Just a reminder that even rich Hollywood stars get sent to jail for tax avoidance. What makes you think some NEET has a chance in ducking uncle Sam his cut?

File: 107 KB, 540x632, Wesley-Snipes[1].jpg [View same] [iqdb] [saucenao] [google]

Anonymous Thu Mar 15 00:22:58 2018 No.8350354 [Reply] [Original]

Just a reminder that even rich Hollywood stars get sent to jail for tax avoidance. What makes you think some NEET has a chance in ducking uncle Sam his cut?

>>	Anonymous Thu Mar 15 00:23:40 2018 No.8350367 >>8350354 Just a reminder that this was the glory days of the IRS before technology swiftly jammed a foot up their ass

>>	Anonymous Thu Mar 15 00:24:41 2018 No.8350384 im not black

>>	Anonymous Thu Mar 15 00:25:03 2018 No.8350396 >>8350354 How did it happen? Someone that rich should have his own tax attorney.

>>	Anonymous Thu Mar 15 00:25:04 2018 No.8350395 >>8350354 They won't spend thousands going after a NEET when they could spend that same amount of money on someone who is evading millions. Everything is automated these days anyway. The system searches for irregularities and proceeds accordingly.

>>	Anonymous Thu Mar 15 00:26:06 2018 No.8350409 >>8350367 explain

Anonymous Thu Mar 15 00:29:22 2018 No.8350475

>>8350409
snipes getting done = 90s or early 00s I forget
situation today = pandoras box of anon tech + mass adoption, multiple jurisdictions leading to inability to cope with overwhelming data ala piracy enforcement

pretty entertaining sitting on the sidelines desu fampai

>>	Anonymous Thu Mar 15 00:30:01 2018 No.8350489 0 capital gains tax

>>	Anonymous Thu Mar 15 00:34:24 2018 No.8350575 >>8350396 He tried that sovereign citizen bullshit.

>>	Anonymous Thu Mar 15 00:35:26 2018 No.8350584 >>8350475 He was convicted in 2006.

>>	Anonymous Thu Mar 15 00:37:31 2018 No.8350615 >>8350575 >sovereign >citizen choose one anyone that gets sucked into that obvious honeypot needs to do better research with better keywords :^) >freeman >on >the >land

>>	Anonymous Thu Mar 15 00:39:46 2018 No.8350641 >>8350367 The IRS has much better technology now retard. They even get data from the NSA's spy grid now.

Anonymous Thu Mar 15 00:41:59 2018 No.8350673

>>8350641
yeah no shit the surveillance state is all pervasive
>They even get data from the NSA's spy grid now
kek, really?
Who could have known?
post snowden
post manning
post echelon
post five eyes
you dont say.

kek
gb2facebook where your scare tactics might actually work

>>	Anonymous Thu Mar 15 00:45:46 2018 No.8350732 >>8350673 Scare tactics kek. What are you scared of if you already know all of that?

>>	Anonymous Thu Mar 15 00:51:08 2018 No.8350829 >>8350395 Why would it cost thousands? The exchanges are literally giving the IRS details on every single trade.

>>	Anonymous Thu Mar 15 01:03:57 2018 No.8351053 >>8350732 Good point. Why be scared?

>>	Anonymous Thu Mar 15 01:05:06 2018 No.8351068 >>8350354 Hollywood stars are prime targets since they always flaunt their wealth and are a target by the government due to their social influence. The government doesn't care about a NEET that cashes out 5/low 6 figures.

>>	Anonymous Thu Mar 15 01:05:17 2018 No.8351072 >>8350354 This your 5th tax fud thread tonight?

>>	Anonymous Thu Mar 15 01:05:26 2018 No.8351074 File: 71 KB, 700x886, sniped.jpg [View same] [iqdb] [saucenao] [google] >>8350354

>>	Anonymous Thu Mar 15 01:13:12 2018 No.8351201 >>8350354 Why do you queers keep posting about taxes? It's not due for another month. We'll be into another bull by then, anyway.

>>	Anonymous Thu Mar 15 01:29:10 2018 No.8351465 It's extremely easy to avoid paying taxes on crypto

>>	Anonymous Thu Mar 15 01:34:55 2018 No.8351569 >>8351465 do tell, faggot

>>	Anonymous Thu Mar 15 01:37:26 2018 No.8351617 File: 36 KB, 800x600, 1495356314673.jpg [View same] [iqdb] [saucenao] [google] >>8351569 >buy things with crypto >sell them for cash

>>	Anonymous Thu Mar 15 01:38:47 2018 No.8351626 >>8350673 I thought /biz was all P&Ders and pajeets. We need more folks like this guy from pol who actually know shit, not the little kids we have now.

>>	Anonymous Thu Mar 15 01:41:03 2018 No.8351660 >>8351569 avoid exchanges, credit card transactions and you're done

>>	Anonymous Thu Mar 15 01:42:59 2018 No.8351687 >>8351626 Post some thots, save /biz/ from plebbit normies. The board culture that led to insiders has been raped for a while now. I am sorry if this offends /lgbt/. But they are part of the problem ;^)

>>	Anonymous Thu Mar 15 01:44:39 2018 No.8351717 >>8351569 someone i know personally plans on cashing out to gold bullion and then if they ever need fiat selling locally. fuck the tax man

>>	Anonymous Thu Mar 15 01:54:58 2018 No.8351860 >>8350673 >>8351626 >>8351660 What's with all the tax BS recently on this board, who the hell says were cashing out kek.

>>	Anonymous Thu Mar 15 01:55:37 2018 No.8351869 >>8350354 I hope they come after me to pay me the tax I am owed because I'm below my initial investment.

>>	Anonymous Thu Mar 15 01:55:59 2018 No.8351876 >>8350354 The only thing they could pin to al Capone was tax evasion IRS is no joke, just pay

>>	Anonymous Thu Mar 15 01:56:56 2018 No.8351885 >>8350641 why do you buttcoiners sound so salty all the time it's so odd, it's like radiating from the letters or something.

Anonymous Thu Mar 15 02:19:26 2018 No.8352194

>>8351717
Good luck on more than 10K in bullion. The places that convert crypto to bullion follow the same rules as they have to, selling commercially. And, bullion traders HAVE to have you fill out a form for orders over a certain size. You can thank the shithead muslim terrorists for that, the Feds and the governments of other countries are way up bullion dealer's asses because of their shit.

