TAX

MundaneConsequence54

Yes, cause the US has low corporate taxes and relatively low taxes on higher earners. They also choose to privatize more things instead of having them publicly financed. The US is pretty bad example on everything from infrastructure to education to healthcare. I know the idiots in here think taxes are theft and infrastructure and education magically appears out of nowhere. Private industry builds things for the public good and not to extract profit, lol. Okay The USA can also still choose to tax you abroad even if you surrender your naturalization. It isn't as simple as some people say it is for people in the US. Barring Peurto Rico ofc. It is different for people living in other countries. I see someone saying they know three people that moved causes of taxes, but where are we talking about moving from and to? Was that there ONLY reason for moving? I am curious. Moving from the US to Mexico or moving from Finland to Poland may make sense for some people, but in practice its seldom just for lower taxes. It can make sense that some young single individuals would do it possibly JUST FOR A LOWER TAX RATE, but that seldom happens with families. It's just wish casting for 99% of people in here.

zxsmart

> Spend. and Replace. Do not come and speak to me with this ignorant poorly-thought out garbage. Why spend and replace? Why not just SAVE bitcoin and SPEND dollars? This is EASIER, it is TAX-ADVANTAGED, and it is what a rational person would do if they understood what money is for, and which money is the best money. Spend and replace is something economically ignorant fools parrot about when they want to showcase how stupid they are about money and economics.

criptomusico

I forgot my passphrase so I have no access to my bitcoin anymore, it's gone, so TAX THAT!!!

JKilla1288

I voted for this, and I am still happy I did. I'll take some short-term pain to stop every trade partner from stealing from us. After the last 4 years of destroying the economy, the only reason this was held off was because it was manipulated to not happen. So keep thinking Trump is the problem all you want. I know this is reddit, and Trump could literally wipe out the national debt and cause 5 to hit a million and this site would still say he's Hitler. Oh, and this very sub reddit told me every day to vote for the person who wanted to pass a 25% UNREALIZED GAINS TAX. that's right. Something that absolutely zero crypto investors would ever push for. This sub pushed for it.

Yelpers244

There was an All-in episode where they all were talking about being in goverment and how when you sell to be "impatial" it is all TAX FREE BABY! This appointment is a divestment strategy.

thuer

I can one-up that. In Denmark, we pay 50% ---- BUT they're about to add a portfolio-tax, meaning you'll pay TAX each end-of-year on UNREALIZED gains of crypto. So you pay tax each year without selling. Kind of makes HODL difficult.

_SlipperySalmon_

FUCK FIAT! bITcOiN iSnT rEAl Fuck right off!!! Your pieces of paper ran out of the latest HQ laserjet pro are meaningless! EARN FIAT, PAY INCOME TAX, PAY SALES TAX, PAY PROPERTY TAX... THEN WHATEVER MEASLEY AMOUT YOU WALK AWAY WITH THEY MAKE YOU PAY CAPITAL EFFING GAINS TAX. PLUS IF YOU'VE MIRACULOUSLY ENDED UP AHEAD THEY JUST DILUTE IT BY REPLACING THAT LASERJET INK CATRIDGE AND LETTING IT RIP and yet bitcoin isn't real..... Wake up everyone letssss goooooo

Clear-Job1722

I fycjing love trump. I use to make fun of maga but I am a maga supporter now. From reducing illegal immigrants from 10k a day to 46 a day is insane. Saving billions by cutting useless government buildings, programs, etc. Trump has done a crap ton of stuff. I was born leftist, then became neutral and now im rightist. i am a proud republican, conserative and rightist now. Aslong as trump supports crypto and cuts taxes, then im happy. HE EVEN REMOVED OVERTIME TAX TOO. YOU CAN NOW work overtime without getting double taxed on overwork pay. America is healing.

BtcKing1111

Both are theft. But to invest, you first need to earn money and pay INCOME TAX on those funds. So now you get taxed A SECOND TIME when you invest that money JUST SO it doesn't lose value to MONEY PRINTING.

Express_Pace4831

Here's my take. TAX IS THEFT

SaltySnacka

I'm ~~probably~~ absolutely going to get downvoted for this but you're being illogical. Please just listen: 1. Tax money doesn't just get buried in a hole. It's used to fund things which *you* benefit from like institutions, services, and a whole host of important entities (which Musk and his goons are trying to actively dismantle) 2. Inflation is a given in any economy. In fact, inflation is very important specifically in the US economy becasue it encourages growth and drives unemployment rates down. 3. The governments money is also devauled due to inflation. They can't just devalue everyones cash except their own. 4. EVEN IF THE GOVERNMENT WAS USING MONEY PRINTERS IN THE SAME WAY AS A TAX THEY CLEARLY AREN'T MAKING ENOUGH MONEY FROM IT TO DECREASE THE NATIONAL DEBT 5. Money printing is not the main cause of inflation. You clearly don't understand how an economy works. FFS get the fuck out of bitcoin if this is your understanding of the ecnonomy. You are going to do something stupid and lose a lot of money

jbl420

Maybe, idk but wouldn’t they just take already mined coins and implement them into a system that works for them to TAX YOU and the COINS? But hell, I’m just guessing. Who tf knows??

AU-n-Time

There will be much better lending terms using BTC as collateral going forward. Rates will be super competitive and well below what you will earn in BTC growth. That way you can borrow X dollars a year without selling a satoshi, TAX FREE! You can evaluate paying loans back as your stack rises, or continue accumulating debt against it at low interest rates and no income tax against what you borrow. There is some good content out there on this type of structure for assets that are increasing in value that you don’t want to sell but can use tapping into to live your life.

gameison007

Maybe I'm wrong here, BUT MY CONCERN WOULD BE THAT IF TRUMP DOES GET A NATIONAL RESERVE OF BITCOIN THE ONLY WAY HE CAN GET HIS HANDS ON IT IS WHEN PEOPLE SELL IT AND THEY HAVE TO PAY CAPITAL GAINS TAXES ON IT AND THAT HE WOULD PROBABLY INCREASE THE CAPITAL GAINS TAX ON IT. I DON'T TRUST TRUMP 🧐🤔

