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2021-02-07 09:26 28024234 Anonymous "Crypto to crypto tax" (hanna.jpg 936x1338 82kB)
People aren't actually cucked enough to report every single shitcoin trade from uniswap, right? Lot of us have literally thousands of trades per year on absolute shitcoins, many of which rugged and don't exist anymore. I'm pretty sure the average crypto trader is just reporting their final USD cash out amount. That is the only sane way.

2 min later 28024410 Anonymous
>>28024234 God white people are just perfect

2 min later 28024418 Anonymous
I do. If the coin doesn't exist or I get rugpulled, I can just send it to a burn address and count that as realizing the loss.

3 min later 28024503 Anonymous
>>28024418 Yeah, nah. That's cucked. I'm pretty sure most people aren't paying until they cash out a final lump sum to their bank accounts.

4 min later 28024566 Anonymous
>>28024234 People confuse realizing with taxable event. Taxable event is a balance check of gain and loss. If I trade my stack of shitcoin I made profit on for USDT, I've realized gain. If I now trade USDT for fiat I've initiated a taxable event but I gained and lost nothing. There's no new tax obligation to report.

5 min later 28024653 Anonymous
>>28024234 No.

7 min later 28024764 Anonymous
>>28024234 >I'm pretty sure the average crypto trader is just reporting their final USD cash out amount. >Reporting crypto >Sane Ok cuck.

8 min later 28024845 Anonymous
>>28024234 Had a summer job at a hotel she visited, served her water. True story.

8 min later 28024881 Anonymous
Doesn't coinbase give your info to the irs?

15 min later 28025414 Anonymous
>>28024881 Most people on /biz/ don't use coinbase.

25 min later 28026118 Anonymous
What do people use if not coinbase?

27 min later 28026290 Anonymous
>>28024234 I live in CZ and I effectively pay zero tax on stocks and crypto, due to the local administration not caring about anything I own.

28 min later 28026328 Anonymous (4D077C8B-F8EC-421B-8099-E2C8C8B43E05.jpg 4128x3096 1896kB)
why the fuck would i "cash" any of my crypto for worthless usd shekels

35 min later 28026856 Anonymous
>>28024503 I report things like when I buy 50k rubic at .10c and sell at .50c since I'm afraid that if I don't report such amounts I will get killed my an IRS agent in my sleep. I also report whenever a trade goes sour and I lose money including the gas fees since this lowers my overall tax liability

41 min later 28027255 Anonymous
>>28025414 I'm a mess I have shit all over the place

45 min later 28027575 Anonymous
>>28026290 Can you describe your cashout strategy in minecraft pls? >t. another czechchad

47 min later 28027667 Anonymous
>>28024845 Did you sniff though?

47 min later 28027671 Anonymous
>>28024234 based pay income rates on what you cash out and just keep DEBTMAXING and you will never get an audit if the IRS jams you up flee the country and let the bank worry about what to do with your bags

53 min later 28028069 Anonymous
>>28025414 >Most people on /biz/ don't use coinbase. Bulllllshit. What does everyone use? Coinmetro, gemini, binance and kraken report to the IRS as well. I have an account with each of them.

53 min later 28028078 Anonymous
>>28027671 >DEBTMAXING this is just unnecessary. IRS wont let you off the hook just because ure in debt

55 min later 28028218 Anonymous
>>28028078 They'll also come after you for backtaxes (almost) anywhere in the world even if you renounce your citizenship.

57 min later 28028333 Anonymous
F

57 min later 28028336 Anonymous
>>28027575 sell everything, transfer to Germany/Lithuania based internet banks, profit. I almost never use my CZ bank.

59 min later 28028499 Anonymous
>>28028069 Exchanges based in other countries and decentralized exchanges

1 hours later 28028517 Anonymous
>>28024845 name?

1 hours later 28028580 Anonymous
>>28028336 but how does it matter whether it's CZ or GER/LIT bank? don't they all work together and report to your country of tax residence? for an example if I cash out 100k in LIT bank, is that really going to be unnoticed by financni urad?

1 hours later 28028674 Anonymous
>>28024234 Oh you thought you could escape taxes? That’s cute. You do all the work, deal with all the stress and take all the risk; government takes a big chunk and gives it directly to niggers and illegals.

1 hours later 28028738 Anonymous
>>28024503 That is right. I am not paying tax on unrealized gains. Right now I would have to pay tens of thousands of dollars on a minimum wage job.

1 hours later 28028866 Anonymous
Americans are fucking gay. I'm moving to Portugal this year and paying NOTHING.

1 hours later 28028906 Anonymous
>>28028580 My broker doesn't report anything, and I cash out little by little. These countries don't know my tax residence is in CZ. And if the tax office don't get you in 3 years, you're clean.

1 hours later 28028923 Anonymous
>reporting your crypto >not just trading it for USDT or another stable coin and buying everything with a crypto debit card Haha I'm just kidding your honor this is a sarcastic post I would never not report my crypto gains to the god blessed federal government.

1 hours later 28029017 Anonymous
>>28024234 Her ass is flatter than Texas Do not post asses like this again

1 hours later 28029047 Anonymous
>>28028866 behave faggot behave.

