/biz/ - Business & Finance

[Anonymous No.2264312]

DAFUCK?

I GOTTA PAY TAXES ON EACH FUCKIN TRADE AND NOT JUST ALL THE MONEY IVE MADE IN TOTAL?

DAFUCK?

NIGGA WAT WAT WAT


REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

[Anonymous No.2264321]

stfu

[Anonymous No.2264323]

>I bought x coin at x date, it's now worth x
>pay x taxes
>problem solved

[Anonymous No.2264326]

>>2264312
B..but ive moved my crypto to so many places and have pumped/dumped bits and pieces this will be so hard to do....

[Anonymous No.2264328]

>>2264326
exactly HOLY SHIT im literally fucked

[Anonymous No.2264329]

>>2264312

[Anonymous No.2264359]

>>2264326
>>2264328

Don't the brokerages Poloniex/Bittrex keep records of all trasanctions?

I'm more curious as to exactly how much you're taxed, as in percentage wise to add to trade fees and figure out if somethings a profitable move or not.

[Anonymous No.2264382]

I can see someone creating a tool that imports trade history and then spits out tax info.

[Anonymous No.2264385]

>>2264359
Isn't this like re-taxing someone after buying a house because it went up in price

What the actual fuck

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHA

[Anonymous No.2264390]

>>2264359
yes they do but ive moved them to other exchanges and lost and gained so many times. FUCK they dont know if i traded crypto, so I think if you withdraw maybe a few hundo a week youre fine

[Anonymous No.2264394]

>if YOU can't find the transaction history anyplace
>it probably wasn't reported to the IRS

[Anonymous No.2264401]

>>2264312
just pay capital gains on what you put in and what you took out

fuck the irs

[Anonymous No.2264410]

>>2264401
is this legal? this is exactly what i want to do, can i xchange my crypto to usd and pay capital gains on that bitch?

[Anonymous No.2264411]

>>2264382
https://bitcoin.tax/

[Anonymous No.2264413]

>paying taxes

[Anonymous No.2264414]

>>2264410
I doubt they would look any further

[Anonymous No.2264424]

If they want "their" money they can write me a fucking letter . Or 2 or 3 because I'll ignore them.

[Anonymous No.2264431]

>>2264410
As long as you pay them something I doubt they'll care too much, unless you made like hundreds of thousands of dollars.

[Anonymous No.2264439]

Honestly, stop day trading and make a ton of transactions. It's not hard to do if you just buy and hodl, very few transactions you have to record then.

[Anonymous No.2264469]

>>2264312
Welcome to the club, taxation IS theft.

You think those taxes are helping your country in anyway? lmao no

[Anonymous No.2264501]

OP is wrong.
Most altcoin transactions are nontaxable events because many altcoins have no direct value in USD.
Trading BTC for ETH and vice versa are taxable, but BTC for XRP and back cannot be taxed.

[Anonymous No.2264522]

>>2264424
*goes to jail*

[Anonymous No.2264525]

>>2264312
Wait for Trump's capital gain tax cuts stupid goy

[Anonymous No.2264526]

>>2264501

Why would BTC and ETH be taxable but not BTC -> some shitcoin

[Anonymous No.2264535]

>>2264526
Ethereum has direct value in USD.
For example, you can buy it on Coinbase for USD.
You cannot buy XRP with USD directly. USDT isn't USD.

[Anonymous No.2264545]

What the hell is everyone talking about?

Buy bitcoin > Move to another address.

If anyone asks, you purchased/donated whatever the money.

In X months/years time if you want to withdraw money, list it as income!

Its not that hard.

[Anonymous No.2264564]

>>2264545
i lost all my bitcoin in a tragic boating accident

[Anonymous No.2264567]

>paying taxes on crypto
you wat mate

[Anonymous No.2264595]

>>2264312
>reported

[Anonymous No.2264603]

>>2264411
Thank you so much for recommending this, never heard of it.

[Anonymous No.2264605]

Also, this is FUD

you only need to track all that shit if you want to pay something other than straight income tax, IRS is totes fine with you paying tax on net gains as Other Income

[Anonymous No.2264678]

Let's say you become a millionaire... Can't you move to a country where there is no capital gains tax, open a bank account, and withdraw everything?
Am I missing something?

[Anonymous No.2264680]

>>2264605
Wut? Why would you pay tax in income when you can pay it in capital gains for a long term asset (aka 15% for liquidating BTC one year after you purchased it)?

>https://money.stackexchange.com/questions/74789/do-altcoin-trades-count-as-like-kind-exchanges-deferred-capital-gains-tax

>So therefore by the IRS' own guidance, you are trading property for property. Which in some cases is privy to like-kind treatment where capital gains tax events are no longer created upon liquidation into another like property until settled in a national currency.

FYI this might change soon though.

[Anonymous No.2264744]

>>2264501
lmao enjoy getting audited

>>2264605
no, they arent

>>2264678
you can try but no third world shithole is going to do that for you unless you are ultra rich

[Anonymous No.2264768]

>>2264526
Because they have direct USD value. As sites like Coinbase add more coins, those too will have a USD value and become taxable.

