/biz/ - Business & Finance

*looks at my 200+ etherscan and coinbase transactions*

You told IRS-senpai the truth, riiiight, anon?

>>22844716
>checks No

You aren't using just coinbase, riiiight, anon?

>>22844716
Does buying count as receiving it? Why do they want to know if I am just holding it?

Fuck the IRS man. I will do everything in my power to obscure the paper trail because frankly I’m not paying them until I finally cash out a large amount. I’m not paying them the few thousand I probably owe in crypto -> crypto trades

>>22844753
Serious question...
What happens if we lie?

>check yes
>show my catastrophic cex losses

heh, nothing personnel goldstein

>>22844803
Yes, Anon.

The taxman is coming for you.

>Tax professionals also have concerns. Earlier this year, the American Institute of CPAs sent the IRS officials a 28-page letter taking issue with its guidance that said the crypto received from reorganizations called forks and marketing giveaways called airdrops can be taxable to recipients.

They want to know you're holding it so you're on that list, and that list is a special database of crypto holders.

Then they'll double look at your sprees, and if one year you don't file your taxes, or it's suspiciously to low..

AUDIT.
AUDIT.
AUDIT.

What's that anon?

Past three year transactions you'll need to dig up?

Oh, you used COINBASE? Well, look at that, let's send them a court order, they'll tell us what we want to know.

Oh, a USA bank? Even better.

International bank? LOL, FACTA bitches!

Oh, suspicious plane travel?

A chinese waifu? SUSPEND CITIZENSHIP STATUS.

So, yes, it's taxable if it's free because it's a "gift" like how you get fucked for winning the big prize on game shows, lottery, etc.

But it only taxable when *you* sell it, and like most people on /biz/, BUY HIGH, SELL LOW.

So, ironically, for most of /biz/, they'll be posting losses.

>>22844884
What are you all doing? Checking yes or no?

>>22844716
Suck to be American. But then what's new? Your entire country is in flames and the government is focused on autist coins.
>>22844851
Maybe they'll get real mad and send a strongly worded letter. Gotta pay your taxes to fund another $500 billion in gibs for the black community.

>>22844920
i checked yes last year and ill do it this year. I pay the taxes. Idk whats the big deal

>>22844884
Oh say can you see!
Seriously, fuck this prison colony.

>>22844884
How I can I make these as easy as possible? I have over 200 transactions. Buys swaps sells.
There is no fucking way I can sit down and calculate every little cent that I bounced around multiple wallets and exchanges.
Do I hire an accountant? Just print everything and take it to HR block?
Only report some of it?

Meanwhile riots

>>22844716
thanks, just deleted all my Cryptocurrency.

If you didn't sell any, all you have to do is answer "yes" if you bought. Don't have to fill out any other forms unless you sold.

>>22844716

>Lard of the fee

They're doing this during a global pandemic when Americans desperately need money. Disband the IRS. The government has no right to tax us.

>>22844948
you do realize that what the irs is doing is unconstitutional. When women run the country rules are more like suggestions

>>22844884
Honestly man, I’ve only put like $8K USD in to crypto. Maybe around 10-20 ETH -> shitcoin transactions. From ETH to shitcoin trades or vice versa, I only have around $1.5K in realized profit. The rest are just holds I have. I will check yes on that box because I’ve used coinbase for my USD onboarding. But realistically, no, I’m not reporting shit for crypto to crypto trades yet. I will wait until my shit hopefully moons and I have like $100K (or whatever I decide to cash out at). I’ll pay them capital gains, but I’m not paying fucking shitcoin trade taxes. There are faggots here with $100Ks in volume of trades that haven’t paid taxes. I can’t imagine it would be worth the IRS’s time to pursue me for less than $20K in volume.

>>22844980
As in sell for cash?

American constitution gives the right to never incriminate the self

>>22844920
Unironically, checking yes. I've dealt with audits before and it is easier to pay, and pay up front, or even overpay.

If you ever own the IRS anything or they come a-knocking.

Say hi, welcome them in, ask how *can* you help.

Then judge the situation with how much can you lie and if you can play it off as *oh, IRS-san, I'm sorry, first time doing this - can you forgive me?*

And they did. The problem is, now they're asking it in a YES/NO form which simply means it's perjury, it defames your character instantly and then that's all they need to further probe into your life.

IT isn't the same as not including all income, anon.

So, you need to play the line - use coinbase, never cash out more than 20K from there. If you cash out any significant amount on coinbase or USA exchanges, report it but

With Uniswap, MEW, metamask and the ability to not *have* to use an exchange to do a transaction, you'd be very stupid.

Localethereum is also good.
Face to face meetings are perfect.
If you have gains, you can always convert it to a more stablecoin, and then swap on unimask to another currency and trade in person.

Of course, this assumes you know how to use a spreadsheet, so you can record your transactions and see what the cost of doing it w/o reporting is *worth it*.

When I use localether, I always make 5% profit, guaranteed, so for me, it's kinda worth it but it is risky business meeting strangers and taking in cash.

Then you have cash, what do you do with that, then? lols.

There's many solutions, anon. The key here is what you wish to follow and how you do it. - Execution.

Lay out the plans, see what each one costs, and go with the best plan. Sometimes a financially expensive plan may pay dividends in the future as peace of mind.

Or fuck the system and be free. Crypto is decentralized for a reason. We remove usury, taxes, tariffs, and a third party telling us what we do with OUR WEALTH.

>>22845008
Same bro. My goal is to cash out over 500k posy bullrun, hire a top notch accountaunt/lawyer to do everything for me, and be on my way.

