/biz/ - Business & Finance

[Anonymous No.12991491]

>Crypto to crypto is a taxable event
>Crypto is taxed as property, not as currency

t-they got us..

[Anonymous No.12991510]

>>12991491
>paying taxes

[Anonymous No.12991536]

>>12991510
Blockchains are fully transparent, i dont think we can hide. this is more complicated than "just hide it in your wallet bro"

if you ever buy anything sizeable with crypto, even a down payment on a condo, the IRS will come asking where that money came from, and if you lie they will show blockchain proof in court to put you in prison.

[Anonymous No.12991551]

You know you can buy/sell crypto in person to person cash transactions, right? Don’t tell me you fell for the exchange scam...

[Anonymous No.12991564]

>>12991536
This is why you never buy anything over $1,000 with cash. There are other ways.

[Anonymous No.12991568]

>>12991551
that is taxable too, wtf don't you anons ever learn about how taxes work in muttland?

[Anonymous No.12991569]

>>12991536
>Blockchains are fully transparent
>XMR and zencash don't exist

[Anonymous No.12991571]

Tell me about it. Who knows what kind of tax bill I ran up when I was going all in with $20k,$40k, and $60k dollars in 2017

[Anonymous No.12991592]

>>12991569
>he thinks monero, zencash, verge shitcoins are anonymous
you're in for a rude awakening anon, IRS is honeypotting monero specifically, tracking IPs... can't believe anons still use that shit

you're better off laundering on ethereum using mixers/new wallets for every tx etc.

[Anonymous No.12991599]

I'm 100% cashing into USD coin, taking up legal residence in South Dakota and converting to fiat in a local bank only once I've met those conditions.

[Anonymous No.12991614]

>>12991536
Prison? God you are a fucking retard

[Anonymous No.12991624]

use your crypto to buy drugs on the darknet and sell those for easy 2-5x. No taxes

[Anonymous No.12991630]

>>12991614
another dumbass mutt who doesn't research tax laws in his country
>Attempt to evade or defeat paying taxes: Upon conviction, the taxpayer is guilty of a felony and is subject to other penalties allowed by law, in addition to (1) imprisonment for no more than 5 years, (2) a fine of not more than $250,000 for individuals or $500,000 for corporations, or (3) both penalties

[Anonymous No.12991633]

>>12991568
Do you think the kid shoveling driveways is reporting that shit to the IRS?

[Anonymous No.12991734]

>>12991599
Why South Dakota? Anyway I always heard the best action is to buy gold with BTC that has no reporting requirement and then trade the gold for cash

[Anonymous No.12991800]

>>12991551
This

[Anonymous No.12991868]

>>12991734
South Dakota is a six hour drive from me and has no income or capital gains tax. I will report my earnings but just the year after I "legally" move (I will continue to live in Minnesota tho). I will probably maintain a physical presence in SD for less than a month, staggered, but I will spend that time getting my ID and so on.

[Anonymous No.12991919]

>>12991592
>thinks the IRS knows how to honeypot
>thinks the IRS audits regularly
You fall for shit propaganda as bad as a boomer. Are you a boomer, gramps?

t. last filed income tax in 2001

[Anonymous [O1G] No.12991977]

>>12991592
>tracking ips...
what are you a fucking baby?

[Anonymous No.12992298]

>>12991919
Are you me?

>havent filed since 2013.

[Anonymous No.12992321]

>>12991569
>zencash
stay away

>>12991592
they can try, ips mean nothing when they can't see anything about the transaction. besides, xmr is only good for spending anyway, youd have to be insane to keep your money in an alt long term

[Anonymous No.12992612]

>>12991919

What if were trying to cash out large amounts?

[Anonymous No.12992773]

>>12991491
>Fly to Japan or some other country that doesn't tax or regulate crypto
>Open a bank account
>Set up a Japanese crypto exchange
>Trade all your crypto through there
>Home country doesn't know or care
>Send yourself the money via bank transfer or just pick it up in cash next time you go back there