[Anonymous No.2264780]

>>2264678
As long as you're a US citizen you owe Uncle Sam a cut no matter where you are in the world.

[Anonymous No.2264798]

Does anyone know how this works for Australians? I'd give my crypto away before I give 50% of it to clowns in parliament

[Anonymous No.2264806]

>Paying taxes on crypto
Stop fucking doing this, for fuck's sake.

[Anonymous No.2264812]

>>2264469
>Welcome to the club, taxation IS theft.
>You think those taxes are helping your country in anyway? lmao no

>what are roads
>what is the military
>what is the police
>what are firemen
>what are electricity sources
>what are laws and regulations to keep you from getting fucked

[Anonymous No.2264819]

>>2264806
>t. someone posting from a country that doesn't even have a government

[Anonymous No.2264824]

>>2264780
Fuck the system completely, just denounce your US citizenship

[Anonymous No.2264872]

>>2264744
>no, they arent
Yes, they are.

Tracking is required to prove that you're actually entitled to long-term cap gains rates, if you aren't trying to claim it they won't fucking care

>>2264680
because documentation requirements are fucking insane for this shit

[Anonymous No.2264880]

And how the fuck is the government gonna know about my trades on exchanges and between places?

[Anonymous No.2264884]

>>2264872
you must be buying shit then, I'm not about to pay more than 30% on 80k. shit man get some standards.

[Anonymous No.2264892]

>>2264880
by demanding to see how you, a pathetic neet made a whole 3.50 in a month

[Anonymous No.2264900]

>>2264880
they don't have to. they'll see you as a crypto user because your cash in/cash out doesn't add up, then audit the fuck out of you.

[Anonymous No.2264908]

>>2264900

So pretty much the only time I'll need to pay capital gains tax is when I cash out fully. I intend to stay in for a while anyways

[Anonymous No.2264918]

>>2264525

THIS

[Anonymous No.2264919]

>>2264908
NO

you need to pay on every transaction and they will pursue it because you'll be trying to claim 15% on long terms when a lot of your shit may be short term

[Anonymous No.2264920]

>>2264564
F

[Anonymous No.2264933]

>>2264812
If you think even 5% of your taxes are going to anything you listed (besides the military which takes 54% of your taxes lmao) you're just wrong.

[Anonymous No.2264936]

NO YOU FUCKING IDIOTS

YOU ONLY HAVE TO PAY TAX ON PROFITS WHEN YOU CASH OUT TO USD

[Anonymous No.2264953]

>>2264535
You can directly buy XRP at Kraken

[Anonymous No.2264970]

>>2264564
>>2264920

>>/k/

[Anonymous No.2264976]

>>2264410
what are they going to do? How are ((they)) going to have access to information that you don't have?

[Anonymous No.2264988]

>>2264312
Nope, only when you cash out

http://www.investopedia.com/articles/00/102300.asp

[Anonymous No.2264992]

>>2264312
"i was given x amount of btc on my coinbase amount for x job"

pay my 15% and call it a day.

no problem there. as far as the kikes know i never traded crypto just received payment.

[Anonymous No.2265028]

Im so confused...So do we pay taxes when we switch to USD or do we pay taxes regardless?

[Anonymous No.2265043]

Doesn't that still equal the same amount?

Say you trade 3 times, scoring 100$ of profit each time
So you pay 10% of each 100$ profit, that's 30, or you can pay 10% of the 300$ total, that's still 30

Am I missing something?

[Anonymous No.2265089]

>>2264988
This.
IRS gives no fucks about how many meme coins you mine, exchange etc. Its only when you cash out in USD or other fiat currency will Uncle Sam come knocking at your door.

Also. /x/ tier idea, but I believe Coinbase is an arm of the IRS. Nobody has that much capital Especially after this BTC pop , and can continue to pay out like they are doing.

[Anonymous No.2265129]

>>2264394
>get audited by IRS
>they notice undeclared income
>have to pay it with interest and fines

[Anonymous No.2265144]

>>2264819
Maybe that's part of the solution. Cash out in a foreign country that doesn't try to kike you.

What countries are good for turning crypto back into fiat?

[Anonymous No.2265168]

>>2265144

Every sell (even between cryptos) is a taxable event regardless of whether you "cash out". That being said, you only pay taxes on the profits, and they're negated by your net losses, so it really makes no difference how many transactions you made.

[Anonymous No.2265169]

>>2264918
Stupid goy, it's never happening for you.

[Anonymous No.2265173]

You're all idiots. OP is not talking about cryptocurrency trading. Part of the many reasons why I stopped trading stupid worthless stocks on the stock market, besides them being worthless, is the retarded shit you have to deal with, like the way you have to report your trades or you'll end up owing way more than you're supposed to. Too much bullshit, and all stocks are blatant scams anyway, why bother.

[Anonymous No.2265177]

>>2264312
they say real time trading doesnt exist on most stock trading apps, when really theyre just calculating their profit out of your gains.