Every single person on here who thinks they have it figured out, is going to get cornholed dry if they try to launder more than 10k. The public isn't even sure of what the governments have in place to track money, especially across borders, but hurr derrr, right, kiddies?

I'm gonna laugh every time there's a story of a fat pasty skinned neet being frogmarched in an orange jumpsuit, arrested tax evasion and fraud.

Anonymous Thu Mar 15 02:42:40 2018 No.8352529

>>8350615
lel when I was in highschool they made us read this book "man without a country" and the teachers pretty much said if we don't like American laws and lifestyle that means we don't want to be american citizens that means we belong drowned in the ocean.

>>	Anonymous Thu Mar 15 02:46:31 2018 No.8352600 >>8352529 vote with your feet aka leave if you dont like it

>>	Anonymous Thu Mar 15 02:47:26 2018 No.8352613 >cashing in crypto for FIAT oh i am laffin

>>	SAGE Thu Mar 15 02:55:46 2018 No.8352744 >>8352600 You know they do a full IRS audit on you before they decide if you are allowed to renounce your citizenship or not.

>>	Anonymous Thu Mar 15 02:58:03 2018 No.8352771 >>8352744 and how is the IRS going to audit your crypto stack?

>>	SAGE Thu Mar 15 03:00:19 2018 No.8352801 >>8352771 ever traded on any us exchange ? EVER ?

Anonymous Thu Mar 15 03:01:59 2018 No.8352828

>>8352801
>the only exchanges that exist are US
>the only exchanges that exist require id
>the only exchanges that exist are centralised
>the only way to get crypto is though an exchange
>you MUST give yourself up

thanks for the window into a statists mind anon

SAGE Thu Mar 15 03:05:08 2018 No.8352857

>>8352828
Right because when you first got into crypto, you just bought all of it off a decentralized exchange right ? You never became part of the system. no one ever bought their first crypto off of Gen or Coinbase...
Please let us know what exchanges have the volume and don't report to Know your Customer ?

>>	Anonymous Thu Mar 15 03:05:20 2018 No.8352858 File: 17 KB, 640x387, 0ecefa24258b0d9604d843b779e0ab0f.jpg [View same] [iqdb] [saucenao] [google] >>8352828 oh shit you just rekt that faggot so hard

Anonymous Thu Mar 15 03:05:37 2018 No.8352861

>>8350641
>Just a reminder that even rich Hollywood stars get sent to jail for tax avoidance.

No they dont. And not only that even if they did they would be fucked. It doesnt matter how good the tech is. They wont be getting the money because they wont have access to it.

Anonymous Thu Mar 15 03:08:06 2018 No.8352888

>>8352857
>please spoonfeed us because we're out of our depth in this new economic environment and are dedicated to keeping the illusion of our jurisdiction alive
maybe no, hmm?
What's it say when an impartial observer that pays attention is able to run circles around obvious tax shills without even having to experience any of it?
kek

>>8352858
kek you sound like a taxcuck waving his dick about how I've fucked myself when in reality all I am doing is asking questions ;^)
Or maybe I am too much of a pessimist

Anonymous Thu Mar 15 03:08:44 2018 No.8352895

>>8352194
>Every single person on here who thinks they have it figured out, is going to get cornholed dry if they try to launder more than 10k.

No they are not. And on top of that the IRS is powerless in this situation. They are going to flail around in panic mode for a few years and clamp down on innocent people and destroy lives and gain little to nothing for it while the only people who are punished are the honest ones.

Anonymous Thu Mar 15 03:09:41 2018 No.8352904

Anyone wanna chime in on my implications?

Bought around 1.8BTC-- accumulated @ various prices. Sold on coinbase at a loss(2-3%) and bought ethereum.

Moved eth to bittrex-- and ultimately traded around and wound up back at square one--- 1.8BTC.

That's what I have today.

If I were to cash out, is there anyway to wind up fucked? Or would I only be liable for the gains I've made from BTC $ Increase?

Tl;dr--- Bought 1.8BTC. Traded into other coins, to no great gain-- typically loss.

Today i own 1.8BTC-- What could I get fucked by?

>>	Anonymous Thu Mar 15 03:10:01 2018 No.8352910 >>8352801 They cant audit your stack though. its not possible without using torture techniques on people with memorized keys.

>>	Anonymous Thu Mar 15 03:12:30 2018 No.8352940 >>8352910 yeah I am sure that would go down well with the mainstream >IRS torturing citizens for their private keys that would probably lead to the dissolution of the IRS into smaller, specialised departments ;^)

SAGE Thu Mar 15 03:13:13 2018 No.8352945

>>8352888
Yeah whatever man. Bittrex is 100% compliant as per the rules of Washington State. Any exchange that is Available in Washington State or New york State is reporting to the IRS. FACT.
So let's go back 2 years. Where did you buy your ETH or BTC ? Coinbase, Circle, Genesis, Bittrex, Kraken..

ALL REPORT IP's.. So yeah once you are in you can move to decentralized exchnages BUT they have no volume. Bitshares, openledger and Waves were about all that existed a year ago.. So how did 99% of the people trade ? On centralized exchanges that report to the IRS.

>>	SAGE Thu Mar 15 03:15:19 2018 No.8352973 >>8352910 They don't have to audit your stack. You do understand that the IRS is different than all US law. You are guilty until proven innocent. They don't have to prove shit. You do.

>>	Anonymous Thu Mar 15 03:17:12 2018 No.8353000 >>8352945 >foreign exchanges >reporting to IRS

Anonymous Thu Mar 15 03:17:57 2018 No.8353007

>>8350354
Apart from the fact that taxes make up a huge part of consumer good prices, the tax thieves tend to go after the larger fish where I live in Eastern Europe. Still, even if you're in America/W.Europe, I think you'd have to be a brain-dead willing slave to let yourself be extorted from. I've seen people on this board say they will report each trade they ever made on an overseas exchange that doesn't require identification. Who's forcing you to do that? Why aren't you using crypto to hide your profits from these criminals? Why don't you move to a tax haven? I mean, if you're so dumb as to still think government is necessary, you totally deserve it. But if you understand that taxation is theft, there is a million ways you can avoid it.

