Cashed out 10% of my link for spending money

>>he actually cashed out and let the bank know he had crypto instead of finding a preload card
How does one buy a preloaded card using crypto tho? Or do you mean gift cards? Like Amazon?

this. non-burgers dont understand the irs are literal nazis. worse than the fbi, worse than the cia that literally takes down entire countries.

Federal Long term capt gain tax rate is 15%. You will also need to pay states taxes, which could add another 10% (will vary per state).

USA citizens that don't want to get fucked by the IRS will pay around 25% on their long terms gains.

my bank fucking froze my account because of this
fuck you (((banks)))

Also 20% is nothing, where you get raped is in short term cap gains, which is treated as income tax.

If you make a few million dollars, as I will very soon, just fucking pay 20% of that and walk away scott free and enjoy your life, as opposed to going to jail and getting raped by tyrone

Yeah, and honestly this even goes for other countries too. Straya for example has slightly better (for once) tax laws on crypto than the US, and since laundering millions of dollars isn't worth the hassle if you're just wanting to be a NEET, just pay it. This is especially true if you want to then further invest it into other businesses or boomer stocks or whatever - it's not drug money, stop being so paranoid.

Well it is pretty fucking gay in America though, for example I live in California which has some of the highest tax rates in the country, besides NY.

Florida for example has no income tax I believe, same with Nevada. The reason I didn't sell at the top (had like 1.1MM) was because it would be taxed as income thus at around 40%, so I opted to wait and try to sell it off in chunks or wait a year for coins to reach long term cap gains status.

HOWEVER, as we all know, the fucking crash happened, but now with link I'm hoping to hit a brand new ATH. Before that managed to get out about 450k from a 25k initial investment, not including what I have now. So overall, still fucking awesome.

>tfw 9k linklet
why did you fud us so hard

the IRS is an everlasting blood sucking vampire. You cannot escape it's wrath.

not sure why you faggots bitch so much about the IRS.

If it's long term cap gains, the max rate is 20% on crypto.

You're still getting 80% of the moon pie that you made from doing nothing and jacking off all day. Keep in mind that most people work just to survive.