[Anonymous No.2265201]

>>2265129
you pay the overall capital gain, dont report each and every individual trade ffs retard

[Anonymous No.2265203]

>>2264936
i think most people know this but everyone just wants to believe so they can rage and hate on the IRS

[Anonymous No.2265228]

>>2265173
OK makes since. I figured its was stocks, thats the same reason I left it alone.

[Anonymous No.2265255]

just fucing lie whats wrong with you? your cashing out $6000 USD just divide that buy whatgever some bitcoin and ether is worth and just say u bought that many somet ime ago. its not like they are going to ask to see ur poloniex history fucking goof

[Anonymous No.2265301]

The government is such a fucking mafia, they want a piece of the pie every time money changes hands

>Company gets taxed for making money
>Customers get taxed for buying their products
>Employees get taxed for getting paid
>Employees get taxed for spending their pay
>Employees get taxed for any activity they do on their own time that made them money
>Instead of using that tax money to repair roads, improve schools, give healthcare, and other things that would improve society, they waste it all on stupid shit

[Anonymous No.2265304]

>>2265043
Some not moron please confirm this, i'm a moron.

Making 500 trades and taxing each trade at 15% should equal to making 1 trade at 15% SHOULD be the same, right?

[Anonymous No.2265318]

>>2264812
>muh boogeyman
Oh no it's not like every white country on Earth is rich because they've robbed every black and brown country on Earth for the last 200 years please fuck me in the ass and take 20% taxman lel

[Anonymous No.2265334]

rule of thumb: just send 20% of everything you make to the gubmint (capital gains tax) and youre probably fine.

I had to cut them a check for 75k last year for all my stock trading

[Anonymous No.2265346]

>>2264385
>not understanding capital gains
Come on dude, that's beginner shit.

[Anonymous No.2265358]

>>2264812
fuck off bernie

[Anonymous No.2265366]

>>2264988
>>2265089

Incorrect...each time you sell, it's a capital gain/loss on that transaction.

[Anonymous No.2265374]

>>2265304
Look at it another way
Buy $100 of BTC
Trade all of it for DGB
DGB value goes up to $200
Trade back to BTC
Cash out
(ignore fees, etc)

If you paid taxes on each trade, you would end up with $100 * 0.9 (BTC -> DGB) * 0.9 (DGB -> BTC) * .9 (BTC -> USD), which means your $100 profit is now only $72.90.

Of course, that's not how it really works, you're only taxed when you cash out, but if you were taxed per exchange, you could get really fucked.

[Anonymous No.2265381]

>>2265366
Citation needed, IRS considers it a like-kind exchange last I heard

[Anonymous No.2265388]

>>2265201
No, you pay for every transaction bought, then sold.

>you don't pay on sales tax once per year based off the total purchases made in a year, you pay sales tax each time. Capital gains is the same way.
>Have etrade account, buy x, sell x, buy y, sell y. Both transactions will have capital gains tax that needs to be paid, and it will be a short term, aka higher tax.

[Anonymous No.2265395]

>>2265388
in the future just pay every transaction in BEANCOIN!!

[Anonymous No.2265397]

>>2265374
so do we actually have a source on this paying only when we cash out? I've gotten pretty convinced that's not how it is

[Anonymous No.2265407]

>>2264312

I ain't even reading through this whole thread, but no.

If it ain't in FIAT the IRS matters not.

[Anonymous No.2265409]

>>2265388
>you don't pay on sales tax once per year based off the total purchases made in a year, you pay sales tax each time. Capital gains is the same way.
Capital gains are not the same way. Capital gains taxes apply when you turn your assets into fiat. Sales taxes aren't comparable at all.

[Anonymous No.2265417]

>>2265301

Trump will make America great again.

[Anonymous No.2265420]

>>2265397

Do you file yourself on steam trading cards? Do you pay on CS GO skins or rocket league trades?

Trading a coin for a coin is not a sale. It's a trade. And it's subject to your terms at the time of exchange. If you're audited you'd be smart to save a copy of your ledgers, but people saying you need to file them are idiots. It's not money.

[Anonymous No.2265421]

>>2265381
>citation needed
have you never had a brokerage account before?

[Anonymous No.2265426]

>>2264410
Every day that passes more and more users are buying bitcoin and making trades. Do you think the irs will have the manpower to audit even a fraction of the users? They will have to audit basecoin then compare that data to poloniex then they will have to find someone knowledgeable enough to manage all of this all the while millions upon millions of users will fill up their todo box. They are years behind the curve and i doubt they will be able to catch up. And this is assuming someone doesnt wash their coins through monero or some other service.

[Anonymous No.2265430]

>>2264798

30% CGT or 15% if you hold for minimum 12 months

[Anonymous No.2265446]

>>2264312

lol no, just claim you dont know shit and pay the 30% capital gains tax

[Anonymous No.2265448]

>>2264812
>what is the military industrial complex
>what is aid to israel
>what is the federal reserve

[Anonymous No.2265452]

>>2265420
I see what you're saying.
Honestly I don't think there's any need to worry about taxes at all until cashing out.
Plus, at the point when (if ever) it's time to cash out, the 0.001% cost of profits will not be a waste to get a professional opinion.

