So your risky investment that you spent your own hard earned money on was a success, and earned you a nice profit. However, you now owe half of this money to the IRS. Why, exactly? How is this not unironic thievery? I think I'm starting to understand why some people are so keen on trying to find loopholes to bypass this jew tax. The more money you make, the more you lose. The worst part is that you don't even get any of it back.
IRS Burger Tax
Grayson Harris
Other urls found in this thread:
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Sebastian Howard
Why do you think you owe half? Capital gains is no more than 30% and that's with penalty. Why you anons try to exaggerate that comes from either sheer ignorance or a deep seated trait pathological dishonesty
Samuel Bailey
giving the government 30% of your gains because they said so. its crypto, decentralized. nobody owns it why the fuck would you give away your hard earned $$$
Jackson Gutierrez
Ahhh, intellectual dishonesty it is then. I'm not telling you do do anything nor am I suggesting that I will. I dont feel that i should have to point out that you mentioning 30% is actually the entire point of my fucking comment. Read it again brainlet lord. Spend all night if you need to, there's no way you cant understand the point I was making. It's a fucking paragraph desu
Wyatt Butler
Have fun when the IRS busts down your door. They are not joking around with crypto, you guys are low hanging fruit to them. Nobodies with lots of money they didn't pay taxes on. Watch your ass buddy.
Josiah Sanchez
And dont forget to pull up the dictionary for the term "penalty"
"In 2018 and 2019 the capital gains tax rates are either 0%, 15% or 20% for most assets held for more than a year."
Xavier Jenkins
37% is the highest, plus state taxes
Jaxson Nelson
Let em spend their whole life either to dumb to fear it or just smart enough to live the rest of their life on edge because they thought they were too "new paradigm" to shell out 15% and literally have paid their protection money to the psychopaths running the show. Fuck em user.
Easton Ortiz
Because the highest tax bracket is 37% but that does not include state capital gains taxes. If you make 1mm in somewhere like MA, NY, OR ME, you have to give 500k to the IRS.
Andrew Martinez
This is my gift to you, just happened to read this depressing SOB just before I saw this thread. This ain't no dress rehearsal. Though you could always live on the run like McAfee, hes a straight shooter with nothing but upper management potential. You'll do it better I'm sure.
klasing-associates.com
Hunter Morgan
just hodl until crypto becomes so pervasive, you can just use it to buy shit, then they can only really get you on sales tax
William Green
Very true. My state isnt a prick about it, and by the time I've hit a mil I'll have reinvested and claimed losses in other things enough to AVOID the majority of the gains tax at that max bracket. Avoid, dont evade. This has been a public service announcement. Kys
Sebastian Powell
Hudson Phillips
So wash your crypto through Monero and sell it for cash then. But dont fucking cry to anybody when they retroactively come back and fuck your boy pussy.
Serious question, do you think you are smarter than the IRS?
Blake Ramirez
Jayden Young
Don't forget that you also have to pay sales tax on anything you decide to buy with whatever money you have left over after the government robs you the first time
Nicholas Stewart
All taxation is theft
Xavier Richardson
based and redpilled
Thomas Wilson
tax code will change over time also keep in mind
Austin Collins
That's my biggest beef is I will have reported and paid my dues only for the people who evaded to benefit from undated tax codes. On the flip side you could get grandfathered into more lax tax codes if you reported like a good boy early.
Isaiah Phillips
Cash out through bitcoin atm
Isaiah Wright
>implying uncle sam will let you get away with playing less
LOL
Caleb Rogers
Imagine, for a moment, that you are an IRS agent. A proud American Patriot who takes their job seriously. You show up to work, an eagle soaring over your head as you enter the Federal building. You check the latest news headlines: "Billionaire Epstein raping kids on a tax evasion island he transports the most connected American politicians and elites to and from, will there be justice?". You laugh slyly as you down your bottom barrel preground coffee sludge as you check your 401k and pension statements. "Only 35 years to go until I can retire, that'll be the day". You realize you forgot to pay your mortgage to your bank which launders Mexican cartel cash and shorts your mortgage in a derivative that you need two PhDs to understand as they structurally attack the economy and destroy the standard of living for hundreds of millions of workers. You then realize you forgot to pay your child's rent in a university town house owned by a foreign tax evading money laundering Chinese national who has three children conducting industrial espionage financed by the CCP. You turn on your 2009 iPod touch and navigate to your Greatest Hits playlist, with a pair of Bose comfort headphones adorned over your ears, and click play while assessing your task for the day. "Follow up on NEET who inherited 40k from deceased relative and owns 32k of cryptocurrencies from hundreds of trades". Living the fucking dream.
