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

/biz/ - Business & Finance

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28987379 No.28987379 [Reply] [Original]

>Found out crypto to crypto is a taxable event
>Haven't paid in 4 years

>> No.28987434

>telling the tax office

>> No.28987452

>>28987379
Just dont pay. Jew the jews

>> No.28987484

Hello sir

>> No.28987625

>>28987379
Good luck trying to cash out any significant gains because they'll come for you and all 4 years. Get fucked

>> No.28987663

Who the fuck needs the government at this point?
/biz/ should buy an island, we sure have money for it.

>> No.28987668

>>28987379
Oof, how you made enough gains this year to pay! You've been keeping track of your transactions, right?

>> No.28987669
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28987669

>>28987379
>30% income tax on stocks/crypto gains
>up to 5% property tax when you have more than €1,000,000 NW
be glad you don't live in the netherlands

>> No.28987679

>>28987379
in for a penny in for a pound anon

>> No.28987744

just do your best anon

>> No.28988074

>>28987379
Put it all on a micro-sd card. Go to Europe, get a tan. Burn finger tips, claim to be a reffuuugeee. get new ID, get govt gibs, open bank account, get smart phone, create new coin account on exchange, import from micro-sd card in phone.

>> No.28988159

>>28987379
HOW DID YOU TYPE AFTER ROPING

>> No.28988278

>>28987379
Come to Portugal my man. Cheap country to live in and zero crypto taxes right now.

>> No.28988682

>>28988278
do you have to have lived there a certain amount of time first?

>> No.28988802

>>28988682
Don't know, to open a bank account I suppose you'll have to. Lot of crypto people coming in though, look into it. Super cheap to live here for a foreigner though, that's one part of the appeal too.

>> No.28988921

>>28987669
Alleen als je het van de exchange haalt of ook als je het omzet naar euro en het er op laat staan?

>> No.28989039

Now you listen to me NIGGER, Pay your taxes RIGHT NOW! Or i'm telling the tax office myself!

>> No.28989143

>>28988921
Nee gap ook als je laat het gewoon in jouw wallet staan
Als je meer dan een mil hebt moet je 50k/jaar+ betalen

>> No.28989256
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28989256

>>28987379
I have never filed taxes in my life

>> No.28990080

>>28989143
Tering ik ben nog een student, maar heb al 10k crypto en 25k aandelen gelukkig is de schaal opgeschroefd naar 50k dit jaar. Misschien toch maar Monero checken

>> No.28990143

>>28987669
>30% income tax on stocks/crypto gains
Box3 eikel

>> No.28990474

>>28988278
Anon are you still here

>> No.28990504

How the fuck will they calculate your taxes when exchanges (Binance e. g.) hold the trade history only for 3 months?

>> No.28990562

>>28990504
By you being honest

>> No.28990686

>>28988074
you forgot
>hide sd card in rectum

>> No.28990819

>>28990504
>>28990562
Does this mean you could take your money out of coinbase and transfer it to binance and hold it for 3 months? `

>> No.28990862

Just don't pay. Cash out at a bitcoin ATM.

>> No.28990950

You'd actually pay less tracking every trade and recording the profit/loss than ignoring it and just paying tax on your final gains. If you don't track your trades you lose your cost basis and would have to basically pay income tax on some of your gains.

>> No.28990957

>>28987379
buy high and sell lowl, say you lost and donated it to others on the exchange then you might get a refund

>> No.28990970

>>28990819
Yes. You'd have to be a sucker to pay tax on crypto.

>> No.28991081

>>28990562
Most of my trades are on bittrex. I think they keep them forever.

>> No.28991293

>>28990950
This. People here are manchildren who lucked into money.

If you had to cash out properly a good accountant could sort this shit out for you.

>> No.28991342

>>28990970
Based CZ

funds are safu

>> No.28991370

>>28987379
Just pay the tax when you cash out. If they come after you say to didn't know what you were doing. As retarded as it sounds, but reporting incorrectly is a worse offence than not reporting at all. The very worst case would be to shell out $3-4k on their lawyer and a 20%ish interest penalty. Now, you also have a lot of tax relief programs.

