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2021-02-08 12:08 28078698 Anonymous just realized taxes are a thing (plsno.jpg 362x362 22kB)
I've 10x'd my 2k in 2 months time and just realized that to cash out I would need to pay 35% taxes. What the fuck this is nothing but theft. Any advices?

0 min later 28078747 Anonymous
>>28078698 Trade in a ROTH IRA or hold your investments for over 1 year.

1 min later 28078800 Anonymous
>>28078747 Can you hodl in something like USDT?

4 min later 28078947 Anonymous
>>28078698 Just don't cash out

8 min later 28079186 Anonymous
>>28078698 why 35%? long term capital gains max currently is like 20, most people pay 15.

9 min later 28079235 Anonymous
>>28078698 Monero.

10 min later 28079316 Anonymous
>>28078800 Yea dai or some other stable coin might be better than usdt cause of all the rumors around it right now from devs dumping

10 min later 28079327 Anonymous
>>28078698 why would you cash out those pennies though? take a grand out to splash out on coke and keep investing the rest

12 min later 28079442 Anonymous
Convert to BTC and buy physical silver? Then resell?

14 min later 28079522 Anonymous
>>28079186 He just said 2 months. He'll need to sit on that for another 10 months for long term capital gains. Also I don't know about everyone else, but I'll be exiting all my positions by EOY because Biden's tax bill will kick into effect next year. If the bull run is still continuing into 2022 (which is doubtful) I'll reenter my positions after selling in order to establish a new cost basis.

15 min later 28079595 Anonymous
>>28079522 More info into this biden bill.

15 min later 28079598 Anonymous
>>28078698 Monero.

19 min later 28079781 Anonymous
>>28079522 yeah my plan is to sell before EOY, this will contribute to the bull ending im sure because many are thinking the same thing

21 min later 28079867 Anonymous
>>28079595 Yeah, tax percentage go up. Simple as. >>28079442 This is foolish. For one, the margins and fees of buying silver with BTC and then selling that physical silver in-person to dealers will probably result in losing not much less than you would've in taxes anyway. But even then, you'd still have a ton of unreported income and would need to pay taxes on all that money you magically just made from silver. You'd still get assfucked by an IRS audit if they see you with all that money coming in and buying assets like houses/cars/whatever while being a broke-ass NEET on paper. So you'd get double-fucked. My plan is to swap to stablecoins on a DEX and then lend those via DeFi. Stay within crypto as much as possible, only cashing out to fiat when absolutely necessary

21 min later 28079879 Anonymous
>>28078698 Yeah pay taxes on already taxed money. Fucking scam system, of course rich people put their money in the caveman's. Disgusting socialism.

22 min later 28079924 Anonymous
>>28078698 Sell btc or thether on a p2p site for cash, can actually make a profit too.

22 min later 28079955 Anonymous
>>28078698 Are you sure it’s that high? Move to Florida or Oregon

23 min later 28080006 Anonymous
>>28079781 Agreed. also wouldn't surprise me if we see a similar thing happen with the stock market. It's fucking stupid to hike up the tax rates like that because it just triggers everyone to panic-sell before EOY, thus causing a negative feedback loop that induces a crash. But yeah, I'm 95% positive that's the reason why crypto bull runs always seem to end in December.

24 min later 28080024 Anonymous
>>28079867 You do realize transactions between crypto is taxed as well right pajeet?

27 min later 28080224 Anonymous
>>28080024 nigger please, why do you think I said "on a DEX"? They're not going to track shit unless it's a KYC'd CEX submitting 1099-Ks to the IRS. Are you planning on reporting your UNI airdrop as income and selling 1/3rd of that too? Don't be a bad goy, now.

30 min later 28080363 Anonymous
>>28078698 >if I cash out The IRS sees it differently, son. You're already on the hook.

35 min later 28080632 Anonymous
>>28080224 >They're not going to track shit unless it's a KYC'd CEX good luck getting real dollars out of anything that is not a CEX

36 min later 28080706 Anonymous
>>28080363 Fantom wallet.

