ETERNAL IRS HATE THREAD DAY#001

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Evade taxes, use Bitcoin.

So when we eventually cash out as multi-millionaires in btc, how do we use it as fiat?
I mean, I'm not trying to be a ''''cuck'''' but I'm also not trying to be audited by the IRS.
What do to keep my millions?

>>1378775

Gold

>>1378828
Btc to USD to buy gold online..?
I can't buy my burgers with gold though...

>>1378835
>I can't buy my burgers with gold though...

Of course you can:
https://www.bitgold.com

>>1378835

BTC to gold to usd

I've been wondering this too. If any of my current crytpo investments pan out....

Option 1:
Wait until trumps lower tax brackets are in effect to convert to USD (coinbase). At which point I'd have to declare it as income (as I understand it). I'd only do enough each year to stay in my current tax bracket.

Pretty cucky...

Option 3:
Sell as much as you can all the time through local BTC/craigslist or whatever. Pay for everything you can in cash, use your official "paycheck" money for mortgage or whatever with a paper trail.

Could be a pain in the ass depending on how much I'd have to move. Also could be dangerous/get jacked.

Option 2:
Just keep it in BTC, eventually you'll be able to spend it everywhere.

May be a while...
Pipe dream anyway, my stash hasn't gained much at the moment.

>>1378843

I believe it's classified as capital gains

If you start a mining company you can claim it as income even if you aren't really mining

Does Coinbase send your transaction info to the IRS? I sold around $16k worth of BTC but a lot of that came from another exchange and so while it looks like I might have made money, I actually lost quite a bit ($650 buy in, $550 sell)

>>1378875
Wouldn't you wan't them to see that? So you could claim it as losses?

>>1378843
I guess another option.

Sell all your stuff, combine with BTC gains and expatriate.

Exit tax = "I lost it all gambling."

>>1378899
If I log into my Bitstamp account to retrieve the exact transaction information, I have to go through their FATCA compliance bullshit which is just going to cause me more problems, so no.

>>1378764
>Evade taxes, use Bitcoin.
bitcoin has builtin tax in it you retard.

>>1378839
didn't bitgold stiff some guy for like 20k?

seems like a meme company

>>1379496
>bitcoin has builtin tax in it you retard.

What did he mean by this?

>>1378764
>>1378775
>>1378828
>>1378839
>>1378843
>>1379496
>>1379525
>>1379539

Thank you for identifying yourselves. Expect a visit shortly.

Don't hate the IRS for doing their jobs.
Hate your representatives if anything.
Taxes aren't a bad thing

>>1379539
that transaction cost is a tax basically

>>1380922
You're an idiot.

It's a fee, not a "tax" and it's hardly "automatic". It's also pennies. You can literally $1m USD in BTC across the globe for $0.25

>tfw started trying to trade crypto because i wanted to get rich quick
>had no idea what i was doing
>trade history list on exchanges has over 10 pages of trades listed
>kept next to no records of when i moved coins from wallets or to other exchanges
>find out all of this is subjected capital gains tax
>i'm a dumbass who needs to use turbotax just to file a 1040
>no idea what i'll do come tax season
>this is starting to keep me up at night
>i haven't even made any money yet
just kill me

>>1381247
>capital loss tax

>>1381326
they'll still want it reported though right?

They attack widows to collect death tax.
They are a bunch of feces munching little girls who couldnt understand high school physics

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Nice try FBI

>>1381247
The cashout is subject to tax , as in if you made enough money that when you send it to a bank from coinbase it actually raises IRS red flags

Then its capital gains. 15%

Super not complicated

Taxation is theft.

>>1378875
Not sure about Coinbase but +$9999 transactions are relayed

>>1382603
>rent is theft

>>1380922
>>1379539
>>1379496
eternal sigh

see >>1380937 you fucking knobs

>>1382607
>>1382603
both of your are kind of right. Taxing labor is theft, and because the government has no inherent right to the land it isn't valid rent. However, the landowner doesn't have a magical right to natural opportunities either- after all, they aren't created from his labor, from his self ownership.
The statement that taxation is theft is generally true, but not universally true. We can tax unfairly gained but unredistributable capital, and still not be stealing. We can tax negative externalities, and not be thieves. We can have the government invest in the stock market with these taxes, and the dividends won't be theft. Minarchy can be completely justified on a deontological basis.

>>1382627
also, you can decide not to pay the fuckin tx fee if you're really that stupid

I'm in Canada and just have a pleb savings account at a local credit union. If I invest in cryptocurrency, and let's say make a big profit, could I just open an account somewhere in some other country and deposit it as USD or another currency and minimize taxes that way?

>>1380937
well you can but unlikely the more wallets you spend in a transaction the more the fee grows or you risk no confirmation. and it's basically the worst when you try to buy stuff with it it can go up to 1-10% of your spending that's a fucking vat.
>Don't hate the IRS for doing their jobs.
i can and i will nevertheless
>Taxes aren't a bad thing
that depends on what are they spent on which is indeed not up to the irs but they serve the fuckers blindly who shit in your face and steal your money