Exercise your 4th and 5th amendment rights

>>22844925

Money is power and the IRS exists solely to keep you in check. Taxation is authoritarian, and it should not exist in a free society. Moreover it has no functional purpose in a fiat monetary system. There are no good arguments in support of taxation

>>22844716
Pro tip! You cannot claim long term capital gains if you ever click no on that for the previous year, otherwise you would be lying on your taxes.
>ever had acquired INTEREST in crypto
What the hell does that even mean? So if I goggled "bitcoin" in 2010 that counts technically?

>>22844716
Lol, the IRS doing shitty stuff like won't help them at all.

I see a bright future for Monero, DEX-es and buying crypto peer to peer with cash.

Fuck the IRS, fuck taxes, and fuck the government.

>>22845043
thats b8 r8 m8 ?

>>22845008
Anon,

Capital gain rates are:

0% TAXES - $0-39,375 -
15% TAXES -$39,376 - $434,500.

Double if you're married on the right column.

That means your taxes would be:

1. Amount you purchased the crypto at.
2. Minus the price when sold.
3. Net profit, proportion 15/100 - x/434,500
4. Max would be: x = 65,175

Then your w2 wagies and tendies. That's about 25-30% tax bracket, so if you make 100K, about 30K there.

Which would result, with zero deductions:

$95,175.

At which point, opening a business in Japan, China, Singapore, Vietnam, Philippines, is easily doable as a tax shelter. Even if you spend 50%, you save 50K and get to have fun fucking around another country.

I highly don't suggest localethereum or such for transactions over 5k. I did, it was fun.

Never doing it again, fuck the people I met were some of the most fun but shadiest of fuck.

>I really have no idea how they didn't murder me or anything, I guess they really liked me.

>But probably luck.

How do they even determine the price of what you have? If someone sent you a token that was worth 5 dollars at the start but as soon as they sent it to you it dropped down to 22 cents and stayed there the rest of its life, are they really gonna try to say you owe them on the 5 dollars it was worth for 30 minutes?

>>22845238
Everything on the fucking blockchain is public.

There is no *secrecy*. The time/date is easily referenced with several data providers (hey, chainlink!!) or any price api to see what the value was *AT THE TIME* you received it.

Yes, there are exceptions, monery,zcash, but you mention does around normies:

>omg anon, you buy drugs?
>omg anon, isn't monero used by Cheezepizza?
>anon, what are you trying to hide?

Yeah.

The biggest normie thing people think is bitcoin, ether, erc-20 tokens are fucking *private*.

They are not, the whole point is the ledger is public, so you know at all times where the "wealth", "coins" are and who are the "big players." and since everyone knows everyones price, and the miners are incentivized to keep doing transactions and not mingle on the blockchain to tamper transactions - it's a nice zero proof system.

But, most normies, dont' know how crypto works, they think it's magical money.

tl;dr: ITS ALL PUBLIC.

>>22845229
And to further conversation on this:

1. Most new businesses fail within the first three years.
2. More are high risk then others.
3. By any and all means, do not fucking make your business about crypto. It's going to be suspicious as fuck if you don't have cryptogains, but operate a tax shelter that helps the poor embrace crypto. How the fuck does that work?
4. Restaraunts are easy come, easy go - and everyone will come, post, tag, and go "wow, anon." you can probably even float it a bit, and reference old social media posts about how your gf/bf/transcuck inspired you to persue a life of food outside the office and how you're going to expand everywhere and you'll shelter your wealth, and pass it through and then...when you get bored, darn the business fails. ;_:

>Welcome to money laundering 101.

>HSBC really will become your friend quick, they really will.

You also can purchase citizenship/residency by investment. South East Asia is a fun place, and in some countries, the price is as low as $45,000 USD...

Cheaper if you're over 35 and can "retire."

>but anon, why?

Cause you can bypass alot of FACTA stuff in a SEA bank, especially in East ASian banks like China.

Of course it's better if you know the language, culture, or have a waifu.

But, this is a pro gamer move, anon - only if you really made it, in excess of 300k+ tax liability.

And if you did, post about it on /biz/ and I'll laugh at you from my IRS office.

According to the second ammendment, you have the constitutional right to attack the IRS with an assault rifle. Defend your property.

Would a class action lawsuit be the best way to to tell the government to fuck off? Just curious.

>>22845950
Nope. Second ammendment.

>>22844716
Good thing RSR is not a currency but a tool. Same with ETH. Now I did buy some tether which acts as a currency. Taxing crypto is like taxing Pokemon cards

>>22846383
IRS absolutely taxes pokemon cards.

>>22845043
>reddit spacing
Fuck off

>>22844716
>>22844753
i use online banking
does that count?

>>22846446
I do it just to make it easier to read for older anons. My grand parents browse /pol/ and they talk about how it's hard to read.

So fuck you for being accessibile friendly. When you're reading from a new 2020 macbook pro with retina on the highest setting, the font on here is small as fuck.

>>22844716
>checks no

That was easy.

>>22844851
You are asking to get raped.

It will be exhibit A in court.

>>22844925
>another $500 billion in gibs for the black community.

RACE WAR NOW

>>22846538
Dumbest comment on 4chan

>>22845305
>hey, chainlink!!
token not needed

>>22845615
based and patriot pilled

Good thing I am unemployed and thus not required to file my taxes for 2020

>>22846699
Double dubs of totally wrong

>>22846563
Not even remotely close.

>>22844716
I only have losses this year so I actually qualify for a larger tax return.

>IRS btfos themselves when they realize most people who trade in crypto are not rich

>>22846739
>t. seething IRSKike
Not paying rabbi ;)

>>22846893
Will you pay now?

>>22846469
>my grandparents browse /pol/

>>22844716
The IRS is not going to come after the majority of /biz/ if you have 50K+ I would click yes.

You've been warned.

>>22845043
>to get a job at the IRS you just need a bachelor's degree at the entry level

Sign me up.

americans call yuros cucks

lmao

>tax psyops mission.

