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26059228 No.26059228 [Reply] [Original]

How to evade capital gains taxes on crypto?

>> No.26059246
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26059246

>>26059228
easy, just don't sell

>> No.26059250

>>26059228
Never cash out

>> No.26059256

>>26059228
If they got McAfee, then they can get anyone. Just get another x2 and pay your taxes.

>> No.26059283

>>26059228
You should probably just take the hit, or discuss it with an accountant who knows what he's doing.

>> No.26059286

Go see an accountant. There might be options that help you depending on your local jurisdiction and tax laws. Forming a corporation for instance might give you access to new capital gains loopholes. You might also have exemptions you can carry forward from past years.

>> No.26059321

move to Portugal

>> No.26059335

>>26059228
Sucks to be a Burger...

>> No.26059446
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26059446

>>26059228
Make sure you hold longer than 1 year before selling. Don't sell anything you've held for less than 365 days because taxes are higher on "short term trades" i.e. <1yr

>> No.26059517

Don't cash out, cash out when you have so many millions that you don't give a shit if a few mill gets taken away.

>> No.26059548

>>26059256
this, Jamal deserves his fair share. Imagine where you'd be without him.
>>26059321
>moves to Portugal
>gets robbed by Moors

>> No.26059576

>>26059228
Easy, quit your job. Cash out to the 0% longterm gains rate. How much is that again?

>> No.26059594

>>26059228
Move to Hong Kong, zero capitals gains tax

>> No.26059617

>>26059576
Right so, it's 40k per year you can cash out tax free.

>> No.26059643

If I trade into a stable coin, is it still taxable?

>> No.26059678

>>26059228
Pretty fucking easy if your crypto never touched a KYC Site

>> No.26059688

>>26059643
Yes. Any sell, conversion, swap is a taxable event.

>> No.26059708

>>26059228
buy cash on localbitcoins.com

>> No.26059715

>>26059678
So, how do you avoid it hitting your bank ultimately? Gift cards? Some BTC credit card?

>> No.26059722

>>26059228
hr block ?

>> No.26059757

>>26059715
>Move to a country with $0 taxes on gambling winnings
>Play heads up poker against yourself on a new wallet
>Sell Crypto and declare it gambling winnings which it is
>No taxes 4 u

>> No.26059758
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26059758

>>26059228
Don't be stinky, keep your linky.

>> No.26059771

>>26059708
So roll up on a dude who has a briefcase with 1.4 mil in cash, sell him your crypto and then just go home and sit on the cash and spend it at the mini-mart?

How old are you?

>> No.26059789

>>26059688
If I trade valuable yu-gi-oh cards for other valuable yu-gi-oh cards with my 12 year old brother, is that a taxable event?

>> No.26059825

I’m an amerimutt with EU citizenship (but not Portuguese) and was wondering if anyone has any insight on how their crypto tax laws work. Would I have to marry some Portuguese girl or naturalize first?

>> No.26059840

>>26059757
>Move to a country
>Covid being a bitch to all nations for the foreseeable future

Some of you guys work arounds really don't seem to have much real value or real world applications. Kinda like shitcoins.

>> No.26059915

>>26059789
Collectibles are considered tangible personal property, and when sold for a profit, capital gains tax is owed. Collectibles like baseball cards(or in your example yu-gi-oh cards) and sports memorabilia are considered like-kind property and can be exchanged on a tax-free basis.

So exchanging/trading one for another is not, but selling one is a taxable event.

>> No.26059949
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26059949

>>26059228
https://medium.com/bitgreen/unlocking-bitgreens-potential-with-polkadot-88061d916300

>> No.26060049

>>26059228
launder it through drugs

>> No.26060627

>>26059915

Seems like bullshit to me.
Trading crypto - crypto should be the same shit then.
Crypto is not a fiat currency. And in the world of computers it's actually tangible code - so why is there taxation for this kind of trade? Just because the taxman can't physically touch it?
Pure retardation.

>> No.26061441

>>26059228
Move to a better country lmao

>> No.26061515

>>26059825
Retard. If you have EU citizenship you can move to portugal no problem. You just have to live there for 6 months before you can become a tax resident.

>> No.26061519

>>26059825
>marry
So u prefer a 50% taxrate

>> No.26061561
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26061561

>>26059228
I have no problem paying taxes. I will never move to a tax haven or fuck around with shell companies. I want my country to make it with me.

>> No.26061630

>>26061561
Jacqueesha will def spend your money wisely

>> No.26061675

>>26061561
This....what level of of sheep is this?

>> No.26061701

>>26061561
this but if my country wasn't teeming with african parasites

>> No.26061707

>>26061519
You mean 100% tax rate

>> No.26061825
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26061825

>30% capital gains tax where I live
>If you move, you are still obligated to pay the 30% tax for up to 10 years
>Even if you are no longer a citizen and have no connection to the country
Absolutely draconian, how is this shit allowed?

>> No.26061892

>>26061561
>I have no problem paying taxes. I will never move to a tax haven or fuck around with shell companies. I want my country to make it with me
Ideological mommy's basement dweller with zero tax paying experience confirmed.