TravelingEctasy

DO NOT SELL YOUR BITCOIN. DONT LISTEN TO ANY OF THE COMMENTS TELLING YOU TO SELL. CONTACT YOUR TAX ACCOUNTANT If you decide to sell your bitcoin because you will pay taxes on the profit. Also don’t tell anyone in real life you are into crypto people have gotten robbed or killed for their crypto. If I were you hold onto that Bitcoin if it’s 10,000$ worth or more you better damn hold it so it goes to 100k or 500k in a few years.

hazcoin

Not day trading because 1. I would be bad at it and 2. TAX! But when Bitcoin has been low, like when it was less than $25k a couple of years ago, I got loans out using some (not all) of my Bitcoin as collateral, and used that to buy more Bitcoin. Obviously the downsides of this are that you are handing over control of some of your corn as collateral, price could go down, and interest rates for borrow against btc are currently surely high. However I did also want to spend some money and this was the only way I could do it without selling my bitcoin, and I want to do everything possible to avoid selling any of my corn. Has it worked out for me? On the whole yes, when the Covid crash happened I shit my pants but avoided liquidation, I was with Blockfi but got my money out before they went bankrupt. More recently the buys at $20-25k bitcoin that I made with loan money are obviously doing very well. So yes, I am up but it has not been plain sailing all the way.

SpaceFaceMistake

This is no flaw. This is economics macro economics of the world. What does everyone buy crypto with ?? If they start out? It’s cash or Fiat. And even THE whales put their pay checks or earned Fiat into $BTC or crypto whatever it may be. So the issue you think is an issue is not. I mean it is…. But it’s not an issue that can be like fixed via eg stopping Fiat use for crypto acquisitions.. then it’s only crypto or gold or what? Other stocks can be swapped what about digital stable coins that are pure crypto backed by Fiat or gold or digital $BTC? If we went to the “no Fiat” only stocks can be exchanged or used to aquire crypto or other crypto then people flow Fiat into the NATIVE Fiat Markets which can be used to get BTC ETFS OR OTHER indexes with $btc as a major asset in the index or portfolio. So then the Fiat goes to those markets then ACCUMULATE ANY STOCK or commodity BONDS? Maybe idk but then exchange Tesla stocks for $BTC or sell off the $TSLA for $DAi etc not a stable $ dollar Fiat but a stable to $1 crypto. Or if Dai isn’t that then the coin that is.. Then the TAX ENDS when selling OR SWAPPING either for a special crypto for “Exchanging the stocks into crypto that are exchange managed or one across the board” so when sell the $TSLA you get for the $5,000 worth $5,000 in $CRYPTOON (if you choose) can also choose Fiat but Tax continues.. so get the EG $5000 $CRYPTOON which is the only asset or one of them that can be used to AQUIRE any or many specific or even just $BTC chain coins. Which you should know what coins are on it. Know what isn’t like some If its forks aren’t even apart of the BTC ecosystem anymore as new areas they cover have become a new thing and they moved over. But imagine if this was true and we then after getting $5,000 CRYPTOON you pay the last tax on the $TSLA profit or income tax then the $5,000 CRYPTOON is treated like crypto and is crypto on whatever chain that is best maybe all of them. You then use that balance or coin to buy on market or via market limit order or swapping via wallet one coin for another. Then the other cryptos work as they work but some should be purged no JOKE. We need a purge project that checks every coin every day every minuite via AI and finds the shittest coins with scam found problems or phishing or other virus malware on website or app or coin whatever and it’s hit with attacks via white hacking to take it down or make it not possible to trade or move the coin. Not for all users but for makers the owners who may been scammed or lured have their funds removed and replaced for the same $ value and notified that eg $PURGECOIN HAS purged your abc123 balance as it’s been found to be running phishing scams and malware attacks. Please follow our “I’ve had my coins swapped to $CRYPTOON’s and got message about scam coin” article and see what you can do to stay safe. We are sorry this happened but as you know or if you want to re look at the privacy and product policy you agreed to explains this is possible in these volatile ever evolving markets within cryptocurrencys and “meme” or other “new” coins or tokens rather. They aren’t coins all new tokens are that and only become coin if it becomes widely adopted I mean EVEN DOGE COIN IS A TOKEN. It isn’t regarded as a coin as it’s to new and not fundamentally something that stays the same value. That’s why only $USDC (C for coin) is listed as a coin or if it’s another stable “coin”

ProfessionalWall2690

The biggest issue I have is when I Transfer from one coin to another and it triggers a taxable event. You can invest TAX FREE in a Roth IRA

normnormno

Like I said... TAX.

KateR_H0l1day

I have one TAX advantage account that is 100% crypto based, another managed TAX advantage account that has zero crypto. Plus another account that is not a Tax advantaged account, which is 50/50, previously this was two accounts, one managed and one not. I canceled the managed account and rolled it into my account, sold/swapped many into crypto type investments. My crypto buys are doing far better than none crypto.

Fugarwi

If you’re not making as much as “holders” why don’t you just hold.  A few years ago I thought I was doing better trading than holding and was up a little bit more than I would have been just holding.  Then came TAX !  Short term verses long term. Been just holding and DCA since

tianavitoli

**CLIMATE TAX SUMMER YAY! #vibes**

GrouchyAd9824

One real estate transaction a year allows me to file under a Sole Proprietorship. You guys would have to talk with a CPA about it more, I just hand mine a stack of paperwork that says "IMPORTANT TAX DOCUMENTS". I know one real estate transaction is the key because I didn't have one last year due to a seller Breach of Contract and I got rammed and creamed in the ass with a kiss on the lips after for taxes.

SpaceFaceMistake

I’m saying if you Swap $ Fiat for $BTC and use $BTC to pay for “Personal Goods and or services” aka food petrol haircut etc then you aren’t paying the TAX for CG. Maybe I should have said that. Like as opposed to buying and cashing it out at a profit if you just buy it and HOLD and use for personal stuff or even just HoLd then the only tax you pay is the CGT at the very end of ever sold. So you could use BTC and avoid tax from trading.

373331

Lol congrats on making 100% on how much money, $400? TAX FREE?? Wow. I'm 4x leveraged on MSTR in my seven figure Roth IRA. Have fun being poor, loser.