[Anonymous No.2265466]

>>2265409
You missed the comparison.

When you buy and sell stocks, every transaction is line item on a tax form your broker gives you. Each line will show the capital gain/loss on it, and you pay the taxes for each transaction. This is also auto reported to the IRS, so if you don't claim it on your tax return, they buttfuck you harder than Ja'roam in the slammer.

[Anonymous No.2265472]

>>2265452
This. I have yes to hear of a case of someone going to jail over crypto tax. So far they ross and thats about it. Also expect a bitcoin party either by next election or by 2024.

[Anonymous No.2265476]

>>2265426
Every US based exchange will auto report to the IRS.

>what do you think the photo id verification is for

[Anonymous No.2265488]

>>2265476
this. mfw the IRS will begin buttfucking neets for their cryptogainz in a couple years.

[Anonymous No.2265495]

>>2265466

God i feel so sorry for those of you that live in the U.S.

[Anonymous No.2265509]

Idea: Send your BTC/coin through coinbase, polo, bittrex, yobit, c-cex, livecoin, nova, etc, etc, etc
Then when eventually one of they shuts down/exit scams the paper trail disappears. No more transaction history.
(This is to humor those who think every transaction is taxable) So then you could say you lost a huge portion of your exchange history

[Anonymous No.2265510]

>>2265420
this is fine as long as you never plan on cashing out.

[Anonymous No.2265512]

>>2265495
burgerland. hurr muh freedums...uncle sam plz dont fuck muh bunghole anymore its already bleeding.

[Anonymous No.2265519]

https://www.irs.gov/irb/2014-16_IRB/ar12.html
>Internal Revenue Bulletin: 2014-16
>April 14, 2014
>Notice 2014–21
>IRS Virtual Currency Guidance

[Anonymous No.2265520]

>>2265488
Let this little guy buttfuck you to the MOON!

[Anonymous No.2265529]

>>2265520
lmao moonshills. Fucking pajeetcoin. Each time I see this fucker I laugh

[Anonymous No.2265532]

>>2265519
Q–5: How is the fair market value of virtual currency determined?

>A–5: For U.S. tax purposes, transactions using virtual currency must be reported in U.S. dollars. Therefore, taxpayers will be required to determine the fair market value of virtual currency in U.S. dollars as of the date of payment or receipt. If a virtual currency is listed on an exchange and the exchange rate is established by market supply and demand, the fair market value of the virtual currency is determined by converting the virtual currency into U.S. dollars (or into another real currency which in turn can be converted into U.S. dollars) at the exchange rate, in a reasonable manner that is consistently applied.

[Anonymous No.2265543]

>>2265472
"yet".

2 years later:

"...and tonight on the 11 clock news. the IRS has filed suit against another 14000 cryptotraders...."

[Anonymous No.2265546]

>>2265519
Q–16: Will taxpayers be subject to penalties for having treated a virtual currency transaction in a manner that is inconsistent with this notice prior to March 25, 2014?

>A–16: Taxpayers may be subject to penalties for failure to comply with tax laws. For example, underpayments attributable to virtual currency transactions may be subject to penalties, such as accuracy-related penalties under section 6662. In addition, failure to timely or correctly report virtual currency transactions when required to do so may be subject to information reporting penalties under section 6721 and 6722. However, penalty relief may be available to taxpayers and persons required to file an information return who are able to establish that the underpayment or failure to properly file information returns is due to reasonable cause.

[Anonymous No.2265556]

>>2264806
I like that my country spends the money on roads, cheap healthcare, nap blankets for our parliament members and free education.

[Anonymous No.2265567]

Taxation of theft

[Anonymous No.2265572]

>>2265519
>Virtual currency that has an equivalent value in real currency, or that acts as a substitute for real currency, is referred to as “convertible” virtual currency. Bitcoin is one example of a convertible virtual currency.

This notice addresses only the U.S. federal tax consequences of transactions in, or transactions that use, convertible virtual currency, and the term “virtual currency” as used in Section 4 refers only to convertible virtual currency. No inference should be drawn with respect to virtual currencies not described in this notice.

[Anonymous No.2265579]

>>2265572
So basically, only USD>BTC>ETH>USD>ETH>BTC>ETH is taxed but BTC>DGB>MOON>BEAN isn't taxable

[Anonymous No.2265585]

>tfw American and will probably have to renounce citizenship because I keep getting kiked by my own government

[Anonymous No.2265590]

>>2265579
no, see
>>2265532

>if the altcoins can be traded/converted to ETH/BTC, then you can calculate the USD

[Anonymous No.2265602]

>>2265590
IRS jews thought of everything. I guess my cryptogainz will all go to unclesam for him to keep fucking with assad

[Anonymous No.2265605]

>>2265590
I'm not seeing anything there, it's just talking about virtual currency like bitcoin eth.

Just because DGB can go to BTC, that doesn't mean DGB can be considered USD value

[Anonymous No.2265610]

>>2265590
Just because "transactions using virtual currency must be reported in U.S. dollars" that doesn't actually mean thats BTC IS usd

[Anonymous No.2265614]

>>2265605
I don't know why this is hard for you to understand...

