No.20631925]

>>20631634
No, based on my 10 second google search cash to crypto is not reported

[Anonymous No.20631970]

>>20631761
If you pass more than $20k through a KYC-compliant exchange within a year, they are required by law to report these transactions to the IRS. That said, it's likely that places like Coinbase over-CYA their KYC practices.

Hand deposits of cash into a bank account are one thing, and do have different thresholds for triggering internal investigations. That said, fraud is no laughing matter and what you suggested about fake invoices etc is patently stupid. Much better ways to cash out anonymously.

[Anonymous No.20632044]

>>20631970
Please tell us then cause my net worth is the highest it's ever been cause of LINK

[Anonymous No.20632080]

>>20631763
I'm pretty sure Coinbase at least does when they send you a tax form every year

[Anonymous No.20632095]

Get cash for expenses using bisq keep the rest of my gains in bitcoin

[Anonymous No.20632098]

>>20631886
If you want to cash them out all at once without paying long term capital gains tax, it's probably better to hide/tumble the assets, and go through expatriation and create a low-no tax citizenship through a Caribbean country like St Kitts or St Lucia, and be a non-tax resident within another country like Portugal, so that you end up paying virtually no tax.

Otherwise, if you want to stay American/UK/etc, then get a lawyer and CPA to create a business structure that helps shelter the gains from tax burden and realize them slowly into fiat over the course of years.

[Anonymous No.20632125]

>>20629292
Move to Puerto Rico, or claim your religion does not allow you to pay taxes.

[Anonymous No.20632132]

>>20632044
See
>>20630916

[Anonymous No.20632164]

>>20629292
Fuck you FBI

[Anonymous No.20632188]

>>20629492
>the Concerned nigress podcast

[Anonymous No.20632199]

>>20630311
crypto.com

[Anonymous No.20632207]

>>20631970
Can you provide ways to cash out anonymously then for those over 20k. Also its not fraud if the business is legitimate. It's less than $50 to get your articles of organization including the gas trip. Sole prop is what $20, even then im assuming most with a lot of funds will diversify into other purchases like gold and real estate

Paying yourself out through the business is a valid option. I have no experience in exchanges themselves though I can tell you the bank isn't going to lose shit over such tiny amounts being deposited.

[Anonymous No.20632294]

>>20632125
>this

Puerto Rico is cheap as fuck. Just save up enough to hold you over 7 months and cash out paying 0% capital gains tax. You should also talk to a tax attorney and accountant to make sure everything goes smoothly and you don't have to worry about the IRS auditing you.

[Anonymous No.20632325]

>>20632294
So all I got to do is live in Puerto Rico for half a year and they can't touch me? Sounds too good to be true

[Anonymous No.20632364]

>>20629292
Set up a Holdings Company in Ireland (you can do it online).
Set up a corporation and bank account in Panama.
Register a S-Corp in deleware as a "consultant" pay yourself modestly from your trades.
The company you consult is a crypto speculator based in Panama, that answers to a Holdings company in Ireland. Just make sure you bank in Panama, and pay through Irish company.

[Anonymous No.20632374]

>>20632325
I think it has to be a year, then after that you need to spend at least 6 months each year on Puerto Rico in order to take advantage of the no tax on capital gains. Unironically I'd bet a bunch of /biz/raelis have/will do this and one of us is bound to have a yacht by then

[Anonymous No.20632384]

>>20632294
I can't wait in a few years to to see all my fellow NEETs autists who got rich from LINK living in Puerto Rico! What strip club do you want to meet up at guys?

[Anonymous No.20632402]

>>20632384
We should have a conference at a hotel before meeting each other

[Anonymous No.20632412]

>>20629292
Nice Try FBI. I paid my taxes.

[Anonymous No.20632416]

>>20631039
The second the long term capital gains rate is raised I am leaving the US. It’s one of the many reasons why I will never vote left wing for the rest of my life

[Anonymous No.20632441]

>>20632416
I'm prepared to leave the country and go to Belize. They have zero capital gains tax too. Marry a woman there, then become a citizen. Pay her 500k then divorce her

[Anonymous No.20632457]

>>20632402
How bout a conference room in a strip club?