Ctrl_Fr34k

Not your buddy. Don't use literally in a sentence when you're talking in hypotheticals. Like future presidents won't be trying to repeal it IF it The only time it has trickled down is the wealth tax act of 1935 where individuals worth over 5 million were taxed up to 75%. Which eventually turned into the victory tax of 1942 which is a progressive income tax nowhere near the original wealth tax. So technically IT WASNT THE SAME TAX. Even in the '60s they tried to tax the rich at a 91% tax rate which is now been reduced so much it might as well be abysmal. So technically if we're going off a history then by taxing the rich it won't even make it to the poor because they'll lessen it. But out of curiosity what are the financial laws that you are referencing that have trickled down from the rich to the poor?

A_curious_fish

No no an UNREALIZED TAX. Imagine you're taxed on your portfolio at 42% right? Aka basically half its value then all of a sudden there's a down turn say after the deadline that the taxes are due and say you owe 400k in taxes on your account then the account tanks 25% but you owe taxes on what you fucking we're valued at before. Unrealized gains taxes are the dumbest fucking shit in this earth.

R4fael47

When you read the actual report, it is very clear why they are taxing this way: Its because any other method is "administratively difficult" because some people does millions of TX a year, making the work burden on danish tax-agents too big. Danish tax authorities admit they are UNABLE TO TECHNICALLY HANDLE A TAX BASED ON REALIZATION in some cases. This is retarded the world has become.

Novel-Counter-8093

suddenly the libturda forget about TAX ON UNREALIZED GAINS if she gets elected

GinormousHippo458

1BTC = 1BTC = Freedom of Speech Currency Unit = Freedom of Open Source Code YOU CAN'T TAX FREEDOM OF SPEECH. ALL CAPS. These things are provably equal. The money everybody WANTS (and needs for freedom). It's inherently evident "they" have not honorably represented you for centuries. Proof of work. Live free humanity. Live in love. 🙏

Iamgod189

>modest Modest?? Are you fucking kidding? In the US everyone pays 15.3% on almost of their income (up to 168,600 FY 24) Tax rates probably average of 25% State tax of call it 4% Some cities have a tax, say 1% Then we pay auto registration (tax) Property tax Sales tax And more And then when inflation pushes the value of our assets up, we then get to pay MORE TAX on money that had already been taxed, of 15% (or more). It's not modest and we need to stop paying these taxes on the chin, call them out. We are the most taxed people in history and we get fuck all for it. I don't like single payer Healthcare but at least yoy get something. We just ship it all to Ukraine or Israel or another war of the year.

KryptoChic

No you don't. Switzerland has WEALTH TAX ! And Switzerland also has something called self rent tax (Eigenmiet). Own a house and you have to pay tax on the fictitious rental income you gain from the house, even if you live in it and don't rent it out ! Horrible.

g2devi

Everything you say about XMR can be said about cash and gold and silver. The key issue is if the cure is worse than the disease, should you not pick a better cure? The current "cure" about taxation and crime is to punish the innocent by spying on them, forcing people to beg for their money at banks until banks are satisfied, outright closing bank accounts, being "guilty until proven innocent". A society cannot work that way. If tax avoidance is a problem then both make people want to pay taxes by improving services, and for the necessary but no-one wants to pay for taxes, restructure taxes so they can't be avoided and be non-invasive (i.e. the way it was done for thousands of years where the government had little control, i.e. property taxes, head taxes, and user fees). Granted, you wouldn't be able to collect nearly TAX as much as the current system (e.g. taxed before salary is given, then income tax, then taxed on purchases, then taxed if invested, then taxed through inflation, then taxed if....) but we are also forced to pay for a lot of stuff we don't want and often work against us or can be done better through the local community or church. So we do need to find ways to make governments less top-heavy since the current tax ponzi scheme is not sustainable and will eventually collapse.

everyoneisapotato

Probably yes. With their new announcement of no VAT/TAX on transfers combined with 0% Tax on income, UAE is a hot spot.

Wendysmanager24

WHERE ARE THE BEARS WHERE IS SUB 50K I've been taking a big break folks because honestly it was bumming me out looking at the daily with all the europoor butters yapping about how their 50 euro bet is down 99%. I'm happy to report I recently sold my BTC for a 42k profit after holding for 1 year and getting that LONG TERM CAPITAL GAINS TAX RATE. It's unbelievable fellas 15% instead of 35% or whatever it is. Now I've taken that 82k and another 50k bullet and I've gone all in All in on what? YOU GUESSED IT FOLKS IM ALL IN ON AVAX. 132K ALL IN along with my 60k buy last year for a TOTAL OF 192K with an average price of 23. That's right fellas every time this bad boy goes up $2.3 that's another 19k for me I am locked and loaded folks we got JPOW PATRON SAINT OF THE ECONOMY inbound tomorrow. We got the HALVING IN EFFECT. WE GOT THE ETFS IN EFFECT WE GOT THE GREY SCALE AVAX TRUST ROLLING BTC TO 200K AVAX TO 300 BULLS WIN WOOOOOOOOOOOOOOOO

bittabet

Quit making shit up, they charge 67% OF THE REGULAR INCOME TAX RATE for capital gains over 250K in Canada. Not 67% of the actual gains. It's still a lot of money but don't bullshit. The US tax rate wouldn't actually be 28% either. It's 28% for the capital gains tax portion but then you're also subject to [another 3.8% Net Investment Income Tax](https://www.nerdwallet.com/article/taxes/net-investment-income-tax) that's considered a separate tax. Then you'd pay whatever state and local income tax is for your state, which can be up to 12.3% in California and if you're a super lucky/rich NYC person it's up to 14.8%. Since the highest national income tax bracket in Canada is only 33%, 67% of that means that your highest capital gains bracket is actually 22%, plus the local provincial taxes. So this 28% capital gains rate plus 3.8% NIIT in the US is actually FAR higher than your Canadian capital gains taxes.

lordinov

That’s ridiculous. So let’s face this scenario. I’m a long term holder and this year I’ve made 20% unrealised gains, I pay tax, next year my gains disappear, because of a bear market and if I may have to sell, I sell for less gains, break even or even at a loss AND PAY TAX on top of that? Lmao.