1 hours later 28029068 Anonymous
>>28028674 don't forget tranny confirmation surgeries. Straight into the surgeons pockets.

1 hours later 28029120 Anonymous
is purchasing boomer rocks "paying for a good or service"? i need to know.

1 hours later 28029262 Anonymous
>>28024881 they should. I had a coinbase account since they launched but they never asked for my legal documents. When i go to the taxes section they have no information and I have no statements. Regardless Im not cashing out with coinbase. Crypto.com will cash me out. I will send multiple 4000 dollar deposits over a longer course of time, only sending eth to my crypto wallet when I want to cash out and hold everything on my local. Crypto.com isnt going to report shit to a foreign government.

1 hours later 28029365 Anonymous
>>28029017 Ass is for subhumans and degenerates.

1 hours later 28029512 Anonymous
>>28028906 SK bro here. I have read multiple times that there is a loophole in CZ regarding taxes and crypto. You can gift your crypto to your family and they can cashout without paying taxes. The profit would be only the value it would gain between the moment the gift is given and selling it. Unfortunately it doesnt work that way here in SK. And btw. you have a 15% tax on crypto, that is quite good. We have to pay 25% + 14 % HEALTH insurance on tax. Yep, fucking zdravotné odvody from crypto. So 39% tax.

1 hours later 28029543 Anonymous (1612354367505.gif 268x262 2262kB)
>>28028674 God.. paying taxes sucks balls. Especially if they give it to illegals, single moms, niggers, bailots, corporate welfare. The rich subumans avoid paying taxes and we have to pay up and fill that void. Whole system is rigged.

1 hours later 28029565 Anonymous
>>28029120 Yes

1 hours later 28029574 Anonymous (AMERIGAFUG.png 1420x686 342kB)
>>28029047 >please stop making us aware of how shit out country is lmao land of the free? land of the eternally btfo more like OH BEAUTIFUL TAXABLE EVENTS FOR CRYPTO TO CRYPTO YOU CAN'T EVEN LEAVE BECAUSE IF YOU DO THEY'LL COME AND ARREST YOU! AMERICA, AMERICA! THE JEW DEMANDS HIS FEE! TO FEED THE NIGGER AND KILL WHITEY FROM SEA TO SHINING SEA!

1 hours later 28029617 Anonymous
>>28028906 what could be considered small cash outs that go under the radar €1000 per month?

1 hours later 28029625 Anonymous
>>28024410 are you kidding? she's built like a dude. weird faggot

1 hours later 28029647 Anonymous
>>28024410 Yes we are.

1 hours later 28029671 Anonymous
>>28028517 Hanna-Maria Seppälä. Seen her multiple times irl.

1 hours later 28029711 Anonymous
>>28024566 This make tax real simple, track how much capital you start with every fiscal year and how much capital you add through the year. Track everything you remove throughout the year. That's it all there is to it. Set up back acc for trading and a tax acc. Then your set.

1 hours later 28029743 Anonymous
>>28028517 https://en.m.wikipedia.org/wiki/Han na-Maria_Sepp%C3%A4l%C3%A4

1 hours later 28029778 Anonymous
>>28024566 He’s referring to something like converting ETH to LINK - a taxable event

1 hours later 28029834 Anonymous
>>28025414 I do, most exchanges aren't available for Americans, and even if they are, they don't support ACH with instant trading. Of course, I'm talking about coinbase pro. If you use coinbase blue, you're just a normie idiot.

1 hours later 28029945 Anonymous
>>28028906 Is it easy to set up a bank acc in LIT? Can you do it online? If you have a telegram or discord would you mind adding me so I could ask you about these minecraft strategies there? Thanks

1 hours later 28029985 Anonymous
>>28026290 Lol the crypto tax is 15% in CZ. I'm just going to pay the cuck tax and have light sleep knowing that no one from bank or financial bureau will knock on my door asking about how I was able to buy a land and house.

1 hours later 28030080 Anonymous
What happens if you move before cashing out then cash out in the foreign country? 'this is just an asset i brought with me, it's not income'

1 hours later 28030238 Anonymous
>>28030080 Tax fraud --> Jail

1 hours later 28030268 Anonymous
>>28029985 This. I find it funny that if you have 15% tax that you are not paying it and try to send the money to your money thinking everything will be okay. As I mentioned in another post - here in Slovakia we have 39% tax on crypto. I am considering moving to CZ for half a year to become a tax resident in your country and cash out while just paying 15%.

1 hours later 28030379 Anonymous
>>28030238 Tax fraud from who? the country you left or the country you entered?

1 hours later 28030733 Anonymous
>>28030268 even paying 1% to these kikes is too much, stop living with this cuck slave mindset

1 hours later 28030940 Anonymous
>>28030733 I agree with you but there are ways to pay 0% tax and sleep well knowing that it is all legal. So I would prefer those. Examples: -becoming a tax resident in Slovenia/Portugal/Germany (well the last one is bit risky) and cash it out there and then move back -using the tax loophole with giving it as a gift to your family in CZ

1 hours later 28031045 Anonymous
>>28030080 Usually there is a certain residence time needed before you become a tax resident. If you live in a slave colony like the USA you get get pretty fucked. Since they tax unrealized gains from conversions, tax you on income that never touched the US, and have long painful processes to renounce citizenship that almost costs a fortune. USA already functions like a prison run by a mafia more than a country. It'd probably be easier to start a corporation in another country then have that entity cash in, that's already what most of the people with their hands in your pockets do.