[Anonymous No.20632487]

>>20632207
see
>>20630916
>>20632098
>Also its not fraud if the business is legitimate. It's less than $50 to get your articles of organization including the gas trip. Sole prop is what $20

Depends on state, generally costs $100-500 to register a business LLC, S-Corp is similar amount on top of that.

>Use a free payroll software off linux to create fake payroll deposits under a legit or bogus business name. Then deposit.Business account, checking whatever.
That's fraud, my friend. You'll compound that by documenting the fraud if ever there was an investigation by tax authorities.

>Paying yourself out through the business is a valid option.
Using untaxed personal capital gains money to "buy" hot dogs from your "hot dog stand" is money laundering and tax evasion. Which is stupid because then you have to pay taxes on that money anyway.

The best way LEGALLY is simply to either cash out through an actual dedicated trading business, or less legally through sketchy gift card and crypto sites. Barring that, if you have 6-7+ figure crypto amounts and you want to make a life of this, internationalize your affairs and repatriate yourself to a tax haven country and countries with low-no taxes for foreign residents.

[Anonymous No.20632496]

>>20632457
It's too shady of a location. We need to vet each other and verify that we're anons who made it with LINK.

[Anonymous No.20632513]

>>20632325
I used to work in Puerto Rico. Get ready for routine power and water outages, and not getting caught out after dark unless you're in San Juan or a resort area.

I would not want to get stuck in PR in the global shit show.

[Anonymous No.20632590]

>>20632513
That's why we're better off moving to Belize:
>zero capital gains tax
>close to the U.S.
>can fly back to the states with a few hours
>amazing beaches with crystal clear waters like in the bahamas
>easy to grow fruit and vegetables
>climate is pretty good
>plenty of water and rain
>super low cost of living

[Anonymous No.20632683]

>>20632590

Belize is not a good place to live as a rich white guy. You can also live cheaply in the niggerest ghettoes of Chicago, but you wouldn't want to.

>t. guy who worked overseas a lot, including Central and South America

[Anonymous No.20632727]

>>20632590
Belize is actually pretty expensive and caters more to retirees in their CBI program. St Kitts, St Lucia, Dominica and other Caribbean countries are better for what you're looking for. Also, just FYI, I believe most travel from Caribbean is not visa-free to the US, so keep that in mind.

[Anonymous No.20632774]

>>20632683
How about Ecuador or Chile?

[Anonymous No.20632920]

If you want to be a crypto trader who keeps most of his gains from the tax man, you either need to:

A. Create a US corp tax structure such that you can deduct most of your personal expenses as business expenses and take advantage of tax incentives to defray the actual capital gains you receive, minimizing your tax rate to the neighborhood of 10-21%.

or

B: Expatriate yourself and take citizenship in a country with little to no taxes who still has great visa-free travel to locations of your desire and take non-tax residence in yet another country thereby paying almost 0% taxes yearly.

or

C: Realize your gains slowly, less legally, through shadier channels while maintaining a front as a non-crypto trader.

[Anonymous No.20633039]

>>20631826
>implying you can cash out on ccp banks

Anon,I...

[Anonymous No.20633049]

>>20630460

Directly with crypto brainlet

[Anonymous No.20633070]

>>20632513
The only good area is Dorado Beach

T. PR fag

[Anonymous No.20633081]

>>20632774

Chile yes, but it's not really that much cheaper than some places in NA. Fucking beautiful country though

The Ecuadorean government is surprisingly assholish to foreigners, or at least they were to me. I guess I had a lot of Colombian stamps on my passport and those guys don't get along, but still.

>>20632920

One thing I'm looking into is collateralizing loans using crypto as security. That might allow you to have the full amount of cash right away (minus interest), and then actually dispose of the crypto in increments to pay the loan. In theory, it should minimize your tax hit, but I need to talk to an accountant about commodity-secured loans

[Anonymous No.20633152]

>>20631665
Can someone knowledgeable in this shit plz confirm or deny?

[Anonymous No.20633246]

>>20633081
What I've seen is that you have to overcollateralize loans in crypto, best rate I've seen is 70% loan to crypto value ($700 loan, $1000 collateral) + interest%. In theory, if you believe your underlying assets (let's say ETH) will appreciate during the loan term, then you can use the loan money to speculate, collect profit, then pay back loan and be up on your collateral and the speculation profit.