Dont_Be_A_Dick_OK

“SHE WANTS TO TAX UNREALIZED GAINS FOR PEOPLE WORTH OVER $100 MILLION! I WILL NEVER FINANCIALLY RECOVER FROM THIS” - mfers in here who are worth like 50 bucks.

iamjacksragingupvote

BECAUSE THEY PAY OUR POLITICIANS TO DESIGN THE TAX CODE AND / OR CHANGE IT omg stop being a bitch for billionaires. you are going to doom us all

fwckr4ddeit

except once introduced that "100 million" will quickly come down. AMT was also first "only for the very reach". Hell the very regular INCOME TAX was introduced as something that would only affecting the top 10%.

Extreme_Nectarine_29

I'm not Portuguese but I love the Portugal aproach on crypto. TLDR: 28% tax on profits. ** NO TAX If you hold more than a year.** That really puts an incentive no hold the right coins and do trading/gambling.

ElDiabloRamon

Both! Buy and HODL Bitcoin on a cold wallet, and create a ROTH IRA & buy ETF shares that way. It’s TAX FREE! (I use Fidelity personally. You can down load the app for free, and create a Roth IRA for free…)

ElDiabloRamon

For me, my focus is not on net worth. My focus is on specific target investment goals I have for myself. Not only am I buying Bitcoin on the self custody side, I am also buying the Bitcoin and Ethereum ETF shares as well through 2 seperate Roth IRAs. That way, I can spend what ever I want from the Roths - TAX FREE - and never have to spend my self custody held Bitcoin and other alt coins… I think of it as “concentric rings of wealth shielding”

Joe_Smith_Reddit

At least he is pro Bitcoin and does not hate it like Harris who called him “money for criminals” and do not forget that the Biden HARRIS administration wanted to tax unrealized capital gains, which would be the end of Bitcoin[TAX ON UNREALIZED CAPITAL GAINS](https://bitcoinmagazine.com/business/unrealized-capital-gains-tax-stock-bitcoin)

crimeo

The government cannot spend money it does not have. If it just spent exactly what came in in tax revenue, then that obviously wouldn't change the value of a dollar at all. It only changes the value of the dollar when they spend more than they brought in, which they can only do when they PRINT money out of nowhere. If you print X% more money than existed, then the value of all dollar bills goes down by some Y% (depends on elasticity). * The government gets all that X amount and can now spend it on stuff * The People lose the Y amount. The word for a government action that transfers value from the People to the government is "A **TAX**"

ResponsibilitySea327

First off, don't listen to Saylor unless you are god-awful rich. He isn't spending his money, he is spending *other people's money* and cashing out the stock appreciation on it. Be happy he is pumping BTC, but don't take the guys advice. If it were me, I'd diversify. BTC is all about timing and if you don't have a house, that would be something I'd look at using some of those funds. VTI 50%, BTC 40%, Emergency Cash 10% -- START PUTTING FUNDS IN A TAX ADVANTAGED ACCOUNT! ROTH IRA, NISA, ISA, etc -- whatever the account preference in your country.

phaattiee

You're right but there are just as many "chimpanzee's” and dumb money in the BTC space which is why they don't get this. BTC and crypto by extension are probably at the polar opposites of that bell curve. Those of us at the good end understand. Without those "chimpanzee's" fixing the roads and the buildings that house more "chimpanzee's" doing all the Admin and HR for the ones building the infrastructure that allow us all to benefit from technologies that rely on these things the whole house of cards comes falling down. Those of us with wider perspective understand this in the big picture and operate with grace in the face of gratitude to those that are necessary for everything to operate as it does and so would never refer to Jenny in the office who can just about use excel to organise our payslips as a chimpanzee. Jenny in the office is a metaphor for all those they refer to as "chimpanzee's" as vital cogs in the machine that without they wouldn't succeed. Most people on this planet are lead by a combination of ignorance, ego and dumb luck. They don't understand sitting at home trading crypto that they're actually the problem not the solution. A good example of this is people asking how best to not pay capital gains. Not realising they're as bad as the bankers and corporations that Satoshi created BTC to escape from. TAX is a metaphor for all the things in life and society that we NEED but are too lazy or busy or untalented enough in those areas to do ourselves. If you're off the grid and completely self sustainable and homeschool your children, dispose of your own waste and filter your own water... sure enough you have a leg to stand on for not paying tax... At that point do you even need BTC? For the internet to exist there is a huge infrastructure supporting it none of which would exist without people working jobs funded by taxpayer money. You only have your precious internet beans because of tax payer money. Has it been mismanaged, YES. Do the wealthy elite not pay their fair share, YES. But by avoiding it you're just as bad as them. The moral high ground is to pay the tax and keep stacking. I digress. A lot of people don't understand the wider picture and are quick to shit on Jenny in accounting that barely knows how to use excel. But Jenny is the reason you have BTC... Anyone that thinks Jenny is just a "Chimpanzee" is as much a simpleton as they think Jenny is.

ericdh8

I saw a blurb from Warren Buffet recently (it could be old re-hash) where BH is paying close to $5B in taxes to the US Treasury. He claims that if 600 other similar companies paid their fair share, instead of seeking every tax break available and cheating to get more than fair, that no US citizen would pay any tax… income, property, use NO TAX. Would that be as great as it sounds or no?

slvbtc

ALL CAPITAL GAINS TAX IS THEFT!!!! Everyone in this sub knows its not the price of the asset going up, its the purchasing power of the dollar going down!.. All assets rise in price over time because the currency is being debased and assets are denominated in the debasing currency. The government prints money diluting your purchasing power and that causes the price of your asset to rise, they then tell you you owe tax on the price rise when the price rise was caused by government money printing and was doing nothing but slightly offsetting the dilution of the currency. So the government causes your asset to rise in price by destroying the currency, then they claim you owe tax on that price rise. Capital gains tax is just as immoral and disgusting as the inflation tax as they are essentially one and the same. They both cause you to give your money to the government based on how much the government mismanages the currency. The more mismanaged the currency is the more inflation there is, and the more inflation there is the more capital gains tax you pay. It is literally sickening. It is straight up theft. Its absolutely criminal. All capital gains tax is absolutely immoral.

NYNickET

# What am i doing wrong please?? Kindly advise? [https://drive.google.com/file/d/1jYTR9MR1Y95TAX18vSZ8g-fsSu54hyOn/view?usp=drive\_link](https://drive.google.com/file/d/1jYTR9MR1Y95TAX18vSZ8g-fsSu54hyOn/view?usp=drive_link)

vwkv1

Those people are a lost cause. They will come after us though when we see a million per coin. "TAX the Bitcoiners!!! They are ruining teh environment!". This happened to land and factory owners back in the day. Communists will come out the woodwork. I'm learning Spanish as a hedge in case I have to jump ship to Mexico or El Salvador.

