lets say i have a few million in bitcoin. if i set up a bank account under an anonymous LLC would that allow me to convert them into USD and store them safely without the irs coming for me?
Bitcoin and tax havens
Cameron Peterson
Joshua Edwards
Reported
Nathan Clark
its legal to do that though. thats the whole damn point idiot.
Kayden Nelson
>bank account
>anonymous
>LLC
Isaiah Walker
if you are too poor to be asking a lawyer you are too poor to be gaming the system.
Ryder Jenkins
>implying lawyers never post here
Cooper White
yes, as much as it pains me to admit, you have figured it out the jew secret
Jose Moore
OY VEY ITS ANNUDDAH SHOAH! YOU ARENT SUPPOSED TO BE RICH GOYIM!!. but seriously, what happens if i were to do this and transfer the money into an american bank account? would i just be responsible for the duty since caribbean tax havens have no income taxes? i want to understand the laws around this, i obviously will never have the need to do this
Austin Long
you would be transferring money (a very large sum of it) into an american bank account.
they will know.
Blake White
well, duh but would it be legal?
Connor Cruz
There are people who would do a OTC sale if you gave the 10% on the daily price for them to flip.
Everyone make money. They have an incentive to help and too keep quiet.
Ryan Walker
>"hello frens. How do you goy...er...guys cash out your BTC?"
Camden Edwards
Any time money hits an account or you receive a tax document, the IRS knows and receives a copy of that document or transaction info. This is part of KYCAML regulations. If you want to avoid taxes you can't deposit directly into a bank account in your own name
Where can I find these people?
Landon Nguyen
i want to pay them and make the money useable
Elijah Powell
That doesn't involve a "tax haven", you just form an LLC, cash out to the LLC bank account, and claim the crypto cash out as income, simple as that. Yes it is legal
Evan Jenkins
how do i claim it?
David Cooper
you still have to pay taxes on it.
Evan Gomez
The IRS kind of doesn't care where the money came from as long as you're paying taxes. That is their concern as a department. You can simply claim it as income if you want or you can meticulously record every trade and use the correct form for that... personally I'd just claim it as income for services rendered or something
Liam Ortiz
top kek
you are going to have a funny ride here
Asher Ward
so you really think limited liability companies dont pay capital gains tax?
this is an 18+ board kiddo
Carson Bennett
keep the money in usdt, usdc and erc20 stables, whenever you need money just sell in localbitcoins or whatever for cash
you won't be able to buy a house tho
Nathaniel Smith
>you just form an LLC, cash out to the LLC bank account, and claim the crypto cash out as income
>You can simply claim it as income
>personally I'd just claim it as income for services rendered or something
literally money laundering
>Yes it is legal
uh no