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/biz/ - Business & Finance

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29425146 No.29425146 [Reply] [Original]

Good evening fellow Chad's. How am I supposed to liquidate with out paying taxes? We need a general discussion on how to escape paying retarded taxes

>> No.29425367

>>29425146
dont tell the tax man

>> No.29425472
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29425472

>>29425146
could you glow any harder

>> No.29425627

>>29425146
I wont tell you how I don’t pay your salary glowie

>> No.29425723
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29425723

>>29425146

>> No.29425733

Convert to XMR, use a reputable darknet cash-for-crypto vendor, bury the cash or buy gold from a local flea market and bury the gold

It is almost certainly dirty money but better than getting fucked by the tax man

>> No.29425777

>>29425146
fuck off , glow nigger
your mother tongues nigger anus, BITCH

>> No.29425812

Buy cocaine off the dark net then sell it for cash. Or just buy gold from one of the many dealers who accept crypto.

>> No.29425837
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29425837

>>29425146
Live in Somalia

>> No.29425904

>>29425146
Make crypto hedge fund
Put long term HODLs in AAVE
Borrow USDC
Never pay it back except for risk management, deduct interest paid if you do

>> No.29425960

If all you have to pay was 15% on cashing out (no retarded american tax on eveey trade) would you do it?

>> No.29426088

>>29425146
Move to a cluntry with lax tax laws. Issue is you will need to sell some of your stuff now to afford the move/citizenship

>> No.29426121

NIGGER

>> No.29426234

>>29425146
Don't be american. Be a Hans like me and hodl for a year. No taxes.

>> No.29426270

>1099-B form (short term capital gains) not yet available
>did a shit ton of swinging this year
FUCK YOU IM GONNA FILE ANYWAY AND LEAVE IT OUT HAHAHHAHAH

>> No.29426388

Dont file, go off the grid in Ecuador.

>> No.29426827

>>29425146
lost my monero keys in a boating accident. 100% write off so sad.

>> No.29427555

>>29426827
truly tragic anon

>> No.29428168

>>29426827
sorry to hear that bro thats a lot of money just gone :/

>> No.29428275
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29428275

The IRS has ways to make you disclose your wallet.

>> No.29428330

>>29425146
Anon there was some next level guy a few months back on biz (around dec). I would advice to search the Worasu. Search for terms like Appleby

>> No.29428705

>>29425146
Glow harder tax weasel

>> No.29428915
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29428915

>>29425146

>> No.29430085

>>29425472
Not a fucking glowie. Trying to cash out 500k in crypto in the US to buy a fucking house and lambo nigger

>> No.29430207

>>29425904
Kek. Fuck off kike

>> No.29430279

Cash out a small amount and pay tax on it to get the money for plane ticket to third world shithole
Use SWIFT transfer from exchange to foreign bank account
Buy small property
Hire property keeper aka nanny maid etc
Get a good international debit card
Pay nanny maid etc to send you “gifts” in your home country aka Lamborghini

>> No.29430977

what is a glowie? i leave for six hours and you invent some dumb new shit?

>> No.29431894

>>29426270
You’re retarded for trading on a KYC exchange and even more retarded for not reporting it. You’re gonna get fucked.

>> No.29432949

>>29430977
The truth is, you've clearly never been here at all.

>> No.29433517

>>29425146
The short answer is you dont break the law.
The answer is collateralized loan. You need 2x to make it this way though...if you need 4 mill to make it,then you really need 8....like blockfi you need 2x collateral.

>> No.29433608

>>29425733
This, Monero is the way to go.
or find someone that can invite you to a tax free island

>> No.29433694

>>29430977
>whats a glowie
said the glownigger

>> No.29433739

>>29425472
Tax Avoidance and Tax Evasion are two very different things.
What OP is discussing is both valuable and necessary.

If you have any investments in crypto, you should certainly pay a CPA or otherwise qualified official to help you reduce taxation as much as possible.
Too many in this thread are saying, "buy cocaine" and "use XMR to evade taxation."
THOSE are the glows/retards in the thread.

>> No.29434196

>>29433517
>4mil is making it
Good god you people are awful with money.
How are your desires so frivolous? Do you seriously spend that much money?
Assuming you're as young as you could possibly be, you're planning to spend 70-80k per year for forty years without making any more money?

This idea that you need millions of dollars to "make it" and retire forever is absurd. The only people saying stupid ass shit like this are people that have no clue how to manage money, let alone form and stick to macro financial trends which accrue significant ROI sufficient enough to FIRE.

My god. I could easily be out of the wage cage TODAY with a measly $400k.
You people are ridiculous. What in the shit do you plan on buying?

>> No.29434355

>>29434196
kek oops
I meant to say fifty years...

>> No.29434454

>ctrl-f "eloc"
>0/0
Dummies, never sell. Get an Equity Line Of Credit (ELOC) instead.

>> No.29434586

>>29434454
please explain anon, i apologize for being such a retard beforehand, thanks

>> No.29434589

>>29434454
Anon, do you mind expaning on this please?
Saylor talks about this at least briefly and I wonder how it would work in a individual manner. He speaks from a commercial perspective, right?

>> No.29434813

>>29434196

The spastics will probably spend most of it on over priced Italian cars and gaudy consumer goods.

Money truly is wasted on those who lack taste.

