and my bank froze my account... THERE LITERALLY IS NO WAY TO CASH OUT. AAAHHHHHHHHHHHHHHHHHHHHHHHHHHHHH
I tried cashing out
Matthew Morales
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Joshua Lewis
Tell us how you failed this simple task please dingus.
Xavier Green
They said it was because coinbase.com is a suspicious transaction
Samuel Green
get a new bank
Austin Thompson
The absolute state of those kikes.
Hudson Davis
>traditional banking system
Luke Bell
Convert to USD on coinbase, open a new bank account, deposit funds
are you retarded?
Brody Ortiz
Did you cultivate an amicable relationship with your branch manager in the years before cashing out? Did you get an accountant? Did you pay your taxes? Did you ask for a meeting with your bank manager to go through all the AML paperwork before sending the money from your fiat/crypto gateway account to your bank account, to prove the source of funds was not criminality? The answer to all those should be yes. Cashoutisameme is a meme
Jonathan James
or just don't use a bank at all, and live off crypto
Jonathan Davis
I've cashed out $60k to bank for tax purposes no problems. Get a better bank, I guess?
Jaxon Murphy
how much was it?
Anthony Reyes
Every fucking day with you posting this bullshit. Get fucked faggot
David Ward
>Did you pay your taxes?
How would one pay taxes without cashing out first?
Luke Evans
>cashing out
5 years from now you'll be able to use crypto anywhere from buying a house to shopping at walmart
Brayden Morris
Bong here. You're right it is a catch 22- to an extent. When I cashed out in tax year 2016-2017, I submitted a (can't remember exact name) form of capital gains declaration to HMRC, who promptly sent a letter back saying "pay us what you just told us you owe us". That letter was part of the AML paper trail with the bank, the rest was correspondence with my accountant, and proving the funds that had originally been invested into crypto were 1.) owned by me and 2.) had tax paid on them prior to going fiat-crypto
Joseph Parker
A jew will never stop jewing until it is gassed.
Sebastian Kelly
Maybe meet with bank manager first with all the tax information and transaction history ready, then transfer funds to bank to pay taxes?
Carson Foster
This also makes me wonder, how did those bitcoin and ethereum millionaires cash out then?
Lucas King
Not this crap again. Reminds me of fall 17 lol
Charles Cook
That ETH dude cashed out billions and paid taxes on them. Guess it's easier when you have connections.
Eli Lopez
Bullrun confirmed
Elijah Mitchell
I'd wager most eth and btc millionaires are not really the type to have high connections, I wonder how they cashed out.
Bentley Martin
Cashed out $100
Received $20
WTF
Josiah Diaz
Exactly right. Get your cash in USD or whatever in your fiat/crypto gateway, then sort out the tax while it's there and not in the bank. Third last thing you do is notify taxman that you have a capital gain to declare. Penultimate thing you do is transfer to the bank. Final thing is pay tax on the transferred sum.
Easton Bell
There's a Bitcoin ATM near my apartment block, lol, I never bowed to the KYC Jews
I pity the Americans, 2bh
Lucas Barnes
>thinks back to cryptsy, coinedup, countless other exchanges and all of the dead shitcoins along the way
OH GOD NO PLEASE NO PLEASE BE A LARP DEEP BLUE ITSELF COULDN'T UNTANGLE THAT FORGOTTEN MESS
Joshua White
Thats why we need decentralised crypto
Chase Foster
So to repeat the proper order:
1. Cash out to USD on Coinbase
2. Contact and meet with a bank manager with my tax information and full crypto transaction history ready to present to him
3. Once the bank understands the situation, transfer the money to my bank account
4. Contact my CPA with my form 8949 ready to pay capital gains tax
5. Pay all the capital gains taxes
Does this look right?
Evan Sanders
How much?
Luke Perry
Just go all in on FLO until the problem is solved
medium.com
Henry Rivera
>Bong, so make sure you find an accountant and not some faggot on an Indonesian armpit sniffing imageboard as your tax advisor
Switch 4 and 3, so you can show the tax paperwork to the bank that you are paying the good goyim tax. Technically they shouldn't be involved in the stage after they've checked the source, but it's a good idea to shows extra transparency and makes sure they don't fuck you about. Remember your bank manager might be a boomer who believes the "terrorists and drug dealers" fud. Don't hang around making the transfer after this either, as you really don't want the exchange to get h@xx0r3d after you committed to being taxed on your gains
Hudson Hill
The Americans pity you if you’re in Europe with all the hairy ass females and wrecked teeth citizens drinking tea and eating crumpets like it’s still the 1800s
Aiden Johnson
>as you really don't want the exchange to get h@xx0r3d after you committed to being taxed on your gains
What would happen if I transferred the funds to my bank first, THEN meet with the bank manager to prevent this from happening?
Carter Miller
Don't know but as a guess, the bank would freeze your account and investigate you. Look on warosu for "froze my account" for examples
Dominic Sullivan
seriously, this larping user is dumb
Xavier Richardson
Oh I remember someone from here some months ago who wanted to cash out but got huge problems from his bank. Hope you're still here user and managed to shit on the bank in the end
Jackson Rodriguez
I'm Polish, you got nothing on me
The women you call 10s are 7s over here, nigga
Andrew Martin
nice try dumbfuck. non retards cash out with no problems. i've cashed out a metrick fuckton
Joshua Fisher
Hunter Taylor
lol at this meme coming back
Nicholas Long
How do you pay taxes on your gains before you even get access to your money
Christian Rodriguez
wtf I love poland now
Grayson Torres
How did you do it user?
Cooper Ross
What? how? As soon as my bank gets the wire transfer they will just close my account. The wire transfer will probably be lost in the cloud and I'll never see my money again.
Jace Brooks
buy gold