Glum_Blacksmith_6389

Broski, unsolicited advice: 1) if your country is ok with crypto and taxes it, you’re fine. DO PAY THE TAX. Show bank tax proof. 2) if you feel like you can’t do that. Open a bank account in Dubai. They allow crypto transactions. (A mate of mine did it. Country he lives in is grey on crypto. CEX he was on wouldnt let him withdraw to his home country.) 3) google wont give you unsolicited advice, keep asking.

MrRGnome

YOU CAN PUT YOUR WALLET IN A TAX FREE ROTH IRA!! All you need to do is file some paperwork declaring yourself a qualified corporate custodian.

nyaaaa

True. Wait, how are we typing and communicating here. GOD DAMN TAX DOLLARS

pigeonwiggle

it's not about being early. so many people don't know how their fucking TAX BRACKETS work - "we're early on taxes!" UK statistics recently revealed that less than 3% of people manage their own investments because they don't know how it works, etc. -- "we're early on the stock market!" people self-custodying their own money is a disaster waiting to happen. MOST people cannot be trusted to do this. they can barely keep their houses clean. there's a reason banks were invented in the first place. for everyone else, sure! self custody your own bitcoin and manage your own finances! great! -- but there are stories posted here every other week of people who lost their keys and are fucked.

Tothinkoutofthenut

Then the TAX MAN gonna pay you and your buddy a visit. Good luck with that.

phaattiee

Selling products has nothing to do with wealth tax on unrealised gains... The trade off is that you can carry unrealised losses forward thus reducing the risk aspect... I wasn't suggesting people be forced to sell by law... more that they'd have to to pay the tax because it would be difficult for them to pay off unrealised gains in cash and therefore would pseudo be forced to sell off assets... Of course you're not against taxes as a business owner, you don't have to pay any, I know full well as I have self employed income on the side and its beyond ridiculous how easy it is to store wealth in assets to carry over profits... Inflation needs to be curbed and a big driver of that is trapped wealth in assets that isn't circulating in the economy... I don't have any other ideas but the system is certainly rigged to give those who have everything even more... which If you've ever read the "good book", we've known for thousands of years that those of us with the most need to sacrifice the most for those that have the least in order for there to be balance and order... Obviously there's a lot more nuance to "TAX THE 1%" I'm not a legislator or an economics expert... but it doesn't take an expert to see the divide in wealth now compared to 40-50 years ago... It doesn't take an expert to read studies on how larger companies like amazon systemically close down competitors by selling products at a loss then buy up their business and supply to then sell... Monopolies haven't been controlled, loopholes haven't been addressed and the problem is its too late for any relevant changes to make an impact on the super wealthy elite... Therefore the disparity needs to be evened out first with drastic legislation... It might not be fair on the 1% but that doesn't mean it doesn't need to happen...

Zealousideal-Fan-698

Ok guys listen, I’ve thought about this for a whole 5min and I’m pretty excited about it. We as a subreddit write a btc bible, each person writes a paragraph then passes it on. Satoshi is actually a god alien from another solar system. We declare bitcoin a religion with tax exempt status and freedom of religion protections. EVERYONE AND THEIR MOTHER WILL SAVE AND USE BTC, BECAUSE IT WILL BE THE ONLY TAX EXEMPT FINANCIAL VEHICLE EVER Seriously think about this. Do we have a lawyer on this sub?

StianHvalborg

I told my family to buy bitcoin at 9 USD. They all laughed at me. My family doesn’t laugh anymore now. As the matter of fact I erased my entire family from my life after that, and haven’t looked back ever since. Best choice in my life. ❤️👍 That being said, your family will not laugh anymore when bitcoin is at 1 million usd in a few short years. Your family will then turn jealous and toxic instead. So, my advice is: IGNORE family BUY MORE BITCOIN HODL like a MAD MAD NEVER SELL your bitcoin. If you need money, get a loan with bitcoin as collateral. The monetary system is debt based; loans are TAX FREE.

Professional-Sun2825

Yeah, dont forget to pay TAX !!! IT May be in estate proceedings!!! Why you dispone with his BTC??? Rather contact me in Dm.

OffThread

Really? TAX FREE GAINS ROTH IT, NO TAXES PAID. Duh.

VirtualSlip2368

OP, if everything is hunky-dory, buy, but be careful that ALL your TAX affairs are in order... they are busting people left and right: [https://www.justice.gov/opa/pr/texas-man-charged-filing-tax-returns-falsely-reported-his-cryptocurrency-gains](https://www.justice.gov/opa/pr/texas-man-charged-filing-tax-returns-falsely-reported-his-cryptocurrency-gains)

sixfootnine

USA TAX DEADLINE 4/15 some people need liquidity

ElonaMusk212

What are you talking about? Ive rented for years...NO TAX....no upkeep ....no heat...just electricity. Renters never pay for plumbing etc....hence the point they are renting. Renters dont pay tax....

Ofthepeoplebypeople

I agree we need to cur DOD budget by half and TAX THE RICH. Everyone ready to start!

BraidRuner

You have the right idea and the correct execution and fixing your purchase price PRE HALVING is a wise move. TAX TIME? INVEST IN BITCOIN

phaattiee

I don't even know what you're trying to say but I'll try!? No because as of right now its not legal tender, yes its a peer to peer transaction so technically you can purchase something with it if the recipient is willing to receive BTC in exchange... You would have to research bartering laws in that case. At least in the UK jut about everything is considered an asset that isn't pound sterling... And if you're selling something for more than its worth then you have to pay your dues... "give unto Caesar..." as it goes. If you're selling BTC back into FIAT you're technically going against what BTC was created for... The tax part has nothing to do with it. If you were using BTC the way it was designed to be used you wouldn't ever trade it back into FIAT so you wouldn't have to pay TAX. Now the problem comes (at least in the UK) when you convert BTC into another asset class... Capital gains applies whenever you convert any kind of asset into another, its classed as a "disposal of the asset". So for example if you bought a house for 300k worth of BTC which you bought for 50K you would have to pay the CGT on the 250k IN CASH FIAT. Governments have made it difficult for BTC to function in that way. IDK that's the best I can do.