Anonymous Thu Mar 15 03:18:24 2018 No.8353016

>>8352945
Yeah you're listing off exchanges that require ID and link bank accounts as if they are the only ones in existence
its almost as if you can't actually acknowledge the chance that people slipped through the cracks because it would destroy your argument that the IRS is an all knowing all seeing omnipotent force to be reckoned with

> So how did 99% of the people trade ?
And how many actually reported to the IRS? what was it, like 300 odd people?
Tell me, what happened to piracy? Was that stamped out or was it so pervasive that it overwhelmed bureaucracy and noone really gets done for it?

You can frame the world as being cucked by tax agents all you want
The reality is that crypto was made to divorce people like you from the power you use as a weapon agains the common man
and it sure does rub you up the wrong way doesnt it?

SAGE Thu Mar 15 03:22:05 2018 No.8353060

>>8353016
>You're listing off exchanges that require ID and link bank accounts as if they are the only ones in existence

Are we talking about future taxes or are we talking about crypto purchased and bought and sold a year or two ago ?
What exchanges could you buy bitcoin on as an American 2 years ago that wouldn't show up on your credit card or bank account statement ?
The IRS isn't all knowing but if your crypto ever hit a know your customer exchange then it's very easy to track your BTC addresses, email addresses and IPs.
If you were starting now, I wouldn't even know how to go about getting 50k worth of crypto from an exchange that doesn't report.

Anonymous Thu Mar 15 03:22:40 2018 No.8353064

If you are seriously concerned about it go and hire a Crypto CPA to do your returns.

>https://bitcoin.tax/cpa

Honestly though unless you are one of the "whales" you shouldn't have anything to worry about if you don't want to. The IRS only knows what you tell them...

Try and think of it in terms of how the DEA figures out who to go after. They want the BIG fish which I can tell you is maybe 5% of the posters on this board. They are going after darkweb people that sell fentanyl, heroin, coke, meth etc. they aren't going to come knocking on your door because you bought a couple tabs of acid, it isn't feasible.

OR think of the NSA / FBI / CIA If you had a magic computer that let you spy on anyone it is pretty safe to assume that pretty much everyone is doing something really messed up they wouldn't even know who to even go after.

FBI hasn't stopped any of these shootings because they can't keep up with the tips or info they have received.

People that don't have adjusted gross income are more likely to get audited so if you are a neet crypto trader I would find a part time job to lower the likelihood of getting audited

>>	Anonymous Thu Mar 15 03:23:58 2018 No.8353082 >>8353060 Dunno man, I am just asking questions since it seems like there is a tax boogeyman looking to fuck everones ass despite not being able to find them to begin with

>>	SAGE Thu Mar 15 03:24:44 2018 No.8353090 >>8353064 for now... What happens when that 5k of BTC turns into 200k and you want to buya car or a house ? Then what ? You have a ZERO cost basis and you will get hit hard.

>>	Anonymous Thu Mar 15 03:25:27 2018 No.8353099 >>8352940 Its probably going to happen. They are really no bullshit in a fucked in this.

>>	Anonymous Thu Mar 15 03:26:55 2018 No.8353119 >>8353090 195k gains versus 200k gains sure makes a difference lol

Anonymous Thu Mar 15 03:27:39 2018 No.8353123

>>8352973
Yeah they do, if they intend to get the money. Otherwise all they have is a pissed off person who is being misstreated based on the idea that the IRS is going to be allowed to begin taxing concepts.

Taxing concepts is a whole other debate beyond taxation being theft ect. Being allowed to tax a concept such as a digital good is WELL AND BEYOND fucked up. They have to change their methods or they will be unsuccessful.

>>	Anonymous Thu Mar 15 03:29:26 2018 No.8353145 >>8352895 Oh look, wishful thinking. LOL.

>>	SAGE Thu Mar 15 03:30:02 2018 No.8353153 >>8353123 Yeah lots of people argue that in jail each year. Tax evasion isn't a new concept spawned by crypto.

>>	Anonymous Thu Mar 15 03:30:38 2018 No.8353164 >>8352904 If you return the same amount that you entered with, it's a wash, tax-wise. You'll probably need to file all of your transactions, which is a pain, but that's the price of trading.

>>	Anonymous Thu Mar 15 03:30:38 2018 No.8353165 My biggest worry: 1. Cashing out crypto to fiat. 2. Bank freezes my account. 3. Tax man starts investigation. HALP

>>	SAGE Thu Mar 15 03:31:06 2018 No.8353169 >>8353119 Yes but paying zero taxes on either amount has the same effect. Jail

>>	Anonymous Thu Mar 15 03:31:49 2018 No.8353178 >>8352973 They don't have to audit your stack, because they don't care, until you convert to fiat. And when you do, you have to provide a record of your transactions.

>>	Anonymous Thu Mar 15 03:32:29 2018 No.8353186 >>8353153 This time the argument is sound as fuck. Taxing a concept, or digital goods, has to be done in real time during the transaction. You cannot treat digital goods the same way as physical goods. Nobody is going to pay.

>>	Anonymous Thu Mar 15 03:34:36 2018 No.8353216 Hey guys, now that the IRS is being allowed to tax concepts. They should also be allowed to tax Ideas. Thought tax is all the rage, its only one step further from taxation of digital goods!

>>	Anonymous Thu Mar 15 03:34:56 2018 No.8353221 >>8353186 The IRS has defined crypto as property and it follows the laws for taxation on property exchange. You can define it as whatever you like. I'm sure the IRS will be very swayed by your opinion.

Anonymous Thu Mar 15 03:35:13 2018 No.8353225

>>8353165
I asked the bank. They won't know unless you deposit more than $10k in cash. Otherwise the amount of money in your account is private. Maybe the law is different where you live though. Still I'll just get a tax-free savings account rather than try to illegally dodge taxes.

>>	Anonymous Thu Mar 15 03:36:09 2018 No.8353238 >>8353123 Except they don't tax concepts, they tax assets, which is what they consider crypto. And, they WILL tax you if money shows up in your bank account over 10k that you can't account for. Stop trying to outsmart the IRS, stupid. You're a retard.