>> No.28991620

IRS wants 100k from crypto to crypto trades from 2017. Reported but didn't pay. They sent a letter but haven't heard shit otherwise. Can't believe people actually cash out their crypto to pay these goons

>> No.28991712

>>28990562
Naive sucker

>> No.28991797

Guys I think I have found a very promising coin. It has a low market cap and it is still undiscovered, DeFiat.
Please do your own research and don't trust me this easily. But do your own research and earn some easy money. Dont be a sleeping sheep, but be the smart one. https://www.coingecko.com/en/coins/defiat

Make some money on this gem, so you don’t need to use the rope ;)

>> No.28991893

>>28987379
>Found out crypto to crypto is a taxable event
they have no way of knowing. Treat it as a single fiat to crypto to fiat transaction

>> No.28991938

>>28987663
We do. It’s called puerto rico

>> No.28992187

>>28988278
Fuck yeah! Just dont be black or muslim we dont need anymore of those

>> No.28992215

>>28987669
Untrue kankermongool

>> No.28992278

>>28987663
Now there's an investment i can get behind

>> No.28992281

>>28988921
Nog zo’n domme kankermongool
>wat is google
>wat is begrijpend lezen

>> No.28992350

>>28989143
Ja man box 3 is 5% kankerbrainlet
>>28990080
Mbo is geen studie

>> No.28992410

>>28987379
if they havent sent you a letter yet you're porbably fine, just stay away from kikebase

>> No.28992558

>>28991620
>giving up on 100k of taxes that you reported of your own volition
I really doubt it

>> No.28992624
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28992624

>>28987379
>Tfw i don't need to pay tax because i buy high and sell low
Get fukt IRS

>> No.28992640
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28992640

>>28987379
>Haven't filed taxes yet and panic bought/sold like a maniac last year
>Positive my capital gains are heavily outweighed by my capital losses

Can't tax what I don't have. They can have my assblaster.csv file to see all my huge losses from yfi clones if they want proof.

>> No.28992733

I gotta know /biz/ friends. What can I expect to pay % wise of my investment? Am I going to be paying 30% per thousand I invest? Lets say I invested 1000 in 2021 am I going to owe 30% on that if I traded a little bit (never cash out though)

>> No.28992984

>>28992733
capital GAINS tax. only calculate off the gains. in 100 out 200, gain 100 30% is $30. extrapolate for personal situation

>> No.28993032

>>28991620
Larp, but good luck if not. They garnished my wages over like $200 that I apparently filed incorrectly and didn't pay lmao

>> No.28993104

>>28987434
>>28987484
First posts, best posts

>> No.28993467

>>28987379
IRS audits go back 3 years. So if you file 3 years in a row and are lucky enough not to get audited, you should be in the clear. If they find an error in the past 3 years, then they go back 6 years instead so be as accurate as possible from now so they don't go back any further.

I didn't do capital gains 2013-2018 cause I originally had no idea what that meant,a nd until recently only thought it applied when cashing out. Hodl'd 2019 so nothing to report then. So on the initial reported long term gains in 2020 and 2021, I'm taxing the full value as capital gains, not just the gains from the previous unreported trade. That way it's impossible to under-report and it will effectively pay off any unpaid taxes incurred in previous years. That way if I'm super unlucky and get audited this year or next, they can't really claim I owe anything I haven't already paid.

I don't mind paying an audit fee I just don't want to go to prison over some retarded mistakes.

>> No.28993533

>>28987379
Anyone know what the law is in Mexico? I keep getting conflicting information
>implying I'm paying them taxes
desu, I'm more worried about the exchanges having my info

>> No.28993609

>>28993533
I don't think you guys really have laws down there bud, you should be good.

>> No.28993683

>>28988921
I fucking hate Dutch people. Speak English you cunts.

>> No.28993687

>>28993467
I don't remember agreeing to these terms or even being taught about them

>> No.28993775

Taxes provide YOU with necessities you utilize every single day of your life.
Pay your fucking taxes. You only tax the actual gains i.e. shit you didn't do fuck all to increase.
Do you want to live? Pay taxes. This isn't a video game, real people pay real taxes and this is how society functions.

>> No.28993799

>>28993687
Yeah the first time I bought Bitcoin was early 2013 with cash from a guy in a library. No one wrote these rules under after I started buying drugs with it. Imagine my surprise years down the line.

>> No.28993888

>>28993533

you don't need to report shit in Mexico, doing that for 7 straight years...

>> No.28994015

>>28987379
My ignorant opinion is it seems illogical to tax crypto to crypto since it's not federal money. They can't tax what doesn't belong to them. The only taxing that should ever be done is when you withdraw federal currency (USD) from a platform. Then you're in federal income territory and taxable. Government taxing of crypto is as retarded as the government taxing gold in an mmorpg.