Bottom line is until further clarifications. They are shitting bricks.
You are trading imaginary tokens
in a unregulated market and realized gains are almost never for the common joe public. Most folks lose $ in crypto. Id sooner hire a fucking hotshot lawyer to dispute what ownership laws and how this value can’t be traded legally back into the banking systems eventually.

Keep fighting anons.
Ivy League lawyers group have begun a campaign and paper to challenge tax laws and possession , trading , transfers from coin to coin. You name it. Regulate it 1st. Then tax me accordingly.

>>22844716
They can't get away from the IRS. They're developing this extra sophisticated technology to track cryptocurrency holders and keep track of them so that they won't cheat.

Still don’t understand what the fuck can they do if I don’t remember the password for my holdings.

>>22847140
Oof

>>22847140
Been holding 1 asset since September 2017 Anyway y’all know what that is too

>>22844716
So if I am a pre-2020 hodler and made no noticeable transactions in 2020, I can just chek no? Sounds like they are asking if you made any trades, not if you are simply hodling

>>22847185
Can they go back to eth delta to know wtf I even bought in 2015 I can say I bought some bs that crashed to 0 anyway

>>22844851
Nothing. Just cash out far from multimerica poop island.

I'm going to check yes. I'll let you guys know how bad they try to fuck me. I always do my taxes the first fucking day I can, so you guys who wait until April or whatever should have enough time for me to report back. lol

>>22845238

>Create token with 1 bil supply
>Trade 1 token for $1 to yourself
>Give yourself the rest of the supply
>Trade 1 token to yourself for $.00001
>Realize $1 billion in losses
>Offset your gains with your losses for the rest of your life and never pay the IRS

Sounds like kikebase works closely with the irs. Would be a shame for them if I just transfer all my coins to binance.
>checks no

>>22845002
yep

>>22847292
and giving 500 billion to niggers who are currently burning down the country. I guess terrorism works.

>>22844950
Worse case you can just pay tax for your entire holdings

>>22845103

Well taxation of some sort is bound to exist in any society with a government.

Ive literally never sold, only bought. Been a holder since the beginning. They gonna fuck me up if I say no?

>>22844716
>>22844753
>>22844800
>>22844884
>buys with cash on localcoin/monero
lol

>>22847773
Taxation can be fine within reason. We didn't have income or capital gains tax before the creation of the Federal Reserve and IRS in 1913. The IRS and Fed are illegitimate institutions run by kikes.

>>22847260
This sounds smart in theory, but I wonder how it would hold up in court.

Who would check yes if they ask if you bought illegal drugs?

>>22844716
a good reason never to use kikebase or any centralized exchange. Good luck irs in trying to trance metamask and offline wallets.

>>22847871
Taxation is only necessary when the government overspends. It's not necessary whatsoever

>>22844716
uphold the 4th amendment and always mark no

>>22845020
As in any gain at all. Swapping shitcoins is a taxable event and you have to calculate if you got a gain or loss and pay taxes on the gains. Also, airdrops are taxed. Anything you get for "free" is taxed. Your tax rate depends on your income. Rates are graduated so you pay that tax rate up to the point you move up to the next level and you pay those higher taxes on that income until you hit the next level and so on. Short term gains are taxed at your income tax bracket. Long term have a separate tax bracket that depends on your income.

>>22846383
>pokemon cards
You get taxed on every gain boyo and collectibles have their very own tax rate of 28%.

What's the best thing to do if you're trying to buy a house in the U.S. with these so called "crypto gains"?

>>22845305
the numbers are public

a holders CONNECTION with them is not

>>22847260
You are a genius

>>22848332
Me personally, I'm just waiting for the dollar to collapse and all institutions to crumble. On the other side of that (assuming the communists get their shit pushed in) we should be free of ZOG and their tax collectors.

>>22848642

Okay fren, but wat is best route if need house now

>>22848332
1. You need to season the funds. You can't just withdraw and use it for a downpayment and *apply* for a mortgage.

2. Above does not apply if you're paying it whole in cash.

3. It will be suspicious as fuck if you purchase a house in cash, without an LLC - no one, I repeat, no one buys homes in cash w/o an LLC. Your agent, their agent, realtor office will be "what the fuck" and your transaction would most likely be reported, it is required of the banks for over 10k - SAR/FINCEN.

So you need to learn , how do people with money buy property? What is liability? What is asset protection?

If you have savings, that is from income like a job - I would make no mention that you have crypto gains, and personally I would just deposit more overtime (because it will be required to show where the funds came from, 90days+ in a bank account is good enough.)

1. Deposit funds.
2. Wait, season the funds.
3. Shop around, pick the area you *Really* want, nothing short term, but what is a future for you.
4. Get a pre-qual, they only last about a month before they make you re-do it for the credit hit.
5. Make sure to get a competent agent for you, 20% down is perfect, target that, bit more is fine but really, 20% is boilerplate.
6. Enjoy closing, waiting, don't skimp on title insurance - fucking pay it.

>>22848676
Consult a CPA and prepare for anal reaming taxes.

If you buy gold/silver with btc online then sell at gold exchanges(less than 10k per transaction) could they find that out? Asking for a friend

>>22847622
OH SAY CAN YOU SEE

>>22844747
try my 30k+ transactions using DOGE and other meme coins as stable tokens. it will take them years to make any sense of it

>>22845043
>use coinbase, never cash out more than 20K from there
coinbase reports your earnings.

>>22848332
Once you have 2 million you can rent a new place whenever, around the world.
Why tie yourself down like some corn fed boomer faggot?
Unless you plan to drag children into this miserable rotten world, in which case you deserve every misfortune in your life, for cursing someone else to repeat it.

>>22848845
Most places in USA do not report on your behalf for under 20k.

Coinbase, and other tech companies, uber/lyft/airbnb/ebay/paypal/shopify follow the same rule.