1 hours later 28031119 Anonymous
>>28029778 If you make capital gains from trans Deering ETH - LINK that is a taxable event. However cashing out isn't. Transferring back to your countries Fiat, doesn't generate anything because it is the measuring stick they use.

1 hours later 28031215 Anonymous
>>28030940 Well we're luckily not from the US and the scary stories about tax agencies hunting you down like a dog are mostly about IRS. Here in SK or CZ if you don't pay taxes the worst you can get is a small fee or an interest, but as long as you pay that you're fine. I agree with you that getting a tax residency in tax haven is a better plan though but it's not always worth it unless your networth is 7 figures or so imo. >-using the tax loophole with giving it as a gift to your family in CZ Isn't this just up to some amount though?

1 hours later 28031332 Anonymous (1384991357951.jpg 1125x1500 1180kB)
>>28024410 Totally.

1 hours later 28031348 Anonymous (tranny.jpg 400x600 30kB)
>>28024234

1 hours later 28031417 Anonymous
>>28031215 ATO, in Australia hunts people down. Due to our tax system, it's even easier than in the US that said our tax system is pretty much automated at every level. Pretty easy to hunt down people on a automatically generated report.

1 hours later 28031453 Anonymous
>>28024234 I'm thinking about just making thousands of 1$ trades back and forth and reporting them all. Automate it all, one trade per hour. Process that you fuvksing shitbags

1 hours later 28031477 Anonymous
>>28024566 hey dummy. >EVERY SINGLE TRADE IS A TAXABLE EVENT. >EVERY SINGLE PURCHASE IS A TAXABLE EVENT you have to calculate the gain/loss on every trade, every purchase. different countries have different rules but for the US, this is the case. there is no grey area here. the IRS is also tracking wallets now and using firms that try to tie wallets to people's identities. you will get assfucked if you do not comply. The path forward is to uncuck the tax laws. Support Wyoming as they're fighting the hardest for this. Also, the Cardano foundation has a lobbying group that is lobbying US lawmakers to create more reasonable (favorable) tax laws, so you can look into that lobbying group and maybe contribute something.

1 hours later 28031594 Anonymous (16333432.png 645x973 51kB)
>>28024410 >Sees one slightly above average girl >"White ppl r perfect"

1 hours later 28031733 Anonymous
>>28031215 >Isn't this just up to some amount though? I think it is up to 5 million CZK but you can use it multiple/infinity number of times. But better check it if you wanna use it, I have just read about it once. But yeah, I agree with you. All depends on the amount of money we are talking about. Few hundreds or just a couple thousands? I wouldnt worry at all about it. Tens of thousands or lower 6 figure? That one is the worst but still there are options. 7 figure - change tax residency to a country with 0% tax and be done with it. This is probably universal for any EU bro.

1 hours later 28031768 Anonymous
>>28031594 Shes a perfect human female fuckwit. Find a single flaw

1 hours later 28031845 Anonymous
>>28031417 Well I dont know much about other legal systems aside from US and Europe, I was mostly commenting on those.

1 hours later 28031888 Anonymous
>>28031417 But US citizens are taxed even if they live abroad (above 100k) and this is not the case in Australia, or is it? I know it is really pricey and hard to manage, but if you would have 7 figures then you could change your tax residency by living somewhere else and cashout, then come back to Australia.

1 hours later 28031906 Anonymous
>>28024410 >that >white She's orange.

1 hours later 28031911 Anonymous
What about gas costs? Do you write those off immediately or roll them into your cost basis? Does it matter whether or not Ethereum is a component of the swap?

1 hours later 28032019 Anonymous (ef6.jpg 680x453 28kB)
>>28031768 >God white people are just perfect

1 hours later 28032140 Anonymous
im not reporting anything. i'll pay the taxes on my gains when i decide to go into fiat and that's that.

1 hours later 28032180 Anonymous
>>28031477 >tying an identity to a wallet without any sort of kyc when monero is a thing and linuz distributions dedicated solely to lurking the internet encrypted and invisible >only pay chump change to hackers to figure out monero and they haven't made any progress for a year Okay dumbass.

1 hours later 28032798 Anonymous
>>28032180 okay leet hacker guy, good for you. meanwhile 99.999% of the rest of burgerland has to pay their taxes.

1 hours later 28032963 Anonymous
>>28028069 If you're using an exchange that reports to US authorities, there is literally no point in what you're doing. Just day trade penny stocks.

1 hours later 28033222 Anonymous
>>28032798 You're on a board that gripes about taxes and old fags telling stories how how they evade them and you're talking to anons here like they're a bunch of normalfag boomers who use internet explorer and google search engine.

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