>> No.28994108

>>28993533
>>28993888
afaik you do have to report overall gains if you do cash out into your bank account. But I get conflicting information, that you need to do it for every investment gains, or that you only need to do that for gains over 100k pesos.

Also not sure how am I supposed to report crypto gains from Binance, since they won't give you a CFDI. I think Bitso does give you a CFDI?

>> No.28994121
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28994121

>>28993775
yes society functions by giving money to people like this walking fucking skeleton so they can somehow make this state even worse than it already was and be entirely ineffective with every dollar we give them
fuck off moralfag

>> No.28994150

>>28993775
Lmao cuck

>> No.28994182

>>28993775
But I don't like how society is currently functioning.

>> No.28994280

pay taxes for literally existing and buying anything at grocery store
people still feel entitled to even more of your money when you risk it all

>> No.28994301

>>28993467
that's not true. statue of limitations for fraud is unlimited. still not paying my taxes.

t. accountant who had the misfortune of taking classes on personal and corporate income taxes

>> No.28994379

>>28994121
>>28994150
If you disagree with how tax money is used in your country this is a separate issue. Don't fucking pretend you don't use your country's infrastructure or that you don't depend on the police or fire department to save your ass if you're in trouble.

>> No.28994457

>>28988278
What part of Portugal do you recommend?

>> No.28994505
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28994505

>>28987379
I'm not planning on making any major cash outs until I have enough to hire the finest Jewish lawyers and accountants to get me off the hook.

>> No.28994584

Taxes are too damn high I bet I've paid $150k in my life in federal income tax and what do I get for it?

>> No.28994803

>>28993775
>Taxes provide YOU with necessities you utilize every single day of your life.


>Drive 30min into a certain shithole East Coast city
>Pot holes everywhere on roads that haven't been fixed for years
>Niggers everywhere in failing schools where they don't even have enough books for too many students that can't even read
>Trash and graffiti everywhere with piss smelling subways
>Public transport is repulsive and at times, dangerous
>Politicians send money to Israel, and Pakistan and Iran for "gender programs"
>Billions spent on blowing up pakis for oil we no longer need, until BIden bans natural gas
>Taxes flooding towards racial "sensitivity" reeducation and diversity programs
>Transgender programs

Gee, never thought about just how much I get out of tax dollars. At least I got $600 back to help with unemployment once Corona finishes tanking an economy that never should have been shut down!

Yes, I'm fucking mad. Wouldn't you be if someone took your wallet, slapped you across the face with their dick, then demanded you suck it and be grateful for the chance?

>> No.28994897

>>28994457
Algarve is the historical tourist hotspot. A ton of British there to retire and pass the holidays.
But now Lisbon and Porto are also huge hotspots too, until pandemic hit.
I don't recommend any over the other in particular. I personally love Porto. Lisbon is nice but has a growing colored people problem. Algarve has amazing weather but no major city.

>> No.28994926

>>28994379
>don't use your country's infrastructure
I hardly leave my house other than groceries
>don't depend on the police or fire department
I don't. I live in a rural area, the nearest PD is 25+ minutes away.
If there was a problem the last thing I'd do is waste my time calling 911 so some fat undertrained fuck that hasn't passed a fitness test in 20 years can show up 30 minutes late and shoot my dog or something.

>> No.28994958

>>28993775
Good b8

>> No.28994995

>>28993775
This person prefers to suck circumcised cocks.

>> No.28995031

>>28989256
hah how did you get away with it?
you do work right?

>> No.28995034

>>28993775
Shut the fuck up you fucking retard. Paying tax on crypto to crypto trade is bullshit.

>> No.28995146

>>28988074
>All that
Just go to sweden and tell them that they're racist and you get in. If you lost your passport into the ocean, a drawing will be sufficient

>> No.28995171

>>28987379
>NEET
> 0% long term capital tax on zero income
> practice trading
> Turn 1000 into 500000
> Hold BTC for the final guaranteed bullrun of 2021 as has been stated for four years
> Cashout with 18 million

>> No.28995211

>>28994379
Checkmate, I'm a Democrat. I personally defunded the police by setting it on fire. And we will be coming for you, you litteral nazis.

>> No.28995233

>>28994301
I'm not talking about statue of limitations, I'm talking about IRS policy. An audit is 3 years by default. If there's a significant mistake they make it 6 years. And the statue of limitations isn't unlimited either, it's 10 years, which is how far back they can go if they find further fuckiness after going back 6. You should probably know this if you're in finance professionally. Google it.