37 min later 28080728 Anonymous
>>28078800 Yes, you can hold in a stable-coin but the second you convert to USD to actually use your money, you will need to pay taxes on it.

38 min later 28080813 Anonymous
>paying taxes NGMI

39 min later 28080831 Anonymous
>>28080224 >>28080632 What this guy said

41 min later 28080947 Anonymous
>>28080632 When you want to cash out to fiat, you swap back via dex to whatever you originally bought and then sell that on the cex. This isn't a difficult concept.

44 min later 28081065 Anonymous
>>28079924 >Sell btc on a p2p site for cash This is the way

45 min later 28081129 Anonymous
>>28079924 >a p2p site for cash like?

46 min later 28081172 Anonymous
>>28080947 >to whatever you originally bought and then sell that on the cex. yes but say you deposited $1000 on the cex and in the end you withdraw $40,000 do you think the IRS is gonna sleep?

57 min later 28081688 Anonymous
>>28081065 >cash lol

59 min later 28081740 Anonymous
>>28078698 >What the fuck this is nothing but theft now you know how the founders felt bro

1 hours later 28082037 Anonymous
Are there any debit card or credit card that can let you take out money and don´t give your info to the Taxes agencies in each country? I can´t imagine the inspectors looking at all the debit cards in the world.

1 hours later 28082136 Anonymous
>>28082037 >I can´t imagine the inspectors looking at all the debit cards in the world. what's a computer?

1 hours later 28082204 Anonymous (1610217760558.jpg 1080x1080 143kB)
>get taxed on the money you make to put into crypto >get taxed when you make gains >get taxed when you spend the gains anyone that thinks tax evasion is immoral is either too poor, too stupid, or works for the IRS

1 hours later 28082253 Anonymous
>>28078698 create a bunch of fake wallets and "lose" 80% of your gains to a "scam."

1 hours later 28082290 Anonymous
>>28078800 depending on your cunt that counts as cashing out and you have to pay taxes anyways

1 hours later 28082302 Anonymous
>>28082253 >wallets he's trying to cash real money

1 hours later 28082312 Anonymous
>swung a few days ago >just went over the income tax bracket FUCK

1 hours later 28082395 Anonymous
>>28078698 Where do you live op?

1 hours later 28082400 Anonymous
>>28079955 checked for based advice

1 hours later 28082480 Anonymous
>>28082253 But that has to be justified with real transactions meaning that you are losing your own money. The only solution is creating a new coin just for yourself and "losing" all your wins on it, then transfer it to FIAT.

1 hours later 28082483 Anonymous
>>28078698 Congrats anon. In the meantime I bought lcx the piece of shit. Bought grt high, sold low. Also tried to swing. Just fucking lol.

1 hours later 28082516 Anonymous
>>28082302 amazon gift cards and live that amazon prime life to the fullest

1 hours later 28082549 Anonymous (cards-img2.png 706x828 176kB)
Swiggity swoggity.

1 hours later 28082553 Anonymous
>>28082516 brb buying a new house on amazon clearly we aren't talking about making 4-500$

1 hours later 28082596 Anonymous
>>28078698 You can use deliveroo/justeat to order food or groceries and pay with eth or other crypto

1 hours later 28082661 Anonymous
>>28082553 shit nigger you can probably buy a house on amazon

1 hours later 28082762 Anonymous
>>28082596 >pay burger with 0.001 ETH > 6 months later it's worth $6000 >take your life

1 hours later 28082787 Anonymous
>>28080224 That's true if you cash out anything insignificant. If it's a lot, then yes, they will want to know.

1 hours later 28082799 .
>>28082549 Whats the name?

1 hours later 28082936 Anonymous
>>28082799 It's the Swipe card.

1 hours later 28083111 Anonymous (1573102187000.jpg 679x912 45kB)
if i buy and sell a bunch of stocks/coins over the period of a week, make money on some and lose money on others, eventually break even and pull out, would i need to pay taxes and be operating at a netloss

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