Conversely, I suppose if you felt your collateral would tank, you could never pay the loan back and let them eat the loss on depreciation. Not sure of course how much KYC goes into this and thus affect your credit score.

[Anonymous No.20633269]

I traded slightly in 2017 but it was mostly putting money into LINK from ETH and NEO gains. Since then I transferred nover everything into my wallet and bought more on coinbase throughout the last two years.

Am I gonna be fucked when I cash out LINK at 100? I tried looking at old exchanges and there's literally no information on my trades from 2017 and 2018. What am I supposed to do?

[Anonymous No.20633368]

>>20633269
>consulting /biz/ on how to report federal "pound you in the ass" penitentiary crimes
>not consulting a crypto specialist CPA
Uh, my best guess is you pay long term capital gains tax on them once you convert to fiat through an exchange like Coinbase, who will send you the necessary tax forms at the end of the tax year in which they were realized.

[Anonymous No.20633386]

>>20633246

The math'll be interesting, for sure.

[Anonymous No.20633589]

I paid my taxes for last year and it was over 1300 transactions. When I pay it this year it will be double. If they wanna comb through it, good luck but I don't they'll devote the man power. And even if they do, I make a good faith effort.
Bottom line, if you cash out through coinbase, they know. Too late for me.

[Anonymous No.20633593]

I was thinking of using one of those bill payers to make regular payments to my bank account and if the government ever audits me and asks whatsup i'd just say someone was paying me rent in crypto. Only problem is this'll only get me like 50k per year. Tax free though.

[Anonymous No.20633601]

Lmao I love how you losers think you’re gonna get rich off LINK. That shittoken already mooned and it’s only being hyped because of 24/7 to normies entering crypto. You Guys are gonna get dumped on so hard back to 1$ stinklink

[Anonymous No.20633741]

>>20633368
Yeah but how do I prove that I bought 25k ChainLink at 2017/18 prices when all the exchanges don't have that info.

[Anonymous No.20633853]

>>20633601
Ok cool. Still never selling

Now kindly do fuck off

[Anonymous No.20633865]

>>20633601
I smell fear

[Anonymous No.20633875]

>>20633741
If you can't, you pay taxes on the whole amount.

[Anonymous No.20633942]

>>20633875
Fuck might as well. I probably spent only like 5k on my entire bag so it's worth not getting fucked

[Anonymous No.20634004]

Hahahahaha Link only went up because of constant shilling by the community. That’s the only reason that shitcoin went up in the first place. Future tech will solve the oracle problem and bring you back to sub 1$ range.

[Anonymous No.20634021]

>>20630460
holy shit you're restarted, do your self a favor and get off this board.

[Anonymous No.20634060]

>>20634004
Awesome man can't wait! Still will never sell. My posterity will receive all my Linky's as inheritance whether they're $0.01 or $1,000,000

[Anonymous No.20634071]

>>20634021
I think you mean *retard. Which a prime example would be you

[Anonymous No.20634133]

>>20633039
you don't cash out of the chinese exchanges, you trade in them exclusively so that coinbase doesn't report all of your trades.

[Anonymous No.20634150]

>>20634004
>future tech
What the fuck is Link then you retard?

[Anonymous No.20634590]

>>20629292
it's not as bad as you think if you hold for more than one year. you'll never escape the IRS. just go to an accountant before you are ready to cash out and they will spoonfeed you everything you need to do.
pay your taxes. kikes need your money to feed their nigger golem.

[Anonymous No.20634605]

>>20630166
If you actually read what I posted, you wouldn't have made yourself look like a slackjawed retard.

>For federal tax purposes, virtual currency is treated as property.
>Does a taxpayer have gain or loss upon an exchange of virtual currency for other property?
> Yes. If the fair market value of property received in exchange for virtual currency exceeds the taxpayer’s adjusted basis of the virtual currency, the taxpayer has taxable gain. The taxpayer has a loss if the fair market value of the property received is less than the adjusted basis of the virtual currency. See Publication 544, Sales and Other Dispositions of Assets, for information about the tax treatment of sales and exchanges, such as whether a loss is deductible.

Crypto is property. When you trade property for different property (read: crypto for crypto) you recognize a gain or loss based on the fair market value of the crypto you are trading away.