>> No.28995238

>>28993609
That's what I've been running with so far, lel.
>>28993888
Checked. I did some research and while you should be able to not pay local authorities, you SHOULD pay taxes on foreign gains, e. g. If you have a Bitso account, apparently you need to pay taxes to the U.K. because the company that does transactions is based on Gibraltar.
>>28994108
>CFDI
No idea, gonna check up on that. I'm not planning on cashing out soon, but this has become a nagging doubt in the back of my mind. Maybe I should move my swinging to DEXs just to be safe...

>> No.28995281

>>28992733
It is very likely nowhere near as bad as you think.
Seriously.
You stop wondering, just go on koinly.io, enter all your wallets and hit the button, stop imagining the worst.

>> No.28995357

>>28987669
My state (Washington) is one of the few with no income taxes. Seattle has being trying to pass one forever but the voters always reject it. Now, they're trying to pass a fucking capital gains tax, to open the way for even more income taxes. God I fucking hate Seattle. It's just north san francisco.

>> No.28995450

>>28990504
But you can get your entire transaction history exported easily from Binance going years back?

>> No.28995452

>>28988074
>Not just memorizing recovery phrase. Ngmi

>> No.28995504

>>28995171
>neet
>buy low sell high
>turn $1 into $500000000000000
>Hold BTC for the final guaranteed bullrun of 2021 as has been stated for four years
>cashout
>USD worthless
>do it over again

>> No.28995661

>>28995233
>Statue of limitations

>> No.28995821

>>28995661
Autocorrects don't change facts

>> No.28995858
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28995858

>>28987379

>> No.28995962
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28995962

>>28993775

>> No.28996020

>>28990686
This is the most important step and he forgot it.

>> No.28996174

>>28993775

lol fuck society you thieving leech. coming in with a gun demanding money and acting like youre the good guy, unironically kill yourself you mongoloid goyim

>> No.28996254

>>28993533
same bro, ive been selling shit on the internet probably since ML was created and have not paid a cent in taxes until now that they include them in every sale.

Some months i had sales over 60k mxn but nothing happened, i think if you cash out small amounts every month you wont get caught. Try to cash out 500k mxn in a month and they will get you.

Also i have bank accounts in every bank possible to keep the amount lower, even have some in cetes and used to withdraw money and exchange to usd i have a secret stash at home, but now that the usd is going to collapse i dont think is a good idea to hold.

>> No.28996291

>>28987379
>cashing out

>> No.28996581

>>28993775
absolutely baste, neets above all should understand how important taxes are

>> No.28996678

>>28994121
You can just tell this bitch rides like a slut.

>> No.28996725

>>28992187
I'm coming anyway

>> No.28997227

>>28995450
no, you can't.

>> No.28997312

>>28987663
>literally a frens zone

Unironically I would second this. What a clown world this is.

>> No.28997508

>>28990970
we talking binance us or just binance and use a vpn?

>> No.28997696
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28997696

>>28994803
Good post

>>28993775
Society does not equal government stop conflating the two especially with the level of waste and embezzlement government engages in (administrative offices lavish while hospitals and schools fall apart and minister of infrastructure allocating overpaid funds to his own construction company).

YOU PRO TAX PRO STATE FAGGOTS ARE ON A BOARD ALL ABOUT DECENTRALIZATION THROUGH BLOCKCHAIN AND THE IMPLICATION IT HAS FOR THE FUTURE ORGANIZATION OF SOCIETY YOU ARE A RETARD AND SHOULD BE GASSED LIKE A JEW FOR NOT REALIZING THIS. ALL LEFTIES SHOULD BE KILLED YES THIS IS A THREAT ON YOUR LIVES

>> No.28997726

>>28997227
Yes, you can.
Follow these steps to download your transaction files:

Sign in to your Binance account and click on Wallet > Overview on the navigation bar
Next click on Transaction History (in the top right corner)
Now click on Generate all statements (in the top right corner)
On Range select Customize and enter the start/end date of each year (max 1 year history can be downloaded at a time)
Click on Generate and wait for the report to be generated
Repeat the export for every year you have been trading on Binance

>> No.28998882

>>28993775
>Taxes provide YOU with necessities you utilize every single day of your life.
nice half truth cocksucker, taxes over 10% flat tax are literal theft, even God doesn't charge that much. They steal our funds to prop up their global secret cartel to enslave us and our progeny. If they spend our money so well why are they trillions in debt? You're an idiot and deserve to be robbed

>> No.28998919

>>28997227
retard, maybe YOU can't because you just started trading last month

>> No.28999001

I saw you post the same thing yesterday

>> No.28999133

>>28992187
Mixedfag, on my way fren!