Normal-Jelly607

Bitcoin ETF in a Roth IRA is 100% TAX-FREE

DuyTran0634

If you buy crypto with your post-tax income, you will pay tax AGAIN later if you make money from the crypto investment. 401k (pre-taxed contribution) helps you reduce your pre-taxed income, which puts you into the lower tax bracket for lower taxes paid at the end of the year. If you want to use your POST-TAXED income to invest, I suggest putting your income (already paid tax) into a Roth IRA from Fidelity and using that money to buy Spot BTC ETF (iBIT, HODL, etc..). The advantage of this Roth IRA is that if you invest $7,000/year until you are 62, you can withdraw the investment from the IRA TAX-FREE.

No-Pepper6969

Once you sell and lose the potentiel gain(see the "I bought Halo for 80 000$ posts"), you learn and HODL for life. My exit strategy is ETF in a TAX FREE account. Live off my 25k credit card, pay them, last day with TAX FREE ETF and once a year, cash out COINS to refill TAX FREE accounts, If I can withdraw more, I'll put that cash in margin account and also use it next year to pay taxes after an average 36% gain. Basically free money.

Illustrious_Plate610

Nice try TAX MAN

PrimeGGWP

Yup. In Austria "Denmark" is considered as best "fair" country for citizen. But as you said, prices are ridicoulus and I always wonder why people LOVE the fact paying even more tax with already taxed money - when you buy a house for example. But that's how it works: Always be for things in your best (self) interest. So if somebody buys a house and lives in it, but you don't - "TAX IT NOW! Unfair!" and they know very well they wouldn't see a cent of that taxed money. Completely irrational

shlappadebass

Okay boomer... 😒 The traditional ways of saving money don't work as well as people tend to nowadays due just the sheer insanity of inflation. Where you government can decide to print more money arbitrarily, and even worse, charge you more money for using money (ie: taxes). Every dollar you earn is less than what it was previously, and it's only getting worse. Yes, you should pay off debts as fast as you can to free up more of your income to invest down the line. I agree with being debt free in that regard... But in reality, it's far better to learn how to USE debt to acquire assets and then use assets to acquire wealth and new lines of credit. That's what the wealthy do because debt is TAX FREE. Buying crypto is becoming less and less novel as more people are learning about it, studying it and getting involved. Which is AWESOME. There's nothing wrong with stacking some solid coins while you pay off debt. If you can't manage your money well, it doesn't matter if you got $50 in the bank or $500 million. Just sayin.

Rebellion_Protocol

Missed Myro? Heck yeah, brah. But hey, meet Myre n' bask in the 0 TAX, SOL glory. You might regret less with Myre jugglin' the numbers in your crypto bag. Btw, stumbled upon this some time ago- daily dose of ledger love. Might find it worth your time: https://www.reddit.com/r/DailyLedger/

cryptaryt

You forgot India? 30% Flat Tax & 4% Cess & 1% TDS per transaction. Although TDS is refundable but you pay 34% TAX. And you pay for all profits irrespective of Losses.

Flowzy_x

Congrats! First: Where do you live? here is the most important thing to look out for: TAX! If you live in a country where this has to be taxed, you have to do it first, before investing the money again. otherwise you will be sued for moneylaundering and in the worse case face prison. Second: my opinion and recommendation: Go to a professional after that, that helps you building up a diversified risk-off portfolio, like 50% ETFs 30% Stocks 20% Crypto. A Risk-On Portfolio, diversified is way more profitable, but can burn your money fast. Anyway if you choose to be more "risky" something like 40% Stock, 40% Crypto, 20% ETFs can work out great as well. BUT consult a professional, and make sure to check if the money has to be taxed first.

alien3d

Malaysia . On the other hand, gains derived by individual who trade occasionally may be viewed as capital gains and not taxable in Malaysia https://phl.hasil.gov.my/pdf/pdfam/GUIDELINES\_ON\_TAX\_TREATMENT\_OF\_DIGITAL\_CURRENCY\_TRANSACTIONS.pdf \*\* here we can easily transfer bank/ewallet to approved dax without any fuss since it is legal .

DaetheFancy

a few things. One, as mentioned an arbitrage bot. I looked at one, but it seemed scammy so i didnt bother. 1) set margins for buy/sales. so yes, as things go up, youll do OK. 2-5% profit depending on the coin. 400 to 410 looks like 2.5% was their margin. 2) if it goes DOWN the bot simply hold until a threshold or you direct it to sell the asset. Also a likely scenario in bear/down markets. 3) these playforms also charge a fee, and usually do not guarantee any returns. Yes, they CAN be effective, but usually only if you have enough $$ to start where the money on 2% is worth any gas fees/transaction fees charged. 4) you can achieve essentially the same, though slower by utilizing a service like CB, use a pro memberbership if you have the capital, place a 1000 buy for 0 fees, set a limit order on return for $50 or so, pay for the membership, then wash rinse repeat. 5) The other issue here, TAX REPORTING. Remember \*every\* transaction triggers a taxable event unless its a $0 gain/loss (US)

