/biz/ - Business & Finance

>>24081751
Literally No-one:
OP: *gargles cum in your path*

>>24081751
only for mericans.

>>24081751
Not if you don't report it.

>>24081766
>Literally No-one:
>OP: *gargles cum in your path*
That's just /Business & Finance/ in general.

How do burgers even cope

>>24081751
I feel you dude

It scares me too which is why I’m never ever going to sell

That's why you gotta go long term holds, buddy.

>>24081751
lol this has helped me forge my iron hands. i dont want to do taxes on shit before i finally cash out.

>>24081751
Not here in norway

>>24081751
Only if you live in a "free" country

>>24081782
and here in UK

Even in America it's not really taxable. The only thing they care about is when you cash out.

>>24081751
yes. And you have to pay income tax on staking rewards and interests gained through various defi games

>>24081800
checked and based

>>24081751
Not getting a cent from me schlomo

if I held USDC or tether for a year would it count as 1 year capital gains tax reduction and I can cash out at 20% tax?

the cyber terrorism really ramps up when gmt+12 picksup huh

nigger faggot nigger faggot kikes kikes kikes

>>24082011
If the IRS see you've put X dollars onto your exchange account and you cash out 100X dollars, they're going to want to know how you 100X'd your principle. If you did it by savvy swapping along the way (which we all know you did) how will you account for the extra money? All those swaps were taxable

>>24082129
What if I just start recording now with the money i have on each crypto, then go from there? Would that work?

>>24081751
>The land of the fee

Whats crypto mr taxman? Is it some apex legend character? never heard of it

>>24082193
If it's not a fuckton then you'll probably be fine.

>>24082227
That's a relief. Yeah it's under 10k so I don't think they would care about me too much. That's it I'm gonna start an excel sheet today or whatever the fuck.

>sends to a random wallet
Oops now I write it off as lost money

>>24082193
I've never been audited but i imagine they'd look at the deposits you put onto exchanges, then compare that to how much you cashed out, then ask how you got from point A to point B. If you only cash out some of your crypto, you'll be facing the same questions again when you eventually DO cash it out

And you faggot cucks just accept that as if it's reasonable at all? Does your glorious leader Biden also get prima nocta?

I suppose you could just lie and say you bought whatever the best performing token has been since you started. That way you could claim you have never made any interim swaps, and you'd only be liable to pay CG tax on whatever you cash out

there's no way that some random faggot like me with $8k is going to get fucked for swapping cryptos on coinbase...is there?

>>24081856
>>24081875
this right here. If IRS were to simplify crypto taxes, crypto prices would plummet from all the retards like me finally selling.

>>24082756
Not with $8k no, but there are plenty people here who have a lot more than that, and are beginning to worry about what will happen, as we've seen some massive gains over the years. I've been buying in since 2014 and have almost made it, but I'm worried about this shit. I'll probably get a tax lawyer to sort it desu

>>24081751
Not in my based country

>>24081800
Why would anyone do the governments job for them? For free?
That's why you pay tax on your income.

>>24082907
Because they'll come after you when suddenly they see 2 million dollars landing in your account from Coinbase, that's why. Jesus, anon....

>wearing pants is a taxable event

>>24082907
yeah I can't argue with this absolutely based and well dressed lad, there's no reason to record trades or speak to jews about your finances.

>>24082997
>pay them $400k
>hey anon actually you owe $16 million on that $2 million profit
>this is not criminal extortion, honest

>>24081800
Basado

Be like me: 800,000 in crypto. Only ever traded from litecoin and ethereum to link.

>>24083180
I never said it wasn't extortion. I merely discussed how to deal with that extortion. If you read the rest of my posts, and bothered to follow the thread properly you'd realise this

>>24082129
The tax code is confusing, you don’t pay the full price of the swap, you just pay the profit, it gets hard going back to all your trades and figuring out all the profit you made and the exact amount to pay and then you have late filing fees which can really cuck you if you ever did a massive swap years ago and forgot about it. The worst thing that can happen is you do a swap for huge gains and then it crashes after the tax year is over and you still have to pay your taxes with no money to pay your taxes with and file for bankruptcy. This happened in 2017/2018 to lots of people btw.

>>24082129
All the swaps are taxable but you don't pay the tax until after you file, as long as you have enough USD at the end of the year you should be fine.

if any anons out there ACTUALLY make it, just go to the Cayman Islands to cash out. It is a tax haven.

>>24081751
Only if you don't have a foreskin ;)

>>24083287
>how to deal
By cucking completely and not even trying to get a fair deal. You're pathetic and your entire country shouldn't exist.

Just do what I do and lose money on bad trades, can’t tax me on capital gains if I didn’t make any

Met the DuckDAO hunters game, does anyone take part in it?

Looks like this crypto incubator can provide convenient options for investments. Please, share your opinion about it

>>24081766
/thread you fucking faggot

>>24081875
same here, wherever I'm tempted to swing trade I think of the tax consequences and forget it