20K+ it's mandated they report.

Under 20K, it is not.

Now, I wouldn't abuse it and do 20k on Dec 31st and then on Jan 1 the next year.

Nor would I use it from the same wallet origin to coinbase.

But it's a good option granted that you know you have it. 20k is 20k, and many people in the USA, about 40% of the population do not make 20k in a year.

>>22845043

Can you talk about what an audit is like?

Like how do they contact you? What is the process like? How aggressive are they in how they treat you?

>>22845103

No taxation means no public services or government whatsoever. How would that even work?

>>22844803
It clearly counts as "otherwise obtaining a financial interest"

>>22846469
They probably browse biz as well, I've seen some boomer quality posts on here praising the Q for being "knowledgeable on investments"

Getting real fucking tired of this shitty government.

Why am I getting taxed if the government can just print money put of thin air like it has been doing?

Serious question guys

Sea like they want to keep people poor

>>22847110
There is nothing ambiguous about it at all, the tax law is purposely very generic. People who think crypto is new or special in this regard are basically coping

>>22848992

>>22844716
I really don't like that they call bitcoin "bitcoins" and ethereum "ether". It just screams out "boomer"
>Laura Saunders
kek no wonder

>>22847260
>>Give yourself the rest of the supply
This is where you incur $1bn income

>>22848689

I appreciate the advice fren

Unfortunately from your "shop around" I'm really kinda stuck

I have no family. Parents are a mix of actually brain damaged, functionally illiterate, abusive, narcissistic, etc pieces of worthless impoverished shit. Cannot wait till dead desu


Brothers are schizo/assburgers/drug addicts


I myself am physically sick as fuck, borderline terminally ill. If I can get away from the bullshit tho, which it's looking like I may be able to (been in crypto since 2011, never had capital but do now) - I can probably live for 15-25ish years instead of 5ish more at current rate of not being able to take care of myself (no I'm not an obese burger or anything, vascular connective tissue disorder than I need to be able to eat incredibly healthy and lift daily to combat)

Can't live with roommates and need to have a decent bit of space. Really hard to explain. I don't want to plop out cash for a house... but a mortgage is a bit fucked because of some medical debt, and renting just doesn't seem very plausible for the location I need to stay in unless I *really* make it and can leave the area.

Idk what to do fren. I did everything right in live even with the near shittiest childhood you can have in U.S.A.

Had to drop out of college for 2 stem degrees and 2 minors with one year left because med shit got too bad to function. Have to have surgeries and a healthy lifestyle after to be able to go back and finish them

I just want to have a comfy place to live without getting rapes by the tax jew :'(

>>22846699
At least file but do it wrong. If you make a mistake there's a statute of limitations till they can't go after you for it. If you hide an income and they find out later the statute of limitations timer starts when they find out about it.

>>22849091
Hello kike.

>>22844716
I mine and only deal in XMR

Chainlink is a utility soooooo

This was already on my tax form last year.

>>22849028
Check your privilege burger and pay up! Diversity isn't going to pay for itself!

>>22848941
>what is the difference between municipal and state/federal taxes

>>22849188
What if I start a 501 whatever and give away fried chicken, watermelon, and crack to black communities, would I get a tax break for that?

>>22844716
hmm how cute but since I dont transfer to my bank account any crypto gains I make are mine and mine alone. you're dismissed shekelman you wont be getting my info no matter how much you cry and try to manipulate laws to steal money that never once belonged to you.
but that's the way of the sharp nosed shekel man isnt it? trying to grab your tokens from you while screaming THATS MINE THIEF!

>>22848924
They send you a letter, you can never get in touch with them on the phone - so you communicate.

They send a correct report, you have the opportunity to disagree or agree.

You are still charged penalty and interest.

You then send a letter, asking for forgiveness and such.

They agree, more letters.

You submit a check and the stub and that's it.

Now, for more expensive audits (this one was less than 10k total) they probably do more scary letters and maybe even a house call, before they mail you a court order and subpena.

>>22848689
Why is it so taboo to buy a house in cash?

>>22849028
We literally have a more niggerish president than Obama.

>>22849137
I sincerely fucking hope one of you idiots try to pull that crap. It's not the first time you bozos thought of that, either.
You're going to get fucking destroyed if you ever want to take those worthless tokens and put them into dollars in the bank

>>22849247
How bad are the penalties?

>>22849247

How did they determine that your tax info was underreported?

>>22849306
You must give all you money to blacks an jews

>>22848269
Fuck that.

>>22849373
WHAT THE FUCK?!?!?

>>22849121
You should have an interest in your parents death. IF you have some money, why not buy them an life insurance policy.

You are their son, this is not legal ji-jitsu, but you're protecting an interest and whole life insurance is capable of that.

Younger is better because after 70+ it's really damn hard to insure.

But it is a guaranteed payout. Of course, if your family is shit.... and one goes out...and the other doesn't, you may have to share.

As for schizo/drugs/aspie.

That shit is genetic, I'd make sure to review my body, my thoughts and my life to make sure I wouldn't subcumb to those same ends. I applaud you anon for asking - and I'll go a bit more in explaining.

1. Living in the USA is an expensive country, you can retire to south east asia, with ease and live a much more fulfilled life. South america too, but, I don't trust south america.

2. There's things called medical tourism and retirement, you can qualify for many of these programs by having some coin or being of a certain age. 35 is for the philippines, similar for thailand. I highly suggest this as it will resolve your visa problems, banking problems, etc. There's FACTA, but, you can work around that.

How?
1. You can pick up a local identity. This is called synthetic identity fraud, but no one really cares, especially in SEA.

2. You can find a local, use them, marry them, love them. Doesn't even have to be different gender if that's how you roll anon. Of course... there's many stories of people online that befriended a local, and made them angry and...with all their assets in the local name such as land, property, etc... you can lose everything.

