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/biz/ - Business & Finance

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16072248 No.16072248 [Reply] [Original]

>> No.16072256

That's not technically law just suggested

>> No.16072263

>>16072248
This is how America lost its dominance in the global stage. It just hasn't yet been realized.

>> No.16072459

for burgers, yes

>> No.16072475

>>16072248
who cares about 3rd world anyways?

>> No.16072476

>>16072248
The real question is how could they find out if the exchange your using isnt even allowed in the u.s.? Not like the irs has access to that

>> No.16073001

>>16072263
Speculation isn't technology. I can't wait when they tax crypto derivative trading 70%.
The speculators have to be fucked.

>> No.16074062
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16074062

>>16072476
>buy $1 worth of btc in 2016
>come back with $1,000,000 worth of ETH in 2019
come at me irs!

>> No.16074082

>>16073001
kill yourself faggot

>> No.16074947

>>16074062
the merchants are getting out of hand
srsly wtf

>> No.16074954

don't worry you can't cash out anyway

>> No.16075057
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16075057

Not in France.

Crypto to crypto has been explicitly stated as tax-exempt by law.

>> No.16075139

>>16072248
>A boomer tax man is intelligent enough to figure out what the fuck you're doing with crypto.
Crypto is amazing in the sense that it is fantastically complicated, price flactuations, fees, hacks etc... You could write up a bullshit profit margin and the tax man propably won't have the brains to figure out you're shitting him.
Remember to not put your money all in one bank, that's easy to request info from.

>> No.16075142

>>16074062
Am I seeing things

>> No.16075246

>>16075139
Crypto to crypto is not a taxable event because you can make up any story you want.

> Where did all this money come from?
> I accidentally sold a crypto kitty for 100 grand! WTF lol
> IRS : Ok, I guess that's the truth or something..

This is the actual red pill. Think about it. You can literally get money for no reason at all for simply holding a wallet.

>> No.16075274

All you fucking kids just need to man up and do what right and support welfare

>> No.16075275

>>16072248
If you never cash out in fiat you will never have to pay taxes

>> No.16075299

>>16075275
>If you never cash out in fiat you will never have to pay taxes

^ Also this is super true and 100% unfair. People who figure out how to be in crypto all the time are immune to the IRS...

>> No.16075371
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16075371

>>16074947

>> No.16075390

This is the case in Canada too. Swingers are FUCKED

>> No.16075391

>>16072248
Not in France :)

>> No.16076113

>>16075057
based and frogpilled
How do you calculate your profit when you cash out?

>> No.16076215

>>16072248
rekt

>>16075057
bogpilled

>> No.16076251

>>16076113
You just look at you BTC/fiat buy/sell transactions and compute capital gains based on that (FIFO order), and totally ignore anything crypto/crypto.

If you're in luck and end up with more BTC thanks to your crypto/crypto business and sell more BTC than you initially bought, you just use a cost basis of 0 for the extra BTC.

>> No.16076301

>>16075299
I think this will come in the form of sites like crypto.com and their debit card. I don't personally feel like that'd be secure enough at the moment but a year or two from now maybe it will be. With the volatility of crypto right now too I think there's an advantage of cashing out to fiat simply because you know what you have. If for some reason btc hits $0 and you have bills due you could be fucked even if it bounced up to $30,000 the day after

>> No.16076418

>>16075274
this
>billions for crypto
>pennies fo dem programs

>> No.16077194

>>16072248
does that mean if I dont live in burgerland and cash out my bull run gains into a variety of stable coins I can just use them to spend no taxes

>> No.16077213
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16077213

>>16072248
>tfw not an amerimutt
>tfw dodging taxes is easy as fuck (in minecraft of course)

>> No.16077267

What is the problem here? So is stock to another stock, has been forever in everywhere (at least in 1st world countries).

If you gain something, you pay taxes, if you lose, you can deduct those. So you only pay taxes from what you actually gain.

>> No.16077268

>>16075371
Fucking hell

>> No.16077386

>>16072248
So if crypto to crypto isn't taxable in your country. Is cashing out to a selection of stablecoins and using an account to spend these a viable tax strategy

>> No.16077455

>>16077194
That’s taxable too dickass. Be a good got and give the Jews your monies