>>	Anonymous Thu Mar 15 03:37:08 2018 No.8353253 >>8353186 (((They))) don't care. Crypto is anti-establishment. Now the establishment is coming after you. source: my lawyer

Anonymous Thu Mar 15 03:39:01 2018 No.8353271

>>8353221
The IRS doesnt decide reality
They may have been able to in the age of television, radio etc
But in a new age
with new communication mediums
and new forms of currency
its harder to get the masses to accept it "just because"
most especially when the ball is firmly in the individuals court to begin with

>>	Anonymous Thu Mar 15 03:41:09 2018 No.8353302 >>8353225 but if you deposit say 9k a month for 3 months that is considered structuring and flags an automatic audit. Seriously don't play with the IRS.

Anonymous Thu Mar 15 03:43:54 2018 No.8353335

>>8353271
>The IRS doesn't decide reality
No they enforce the reality that is decided on by the congressional powers to tax.
It's very clear you don't have any skin in the game. Anyone making any real money in this would be figuring out how to pay their taxes. That or they are in for a rude awakening.
Why should a waitress pay taxes and you not ?

Anonymous Thu Mar 15 03:44:28 2018 No.8353337

>>8353221
That's not the argument. The argument is how this will play out. And so far I am right and all of you who think this will be ok are mentally retarded.

I have a giant I told you so come April when the IRS gets fucked so hard that they have to go full ham on honest people just to save face. Its laughable to think any other scenario will play out. This is cracking down on piracy all over again. They will put kids in jail and paint crypto like its only for child porn. They will likely torture innocent people for their keys and PEOPLE WILL DIE as a result of this situation. The end result will be a battle of attrition and the only ones punished will be the ones with targets painted manually on their backs. This wont be just the US either. Every world government is going to get hit with this problem and every world government will double down harder and harder until they realize they just cant win.

Taxing digital goods like you tax physical goods is impossible to enforce and probably shouldnt be allowed anyway.

Anonymous Thu Mar 15 03:46:31 2018 No.8353364

>>8353335
>No they enforce the reality

Nobody can enforce the laws of reality. They are just as limited by reality as the rest of us. I don't care how much money and resources you have you cannot suddenly bend reality to your will without having it slap you in the face hard as fuck.

>>	Anonymous Thu Mar 15 03:46:35 2018 No.8353366 >>8353335 Taxing crypto to crypto trades would be like taxing interactions between the waitress and customers that leads to tips kek

>>	Anonymous Thu Mar 15 03:46:36 2018 No.8353367 >>8353337 top fucking kek

>>	Anonymous Thu Mar 15 03:47:02 2018 No.8353373 >>8353337 Wow No they will just garnish peoples wages for life. A few millionaires will see jail.. but the people will submit.. like they always do

Anonymous Thu Mar 15 03:48:37 2018 No.8353389

>>8353366
>Taxing crypto to crypto trades would be like taxing interactions between the waitress and customers that leads to tips
>kek
Wow you ARE a retard. Most restaurants now make the waitresses fill out a form about how much they made in tips each night.
They are taxed on those tips each paycheck..
So much for your silly analogy.

Anonymous Thu Mar 15 03:48:59 2018 No.8353394

>>8353373
>No they will just garnish peoples wages for life.

If they do this then I go full crypto. Then what?

> but the people will submit.. like they always do

There has never been one revolution in the history of mankind guys. Never over shit like this right? Not even once.

Anonymous Thu Mar 15 03:49:56 2018 No.8353404

thing is - that if you dont pay your taxes for 2017. it will be hard to cash out. i mean you could sell it for cash. but still - at some point you have everything you could buy with cash. (a TV, a car, nice cloths etc)

but if you really want to work with that money in the future like buying real estate etc. than your government will check why you have so much money.

imho if you are in for tax avoidance. go to another country were taxes are easy.

>>	Anonymous Thu Mar 15 03:51:03 2018 No.8353420 The only way to tax crypto will be to do it in real time as the transactions occure. Any other method will result in failure. And even that would be limited in many ways.

Anonymous Thu Mar 15 03:51:23 2018 No.8353424

>>8353302
Is it the same in Canada? Like I said, here we have tax-free savings account just for capital gains. As the name suggests, the account is tax-free even if you withdraw the money. So I'm not even going to try to dodge taxes because I don't need to.

I'm a NEET on NEETbux, and I'm spending wagies tax dollars on crypto and when I make money on it I will legally be paying no taxes AND I'LL STILL BE RECEIVING NEETBUX! AHAHAHAHAHA!

Anonymous Thu Mar 15 03:51:55 2018 No.8353430
File: 980 KB, 227x221, kek.gif [View same] [iqdb] [saucenao] [google]

>>8353394
>If they do this then I go full crypto. Then what?
well if you can start your own business and pay all your suppliers in crypto and do every single transaction in crypto and pay for all your goods in crypt, and know that the people who you are buying from AND selling to are not reporting the transactions, then you beat the system!
You win ANON!
You aRE teh WINNER!

>>	Anonymous Thu Mar 15 03:53:29 2018 No.8353454 >>8353424 We have that in the US as well. Only problem is you cannot buy crypto within a tax differed or free account. Wish you could. If people could buy crypto in thier 401k or IRA accounts then crypto would BOOM

Anonymous Thu Mar 15 03:53:31 2018 No.8353455

>>8353389
You're a retard with little reading comprehension that got triggered by me not following your script and going down the path your loaded question set up, that being making an analogy likening it to wages
Its almost as if you had your response waiting, copy pasted
It seems this way because you didnt actually read what I wrote.

I didnt liken it to TIPS
I likened it to the INTERACTIONS BETWEEN WAITRESSES AND CUSTOMERS that leads to tips.
Literally talking to eachother, smiling, acting nice.

Taxing crypto to crypto is like taxing these interactions, not the tips (cashing out).

Also your choice is telling, waitresses - it seems that the entire tipping culture is a psychological foundation of tax culture
but thats another discussion for another time, social engineering ;^)

>>	Anonymous Thu Mar 15 03:53:36 2018 No.8353457 >>8353430 >well if you can start your own business A decentralized application DAPP You wont even need to admit who you are and its popularity can be completely organic.