South EAst asia and South America have very successful crypto ecosystems, which you can tie yourself in as a incubator to help grow, or exploit to cash out.

20 years is still a mighty long time to live. Why waste it living in USA/

When your financial runway because 5-10x more abroad?

Your journey is really exciting, anon

>>22849256
1. Investors usually only buy houses in cash, or foreign buyers, someone that has *that much liquidity.*

It isn't *bad* buying a house in cash, but you have to assign it and structure it so it's not suspicious as fuck. If anon over here is asking how do I --- he's no where near ready.

If you want to buy a house in cash, I'd suggest biggerpockets, it's a normie forum for house buying and such.

Cash, is audited. You also don't know where your money is going, or the sellers financial position. The agents on both sides also want to avoid getting their hands to dirty, especially on a newbie like you so they want to mitigate liability.


1. File an LLC, state does not matter.
2. Open a business bank account, almost all banks require physical presence to do this. There are exceptions, but, no aly or online banks aren't going to cut it for business. Deposit the cash, the best time to make a large deposit is upon new account opening because it's "expected."
3. You have an LLC and you have the cash, but you have no idea how to structure the sale, usually cash deals you forgo your own agent, hire a RE lawyer, and then you consult the listing agent (unless it's for sale by owner, which, is never worth it, ever)

You make the offer, usually on the states unique rider, you waive contingencies such as financing and inspection because a cash deal is 100%. If you're in a hot market, you tell them no escalation clause.

Then you need to wire the money into/the RE Lawyer usually sets up escrow.

You need a check for the earnest money.
You need to wire the full amount minus the earnest money.

Then that's it, there is a bunch of other small stuff, but the RE lawyer takes care of assigning the deed, the broker documents the sale and you're good. But, essentially buying a house in cash means:

"HEY EVERYONE, I'm NEW IN TOWN, I BOUGHT THIS HOUSE FOR 300K CASH"

You can view this info on property apprirors site.

>>22849589
The exception here can be, if your market is really *hot* *hot in terms of chinese/foreign buyers routinely doing this. Seattle, San Fran, LA, NYC, Chicago -

But, then, usually they have a language to fall back on, they have a network, they have a cultural bond to help out one another and they do shady as shady shit like adding the purchaser to their pre-existing corporation as they deposit their cash, but they use the cash already established in the account to purchase and then pay a fee for the convenience.

There's more, but, it's a game, anon - and, well,sometimes it's easier to play by (((their))) rules vs trying to go out and discover how to be cheap about it or do it differently and getting fucked, having your crypto/cash SEIZED (cause, hey the only reason why you have so much money from crypto is drugs, rightttt, anon)

or worse, you didn't pay your taxes. Tax cheat.

>>22849371
I claimed to many deductions and tried to deduct home office expenses and other misc stuff so I could make my report a whole number.

I got most of them anyway, so fuck yeah.

>>22849429


Nah, like I straight don't interact with them. Wouldn't for $250k lmao. They can't have real life insurance policies either, have history of shit health and smoking and such already on file. Also old to begin with, like 60's old. I'm 20s. Yeah, old fucks probably shouldn't be able to have kids. Research seems to indicate bad outcomes.

I'm aware of the hereditary medical stuff

Also aware of most of the rest about what you talk about.

Unfortunately, aside from maybe China that Westerners really arent aware of, all of my conditions have the leading edge research based in the U.S.

People come from just about the entire world specifically for treatment of this in the U.S., so I'm kinda stuck. However, once I can get thru the initial treatments and more towards a path of recovery, which is about 5 good years of doing shit right in the U.S., I am interested in GTFO to SEA or something.

I'm pretty much stuck on having to get a place in the U.S.

I can get a fairly small shitty place I wouldn't be able to have cool fun with (live in a crazy fun yet small college town) for like $85k. I can manage the tax logistics of that kinda easy. For a less shitty life I'm unfortunately looking at like $300k tho. Fuckin stupid, I know, but the location is kinda important, and the only other place is want to be is SoCal which is an $850k+ investment. Plus that's scary because I don't know how long it'll be until I'm able to have an actual job haha.

Fuck me man. Idea for the time being was basically pulling $7.5k weekly ish from a few different exchanges I'm grandfathered in to to a few different bank accounts. Can probably manage some LLC stuff and have an acquaintance who's a real estate broker... but kinda stupid in general.

>>22849695
Anon,

Pull your credit report.
Check it.
Fight it, pay off and settle.

You can pay for delete, which means you contact the active debt servicer, and offer 30-50% for a PFD - this means the debt is discharged fully.

Alternatively you can also request authentication of debt, and they usually drop off too.

Debt that is 7yrs+ can be dropped off, so I'd only pay most recent ones first. Statue of limitations thing.

Paying with cash means nothing anon, to some people, and some situations, owning a home is a shitty asset. If you have 250+ in crypto.

Just setup another wallet, transfer it to that wallet, then to an exchange like coinbase and deposit as fiat.

You want to extend the chain as long as you can. And sure, there' tumblers and such, I'm not sure if grams is still in service, but when it was it was great.

Coinbase won't report under 20k, and even if you do more, who the fuck cares, report it and pay taxes. You're fine until 60K.

Live life, be happy, find a nice place to rent for 6 months - 1 yr. I'd suggest somewhere sunny and warm for winter.

Use that lead time as a run way to build your financials up, and work on your body. Decide what you want, cut off your family, kill them, I don't care but anon.

You are you and only you know what you want. :)

Small payments of 7k or so are fine, but, the issue here is, the history. Regression. How far does it go back, where does it lead?

And then being called into a position where X does not equal Y.

X=/=Y.

Most banks do not care about a 5k/9k deposit weekly.

Banks aren't required to report your deposits at that threshold and they aren't required to judge if you're a tax cheat or not.