>> No.28999332

>>28992350
>geschroefd naar 50k dit jaar. Misschien toch maar Monero checken

kheb misschien 100k +aan crypto moeten we serieus tering veel bbelasting betalen?

>> No.28999475

>>28988159
audible nose air

>> No.28999498

>>28999332
wat is nederland toch een KUT land

>> No.28999852

What if you mined it?

I never paid for any LTC.

>> No.28999933
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28999933

>>28993775
>

>> No.29000074
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29000074

>>28994584
This is what you get. Hope you enjoying being a pay pig for the walking whales.

>> No.29000278

>>28994803
based

>> No.29000858

>the value of cryptocurrency is only based on what people say it's worth, it has no intrinsic value
>exchange two different cryptocurrencies
>Oy vey that crypto is worth money because we said so. Pay up goy.

>> No.29001170

>>28993775
I'm just paying the tax from my initial investment to what I sell.

>> No.29001400

>>28995357
You WILL support the joggerinos

>> No.29001439

>>28987379
use monero to send all your money to a private wallet, memorize your mnemonics, fake your death and go live in brazil or something

>> No.29001458

>>28987379
Pay them in and arbitrarily number of 4 year old shitcoins.

>> No.29001615

>>28990562
lol

>> No.29001789

>>28994803
Seems you are clinically retarded. If you check the balance sheet of the US over 50 percent is spent on military. Want to complain about corruption and waste? Complain about that.

>> No.29001807

>>28987625
This is what worries me the most. I have some hopeful coins that I want to cash out in 2 or 3 years but I know if I don't report my swaps for this year, the fuckng jews at the IRS will probably nail me on it when I cash out (hopefully a lot) down the road. I know for certain I will get audited if my income all the sudden increases manifold.

>> No.29001856

>>28994121
how did her boobs get so big?

>> No.29001882

>>28999332
Gwn naar Monero wisselen. Simpel.

>> No.29001960

>>28987663
Count me in if it's whites only

>> No.29001984

>>28994379
Paying taxes on America is extremely chucked. Don’t care about another another aircraft carrier minorities

>> No.29002031

>>28993775
Taxes primarily exist to support women, men do not benefit from the US tax system. Don't be a faggot

>> No.29002108

>>29002031
>>29001984
ok retards, keep us posted

>> No.29002267

>>28987379
If you made less than $40,000 per year there is no capital gains tax. If you made more than that the tax penalty for not filing is .05% from what I hear.

>> No.29002358

>>29002267
You have to pay capital gains tax on all crypto sales in America.

>> No.29002598

>>29001789
You are such a fool. 60% is spent of gibs.
Military is a big part of the discretionary budget, not all.

>> No.29002712

>>28987379
DELETE THIS RETARD THIS WILL USED AGAINST U IN COURT WHEN U PLEAD "I DIDNT KNOW"

>> No.29002743

>>28987379
Move to Nevada, Alaska, etc

>> No.29002791

>>29001789
discretionary spending is determined each year which is way less than total spending. total spending is way way more gibs/education. those are pre signed into law to be funded each year. discretionary budgets get debated/changed every year. read a book nigger

>> No.29002793

>>29002267
Is that for short term also or only long term?

>> No.29002795

>>29002358
Are you sure about that? The way I understand it is that if your income is under $40,000 single file and $80,000 joint filing you don't have to pay capital gains. I know that's definitely the case for earning dividends. I figured it would be the same for crypto as well.

>> No.29002818

>>29001960
this

>> No.29003142
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29003142

>>28987379
>op files taxes normally now,
>files taxes for three years
>third year gets audited
>they see some problems
>'but I had no idea what I was doing g I dindu nufin." - op
>'well sir, you're post on 4chan says you did know at this time and you didn't turn yourself in' - some female irs agent

>> No.29003166

>>29002793
That's a good point. I'm not sure. This is the policy on gains made by dividends (probably long term) so it may actually be different for crypto. I'm not a tax guy. I'm going to have to look into this a little more for myself.

>> No.29003272

>>28991893
If I bought BTC with fiat, then did a bunch of trades with alts, then went back to BTC and cashed out to fiat, would the IRS be able to tell that I made a bunch of trades? I just want to pay tax as if I bought and held BTC and then cashed out.

>> No.29004371

>>29003272
My general thinking here is if Koinly.io can import all of my Coinbase and Metamask transactions just from me providng my wallet addresses, then the kikes at the IRS would have little trouble getting all of that information as well.