Anonymous Thu Mar 15 03:55:50 2018 No.8353477

>>8353455
>I likened it to the INTERACTIONS BETWEEN WAITRESSES AND CUSTOMERS that leads to tips.
>Literally talking to eachother, smiling, acting nice.
>Taxing crypto to crypto is like taxing these interactions, not the tips (cashing out).

Was it a medium smile or a large smile you invested in the waitress? We need to file paperwork on this stat otherwise its off to jail for both you AND her.

Anonymous Thu Mar 15 03:56:26 2018 No.8353479

>>8353455
Princess I am not triggered in the slightest. You can not pay taxes for all I care, but this don't pay your taxes advice on 4chan is going to get alot of anons in BIG BIG trouble.

tips , smiling..blah blah blah... move the goalposts. Crypto transactions iz like smilings!
Garble flurble HAVE YOU NEVER READ LOCKE!

Anonymous Thu Mar 15 03:56:38 2018 No.8353481

>>8353454
I buy crypto from my usual chequeing account, and if I got a tax free account I should just be able to move it to my chequeing account without it being taxed. Am I missing something? You can remove money from the TFSA without it being taxed so...

Anonymous Thu Mar 15 03:57:45 2018 No.8353490

>>8353457
I'm all for decentralized everything.
I just don't believe that the entire system is going to acquiesce easily and they WILL go for the low hanging fruit because when anons see other anons going to jail over neet tax evasion, they will fall in line.

>>	Anonymous Thu Mar 15 03:58:47 2018 No.8353502 >>8353481 Don't know anything about Canadian law. I would assume the transaction would either have to be held in the tax free account though. Better ask some Leafanons

>>	Anonymous Thu Mar 15 03:59:27 2018 No.8353506 File: 45 KB, 720x720, 12189653_1698784390352892_8299256346185036511_n.jpg [View same] [iqdb] [saucenao] [google] >>8350354 who f-cking want to live with uncle Sam? we love asia

Anonymous Thu Mar 15 03:59:32 2018 No.8353508

>>8353477
If you smiled with an intention of profiting, then its the highest tax bracket for you!

>>8353479
I work
I get paid into a bank account
I pay taxes
such is life

crypto seems to be another ballgame altogether
And although we all know the IRS would like to be able to port over their stats, the reality is that the power is with the common man now
and that is why barely anyone is paying taxes on something that is essentially untraceable
that is why piracy blew up and has become part of the culture

anyway I would love to stick around and chat but I am not getting paid to shill, so enjoy scaring brainlets into thinking the sky is falling
kek

Anonymous Thu Mar 15 04:00:52 2018 No.8353521

>>8353479
That's side stepping the overall argument. The argument being posed is that this is a unenforceable train wreck. Nobody here is saying people wont be getting killed or put in jail. Oh I wont be painting that happy shit on my posts.

My only point is, nobody is going to pay. I am not saying DONT. I am saying when or if you do, you will be one of the very few who did.

We have to all agree on the fact that this is a complete disaster. If you do not explicitly agree with this specific point you full of fucking shit. You are outing yourself as a liar.

Answer the fucking question, do you agree that this is a fucking disaster or not? The answer is that its OBVIOUSLY a massive shitshow on all aspects.

>>	Anonymous Thu Mar 15 04:02:28 2018 No.8353537 >>8353508 >the power is with the common man now Hopefully we are moving in that direction, but your fellow citizens pay their taxes and they are common people. Do you think they would like to pay taxes while you get a pass ?

Anonymous Thu Mar 15 04:02:42 2018 No.8353541

>>8353225
I agree but $10k is nothing compared to the gains I've made in crypto so far.
I'm in a cooperation with a lawyer right now and I will probably do everything according to the law.
Probably will have to go into debt or sell of some crypto (don't want to do that) to be able to pay of my tax debt from the crypto to crypto trades

>>	Anonymous Thu Mar 15 04:04:13 2018 No.8353558 >>8353490 The existence of decentralized ANYTHING is the incentive to decentralize everything. Like sports teams when they found to black people are awesome at sports. I will have multiple dapps in my future.

>>	Anonymous Thu Mar 15 04:05:13 2018 No.8353570 If GDAX sent me a 1099k, that means they also sent one to the IRS. Does that mean I can't avoid reporting capital gains?

Anonymous Thu Mar 15 04:05:22 2018 No.8353573

>>8353537
But anon, the majority of crypto holding citizens arent paying. And by your own argument, is it fair if a minority does when the majority doesnt?
And if it was within the enforceable jurisdiction of the IRS, it wouldnt be a problem to begin with right?

You can bet on fear
I am betting on greed

Anonymous Thu Mar 15 04:07:37 2018 No.8353587

>>8353521
I totally agree that this is 100% a huge disaster and it is fucked how they are implementing taxation on crypto to crytpto trades which is forcing many people to liqudate at a loss to pay taxes.
That is an illegal act in my mind. No one should be able to force me to liqudate at a loss to pay taxes on a crypto to crypto trade. it's fucked.
I am in this situation myself. Have to pay almost 40k in taxes on crypto trades and I never sold 1 BTC to USD ever. Just got in early and traded like crazy..
So do I not pay and risk it all ? Or sell my crypto now the market is down 60% to pay my tax debt on trades that never became fiat..
Yes it's fucked. Yes alot of people will not pay.
but this is a war on banks and they have the resources and we have probably less than 100k people in crypto...
so who is gonna win this round ?

>>	Anonymous Thu Mar 15 04:10:49 2018 No.8353615 >>8353587 >trust me goys im one of you

Anonymous Thu Mar 15 04:11:07 2018 No.8353620

>>8353570
>If GDAX sent me a 1099k, that means they also sent one to the IRS. Does that mean I can't avoid reporting capital gains?
That's exactly what it means.
The scary thing is lots of exchanges are reporting ALL their transactions and the accounts they are connected to but NOT sending out 1099ks to their customers.
The exchange has to report ever single little fee they received and what the transaction was for and to whom.

Anonymous Thu Mar 15 04:11:51 2018 No.8353626

If we cannot at least come to a consensus that this is a major disaster then the ones arguing in favor of the IRS are outing themselves as being dishonest.

Its very, fuck, simple.

Do you think this is a complete shit show or not? So many people are going to get fucked. So many people are trapped paying at a loss. So many people simply wont be paying and the very few who do pay will be doing it when nobody else did.