fairysquirt

... it's just called accounting a CAPITAL GAINS TAX EVENT, does not mean you're taxed on every trade, it means you need to keep a record of every trade because CGT is triggered at point of disposal. you could figure out CGT by your first and last trade and the value change is clearly gain in your capitals value. the thing is we don't do one tidy first and last trade we split it off, some things we hold something we day trade. so they are just saying you need to do CGT properly like LIFO or FIFO or what ever. yes every trade is a taxable EVENT, but it doesn't mean you're taxed on every trade like some sales tax bs... lets say you do a trade and your capital value has increased 200 usd, like you bought 2000 usd of bitcoin and then next time there's an event you are buying 2200 usd of eth with it? where did the 200 come from? it's a capital gain right? and you're saying you pay tax on that trade? right? WRONG. why? well because your NEXT trade after that a month later you are selling your 2200 usd eth for 2000 usd sol, where'd the 200 usd go? well if you can only buy 2000 usd of sol now its because your eth is worth 2000 usd at the time right. well whats +200 -200? it's 0, so you aren't fuking paying capital gain on either trade they cancel out and you have NO CAPITAL GAIN, all you HAVE is two records ie cgt EVENTS showing that. so stop dramatizing basic accounting, you NEED every trade record, deposit and withdrawal to ACCOUNT for, why your capital total value at start of financial year was 100 USD and EOFY is 20000 USD, you're being being taxed on the capital GAIN in the END, not the middle, you just need to account for your business dealings. minus expenses/costs. the thing is, if you want to buy and hold crypto, CGT 'end result' is only determined at point of disposal, and if you hold for one year TAX on capital gain is halved in many countries. you could buy bitcoin and eofy it has gone up 19000 usd, and you never pay tax on it until you dispose of it, triggering a CGT event. but not every trade is taxed, it is just an EVENT the last disposal event determines the most recent point of reference for its value where tax is concerned, like... you may have done your last trade in august, and now its worth 10x more in december, but you aren't paying 10x more capital gains tax, because the value is determined by the latest disposal. they aren't taxing your every profitable trade, it's just basic accounting of a capital gain. initial value determined by expense/buy in and sum total value of every asset you hold, with a value determined by the last event as that is the running total value. maybe all your asset were worth 20x more in the middle, why would you be taxed on that total value, when before eofy you're back down??? clearly capital loss cancels capital gain.

LightSparrow

A vast majority of BTC folks are simply interested in making USD. Not the tech of BTC or the adoption of BTC. These ETFs are a fantastic way to get exposure to BTC and capitalize on price movements, with PRE TAX dollars mind you, straight into a 401k. And no responsibility of self custody. That’s going to appeal to 90% of folks into BTC. The 10% who are in it for the tech and the promise of a BTC future, it’s not for them. Simple as that

Ok-Ant-2143

Haha...I figured this out when btc Was $16k...sold and took the smaller hit on taxes, bought into BTCC.B immediately. (Lost a small amount due to fee's and slippage but who cares.) It was like a lightbulb going on in my head...TAX FREE CAPITAL GAINS. I know this sub will shit on it...but the lure of tax free is too good to ignore. (Sorry American's...you have to wait for you ETF's before you can do the same.)

Big_Smoke1013

Been in equities for years. Assets get froze all the time, am I right?! 😅🤣🤣🤣 Do you have any idea how useless the Canadian government is? Lol least of my concern. TAX FREE IS THE POINT YOU DUMB DUMBS LOL

Outrageous_Coconut55

Seriously, what ever you do DO NOT FILE A TAX RETURN. I mean you can do the paper work just don’t send it to the IRS, that’s an admission of guilt and there is no law stating you have to file a tax return with the federal government. Key wording here “filing a tax return” is admission of owing the government, otherwise they would just send us all a bill every year.

EquivalentInside5751

You would be better off investing it into Gold or Bulk Silver. They will always be there...Bitcoin or Digital Currency is not a tangible asset. It is only as good as there is still electricity and Internet. One Solar flare strong enough can wipe out your investment. I listened to the owners of an International Company as to what they invest in. They said number one is Precious Metals 2nd is Art 3rd is real estate. The problem with real estate is continual taxation. ( The problem I am currently facing with my home...I had it built 20 years ago and placed 100k down on it. This year the property tax quadrupled. And yes it is true, everyone in the neighborhood is also being hammered!) I invested in Gold and Silver back when it was very affordable. Oh BTW you can forget about ever getting your Social Security when you retire. The Government has been siphoning it off and it is on the verge of insolvency. Also, you may wish to take another look at the Dodd-Frank Act (second page fine print) This was passed into Legislation by then VP Biden under Obama. This allows the Government to seize any and all your assets, your savings, checking, IRA, 401k and safety deposit box whenever the Government wishes under any claim. Now that Biden became President he has been field testing this seizing assets of Banks. I was warned of it by a friend who worked at my bank. I had never heard of it....he said take everything out ASAP and he would explain later. I did that very day. A few days later the IRS came in a seized ALL THE ASSETS at that branch. No, the bank did nothing illegal. It was a Capitol One Bank in Fort Worth.....also it was not even mentioned in the news either. The sign at the bank told the depositor to call the phone number listed, bring an attorney and proof that all your income was earned legally. Huh? To this day, no one has been able to get in to an appointment....so they started a lawsuit against the Government. GOOD LUCK This has been going on in isolated areas all over the USA and THE MAINSTREAM NEWS IS NOT REPORTING IT. What do you think the hiring of 87,000 ARMED IRS AGENTS ARE FOR??? A simple audit???? No, the Government is about to start seizing assets. Also a friend of mine who is a famous actor informed me it happened at his bank in Beverly Hills.....they have a lawsuit going also. Now I got a call just a few months ago by the Bank that my house mortgage is at....they contacted me asking if it was possible for me to pay off my mortgage. Now I am puzzled and asked why. They then said they are not at liberty to discuss the reasons why...so I poked and asked if it had to do with the Dodd-Frank Act and they replied yes. Don't even think this is some conspiracy BS. All of you people are going to give smart remarks claiming this is rubbish. Well go ahead and do a deep dive and look for yourself. You cant use Google search. You have to use a search engine not controlled to block your searches or divert you to nonsense pages. Also under Obama was the Medicaid/Medicare Recovery Act passed too....this is anyone who has ever been on short term disability and received aid. The IRS will notify you that they made a mistake in how much they gave you in support and hit you with a huge TAX bill. THIS IT TRUE because this was aired on 60 Minutes last month. Also, did any of you notice Nikki Hailey telling the public that Social Security is broke? She said that Biden has signed into a secret legislation to raise the age of retirement to age 70 but no one under 65 currently will ever see their retirement even though it will be auto withdrawn from your paycheck for the rest of your life...but will NEVER SEE IT when you reach retirement. I am over 68 and have already been declined to receive my retirement....not some medical disability issue either. I have paid in for 55 years and now I am denied it and was told to apply at age 70. You see, the Government is not telling the public what is really going on....they are stalling, diverting your attention to tons of BS I warned people WHY the border is open and all these illegals are getting YOUR SOCIAL SECURITY. I also warned you people that Biden has publicly announced that the Ukrainian people will be getting their pension from the USA. That was on the news! That is our Social Security money......so why would this Administration be Intentionally be driving this welfare system into a faster insolvency? Think about it for awhile......remember the Dodd-Frank Act that will justify seizing everyone's assets? You can go ahead and mock me, so many have already after I warned people of some rapid changes coming.....those issues came true. Sure do not see anyone apologizing for poo pooing me when the warnings came true!