You need to make the right choice in compromise, pay some, keep some, launder the rest, up to you.

But live life and be happy.

>Delete social media.
>Hit the Gym
>Do that keto thing.
>buy nice clothes.

and don't drink alcohol.

>>22846446
I made the reddit spacing meme with a bunch of friends on discord. We always are looking for stuff to force and one time my friend was posting on reddit in a call and said 'he hates how reddit spaces sentences out when you clearly want to start a new line' and a friend nonchalantly said 'reddit spacing' and we all clicked at the same time and new this was gonna work. The great thing about this is is that at least for me and my friends, it's a great way to tell the sheep from the rest of them. You're a sheep and whenever you mention reddit spacing it makes my little cock hard.

>>22844884
I Miss these demoralization threads. The government does not care about our tiny prick stacks. I buy and hold and if anything I’d get credit for losses. Nice try guys!

>>22849589
>>22849626
This makes me never want to fucking buy property...

>>22849836

Thanks for info

Unfortunately I'm really fucked lmao.

Used to be big into lifting. Can't lift until surgery and 1+ year recovery.

Always wore nice clothes I tailored myself. Can't wear even moderately fitting clothes anymore until surgeries. Tons of fucked up nerves around my shoulders, sensitive as fuck to touch and most clothes make shit spasm up hard. Gay as fuck and hard to understand, I know.

The things in life that make me happy is mainly building shit. Building shit requires tools, tools require space, shuffling around tools and a workshop to rentals is annoying as fuck.

I'm going to have ongoing credit issues. Like, I'm having a lot of expensive medical work done. Airplanes and hotel stays all cost a fuckload of money. Note - don't even have a job. Can't work, and getting on disability would be a pain in the dick and mostly retarded. Crypto is legit everything I have haha.

Don't do social media/alcohol.

Am going to have a good diet, and in the past had a great diet when I was lifting. Unfortunately, now stuck with batshit parents who go batshit fucking insane if I attempt to cook. It's retarded. Only got to a point of such sickness because they never took me to get medical care in the first place. Typically, if treated early, and I knew I need treatment early, shit can be pretty well maintained. But yeah - absolutely fucked up situation. Retardedly nuanced context every step of the way.

I basically can't function without thinking out three years ahead at this point. Like, I have to have a guaranteed three years of housing/financial stability to really be able to get out of this mess at this point, just because of the nature of the medical treatment. Long and fucking drawn out. Unfortunately the only way to have a chance at getting better tho.

>>22850376
>Sounds like Idaho is in your future.

Oregon and Washington too.

You're smart anon, you know your limits.

I still suggest the asian adventure/medical trip when you can. But, if you buy out of a metro area and off the highway, you'll be good.

I highly suggest asian trip, you can find a cutie that you like, and she'll like you and, you know you can help one another out.

I hate to be rude but I don't see you succeeding int he USA dating market.

Hint me on whats wrong with you anon - I Don't think it's cancer, but what's wrong?

But, to reiterate, do this:

1. Document everything you own physically.
2. Spreadsheet, see value, worth.
3. Make a plane, what would it take for you to leave, tomorrow? next week?
4. Work it out, accomplish it.

Low amounts of cashing out are 100% okay and are to be expected - your happiness requires it.

Then you're somewhere new, how would you make friends?

Think over that.

I think you're well enough to run, walk, drive, fly, but for how long?

Cambodia is open for USA, and so is S. Korea.

You can also have fun on dating apps like tinder/bumble to make friends abroad, or anywhere in the world. You can modify your location for free in the browser via developer tools.

Or you can pay for it if you want zero effort.

I know, it's social media, a dating app - but it helps to cope and to see where new areas in the world are, and if you ever go, regardless if it's Chicago or Bangkok.

You'll have a cutie you know in town, or maybe, even, waiting for you.

Jokes on your IRS I got to write off my losses.

>>22844950
Bitcoin.tax you retard

>>22850960
>Bitcoin.tax
>Asks for Google, Email, Coinbase.
>You pick how you report yourself to the IRS!

>>22850635

I've done fine with chicks man. Tbh, completely out of my league more often than not. Probably because scientific based intelligence, fairly logical, and being handy with tools lmao. Know that statement in general sounds autistic on 4chan.

I have vascular ehlers danlos, severe bilateral vascular thoracic outlet syndrome, and a mild but severely debilitating CSF leak.

tl:dr, I'm in pain all the fucking time. Like, genuine, debilitating burning fucking pain. A large amount of dizziness and confusion as well. Plethora of debilitating symptoms.

Now that I/doctors are aware I have the connective tissue disorder, there's hope. Basically, you just have to lift, exercise, and eat incredibly fucking well. Maintenance for life basically (anybody should be doing that in the first place tho, desu)

However, since I've already been suffering medical conditions caused by the connective tissue disorder for fucking years untreated (the thoracic outlet syndrome, CSF issues) it's literally impossible to do the maintenance shit until you get that all fixed.

The thoracic outlet surgery's are 4 months apart each, and around a year of bestest/rough ass recovery (if you don't end up completely disabled from either of the surgeries - very real possibility, but I have the actual best surgeon in the U.S. - took forever to get to the fucker, he works for the NFL/NBA/MLB/NHL)

And then the CSF issues are tedious as fuck to clear up. Generally takes 1.5-2 years once active treatment starts. Mine hasn't yet.

And yes - the fact I can still pull chicks but not actually continue with it throughout this is fucking hellish lmao.

Being in the MidWest where I am now is great because once I have said surgeries, I have surprisingly good maintenance care options here - and it's a midpoint between the two issues. Thoracic shit is in Boston, CSF shit is at Stanford/LA

So staying where I am is good for now. Once I'm better, I'm pretty much fuck it to SoCal as fast as I can.

