Time for a meeting

Who here has ACTUALLY met with a tax attorney regarding cashing out a percentage of your crypto holdings? What should I expect? I just don’t want to fuck shit up and want someone to be held responsible if they fuck up on my behalf.

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its just 15% if you held for over 1 year or 2.

Same as stocks.

Look up 'capital gains' tax. Easist thing in world if from the US.

If EU it might be like 40% and u fuked

What if I live in a third world country and my local exchange doesn't have the funds to cash me out?
Literally can't cash out.

If you live in a third world country you probably don't even have to worry much about your tax agency.

Maybe not so third world, the tax agency is very advanced here.

Russia?

Aw shit nigga, its Brazil, isnt it?

in EU you could probably get away, if you start a corporation and reinvest it into your own corporation again, but then again you should have probably set that up years ago...

get a visa to a first world.
buy plane ticket with ethereum.
???
Profit

Country in latin america.
I made a $150k tax paid100% legal transaction and the banks were basically fucking my ass asking questions

I have a visa and I'm not poor. But I can't cash out of binance obviously and can't open account in most first world exchanges. Not to mention cashing out in a foreign country is a whole bag of headaches.

I want to cash out around 800k

>in EU you could probably get away, if you start a corporation and reinvest it into your own corporation again, but then again you should have probably set that up years ago...

Please elaborate on this - I'm the cofounder of a business and would like to know more.

you can wire it to me via btc, I will cash it out for you and send it via mail, give your email

How do you prove you held it that long while filing? My stuff is in cold storage.

ah yes it's [email protected]

I'm just going to pay full capital gains on everything. I don't give any fucks on my $8k buy in.

hahhaha! I deceived you! I will not do as I said!

>tfw waiting for link to moon and have to entertain myself :*

break up your tax liability into 2 years if you have more than 1 comma in your ROI. try to find something to donate to. maybe start your own nonprofit in the british virgin islands and donate to that. kinda like a shell company.

or start a business with high initial investment, like a supercar gallery or some shit. only do that if you really really made it.

that's all i got. idk man

In UK tax on gains is 10% for lower tax band, 20% for higher rate tax payer. First £12,000 is tax-free. Or you could probably incorporate in one way or another, the UK is not called Treasure Island for nothing.

Damn, it's a shame that blockchains aren't composed of some sort of immutable public ledger that tracked the time and date of transactions, provably. That sure would be an invention though, wouldn't it?

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hiring an attorney is pointless unless you have 7 digit gains

CR?

massively inbred retard. I'm impressed

I’m almost at a million and am preparing to cash out a percentage only. First time. In US. I’m planning on paying the 15%. I just want someone to be held accountable if I’m ever audited. Has nobody here actually cashed out over 100k?

>I’m planning on paying the 15%
no, you're planning on paying whatever rate is dictated by the trades you made. all you need is a CPA not a tax attorney. if you actually knew accounting rules you wouldn't need a CPA at all

depending on marriage / income. your first $78k can be at 0% rate...in many cases it would be wiser to quit your job so you have $0 ordinary income...and cashout $78k each year at 0% rate

not a tax attorney. just a guy on the internet