HumidMind

Tax deferred IRA, that is the game. My MSTR is UP 178% since May of 22, including the shit day yesterday. That is TAX FREE pump.

OnlyPoorsPayTaxes

THIS IS WHAT IVE HEARD PEOPLE DO, I’VE NEVER DONE IT MYSELF. The IRS is understaffed and clueless when it comes to crypto especially when it’s off exchanges. Funnel as much as you can through legit websites to buy master card gift cards, you’ll pay about 6% fee, you can also buy precious metals and resell them for cash at local coin stores but make sure the store is giving you a fair rate. Unfortunately the bulk you’ll have to funnel back through the exchange you originally bought from and bay 20% long term capital gains. But if you’ve made considerable money, only do enough through exchanges to buy a house or car. I AM NOT ADVOCATING YOU DO THIS. I WOULD NEVER DO THIS. THAT WOULD BE TAX EVASION AND IS ILLEGAL.

splitsecondclassic

US citizen here with multiple passports and a home in another country here. THIS IS NOT TAX ADVICE. if you're a us citizen you will have to file your taxes annually just like you do now AT A MINIMUM. If you live in another country you'll be allowed a foreign income exemption of approx $120k/annually and then you will have to pay taxes potentially on anything above that unless you have expenses, depreciation, losses etc. Some may say, fuck the govt, it I'm in BTC and no longer live in the US then they have to catch me. they will though. tax dodgers get their accounts seized and their passports revoked. Most US folks don't have a second passport. No passport = no travel (or at least makes it really unpleasant). There is hope though. You can use one of these expensive consultants to get a second passport and residencies like I did or you can also utilize another tool that I did in the US by setting up irrevocable trusts for my personal, business and charity. the flow looks like this..... Profits from business into business trust Business trust pays me a nominal salary to keep my taxes low If I need money for food, fun or fashion I ask my business trust to give my personal trust money to loan to me for 10 years. If I don't repay by year 9 I ask for an extension. Who's gonna tell me NO? It's me asking me for money! Here's the great part. No taxes on loans. I live off loans from myself and pay 1-3% federal tax in the US legally. Google build, borrow, die and IRS 643b. You'll see it's all legal and IRS compliant. Same thing billionaires, athletes, movie stars and politicians do to pay no tax. Ever wonder why Bill Gates or Jeff Bezos never renounce and leave? (and they have a lot more money than all of us chumps here). This is how they do it. Everyone is trying to cut corners and there is a legal way to do it right and never have to look over your shoulder. I smile all day long every day. You need a KILLER legal team to do this right so don't try to cheap out and fuck yourself out of your own fortune. I'm happy to make introductions to my team but they are super busy so you may have to sit in their queue for a hot second. Don't trust this kind of stuff to some average, garden variety lawyer.

marckolind

0% TAX it is then. Nice! 🙄

marckolind

Only thing is... It's a TAX nightmare to deal with, which is why most people restrain from using it.

middlemangv

This is the only time I see TAX in the title and it turned out to be really good for the tax payer.

analogOnly

There is no income tax on selling bitcoin you've bought, period. Exception - You mine bitcoin, it is a source of income, you pay income tax on it Exception - You are paid wage directly from your employer in bitcoin, you pay income tax on it. ALL OTHER FORMS OF SELLING BITCOIN ARE NOT INCOME, and you pay CAPITAL GAINS TAX. That is it.

Gungho_Gringo

5 YEARS OF TAX RETURNS? I feel like I've barely even been working five years. Of course, they would try to scam some poor lady. Glad to see negative press made them reconsider!

SlayerSiraaj

Are there any ways to avoid the big TAX HIT when cashing out crypto? 🙃

LukeDarbs

Is it true that you claim you're deposit fees on TAX? Australian here

axolotl_life

Here's a real time rebalancing tool: Providing liquidity in defi pools. You will also get the pool rewards on top of free rebalancing. If you trust the platform, the two tokens (that neither of them will go to zero) and in taking timely profits, try this: * Provide liquidity in a pool - like sushi Eth-moon (If this is too complex for you to follow, use a stablecoin pair to understand this more easily like Eth-USDC). Let's take the example of Eth-moon where you provided 500 moons and its equivalent 0.5 Eth in the pool (Gosh! this is just an example, but we all want it, I know). * See moon count go up and down based on its price relative to Eth. You can check the relative prices by going to Coingecko and selecting 'Show me the price of moon in Eth instead of USD' * When you think the bottom is in, take out the liquidity and hold it. In the example, now you notice that the moon you provided is 550 instead of 500 because Eth price went up. Pull out the SLP and hold it in moon. * Now, when you get the notification from Coingecko that the price is back to the initial price (500 moon :0.5 Eth), put 500 moons and the equivalent amount of Eth again. * You have now successfully made extra 50 moons from nothing but volatility and also gained sushi pool rewards in the process. Things to watch out for: Market may go down even further after you pulled out thinking it is the bottom, no issues just hodl. Wait for your strike price and then put in the pool again. ;) And yes of course, TAX implications.

jwz9904

SEC is cost TAX payers millions of dollars SEC employees are paid the most of any US agencies

Alone-Hospital-6028

TOO MUCH DAMN TAX!! Income Tax, fine. Sales Tax, fine. Some special ass name the government tacks onto TAX?!?! Fuck no! I ain't playing their games anymore.

Due-Syllabub-5803

LANCO 🚀CONTRACT AUDITED 🐳HUGE MARKETING PLANNED ⚡️FIRST PROJECT OF ITS KIND 💰0% TAX on Buy & Sell. 💰$50K Contest running! Contract Address: 🗣️0X76A54979363E2A4B9910E9B1593620242838B280 ⚪️Presale ends: 10days ✔️Hard Cap: $500K 🌐Website: lanco.io

AdZealousideal3461

Ohh Yea, this is when Contract is set with 99% BUY TAX or to the wallet as a different one than the sender! I have seen them too!

NonFungibleFace

Government takes my cardboard as TAX. I wil be broke…. or having 100 lambos.