So your plan is to "make it" in crypto and then just cash out $1,000...

So your plan is to "make it" in crypto and then just cash out $1,000,000 in crypto to your bank account and think the tax people won't fuck you?

lol enjoy jailsex

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Yes that is exactly what I think OP how did you know

>cashing out your crypto

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>he doesn't live an international lifestyle without being a tax resident anywhere

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If you make that much, hire an accountant. I've held for a year. I'll gladly pay taxes, not too mention I'm sure there are other loopholes to deffer them somewhat so my nest egg can do work. I can gift money to family as well tax free, but not sure on the limit.

No, i am going to buy gold directly and bang hot bitches on Hawai without a break.

if I make that much, I would be more than happy to pay the taxes

also if your plan is to retire, then you can just keep holding and buy cash for expenses every month

If any of you fucktards get that far trading shitcoins, it will mean 1 BTC is worth $1,000,000 because most people don't even own 1 BTC

At that point 21 BTC+ owners will be able to live in villas and buy anything they want directly in Bitcoin tax havens with BTC

If you're Canadian there's no limit as far as I know and definitely no gift tax

Can't you just sell your bitcoins for cash on localbitcoins or just buy gold/silver with your btc?

This isn't even illegal.

HM

interesting, is there a crypto app that breaks down boring tax info in a simple to use, beautiful website?

if not would you guys like me to make one?

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no, I will cash out all the way through to my safe deposit box, so I can pay the IRS, even when the confused ass banks freeze my accounts. ur gay OP

This but unironically. If you faggots don't know how to do it then you may as well kys

I will enjoy jailsex with your mother faggot

but i live in Portugal

I actually used to try to help you fucking retards work around this, but when an actual professional tries to give you advice that could save your balls you get told you "don't know what you are talking about". So fuck you user, have fun figuring it out on your own. None of you have half a clue what you are doing and I hope the IRS fucks you raw.

t. CPA

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Crypto is decentralized and math on that shit is hard as balls.
The vast majority of people won't pay and the IRS won't do shit about it.

Simply call the bank before making a huge deposit like that and have all your tax paper work ready.

So what do we do next bullrun if I want to cash out like 20-40k user? Just tell my bank “hey I’m gonna have a huge deposit here what’s the tax protocol for this?”

20-40k isnt enough for that. They will let you deposit it but you will need to pay taxes on the withdrawal to your bank

Monero was created for that, friend. The IRS will not touch a single dollar from me.

Banks don't give a fuck about your tax situation they care about your money situation what kind of question is that even. They don't even report any of that shit unless you violate certain thresholds (like the 10k deposit hold) or are requested to send it over because you are getting investigated/audited.

Have fun figuring out how to avoid that shit though you fuckin queer. Start reading the code, since all you dumbfucks are experts and know everything about taxes and how the IRS operates.

AHAHAHAHAHAHAHAHHAH

>money situation..
How autistic can one be

>Have fun figuring out how to avoid that shit though you fuckin queer. Start reading the code, since all you dumbfucks are experts and know everything about taxes and how the IRS operates.

I'm an illiterate dumbfuck. Spoonfeed the answer dear CPA-sama. My only other option right now is to consult my uncle who's a lawyer about tax havens and if he can open an account for me in some tax haven in the Caribbean.

I'm dead serious about avoiding getting hit with a 48% tax on my profits. I don't care what it takes as long as I can get away with it legally.

I own a bank account in Portugal but I live in Switzerland.
I'm save even if the EU decides to cuck us with regulations.

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>implying I'll ever cash out

>jail for unpaid taxes
>falling for the ebil IRS meme
Know how I know you are under 18 and should be reported?

If you declare the money and file capital gains tax then you’re fine. An analyst will go over your account because it’s such a large sum of cash, but they’ll literally just check crypto candlestick charts and if your investments are legit you’re 100% fine.

If you think you’re going to get out of paying taxes on it by laundering the money I guarantee you’re going to get caught, that shit is easy as fuck to spot

Banks still care about money under 10k if you’re structuring deposits to avoid a CTR

Gifting doesn't do anything, it isn't deductible, you still owe tax on the profits which you are then free to do with as you please including giving them away

My synogoge gave me a tax free voucher, where do I submit?

Beyond buying real estate and maybe a car, why would I need to cash out through my bank account?

What's the best way to cash out?

>cashing out

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15% long term capital gains. Ooh so terrible I’ll only have 850k wah

And where you going to get the cash from faggot. Most countries don’t even allow Crypto let alone CASH your BTC.

T. A true brainlet that doesn’t understand how anything works.

You’re fucking stupid. Seriously.

>giving one hundred and fifty thousand dollars to Uncle Chaim willingly
>being taxed for clicking buttons to trade internet tokens on a chink exchange

Holy fucking Reddit.

>not getting flagged
>not getting raped on interest
>not getting arrested
Holy fucking Reddit spacing

al capone was a mob leader that murdered directly and indirectly hundreds of people, was one of the biggest smugglers of alcohol during prohibition, and the only reason he got fucked was because of tax evasion. have fun getting fucked in the ass by tyrone

>He's a fat mutt living in a 3rd world shithole

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I'll just figure out what put in vs what I took out, see what percent I owe, send it to the state and federal government and be happy with that. If they want more then that, I will hire a lawyer and fight them for every single penny and then sue them for wasting my time.

It doesn't help with your taxes but it doesn't hurt the recipient on theirs either. US is different

Not a real thing

There's been like 6 taxfud threads in the past hour. What's your angle here?

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>)
How do I do this user?