>>22851020
some of us don't enjoy getting ass raped by the IRS. either play the game or risk getting rekt, I don't give a shit

>>22851039

But, basically, current issue is getting out of parents house via crypto money - and with the goal of not being tax raped in the process. Can't live with people and rent which is the cheapest choice, and renting a place solo seems like a fairly large waste of money. Stuck in-between mortgage or straight cash for house basically. Then there's breaking it up into mortgage with large downpayment, or as small as needed. Hard to decide.

Starting on the medical issues is just impossible living with them. They're like reverse stockholm munchhausens and try to actively fuck over my med situation so I'll be stuck living the same hellish shit life they did. Sounds unimaginable if you came from a normal family... but I'm not lying lmao. Fucking MidWesterners and their leaded fucking gasoline and lead paint man.

Tell you more over telegram or something if you want to talk to a dying retard haha.

>>22844716
This already happened in 2019. KEK. I paid you JEW FUCKS 40% on my 20,000% this year. Enjoy the money while I do it again and then drop the fuck out.

Besides, soon Ecochain will ensure I never have to step foot in America again.

>>22849589
Why is any of this necessary? Are there penalties for buying in cash or will people just choose not to deal with you or something? What if you report all of your gains anyways?

>>22851116
>so I'll be stuck living the same hellish shit life they did
I know this feel, anon. Do what you must to escape. I've never regretted it.

>>22851116
why not anon, I'll message you.

Make a fake tg, post it, then after a while when we comfy..BAM

IRS!

>>22844716
don't you have to actually make gains for this to matter? asking for a friend

>>22851215
The above is the minimum for any cash transaction, the problem is, when you go to your agent/RE lawyer, they're going to be very tard if you say "oh I'm going to cash out my crypto gains, lol."

The above procedure is just how *it* works. The problem people will have with this is - stating where the income comes from.

I buy houses in cash, because I flip them, but I have an aged llc, I'm known in my community and it's okay. That isn't the issue.

The issue is moving the crypto > fiat > your bank to use it for a house purchase.

>>22851324
Why though if you report it to the IRS? You'll have a paper trail

>>22851360
Ya it’s fine if you can cover the capital gains tax. But most don’t want to give money away. If you don’t sell or trade, you pay no taxes. That’s the problem.

>>22851360
Then it does not matter, the joke in this thread is that we're better than the IRS and how dare they take our gains.

If you report, it does not matter. You pay your tax, money is clean, provided it wasn't dirty crypto funds (but that's a different story.) and that money is welcomed into society, banks, etc.

Technically, you don't even have to pay taxes until *next* year. So, it isn't like you have to write a check the same day it hits yoru account.

The problem we're discussing here is liability.

And how coinbase/gemini/whatever the fuck out there will report it as soon as you turn it to dollars on their exchange. no deposit needed.

It's always best to pay your taxes.
That website that the other anon posted, bitcoin.tax does a really good job explaining your liability.

And for the easy route in life, you should.

But, if you're greedy, you always have a choice not too.

>>22851402
>>22851409
That's fair. Best of luck, tax dodging anons. I have a family so I can't even think of risking that

>>22848833
They don’t have to work it out. They just make an estimate and make you prove them wrong or negotiate a number to pay

>>22851290

Lmao I can't tell if your serious or not.

I'm hiding behind 9001 Skellington proxies, IRS can go suck NSA dick if they really want me shekkels

>>22851263

Homie I had a full ride academic scholarship to Notre Dame. That wasn't enough to save me. It was a lot, but I got fucked by the shit doctor game for too long and had to drop out with a year left. 4 fuckin degrees man.

Average person with either of the three issues I have sees 4-12 doctors over the span of 3-11 years before they get an actual diagnosis and get to start treatment.

Sorry for AMP links, but here are some fun reads if you're interested

https://www.nytimes.com/2017/11/02/magazine/why-was-their-brothers-memory-and-behavior-so-strange.html

https://bleacherreport.com/articles/217945-from-unhittable-to-homeless-the-jr-richard-story

Pro baseball player got fucked from a surgeon before much was known about the condition, surgeon literally ran into the dude under a bridge homeless one day, was like "well, I'm never going to do that surgery again" and swore off it for life lmao. Hilariously, he's made a few good diagnosis of the condition in the emergency room he works now. Slightly mentionable because most ER docs have no fucking clue it exists.

it isn't a currency

>>22851550
KEK /biz/ only buys erc20 "tokens".

>>22845132
The IRS defines certain terms. They don't care if you are interested in crypto. They want to know if you 'acquired interest' which has a specific meaning. You don't get to take loose textual interpretations of terminology they clearly define.

>>22844716
Thank God I'm not an Americuck and neither a wake Europoor.

Eastern Europe for life, bitch.

>>22851834

Enjoy getting your country literally ran over during the next world war homie

>>22851834
>Eastern europe
now i realize why we pay taxes. never-mind ill be honest about my crypto gainz

>>22844716
For what shall it profit a man, if he shall gain the whole world, and lose his own soul? (Mark 8:36)

I'm sure many of you linkmaries and the rest of /biz/ will be very rich on earth, but don't miss out on eternal life which is literally a free gift of God that we can receive it through our faith only.

Not going to hell for your sins and receiving the gift of eternal life is more valuable than a ledger will a million links or a dream crypto stack of your choice.

If you believe the gospel (pic related), ask Jesus to save you right now. Here's a gospel video if you want to hear it instead.

https://www.youtube.com/watch?v=p6CY1Dgvy8c

Aren't you guys over complicating this? I know crypto to crypto is taxable, but every loss will cancel out a gain. All that matters is what you put in vs what you have. Write down what you had Jan 1st, then calculate what you have on Dec 31st. That is the amount you made (assuming you've been trading regularly) otherwise, it would be from whenever your last trade was. If you want to pay your taxes just calculate the difference. Sell some crypto at the end of the year to cover it. That is how I paid mine from 2017 anyway

Alternatively, simply don't trade and never cause a taxable event. Or, if you do trade, just do it on a DEX and they will never know.