If BLOCKFOLIO can show everyone their cryptos in USD, then you can sure as fuck bet, the IRS is going to expect you to do the same.

>All cryptos are based off of USD, BTC, or ETH pegs

[Anonymous No.2265616]

>>2264312

>Renounce citizenship
>Withdrawl without getting jewed
>write letter to President Trump appealing to his ego and making the best business deal
>have citizenship reinstated

I think it could work

[Anonymous No.2265617]

>>2265602
I never thought I would have to leave the fucking country for good but I guess this is it

[Anonymous No.2265627]

>>2265610
What?

I'm sorry... I'm done here for now... go do what you want, but the damn evidence is obvious...

Good luck in April

[Anonymous No.2265628]

>>2265532
what

so for a BTC-ETH trade i would have to go back and determine the market value for bitcoin at 5:56pm on November 7, 2016????

even for a like-kind exchange? every single fucking transaction?

am i being a retard or is that really what it's fucking saying?

[Anonymous No.2265630]

>>2265614
So what did they mean by this: "This notice addresses only the U.S. federal tax consequences of transactions in, or transactions that use, convertible virtual currency, and the term “virtual currency” as used in Section 4 refers only to convertible virtual currency. No inference should be drawn with respect to virtual currencies not described in this notice."

If not to say alts are literally fine?

[Anonymous No.2265635]

just pay taxes on the difference of usd you put into/cashed out of your bank. capital gains form in the us. easy.

[Anonymous No.2265640]

>>2265627
see
>>2265630

But either way I'm glad you posted this, kek.
Just trying to make sense of it famalam

[Anonymous No.2265641]

>>2265628
That's correct.

Every. Single. Transaction.

>>2265635
Enjoy the audit ;^)

[Anonymous No.2265659]

>>2265641
how is the RIA going to aduit my encrypted bittrex wallet? lol.

[Anonymous No.2265674]

>>2265630
>>2265640

That means, "we aren't talking about in game currencies and other dumb shit".

>Anything related to crypto is a virtual currency. WoW gold is not. Blockfolio has USD cost for every crypto.

Not that hard anons

[Anonymous No.2265684]

>>2264312
You also have to pay taxes on any coins you mine. You also have to include what price they are at the point of mining.

Have fun.

[Anonymous No.2266192]

>>2265684
>You also have to pay taxes on any coins you mine. You also have to include what price they are at the point of mining.

[Anonymous No.2266279]

You guys are such monkey retards.

I have an accountant. he does accounting for attorneys. He is a high level accountant that charges a few hundred an hour.

HE SAID: You only have to pay taxes on what you convert to fiat.

We also spoke hypothetically about how the IRS could even figure out these fucking bitcoin trades/transfers.

Spoiler alert retards: they can't

[Anonymous No.2266325]

>>2264525
its not gonna happen, its trump

[Anonymous No.2266361]

>>2265318
Robbed them of what, their mud huts?

>>2264469
This is why you don't convert back to GovCoin. Those fucks can't touch my Monero. Governments worldwide are doomed. It's a train I'm getting off early by stashing some crypto.

[Anonymous No.2266373]

Crypto is the Wild West of finances

The small town Sheriff can't do shit to stop our wholescale WAGON ROBBIN'

>The taxman can't into crypto

[Anonymous No.2266375]

>>2264469

[Anonymous No.2266382]

>>2264812

you utter fuckin moron.
get a grip.
being robbed the majority of your income is nothing more than theft.
i could live with a 10% overall tax. but not with >50% to feed the jews and their niggerpets.

kys

[Anonymous No.2266383]

>>2266279
by the time they figure this shit out it will be too late.

[Anonymous No.2266393]

>>2266279
With the millions invested into blockchain analysis they will eventually figure out Bitcoin transfers. Monero is the only coin I'm comfortable holding and spending. I hold some BTC as a hedge but it doesn't make me happy.

[Anonymous No.2266394]

>>2266279
Trading crypto to crypto is a taxable event
http://www.thetaxadviser.com/newsletters/2017/apr/cryptocurrency-taxes.html
Also keep in mind the issue isn't whether or not the IRS or any government service WILL figure out what/if you owe, it's whether or not they CAN figure out that you owe SOMETHING. Always think about whether or not what you're doing now can get you in trouble later. You might be trading a couple hundred bucks a week right now and think nothing of the ~$20 you would owe in taxes, but months or years down the line when you're trading >$10,000 a day and still not reporting any of your income, you'll be a much more attractive target.

[Anonymous No.2266406]

>>2264812
>>2266382
Yeah this. Do you think the government invented electricity or something?

[Anonymous No.2266419]

>>2266394
I just wish I tumbled BTC into Poloniex and used a VPN at all times there. There's no way I'll be able to deny it's me when the IRS take all their records. Fuckin coinbase add xmr already you cunts.

[Anonymous No.2266471]

>>2264812
You know MUH ROADS built by Eisenhower in the 50s? Great man, first interstate highway ever, right?