>> No.26061901

>>26061561
>Subsidizing a million nigger parasite spawns is "making it" for his country

>> No.26061924
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26061924

Stop doing crimes.

>> No.26061947

>>26059594
what ? for nationals?

>> No.26061958

>>26059228
Live of staking/ yielding gains and only cash out below the tax level. We’ll have more options very soon

>> No.26061970

Easy, just buy non-shit coins where you can hold it for a year+ to cut your taxes in half.

>> No.26061983

>>26059228
Asset Backed Equity Line of Credit

>> No.26061992

Isn't it possible just to use a bitcoin ATM somewhere ? Do you have this in the US ?

>> No.26062020

>>26061561
your country hates you

>> No.26062035

>>26061825
>obligated
Just don't lmao they aren't going to arrest you in a new country

>> No.26062043
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26062043

>>26061924
Never.

>> No.26062091

>>26062035
Most modern countries have tax agreements with eachother. I'm sure I'll get flagged by the new government and they'll tell my old one to investigate.

>> No.26062108

>>26061630
IM SO SICK OF PAYING TAXES FOR THIS SHIT

>> No.26062125
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26062125

>>26061924
No.

>> No.26062124

>buy crypto on shite like binance
>make gains
>spend gains by buying shit with crypto
>don't get taxed
???

>> No.26062152

>>26061561
I wouldn't have a problem with that if the money is spend well but I know it goes to more immigrants, shitty bureacracy and propaganda so I really want to pay as little as possible.

>> No.26062178

>>26062124
That's fine if you wanna buy toys or food or something.

>> No.26062234

Do what rich does

- use corporations
- generate cash flow out of your asset- yield from crypto which is taxed favourably than CG
- push cashflow back to business assets (crypto)
- offset all costs including regarded gas fees/ exchange fees/ research cost etc.
- use tax loss harvesting. Keep a bunch of crypto bought at highs, sell them low during the fiscal year

Key to pay less tax is “how to effectively defer it”. Tax is a short term liability as a business and your job is to keep defering. If you are US citizen then read about laws around dividend taxation.

>> No.26062420
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26062420

>>26062234
>Do what rich does
Based. Thanks for the info

>> No.26062524

Hungary just made it so no one under 25 pays income tax, so there's that

>> No.26062562

>>26061825
that France?

>> No.26062581
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26062581

>>26059228

>> No.26062609

>>26060627
Welcome to neoliberalism

>> No.26062656

Simple, put your crypto in a maker dao vault and get a loan from it which is not taxable.

>> No.26062671

>>26060627
Because the g*Vernment wants your money to ship more thirdies to your country

>> No.26062675

>>26061958
>more options
I'm not sure how crypto taxes will look in the future, but crypto is relatively new, and sure, tax code relative to crypto will sure be quite different in the future. I think tax administrations are gradually trying to adjust to crypto, and the current system is temporary, it's meant to change.

>> No.26062726
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26062726

>>26061630
>>26061701
>>26061901
>>26062152
>being such a seething retard that you honestly believe corporate and political nepotism doesn't rob your country's treasury of more money than social welfare does.
Nigs and sombreros soaking up tax revenue sucks, yes. But it's nothing compared to corporate handouts, political lobbying and tax evasion of big corporations.
I'm with you retards, but you're fighting the wrong fight.

>> No.26062769

>>26062726
I'm not fighting kek i'm complaining about it on an anime image board

>> No.26062899

>>26062726
Please explain how corporate tax evasion robs a country? Dumb leftist. There should be no taxes except on purchases

>> No.26062940

>>26062769
>>>/a/
you appear to be lost

>> No.26062944

>>26062562
Suomi

>> No.26062973

>>26062899
I agree, no taxes would be fucking great. I'm not a leftist, I'm just not deluded.
If we have to pay taxes, so should (((they))).

>> No.26062988
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26062988

>>26059228
Never turn it back to the jew Note.

>> No.26063215

>>26059915
Arent coins considered like kind? I.e. trade my eth for link isn't taxable being like kind.

>> No.26063242

>>26059228
"Avoid" anon. Not "evade". Biz is a board of peace and legal compliance.

>> No.26063284

The right word is avoid. Not evade. Evading is just not declaring it, which you don't need to be told. What you want tis to avoid as much as possible and not to go to jail. In which case long term holdings are better.

>> No.26063286

>>26062988
CHECKED AND HAIL HORTLERD.

>> No.26063306

It absolutely should be taxed. None of you are buying crypto to actually use as a currency. Hardly anyone is. The whole system is supported by people who want to gamble. Maybe 10% of activity is legitimate C2B or B2B transactions.

>> No.26063338

>>26059228
Start a church and donate

>> No.26063362

>>26063306
Are you crazy? Its all currency; its just not usable yet. We're all in it for the 10-15 year game when these things are used simply as means of exchange the same as any other currency. The only gambling is guessing which are going to be useful.

>> No.26063401

>>26059228
Sir Officer this is not the site you're looking for ok do you want to buy vagene bob

>> No.26063506

Buy ETH p2p then trade on uniswap or synthetix