>> No.29434869

>>29434586
>>29434589
literally a second mortgage.
It's peak boomer shit. You use your house as a credit card basically, and borrow against its value at interest.

>> No.29435130

>>29434196
I have close to $400k in just crypto holdings, not counting my car, retirement accounts, and a smal amount in ETFs and I don't plan on quitting work for at least ten more years. I make ~$250k annually

>> No.29435298

>>29434196
Some of us have families and live near metro areas.

>> No.29435318

>>29426827
Even if you convert to monero, how do you buy milk?

>> No.29435389

>>29434869
No... you leverage digital assets against a loan that has small interest, like 1% a year.
What brainlet would leverage with their house?

>>29435130
You must seriously adore your job.
I can't imagine willingly toiling like some goyim.

>> No.29435462

>>29435298
I'm pretty rural and would still need 2M plus to "make it".

800k left on mortgages for 2 houses, 1 kid with another on the way who both need to go to private school.

1 million is chump change in the grand scheme of things.

>> No.29435479

>>29430085
not sure about the US, but most sane countries don't tax you if you put that cash back into another asset

>> No.29435551

>>29435298
So, let me get this straight:
You're spending over 80k per year on your family and you're continuing to live in an overcrowded area where prices for literally everything are higher and you're not taking the millions of dollars you own and putting them to better use by taking your family and leaving the area in search for a more fitting economic situation?

This, my friend, is why you "haven't made it". It isn't because of the money you don't have. It's because you make awful financial decisions that do nothing but detriment your family.

>> No.29435937

>>29435462
if you want good quality stuff like education then yes, 1M is not a lot of money, 10M on ETF and making gains would do though.

>> No.29436069

>>29425146
Talk to a CPA dude.

If you have enough to justify cashing out for a big purchase, you need a tax professional anyway.

>> No.29436144

>>29435462
That's fucking absurd.
What's your income? How do you justify 800k in debt? Do you have enough to cover that if the bank collapses and comes to repo your home?
Why are you sending your kids to private school instead of home schooling? Does your wife have an income?
Are you at the very least renting or doing airbnb with the other home?...

Again, the issue here is your inability to better use your money.
If you have $1mil or so, you currently do not have to work anymore.
Take at least $600k right now and lend it via stableconis. This will get you anywhere from $60k-$120k per year.
Take maybe $300k and put it in normie money: property, divies, maybe start a business or do angel investing. I would hope this gets you at least another $20k.

There you go. I just set your income to 80-140k without you working, with $100k still left over and without your wife having a job.
You can still do airbnb with your other house. You can still invest that other $100k. You can still homeschool your kids (which saves you a bit more money per year. are we close to $100k floor per year yet?).

Even when you account for taxes, you're only taking out like 10-20% at best, which still leaves you with AT LEAST 60k in a year and that's without you losing any of your principal and still having another $100k of spending money.

I'd love to know how else you manage your "chump change" since you can't seem to figure this out.

>> No.29436152

>>29425812
>Or just buy gold from one of the many dealers who accept crypto.
Do those dealers snitch?

>> No.29436224

>>29425733
>Dirty money
But clearly the USD, financed by terrorism, big pharma and for-profit prisons for the last 60 years, is on the up-and-up.

>> No.29436333

>>29436069
>Talk to a CPA dude.
Why does this meme always come up? You can easily file yourself just using HRBlock website.

>> No.29436458

>>29434589
To do what saylor is talking about you need a business with assets to justify the leverage, and cash flow to allow for the repayment schedule.

>> No.29436642

>>29436333
Because they study the tax books for a fucking living you shitheel.

If you didn't get a good CPA, that's on you.

>> No.29436643

I have done so much retarded swing trading on metamask that I'm probably just going to neckrope before I figure it out. On the bright side, my cex trades are super simple and I got that all sorted out already.

>> No.29436916

>>29436643
There are services you can purchase which do all of this for you. It's likely quite worth the convenience.

>>29436458
As expected.
Seems pretty simple.

>> No.29436991

>>29425472
>g-goy you're glowing you better pay taxes
hmm let me think


NO

>> No.29437215

>>29436916
Really? Shit, I never really even looked. I've only ever done my taxes myself by hand so my brainletism has blinded me. I'm going to check that out and probably just finally bite the bullet and see a cpa. Fucked up from unemployment + contract work last year too.

>> No.29437321

>>29437215
Not having a CPA isn't really worth it unless you don't really have any income or money.

>> No.29437420

>>29436642
>le secret taxcode
its all the same dude, you pay whatever your bracket is on what your capital gains were. Only thing you could do is to wait for calender year to take some out to stay in a lower bracket.

>> No.29437429

>>29425146
there's a lot of ways out
i'll tell you none
good luck

>> No.29437489

>>29436643
Why the heck would you pay on swing trades on metamask?

>> No.29438530

Retarded question, if somebody made a stablecoin token that inflates itself to infinitiy at midnight on new years eve, then deflates itself back to normal right after, would that let you write everything down as a capital loss?

>> No.29438703

>>29438530
Yes that would work perfectly

>> No.29438837

>>29438703
Call it something like the Inflation Recovery Stablecoin.
IRS.

>> No.29439489

>>29425146
Do you have a 'made it' stack? In that case I would move to a country with low taxes before liquidating my crypto.