[Anonymous No.20634721]

>>20634590
Fuck.. yea probably best thing to do even though it kills my soul. At least the millions leftover should make me feel better

>>20634605
Literally just proved me right retard. It's only taxed when used as regular currency. You're not taxed if you don't buy anything with it and it's considered capital gains if you convert it to USD. Take a lap

[Anonymous No.20634751]

There has been too much violence, too much pain.
None here are without sin, but I have an honorable compromise: Just pay your taxes.
Cash out your crypto, get an accountant, print out your info from exchanges, report all your gains, and I spare your life.
Just pay your taxes. I will give you safe passage in the threads.
Just pay your taxes and there will be an end to the horror.
I await your answer. You have one more post to decide.

[Anonymous No.20634779]

Low IQ here. Say you had a friend who lived in Malta/Puerto Rico (that you trusted). Could you send them the crypto, they cash out and then send it to your account as a "gift"?

[Anonymous No.20634811]

>>20629292
By never selling, staking, converting to sats, and buying silver and gold with BTC.

[Anonymous No.20634812]

>>20634779
"Yea Mr. FBI agent. My good friend Julio in San Juan who makes $30,000 a year decided to gift me $10,000,000... what of it?"

[Anonymous No.20634817]

>>20634721
It's not only taxed when used, quote, "as a regular currency." The IRS doesn't even consider it "regular currency," but property, and property tax rules apply, including the fact that you recognize gain or loss when bartering property for other property.

Enjoy your audit, though, if you can't even understand this simple concept.

[Anonymous No.20634977]

>>20631224
Wouldn't you then owe income tax on the $3k/week "salary" you've been receiving?

[Anonymous No.20634993]

>>20634817
What property does the government tax after an original sales tax that's not a building? Do you report all the dildos you own every year to the IRS or is that a business write off for you? Last time I did my taxes the IRS wasn't asking me about my TV's and car

[Anonymous No.20635154]

>>20631886

This is literally me, and soo many other people it's not even funny

[Anonymous No.20635207]

Im an burger who can pretty easily get Irish citizenship. Any way this can help me?

[Anonymous No.20635267]

if not FBI agent, just hold for long term and withdraw only necessary amounts yearly. pretty sure with a year between withdrawals it’s not considered staggering which is illegal. someone fact check me on this?

[Anonymous No.20635274]

>>20635207
Not unless you give up your American citizenship.

[Anonymous No.20635294]

>>20630916
Cant think of any gambling sites that lets you deposit crypto and would be ok with you just cashing out without playing on their site

[Anonymous No.20635336]

>>20635294
You can always gamble then.

[Anonymous No.20635344]

>>20634817
Dude just let him ignore his taxes for 5 years and get gaped by an IRS audit when he finally tries to cash out. It's not worth the effort trying to save him at this point.

[Anonymous No.20635361]

>>20635267
>0% if income is less than 78k

what the fuck this is way higher than i thought. what am i missing here?

[Anonymous No.20635411]

>>20635344
Here's a plebbit post by a tax attorney that will help you and your retard friend understand better. When you're done reading please stay over there

https://www.reddit.com/r/Bitcoin/comments/1uccfz/i_am_a_tax_attorney_here_are_my_answers_to_the/

[Anonymous No.20635434]

>>20635361
That short term capital gains tax still applies for holdings of less than 1 year. This is specifically addressing long term capital gains.

[Anonymous No.20635459]

>>20631039
>[tax avoidance is] a meme
>in reality rich people pay a lower tax rate because they make their money through investments and long term capital gains rate is 15%

And why the fuck do you think LT Cap gains rate is lower than the rate on someone scraping out $50k a year at their job? Precisely because the rich have lobbied successfully to make it that low. They literally just park their money in a fund and let it accrue interest and pay less tax on it than someone who worked hard for a paycheck. And yeah I'm saying this as someone who wants to make it in crypto and I'll need to pay capital gains on all my shit when I cash out, so it's advantageous for me if it stays low. Doesn't mean it isn't assfuck backwards that I'll pay less tax on my gains than someone who busted their ass working for the same amount.

[Anonymous No.20635480]

Anyone wanna fire a cum shot inside my rectum?