WHOOPS

https://en.wikipedia.org/wiki/Lincoln_Highway
>The Lincoln Highway was one of the earliest transcontinental highways for automobiles across the United States of America.[1] Conceived in 1912 by Indiana entrepreneur Carl G. Fisher, and formally dedicated October 31, 1913, the Lincoln Highway ran coast-to-coast from Times Square in New York City west to Lincoln Park in San Francisco, originally through 13 states: New York, New Jersey, Pennsylvania, Ohio, Indiana, Illinois, Iowa, Nebraska, Colorado, Wyoming, Utah, Nevada, and California. In 1915, the "Colorado Loop" was removed, and in 1928, a realignment relocated the Lincoln Highway through the northern tip of West Virginia. Thus, there are a total of 14 states, 128 counties, and more than 700 cities, towns and villages through which the highway passed at some time in its history.
>Carl G. Fisher was an early automobile entrepreneur who was the manufacturer of Prest-O-Lite carbide-gas headlights used on most early cars, and was also one of the principal investors who built the Indianapolis Motor Speedway. He believed that the popularity of automobiles was dependent on good roads. In 1912 he began promoting his dream of a transcontinental highway, and at a September 10 dinner meeting with industry friends in Indianapolis, he called for a coast-to-coast rock highway to be completed by May 1, 1915, in time for the Panama-Pacific International Exposition in San Francisco.[7] He estimated the cost at about $10 million and told the group, "Let's build it before we're too old to enjoy it!"[1]

[Anonymous No.2266483]

>>2266471
>Lincoln Highway
Wow, a piece of shit dirt road that got so muddy it was often totally impassable. Real free market innovation right there.

[Anonymous No.2266557]

>>2264312
>implying some public servant is going to search through your dogecoin and digibyte transactions to figure out precisely how much you owe.
Lel i told them i payed hundreds of dollars in parking fees and they gave it no questions asked. Incompetent faggots who are only going after the big fish

[Anonymous No.2266588]

>>2266483
Significant parts were concrete, and what do you expect when the average car was probably driving 40mph tops?

[Anonymous No.2266620]

>>2265318
>Oh no it's not like every white country on Earth is rich because they've robbed every black and brown country on Earth for the last 200 years

Oh yeah, that must be the reason. Because we all know blacks had such great civilizations, invented the wheel, were KANGZ using all those resources before the evil white man took it all. It definitely has nothing to do with the fact that non-whites can't build civilization. No no, its whitey that's responsible. That's why every black majority place is a shithole (Detroit, Haiti, Africa), cause of whitey.

[Anonymous No.2266623]

Newcoiner here. How do they get the records? Bittrex doesn't even know my real name.

[Anonymous No.2266627]

>>2266588
>what do you expect
An actual reason for why I should want to hand over my ability to move freely to a bunch of greedy profiteers. The best example you have is objectively garbage. Show me anywhere in the world with a privately funded highway system that's better than our current interstate system and I might believe you.

But you can't, because your political opinions are retarded.

[Anonymous No.2266648]

>>2266627
There were many private highways before Eisenhower. Problem is that by the time of FDR the government got a lot more powerful and gained the right to take basically any land for any reason. Who would want to build private highways when you know you can have them taken away and face infinitely-funded competition?

Granted, public highways are pretty nice and in the grand scheme of things they're almost nothing as a percentage of the federal budget. I don't mind the existence of public highways, but the idea that private investors are incapable of funding them is asinine.

[Anonymous No.2266673]

>>2266648
Nice excuses. Show me some examples that are better anywhere else in the world or stfu.

[Anonymous No.2266677]

>>2266673
>government confiscation of land and competition is an "excuse"
kek

[Anonymous No.2266688]

>>2266677
That's not stopping people in other countries from building private roadways, you god damn retard.

[Anonymous No.2266705]

>>2266688
The same forces that apply to American roads apply to most other nations' roads

[Anonymous No.2266731]

>>2266705
Wrong. Look at the ancap utopia of Somalia.

>inb4 they're African
Hmm, what a coincidence that they're following this fucking retarded system.

[Anonymous No.2266740]

looks great

[Anonymous No.2266745]

>>2266731
>Somalia
>ancap
Dumbest meme, they were literally a communist state fighitng a decades long civil war. No private business would invest in an improvements project in a communist nation where property rights don't exist.

[Anonymous No.2266746]

Help a poor fag out with some Siacoin.

010252d90b315a1d0dba75bdcf298548f3286ed62a1f149fe7b583a35927e8a23d4ab611fbe4

Anything helps...Please, I need to help feed my three wide-eyed children...

[Anonymous No.2266767]

>>2266745
>b-but it's not REAL anarcho capitalism
You're just as bad as those communists

[Anonymous No.2266783]

>>2266767
>communism is capitalism
wew

[Anonymous No.2266799]

>>2266783
Wow, sure is communist in total anarchy

[Anonymous No.2266807]

>>2266799
Wow, sure is capitalist with no property rights

[Anonymous No.2266829]

If you trade stocks and don't use something like GainsKeeper, you're a dumb faggot.