This is a fucking disaster.

>>	Anonymous Thu Mar 15 04:12:18 2018 No.8353632 >>8353620 There is no 1099k form, why are you kidding youselves...

>>	Anonymous Thu Mar 15 04:13:00 2018 No.8353645 >>8353626 Yes, it is a fucking disaster and yes they are stealing your money. Nothing you can do about it though. Welcome to the real world.

>>	Anonymous Thu Mar 15 04:13:32 2018 No.8353652 >>8353632 Man thank good we have brain surgeons in here https://support.coinbase.com/customer/portal/articles/2721660 no 1099k.. le sigh

Anonymous Thu Mar 15 04:15:16 2018 No.8353668

>>8353652
Goddamnit, if I said it once I’ve said it a thousand times to you freaks. Monopoly money is not real money, it’s the same reason you don’t have to pay taxes when you trade your little pokemon cards. You could have invested into a 401k like us sane, rational people but you insist on putting money(real money) into something that is worthless. How many times do we have to say this YOU CAN’T MAKE A LIVING LIKE THIS! This delusion is sickening, it is truly sickening... If you wanted a good return for your money why not invest like Warren Buffet and buy Coca Cola shares, oh who am I kidding of course you won’t. You “people” are not more than pot smoking gamblers and it is millenials like yourselves who love to blame people who are older and wiser than you for your poor life choices. When you see successful, normal folks walking around you laugh and scoff, not realizing your own parents were wishing they put your sorry ass up for adoption before it was too late, but now it is. Maybe one day you so called “investors” will pull yourselves up by the bootstraps, make something of the pathetic thing you call a life and join us in the land of the living and not be trying to get rich quick by trading your invisible chucke cheese tokens, but sadly I do not see this happening any time soon. Good luck out there buddy, you’re gonna need it.

Anonymous Thu Mar 15 04:16:46 2018 No.8353687

>>8353645
>yes they are stealing your money.

I am not even talking about the age old taxation is theft argument. I am fine with taxes.

> Nothing you can do about it though.
> Welcome to the real world.

No, I am telling YOU how the real world works. This is not going to play out well for EITHER PARTY. This is a fucking mess of epic proportions because its an unstoppable force hitting an immovable object. This is a coming storm that will destroy the island. This is the blood of innocent lives on the ground. This is a full scale fucking disaster beyond normal levels.

You will not ever be successful in taxing digital goods. IT CANNOT FUCKING WORK!! Stop saying "It will anyway just cuz kek"

>>	Anonymous Thu Mar 15 04:20:15 2018 No.8353726 >>8353687 until there are either Decentralized fiat gateways or wide use of crypto by millions of people for millions of transactions that are obfuscated.. we are dead in the water.

>>	Anonymous Thu Mar 15 04:22:23 2018 No.8353749 >>8353687 this is entertaining as hell

Anonymous Thu Mar 15 04:23:51 2018 No.8353762

>>8353726
You fucking believe the fantasy bullshit that this not only exists but it wont in the future? People work on incentives, humans behave this way naturally. Human nature dictates not only are these going to be a reality, the more they try to crack down on them the more popular they will get.

I am convinced the only reason a lot of you fucks are even debating this shit is because you have no ability to understand what the end results of all of this will be.

A lot of people are going to get fucked HARD by this. A lot of them will be the ones who tried to be honest too.

>>	Anonymous Thu Mar 15 04:24:47 2018 No.8353772 >>8353762 how hard are we talking?

Anonymous Thu Mar 15 04:33:01 2018 No.8353864

>>8353772
I predict in the coming years depending on how things play out on April. Jail or death regardless of what you do. Not just the USA, all over the world. This first wave is a power play to see how shit pans out. It wont pan out obviously. Then it will get more serious.

Crypto is going to be insanely contentious in the coming years. Simply owning crypto will mean you are treated as a tax evader by default. You may be raided for your keys. We will see torture on inmates for keys as well. I wont rule out anything at this point.

Come April we are either going to see the IRS complain a very small number of people reported earnings. Or we are going to see a mass downplaying of the situation to make it seem like people are paying but in reality the numbers will be low as fuck.

We will be seeing a lot of people who get hit and owe more than they even earned too.

>>	Anonymous Thu Mar 15 04:35:28 2018 No.8353884 >>8353864 >We will be seeing a lot of people who get hit and owe more than they even earned too. That is definitely going to happen. You can see it happening on forums right now.

Anonymous Thu Mar 15 04:36:38 2018 No.8353895

>>8353481
Dummy, you don't have a taxable event until there are gains, or losses. If you transfer your altcoin to bitcoin, and it's the same value when you cash out, that transaction isn't taxed.

The only conclusion I can come up with from threads like this is, most of you have never owned any cryptocoins, never cashed any out, and therefore don't have to actually go through the process of filing a tax return for them. Or you made $50 last year.

Anonymous Thu Mar 15 04:38:05 2018 No.8353906

>>8353521
>My only point is, nobody is going to pay.
I don't agree. Quite a few people here have posted they paid the taxes. A small percentage of larpers come into threads like this, and talk a lot of shit, but most of them either made insignificant amounts in crypto, or are just larping, because 4chan.

Anonymous Thu Mar 15 04:38:48 2018 No.8353914

Also its worth mentioning that there is already white lists in place for people like the CEO of Ripple. He is able to avoid paying taxes on the large escrow funds they get access to every month while some dude who bought bitcoin 4 years ago and makes min wage will be forced to pay more than he has.

>>	Anonymous Thu Mar 15 04:39:50 2018 No.8353927 >>8353906 >I don't agree. Quite a few people here have posted they paid the taxes. yeah hundreds of people at best. Half of them are fake

Anonymous Thu Mar 15 04:41:28 2018 No.8353938

>>8353570
If you were issued a 1099k the IRS absolutely has a copy, or GDAX would be in trouble, and you're not worth it to them. If you have a 1099k, you HAVE to file on the 15th, file for an extensions, or file and set up a payment plan, if you can't pay in full. Not filing is more serious than filing and not paying. If you let it go long enough, the fines and penalties can be more than what you owe, and the clock is ticking from April 15th. You won't go to jail, but you WILL get a bill. What usually happens is they'll do your taxes for you, and send you the bill, and they don't maximize your deductions for your benefit - then you can file an amended return, or you can ignore it, that's when you go to court and a judge garnishes your paycheck.

