/biz/ - Business & Finance

[Anonymous No.21413968]

let's say you become rich off crypto
you bought a bunch of linkies and then you're a millionaire

how would you go about withdrawing this money?
what would you do for taxes or capital gains or any of that?

would you just tell your bank you're getting a big ol' fat stack of money coming in?
what if the IRS comes after your ass cause you didn't know or follow all the right steps

how do you know what to do once you make it frens

[Anonymous No.21414012]

Get an accountant to be sure if you want to pay taxes

[Anonymous No.21414052]

>>21414012
yeah but then how much are you paying this accountant

[Anonymous No.21414060]

>>21413968
setup a company in dubai or some shit
cash out

[Anonymous No.21414082]

>>21414052
they usually have standard rates,
& you want a tax attorney, not accountant

[Anonymous No.21414131]

>>21413968
Send 10 LINK to 100,000 persons

[Anonymous No.21414147]

i got rich of ETH in 2017 and have exited crypto and am living off stock gains. the first thing i did was find an accountant and told him i needed help, walked me through everything, he got a nice payout, but i didn't care.

i still feel like i'm dreaming. not in a really good way either. i mostly don't know what to do with myself. it's nice having a lot of money for anything i guess.

[Anonymous No.21414259]

>>21413968
Send it to paypal, then call the bank and an accountant?

[Anonymous No.21414292]

>>21413968
Just pay your taxes like everyone else, unless a life on the run looking over your shoulder sounds good.

[Anonymous No.21414295]

Contact a Mexican drug cartel, buy coke with link, sell link to local street gang for cash.

[Anonymous No.21414351]

>>21413968

i don't mind paying a 30 percent tax. it was money i made sitting on my ass

700 thousand dollars is still sufficient for my lifestyle

[Anonymous No.21414554]

people who are so greedy that they are not willing to pay taxes on money they made sitting on their asses are a bunch of faggots

[Anonymous No.21414729]

i would understand if you were struggling and you only made like 15k then i would understand why you would not want to pay taxes, but if you made over a million dollars you should be paying taxes on that shit.

[Anonymous No.21414783]

>>21414351
>>21414554
well how do you figure out which taxes you need to pay though and how do you go about paying them
everyone says get an accountant or tax attorney but this shit should just be something that's easy to figure out and do yourself
these fuckers writing all these tax codes and laws just so that they're required to be paid their jobs shouldn't even exist

[Anonymous No.21414821]

>>21413968
are you in USA?
move to Puerto Rico for 6 months, try not to let anybody know you've got money though

[Anonymous No.21414902]

>>21413968
You mean bought a bunch of suties and be a millionaire?

[Anonymous No.21415063]

>>21414821
hey im interested in this. i have a passport. can i just go chill there for 6mo? where to stay?

[Anonymous No.21415221]

don't they have a site that simplifies crypto taxes?

[Anonymous No.21415252]

>>21414147
You need to buy gold and get the fuck out of the market partly at least

[Anonymous No.21415399]

>>21413968
I would trade for BTC and keep it stashed away, and maybe try to find a buyer on the darknet or something who can wire money to an offshore account

[Anonymous No.21415518]

>>21414147
Unironically get a job. Doesn’t have to be too demanding tho. Sounds like you Need some structure in your life bro

[Anonymous No.21415656]

>>21414147
How much you cash out?

[Anonymous No.21415824]

>>21414783
How does a millionaire not know about CPAs?

[Anonymous No.21416100]

>>21414147
>>21415518
Get job at a place with a lot of women, some kind of office. Then anon's golden era will come. Or go back to university, it works the same.

[Anonymous No.21416228]

>>21414351
>>21414554
never paying any taxes you filthy kike scum.
dont like it ? you can suck me like your sister did last night

[Anonymous No.21416480]

>>21414729
if you only made 15k you wouldn't pay taxes. capital gains tax starts around 85,000

[Anonymous No.21416486]

>>21413968
Unironically hire a tax lawyer or someone who knows much more than you.

[Anonymous No.21416675]

>>21414295
Hey homie, I got a couple k’s of dat chainlink. You buying?

[Anonymous No.21416798]

>>21414783
You literally take your whatever wallet you have gains figure and give it to your tax jew; or if you do your own taxes, figure out the federal, state, and municipal cap gains rate, add them together, and then figure out if any of them can be written off by the other. Might get messy if you have to itemize tho.

[Anonymous No.21417163]

Cash out, don't try to hide anything from the IRS, put money into a legit tax shelter the same year to offset taxes. Have a business (Schedule C) or rental property (Schedule E) or a farm (Schedule F). Don't try to make money off of any of them, just invest capital into them to increase their long term value. Property improvements, tractors, lots of other stuff will all undercut your taxable income. Depreciation is your friend, especially special 1 year depreciation. Talk to a lawyer and deduct those charges, too.

[Anonymous No.21417303]

>>21413968
Talk to a tax account who would help me set up an LLC and hopefully keep from getting too screwed.

[Anonymous No.21417375]

Get an accountant
Every day we have these threads, there's always people asking retarded questions to other retards or people trying to figure out how to commit tax fraud
GO AND GET SOME JEW TO DO IT FOR YOU, it will be so much easier in the long run. They're bred for this shit

[Anonymous No.21417406]

>>21414147
remember there are plenty of poor people wagecucking but who ALSO dont know what to do with themselves (except kill)

[Anonymous No.21417466]

>>21415063
You don't need a passport... Puerto Rico is a territory you fucking mouth breather

[Anonymous No.21417484]

>>21414351
based tzuyu poster, but dubu is superior

[Anonymous No.21418340]

[Anonymous No.21418582]

>>21413968
>Call bank to say i have a shit ton of money coming in from a foreign account
>File your taxes
>Live comfy
I didn't file taxes from swing-trading last year, i'm gonna do it soon. They have to check my account on the exchange/reach out to them to get that information anyways, i don't know if it's common to ask for tax data from exchanges

[Anonymous No.21418705]

>>21413968
Buy a bunch of gold and dont tell the gov about it fuck those greedy cocksuckers

[Anonymous No.21418805]

At a certain point it becomes easier to just get an OTC broker to set up a trade for you. also hire a tax attorney. If you're making a lot of money the IRS is going to want their cut that quarter so its easier to just pay it after you sell.

[Anonymous No.21418890]

>>21414147
Get a part time job and only work as many hours as you want. It will give you some purpose and the extra cash, even it a small amount, will help augment your gains and keep your stack fatter for longer. Or even just volunteer.

[Anonymous No.21419412]

Get acountant, call bank. pay taxes? Thats literally it.

[Anonymous No.21419559]

>>21414554
Fuck outta here IRS glownigger

[Anonymous No.21419691]

>>21413968
Easy. Call the bank and inform them that you will be making a large deposit. Hire an accountant. Pay your taxes.

[Anonymous No.21419773]

>>21413968
Trade to USDC
Go neet mode
Withdraw 40k a year until superior offramp arised

[Anonymous No.21419848]

send to coinbase
click sell
pay tax
it's not complicated
just stop being retarded

[Anonymous No.21420000]

>>21414821
I thought you have to live in Puerto Rico for like 200 days a year every year to get away with this. You’re saying I can move there for 6 months and chill and then cash out tax-free? But then when you put your gains back into the stock market you’re right back in the system. How do you avoid this?