[Anonymous No.20635542]

>>20635274
Ah geez

[Anonymous No.20635590]

>>20632294
Unfortunately any investment you made before gaining citizenship in Puerto Rico is subject to normal tax rates

[Anonymous No.20635601]

>>20629292
by living in peurto rico

[Anonymous No.20635615]

>>20635590

Imagine living in fucking Puerto Rico for over a year and then finding this out

[Anonymous No.20635626]

>>20635590
You know Puerto Rico is a part of the US and Puerto Ricans are US citizens right?

[Anonymous No.20635627]

>>20635411
>submitted 6 years ago
Everything in there irrelevant now. The IRS has clarified its position on how crypto is treated since then. Before 2018 you could get away with claiming like-kind exchange, it's not allowed now. All crypto exchanges are exchanges of property now and subject to capital gains tax.

[Anonymous No.20635663]

>>20635626
You know they're not subject to federal tax laws, right? DUMB FUCK

[Anonymous No.20635664]

Wait... I have to pay taxes??

[Anonymous No.20635675]

>>20635627
That's literally what that article describes and what I've been saying. You also don't pay capital gains tax until you cash out. Unlike the other guy saying every time Bitcoin farts and goes up .001% you owe taxes on it

[Anonymous No.20635706]

>>20635663
Citizenship... Puerto Rico. Learn to read. And no they're not subject to federal tax laws hence the loop hole

[Anonymous No.20635734]

>>20632402
hopefully you guys can afford soap and running water by then

[Anonymous No.20635823]

>>20635706
>falling for the PR meme
>believing that there's no cost associated with taking advantage of either Act 20 or 22 to defer federal taxes beyond living in PR

you guys will unironically ngmi

[Anonymous No.20635831]

>>20635675
Niggerfaggot, you are niggerfaggodociously wrong. The article is outdated. It is bad intel. You are a nigger and a faggot.

https://www.irs.gov/newsroom/like-kind-exchanges-now-limited-to-real-property
>Like-kind exchange treatment now applies only to exchanges of real property that is held for use in a trade or business or for investment. Real property, also called real estate, includes land and generally anything built on or attached to it.

>Unlike the other guy saying every time Bitcoin farts and goes up .001% you owe taxes on it
You owe taxes on the realized gains at the moment when you make an exchange for a new digital currency. Not whenever the price goes up. You stupid fucking faggot.

[Anonymous No.20635861]

>>20629492
this.

[Anonymous No.20635879]

>>20629292
Just want to let everyone on this thread know that talking about screwing over the IRS is a felony. Good luck.

[Anonymous No.20635917]

Jokes on them. I lost money.

[Anonymous No.20635945]

>>20635879
Good thing this entire convo was about what we can do LEGALLY to pay the least amount of tax. Take a hike faggot

[Anonymous No.20636007]

If I don't pay quarterly how big is the fine if I pay yearly? I was thinking the fine might outweigh the investment potential

[Anonymous No.20636027]

>>20635831
I'm going to come to your shithole country and fuck your mouth until I rattle your brain enough to form a coherent thought.

That article says exactly the shit you just posted. You're reading comprehension must be that of down syndrome child because I've been saying this whole thread the shit that you just mindlessly parroted from the IRS website.

I'll say it in retardese so you can understand "tHe GuBmEnT nO tAkE lInKy'S iF yOu nO sPeNd tHem oR tRaDe fOr nOn-lInKy

[Anonymous No.20636089]

>>20635879
we're literally talking about a self defense situation you absolutely GLOWING nigger ape faggot get fucked lmao

[Anonymous No.20636108]

>>20631886
this is another reason why crypto is being allowed to moon because the irs gets to collect a lot of new tax money

[Anonymous No.20636597]

>>20633853
Based as fuck

[Anonymous No.20636677]

>>20632364
glownigger

[Anonymous No.20637020]

>>20631039
>you can't say the rich avoid taxes, that's a conspiracy theory by communists to yadda yadda
>actually the rich just avoid taxes but I said it in a way that makes them sound like they're smart for doing it

>implying the senile pedophile will win
>implying the senile pedophile will do even 1 thing to piss off the ruling class
deluded

[Anonymous No.20637342]

Wew lucky I’m a legal resident of a small Asian country where crypto is non taxable income