>>	Anonymous Thu Mar 15 04:42:32 2018 No.8353952 >>8353587 You should have known going in that the rules that apply to day traders would also apply to you. Sorry, but it's not their fault if you didn't educate yourself before you started.

>>	Anonymous Thu Mar 15 04:43:35 2018 No.8353966 >>8353906 >>8353884 It's pretty obvious you're both larping though I mean yeah there are a shitload of posts about people needing to pay but they are always so specific and heavy in tax law + numbers its obvious you're the same shilling force

Anonymous Thu Mar 15 04:44:51 2018 No.8353982

>>8353938
Make sure this applies to the CEO of Ripple who was once almost the richest man on earth. They have to pay taxes on the billions of coins they have. Let us know how that works out for you.

If Ripple still exists on April 16 then we know for a fact the state of taxes and crypto are not working out in favor of the IRS.

>>	Anonymous Thu Mar 15 04:44:52 2018 No.8353983 >>8353927 I would bet serious money that more of the "I ain't paying" posts are fake, compared to the "I paid" posts.

>>	Anonymous Thu Mar 15 04:45:47 2018 No.8353988 >>8353952 rules changed from 2016 to 2017 How many people paid taxes on bitcoin in 2017 ? 802 was it ?

>>	Anonymous Thu Mar 15 04:46:23 2018 No.8354004 https://youtu.be/aM-Mmxm0OEQ

Anonymous Thu Mar 15 04:46:41 2018 No.8354008

>>8353982
His taxes have nothing to do with mine, yours, or anyone else's in this thread. Corporate taxes are different than individual returns, and it's astounding to me you don't know something as simple as that.

Oh, wait, 4chan, where neckbeards will lie and distort anything to be right. Even when it flies in the face of cold, hard facts.

Anonymous Thu Mar 15 04:47:40 2018 No.8354024

>>8353983
I am going to pay what I cashed out on. My points in this thread is that this is a completely organic shit sandwich situation and we all have to take a giant bite. I am not suggesting anything beyond that.

Paying is probably even more dangerous than not paying at all.

Anonymous Thu Mar 15 04:49:01 2018 No.8354042

>>8353988
Ignorance isn't a defense. You all ClEARLY knew the rules were coming, it was being discussed before the big run up, I saw it here with my own eyes. And all of you ignored it, or shit all over it. Boo hoo. The rules are known now, and you gotta pay.

If you don't look at the tax implications of anything involving investing before jumping in, you're a fucking idiot. And if you thought the IRS wouldn't take the stance they did, you're a bigger idiot.

>>	Anonymous Thu Mar 15 04:49:18 2018 No.8354050 >>8353983 only about 300 people paid tax on crypto to the IRS if what you're saying is correct then a large amount of that statistic browses /biz/ and shills tax kek

Anonymous Thu Mar 15 04:51:05 2018 No.8354073

>>8354008
>His taxes have nothing to do with mine, yours, or anyone else's in this thread.

His taxes are a strong indication of the situation perioud. Like I said, if Ripple still exists on April 16 we know they either have white lists or they simply didn't pay either. So ready your buttholes if you have any money in that shitcoin. This applies to all coins where we know the editntity of the creator who has pre mined coins or obtained large sums of his own coins.

Dan Larimer is fucked as well. Satoshi had a very good reason for hiding his identity because his wallets would mean he owes massive amounts of money. Cardano has pre mined coins too.

Lets see how the big boys resect the IRS.

>>	Anonymous Thu Mar 15 04:53:31 2018 No.8354097 >>8353938 So, I will file my taxes on time. But I guess I thought maybe I could get away with not reporting capital gains, I mean, what are they going to do, contact GDAX and look through all my transactions?

>>	Anonymous Thu Mar 15 04:54:35 2018 No.8354113 >>8354042 I am not crying, Im paying.Still don't think it is correct to make people liquidate losing positions to cover their taxes.

Anonymous Thu Mar 15 04:58:58 2018 No.8354152

in a coin to coin situation for taxation the very existence of coins with known creators is threatened greatly. Anyone from home creates a concurrency is automatically jail bait.

Simply creating an ERC 20 token and giving yourself a bunch of those coins means you will likely be taxed heavily for doing so. In the cases where a crypto creator is a known entity and his coins reach higher values they will be forced to liquidate massive amounts of those coins just to pay taxes. Thus dumping the value of the coins to almost nothing.

Search on Twitter, do you see people like Vitalik talking about taxes? Nope they are all silent as fuck because they know the tax man is coming for them first if they don't want to get on the white list.

Anonymous Thu Mar 15 05:15:25 2018 No.8354318

>>8354008
>Corporate taxes are different than individual returns, and it's astounding to me you don't know something as simple as that.

On that note you just admitted that in the new rules set by the IRS, the only people who can legally make a cryptocurrency are corporations. Even still, nothing, not even corporate taxes can get around the billions and billions of coins they have at their disposal. Ripple owes more taxes than probably 90% of other corporations and the CEO himself was almost crowned the wealthiest man on earth in December and was promptly hit with the crypto crash in January.

If Ripple still exists post April 15 we know for a fact something fishy is going on. HAHAHA!!

Anonymous Thu Mar 15 05:15:52 2018 No.8354323

>>8353762
So basically what you're saying is
>either DEX and crypto used by millons
>or tax man fucking over everyone

Doesn't matter what happens in the future anyway. You'll have to pay your taxes for 2017 according to the rules that apply now. Which is paying taxes on your crypto to crypto gains.

If you don't, they'll come after you in the future.

Anonymous Thu Mar 15 05:18:10 2018 No.8354346

>>8354323
>If you don't, they'll come after you in the future.

Yep, me and Ripple and Etherium and Cardono are all under the gun I guess. Its funny when every citizen is in the same situation as the top 5 coins and the owners of the top 5 coins.

But nah, everything will be fine guys.