Justin Morris
if only there were a crypto to prevent this do-goodie wageslave from fucking with my shit...hmmm
Hunter Adams
Desu that's the most based advice ITT. And yes, it may. 2018 hosted some very promising hearings from Senate and Congress. I was impressed for the most part by how humble they were in accepting what the market is becoming in contrast to their general distaste and ignorance of it at their core.
I came out of that with a strong confidence that they are not attempting a wrecking ball approach to regulation as they would for most any other market in the financial sphere.
However the government agencies are insuring themselves by saying every so often that there is no reason to treat this market any differently just because its crypto.
So it's your play user, we've got balls and are crafty lest we wouldn't be in the investment position we are.
Me, I'm paying their protection money. Its priced in as far as I'm concerned. Just pay it off with your job till you get big gainz and manage your bracket. Retire. In peace.
I love you guys, I fucking do, /biz has given me an amazing 2. Stay safe!
Tyler Thompson
Kek
Ryan Flores
lol
and
based
Caleb Foster
Finance burger here btw. I'm taking the long term capital gains approach. Which means iron hands. It's easy to do if you have some winners.
LINK, VIDT, IHF
When you think about it, it's gonna be 2020 when the halvening occurs and that's the start of the REAL rally, so holding long term is not only less stressful but also beneficial if you swing in the wrong direction. You're gonna make some profit anyways.
I'll probably need a tax attorney when I finally cash out though.
Thomas Sullivan
no if you live in new york, you also pay city taxes,
states taxes and federal taxes.
can be as high as 50%
Brody Torres
You do get it back, friend. It goes towards our beautifully paved roads and highways among other public projects. It pays your local government officials who go above and beyond to help the citizen. Lastly, it helps pay down the debt, a necessary evil we must deal with in order to combat inflation. We must give money back to the federal reserve, shrink the money supply, and fight inflation to keep our economy strong. Plus its nice to have the dirty dollar bills removed and replaced with nice clean ones from the printing press, wouldn't you agree?
Jackson White
>should I voluntarily pay taxes on crypto?!
Anyone who doesn't know xmr exists at this point should just kill themselves. I simply don't fucking understand how we have the same exact thread several times a day.
Pay your fucking taxes like a pussy, faggot.
Daniel Robinson
the only thing the US government hates more than murderous terrorist is a tax evader. not even worth trying to evade.
Christopher Wright
How do you even attempt to evade when all exchanges require your SSN?
Jordan Johnson
Had a history/government teacher way back in high school in 2010 that made us write tax is legalized theft on a test. He was alright.
Robert Cox
Email, ip, location, ai mapping blockchain webs, kyc on most landing strips INCLUDING shapeshift.
It's not the same game as it was 8 months ago. Just understand that user.
Henry Howard
holy glowniggers
Logan Hernandez
I got away with 400k in 2017 and about 120k in 2018 and the IRS never brought it up. But I have all my gains wired into my account from a tax haven that I cash out to from a foreign exchange so that could be why. Anyway I've filed my returns for those years and didn't mention crypto at all and nothing happened.
Blake James
Can’t you just keep it in ether and only cash out 39k a year? I read somewhere that you don’t pay any tax on it unless it’s 40k or above.
Luke Hughes
>nothing happened.
Until now. Reported your ass.
Aaron Hall
bootlicker scum
Austin White
If this wasn’t pasta before it is now
Charles Mitchell
If it's a long term hold, its 0% tax on any gains less than 40k USD. But it has to be a long term hold, so at least one year.
Blake Rogers
Pass the CBD oil lotion fren
Cooper Torres
Does that mean I can hold Tether for a year and pay no taxes?
William Russell
>how can you sell drugs when opening any store requires ID on file?
Sell monero for cash. Jesus, you are all such fucking goody twoshoes, fucking hell. How in holy fuck do I seriously need to explain something so painfully obvious. You go to a police station, make the sale and walk away with cold, hard money... invest in a good fireproof/floodproof safe.
Yes I'm mad. You people are a bunch of sheltered faggots.
Sebastian Lee
Yeah I think you only pay taxes when you cash out
Adrian Ramirez
What kind of people will you be dealing with that carry $10k's or $100k's of cash around? They might give you counterfeit bills.