[Anonymous No.2266854]

>>2266807
>implying it's not their responsibility to enforce their own rights
Lol, what a statist thing for you to say :^)

Your whole ideology is a contradiction, expecting the goverment you abolished to also step in and protect your property.

[Anonymous No.2266879]

>>2266854
I never claimed to be ancap, commie

[Anonymous No.2266927]

>>2266879
>implying this isn't ancap waaaahhhh taxes thread #4263
WEW
E
W

[Anonymous No.2267008]

Heres an idea, if you dont want to pay taxes, why not leave the US? I heard some places in Somalia are pretty nice. Tents, deserts, the like.

[Anonymous No.2268277]

>>2264312
> exchanging cryptography for fiat
why don't you just kill yourself already?

[Anonymous No.2268298]

>>2264312
Wait bruh what are you saying?
Is this for everywhere?
I bought coins on coinbase and am using bittrex. Am I fucked? Ive been swing trading like a cancer...

[Anonymous No.2268377]

>>2265684
Yeah but no one knows what you mine, while they know what you buy/sell.
Miners who pay tax are total cucks

[Anonymous No.2268553]

>>2265659
by being stupid enough to admit on paper you did cryptotrading

[Anonymous No.2268565]

>>2265674
there is a fixed rate for USD to WOWGOLD though - you can buy those tokens with fiat now and exchange to wow gold

[Anonymous No.2268572]

>>2268553
When you cash out they are going to want to know how you got it.

[Anonymous No.2268676]

>>2264312
So if I just put all my gains back into BTC or ETH I don't have to do shit right?

If I move to Japan and use BTC as currency I'm cool right?

[Anonymous No.2268706]

It's called BitPay and why would you EVER cash out.

[Anonymous No.2268793]

>>2268676
Just use BitPay and it'll not count as fiat and you can use it where visa is accepted. I've been doing it for my car.

[Anonymous No.2268810]

>create buckshot chrome/firefox plugin
>charge nothing to download and install but post bitcoin wallet address for donations
>spoof a bunch of downloads
>spoof a bunch of donations
>look Mr taxman, nothing fishy here :)

[Anonymous No.2268924]

>>2268553
Down the road major ass fuckings are going to start being handed out. If you know how to launder money then fine, if you do not then most likely you are already fucking it up. People always have and always will regularly fuck up with cash. It's not that people who pay their taxes are stupid, we just have more productive things to do than try and avoid being ass fucked every day.

Most of the time the people who do get away with it and think they're clever for doing so were in reality too stupid to have a significant amount of money to begin with. Pussies don't drip over people who cleaned some gutters for cash, or bought a new hyundai outright, the tax mans dick doesn't get hard for this either.

When you have a fucking lambo in the driveway the sluts start to take an interest as does the tax mans ass loving dick. Unless you just want to hoard a way a bunch of money you will never be able to use either make sure you are making the proper arrangements to be able to explain this in the future, or just pay the fucking tax.

Seeing rich faggots being busted and locked up for this kind of shit doesn't make me angry, just disappointed.

[Anonymous No.2269087]

>>2268565
it doesn't matter anon, the IRS doesn't see that as a virtual currency in the same realm of crypto

[Anonymous No.2269488]

>>2268572
YEA it's totally not like u can go meet another person and exchange goods without (((them))) knowing
>>2268924
>If you know how to launder money then fine
we're not talking "big" amounts here.

everyone and their grandmother can launder small amounts (ie <7 figures) in no time with close to 0 expenses

atleast here in europe its a fucking joke.
like the chance of getting even audited here is 1 in 10 companies will get audited in a timespan of 10 years
>>2269087
not living in the realm of IRS so no idea on that

[Anonymous No.2269565]

>>2269488
OK yes I'll admit I'm not familiar with taxmen other than my own. I am somewhat concerned though that a lot of anons are making more money than they know what to do with and are quickly becoming deluded that they're in some way skilled in finance because they're not losing in this market.

Many would do well to just accept they've gotten very lucky and that giving some of that up is really not all that big of an ask. Pay for a professional to keep the bill to a minimum and enjoy the lambo without fear. Don't fuck this up goys, no man left behind.

[Anonymous No.2269614]

>setup wordpress store selling a single rare pepe
>accept bitcoin payments
>oh look someone bought my rare pepe for $30,000
>pay taxes and write off server costs as well as business laptop and home office

are you guys new or what? I might even start a charity like the clintons.

[Anonymous No.2269620]

>>2264312
If you mine alts then buy BTC and cash out you get triple taxed.

not that anyone is is reporting it.

[Anonymous No.2269684]

Guys, there are websites that handle all of the capital gains for you. You just upload your csv file from coinbase, bittrex or any exchange. It does the calculation. Use Google. We do not need screeches over this.

[Anonymous No.2269688]

>>2268676
Ofcourse the taxman do not know untill you withdraw and exchange to your local bank account in usd, eur or whatever.

>>2264312
Each country has own capital gains taxation system. Some countries have different rules for cfds, forex and stocks for example. While in stocks losses are deductable in forex they are not unless you trade in the name of a company.