>>	Anonymous Thu Mar 15 05:20:16 2018 No.8354371 >paid tax for small amount of BTC i received in 2017 >CRA are probably going to fuck with me because I am a white male Feels bad honestly, I want to leave this shit hole

Anonymous Thu Mar 15 05:28:32 2018 No.8354449

>>8354346
Everything is fine until you cash out to fiat.
Then it arrives on your bank account.
Bank freezes your account because it's fishy.
Then you can explain it to the tax man
Then you'll have to pay all the taxes on crypto to crypto and probably be fined as well

Anonymous Thu Mar 15 05:32:18 2018 No.8354483

>>8354449
Alternatively, you play 100% by the rules and do everything they ask. They then come to the conclusion that they cannot get enough people to do the same and make crypto illegal. They have records of your wallets and tell you to hand over your illegal contraband.

We are ALL EQUALLY FUCKED. You play by the rules or don't. There is ZERO guarantee no matter what you do.

Anonymous Thu Mar 15 05:35:33 2018 No.8354516

>>8350641
kek, no. IRS computers are so far out of date its funny. Also the only people who go work at the IRS are the ones that couldn't cut it in the corporate world, think about it why would you go work for $40-$60k when successful people in your field are making six figures unless you had no other option. The faggots that are actually afraid of the IRS crack me up.

Anonymous Thu Mar 15 05:37:26 2018 No.8354537

>>8354483
If you don't play by the rules the risk is far greater than if you do play by the rules.
Everyone has to pay taxes and unless a crypto singularity happens where the whole world joins in and the government gets overthrown, you'll have to play by their rules.

>>	Anonymous Thu Mar 15 05:38:41 2018 No.8354550 >>8354516 You should be afraid. They can freeze your bank account. They can put you in jail. They want quick and easy money. Crypto is like a fishing pond for them with big fish.

>>	Anonymous Thu Mar 15 05:41:17 2018 No.8354578 >>8354550 >oooo scary incompetents be afraid of the government fuckups Or you could try being less of a faggot.

Anonymous Thu Mar 15 05:41:22 2018 No.8354580

>>8354537
>If you don't play by the rules the risk is far greater than if you do play by the rules.

BULLSHIT!! FUCKING LIES!!
This is an epic shitshow and this shit can go all kinds of different ways. Nobody knows how this will play out.

The only thing we know for 100% fact is that its not enforcable as they are currently trying to do it. Based on that its easy to see that this is going to be a clusterfuck on every possible front. If you play by the rules they will likely show up at your door demanding your wallets after they make it illegal.

Anonymous Thu Mar 15 05:41:55 2018 No.8354584

Pay capital gains on what you cash out. The IRS doesn’t just randomly jail people for reporting less than what they owe if it was done in good faith. They’d first send you a bill, and that’s really only worst case scenario. If you haven’t cashed out, they don’t even know (or care, yet) about your crypto. Use common sense and pay the tax man but don’t go overboard you autists

>>	Anonymous Thu Mar 15 05:42:20 2018 No.8354588 >>8354537 did you know that smart contracts could be used to handle tax and other government services, even constitutions? Did you know that they were designed with this in mind? Thoughts?

>>	Anonymous Thu Mar 15 05:43:41 2018 No.8354599 >>8354588 The only way to do taxes with crypto will be to do it automatically using systems of this nature. Doing it the way the IRS wants to right now is impossible.

>>	Anonymous Thu Mar 15 05:43:59 2018 No.8354601 File: 133 KB, 899x1284, christchan_boohoo.jpg [View same] [iqdb] [saucenao] [google] Feels good to live in an income tax-free country :^)

Anonymous Thu Mar 15 05:55:29 2018 No.8354713
File: 116 KB, 1280x720, sm.jpg [View same] [iqdb] [saucenao] [google]

>Implying they care about my small gains
>implying the million normie fucks that didnt file their crypto shit either
>implying if they some how care about me and get through the back log of normie scum I wont just laugh in their face and kill myself.

Live for gains die for gains.

>>	Anonymous Thu Mar 15 06:04:34 2018 No.8354796 >>8350354 Do you know what this clown did? Refused to pay tax for years claiming it was for reparations to the kangz for slavery.

>>	Anonymous Thu Mar 15 06:28:52 2018 No.8355014 >>8354601 >feels good to live in Uganda

>>	Anonymous Thu Mar 15 06:29:58 2018 No.8355023 >>8354796 kek

>>	Anonymous Thu Mar 15 06:31:25 2018 No.8355033 File: 59 KB, 720x855, butthurtreport.jpg [View same] [iqdb] [saucenao] [google] >>8355014

>>	Anonymous Thu Mar 15 06:34:26 2018 No.8355050 >>8355023 Yeah the IRS dont fuck around if you go in there shouting about Africa and being true KANGZ and wanting reparations. Be respectful and want to resolve the problem and they help find a solution. Easier to just pay ya fucking taxes though

>>	Anonymous Thu Mar 15 06:36:37 2018 No.8355066 >>8350354 >he doesnt know the difference between tax avoidance and tax evasion

>>	Anonymous Thu Mar 15 06:39:47 2018 No.8355088 >>8355066 In crypto, what exactly is the difference? We can change the technology to do anything we want. Including making it impossible to track.

>>	Anonymous Thu Mar 15 06:40:27 2018 No.8355094 >>8350354 Rich Hollywood stars are more noticeable

>>	Anonymous Thu Mar 15 06:44:31 2018 No.8355123 >being american

>>	Anonymous Thu Mar 15 07:01:46 2018 No.8355278 File: 128 KB, 880x1161, Canada.jpg [View same] [iqdb] [saucenao] [google] >>8350354 (laughs in Canadian)

Advanced search
Text to find
Subject [?]Search by post subject. Leave empty for any.
Username [?]Search for user name. Leave empty for any user name.
Tripcode [?]Search for tripcode. Leave empty for any.
Email [?]Search by email. Leave empty for any.
Filename [?]Search by image filename. Leave empty for any.
From Date [?]Enter what date to start searching from. Format is YYYY-MM-DD
To Date [?]Enter what date to start searching until. Format is YYYY-MM-DD
Image hash
Search in	All Posts OPs Only
Deleted posts	Show all posts Show only deleted posts Only show non-deleted posts
Internal posts	Show all posts Show only internal posts Show only archived posts
Order	New posts first Old posts first
Capcode	All Posts Only by Users Only by Mods Only by Admins Only by Developers
Results	Posts Threads
Action	[ Simple ]

/biz/ - Business & Finance