>>22844944
This. The question has been there at least a couple years now, they just moved it from the top to down below. Shitty clickbait article.

>>22844970
based

>>22844980
This. Only ppl who they will investigate are the ones that cashed out investment for real dollars (like +$10.000). At the end of the day they cant see crypto other then stocks trading

>>22844716
I just checked 'no'. It's up for interpretation. The question didn't sit right with my brain.

>>22848941

>>22851409
Alright, I'll take the bait.
Let's say I do extremely well over the next bullrun and sell BTC or ETH or LINK or whatever for $$$.
Before doing anything, what are the best steps to take to ensure that I'm safe to go move to the other side of the country and buy a house innawoods worth considerable $$$?
Obviously, I think I should just go straight to a crypto tax guy and/or an accountant. Would anyone even help me before I turn that BTC/ETH/LINK/whatever to $$$?

This is honestly the biggest question I have.
I don't plan on cashing out any sizable amount before I have enough to hire people and not give a fuck about it anymore.
How expensive is consultation like this anyway?

>>22852008
Pwnd

>>22844970
based

>>22845103
Based.
Taxation is extortion.

>>22844716
I can't imagine being americuck. Thank god I live in a free country.

thank god i'm in canada

>>22844970
B-b-b-b-based. Thanks for deflating my LINK, anon.

>>22845043
>Reddit spacing
>Reddit markdown
This is either bait or you need to go back

>>22844716
/shrug

I paid like $45 to some crypto tax website that uses the read only API keys you can create on exchanges. You input the keys and it scans every transaction you made and figures out everything for you. Then I put that in to credit karma and did all my taxes for $45 since credit karma is free.

I'm squared away with the IRS for 2019 and will be doing the same thing with my 2020 taxes. Having peace of mind is better than cheating the IRS and looking over my shoulder forever.

>>22851957
...and then you woke up, you filthy mutt.

>>22853866
Nah, all that is actually good advice. The IRS already knows you've transacted in crypto if you use something like Coinbase. No reason to perjure yourself. Just check the box. That's it.

Metal chads win again. Better luck next time.

>>22844716
>keep income below 40k, max out 401, 403, donate to charity, start a business, etc
>only sell crypto youve owned for over a year
0% tax, eat a dick IRS

Thos is completely legal and is the reason CEOs pay themselves a dollar salary while taking all pay in stock.

Now you know how to legally game the system retards, yr welcome.

>>22854356
You forgot incorporating your business in somewhere like the Cayman Islands so you can use it to buy a lambo, tax-free.

If you want to own property in the US you will have to pay massive taxes though. No way to get around that, AFAIK

just use 0_x_M_R_ and flame.exchange, no kyc

>>22850139
How the hell does someone navigate the legal and financial system in this country without a Jew family?

>>22844716
Don't forget to pay your taxes amerifats while Tyrone fucks what could have been your wife after destroying 400k in property during his last BLM jogging.
It's impressive how you always boast about "muh guns" while never doing shit against your dystopian gov.

>>22848941
The US had a government and public services long before it had income tax.

I clicked yes. No further information was asked of me.

ez, no. just bought. proud to be an american

>>22853290
1. Immediately you transfer the assets to a company/llc you incorporate. It's better to do it where you know business/where you live. Don't fall for the meme of delaware/nevada corporation. While, technically, yes you can do a blind llc/corp and other stuff - it is not worth it.

2. You transfer by pre-dating a paper, contract, or fuck it you're a entrepreneur and put the crypto in the companies assets.

3. LLC's have passthrough taxation, so you still will have to pay the same capital gain, but you are also shielding yourself from liability and can easily, purchase stuff with cash, but it's better to build up your llc for it's own credit line. You can use your own, but for any new llc/corp for first 3-5 years, it's usually personal guarantees. But hey, now you're "Self employed" legally.

But anon, you'd wouldn't be to smart if you were to cash out and buy a house. That money can be much further used if you used credit, used a down payment and then threw it on index funds or such.

Usually accountants will have free consultations, as well as attorneys.

You don't talk to hedge fund managers, wealth advisors, insurance agents or brokerages. Many of them are not fiduciaries. I do suggest schwab they're prety cool, or even etrade/ameritrade whatnot but that's for business checking and to move your fiat into index funds/stocks for more investing.

Then you just pay your taxes and that's it.

You can also much more easily claim deductions and business expense to reduce your liability. You can even make up some too.

--

If your crypto is on a wallet, fuck it, just use uniswap and cash out overtime with localbitcoin/eth at 3-5% fee, get good credit and trust someone and you can do bigger transactions when they trust that you aren't a malicious party.

That cash is clean.

Or go to crypto groups, there's always someone a bit unethical, talk small amounts first, take them out for dinner and treat it like a nice date and see whose doing the fucking.

>>22848941
>No taxation means no public services or government whatsoever. How would that even work?
>If the government didn't take back some of the pieces of paper they print and give out for people to use as money there would be no public services or government whatsoever. How would that even work?

>>22852550
>Or, if you do trade, just do it on a DEX and they will never know.
This ignorance is going to cost a lot of people. Imagine thinking the IRS can not track on-chain trading.

>>22855493
Lawyers.

As if the world will exist by then.

>>22850376
Hi mate. Please try this for me. A ketogenic diet, no cheating. Commit to it.
Also immediately start supplementing with fulvic acid. Look up Black Oxygen Organics, and order it asap. I’m willing to bet you’ll get over your health issues in a couple of months. Almost everything that is making us sick can be fixed with the right diet.
Please try for me Anon. Be strong and commit to it.