For cryptos it tends to be that you pay taxes each time when you withdraw to your bank account. So you might not be able to deduct any losses, and you basically could lose 100% of your remaining cryptos and still pay the full taxes for the previous withdrawals =D

[Anonymous No.2269694]

serious question though, many times I made trades that lost me money but increased my bitcoin holdings. like i'd sense bitcoin was going to crash so I'd buy some tether, some monero etc then after it crashed i'd convert back to bitcoin. so going by bitcoin's price at time of trades I lost like 5% but if I hadn't made the trade I would have lost 15%. Is this taxable?

It's the IRS's own fault no one is paying this shit. It's the same thing with poker. Technically if you play online poker, every single hand you play should be recorded and taxed. This is so ridiculous that no one follows it and just pretends they weren't aware and only pay tax on their net income.

I think these organizations get off on having murky rules. Everyone breaks them and then they can target anyone they want for their own nefarious means. It's tyranny desu.

[Anonymous No.2269710]

Also, if you understand taxes, you won't be afraid to sell things at a loss from time to time.

[Anonymous No.2269733]

No one is paying taxes. Anyone who says they are is LYING!

PAY YOUR FAIR SHARE GOY, I WILL FIND YOU!

https://calvinayre.com/2017/03/21/business/court-docs-reveal-less-1000-people-report-irs-bitcoin/

[Anonymous No.2269746]

>>2269614
That will definitely work.

[Anonymous No.2269749]

>>2269684
Pfft you are actually paying it?


you're getting mugged off mate.

[Anonymous No.2269772]

>>2269733
Well, there would be probably a thousand ways to use bitcoins not withdrawing to your local bank account.

[Anonymous No.2269802]

>be in uk
>only have to pay taxes on crypto for capitol gains after ive made £11,500
>make £10k a year
>problem solved
honestly taxation is one of the leser cucked things here

[Anonymous No.2269803]

>>2269694
Making everyone a criminal so you can selectively prosecute political enemies , individuals or groups, is the goal not a side-effect.

Everyone knows they broke the law somewhere so they keep their heads down and never speak out.

It is a perfect system that will only grow from here. Every tech that comes along proclaiming to liberate us will be twisted to enslave us.

[Anonymous No.2269827]

>>2269802
are capitals gains free until 11.5k in uk?

[Anonymous No.2269852]

>paying taxes

[Anonymous No.2269869]

>>2269827
That is correct.

[Anonymous No.2269875]

>>2269827
>https://www.gov.uk/government/publications/rates-and-allowances-capital-gains-tax/capital-gains-tax-rates-and-annual-tax-free-allowances#rate-gain

>The annual tax-free allowance (known as the Annual Exempt Amount) allows you to make a certain amount of gain each year before you have to pay tax. Nearly everyone who is liable to Capital Gains Tax gets this tax-free allowance.

And this year that allowance for individuals is £11,300, was off by 200 quid

[Anonymous No.2269938]

>>2269772
Of course there are ways, and there are ways to still put that money to work, point is most anons are too retarded to figure that shit out, they will leave it to the last minute and get shitted on because nobody else ended up doing it for them.

95% of anons now can't be fucked reading a whitepaper, yet 95% seem to think they're somehow going to outsmart an office that professionally fucks this exact type of retard in the ass all day every day. By never paying attention to what they're doing they'll have racked up some ridiculous fucking bill and it will be too fucking late to do anything about it.

[Anonymous No.2269958]

>buy tracfone for all coin dealing
>make wallet on it
>only buy/sell crypto with cash.
>take battery out until away from the house
>switch between BTC and Monaro back to new BTC wallet monthly to cut any trail
>NEVER deposit cash in bank.

Nice try tax man

[Anonymous No.2269981]

By the way wingnuts. EOFY is upon us, if you have already mooned you may want to look at pulling some out now and copping the tax, you can then put that to work next year in such a way to turn a profit whilst giving you some means to offset next years CGT. You can easily find ideas using fucking google for opportunities that may be of interest to you. Stay on top of this shit all the time and you'll be fine. Or fucking ignore it.

[Anonymous No.2270003]

>>2269958
Like I said this kind of shit flies for poorfags, you havn't outsmarted the tax man, he just doesn't fucking care, you're less than a fucking bug to him, but if you're here thinking you're going to lambo you're going to need a better plan.

[Anonymous No.2270034]

>>2269827
In the US even poorfags get raped 30%

[Anonymous No.2270096]

>>2266673
France's highways are entirely privatized and tend to be in better shape than American interstates, with dedicated gas stations and restaurants every few miles.

The tolls are exorbitant though, with a third of the profits going directly into their pockets, and lack of space + guarantee of monopoly by the state stops the free market from developing any alternative. No matter what, with jews, you lose.

[Anonymous No.2270520]

Why is America such a communist country?

[Anonymous No.2270623]

>>2264744
The level of stupid in your post us truly impressive.

[Anonymous No.2270717]

>>2270034
Not if you hold the assets for over a year. We keep telling you to fucking hold you piece of shit.

[Anonymous No.2270759]

>>2270717
>passing on compound interest even if it means paying double digit fees