>ask mom for help with taxes >been working at mcdonalds

>>2039278
Are crypto profits taxed like normal capital gains?

>>2039286
i believe if you hold them over a year, then yes.
otherwise they're taxed as your income.

>>2039291
Ok. Idk capital gains rates compared to regular income. It's probably negligible for people moving the usual amounts of money.

>>2039295
iirc, the difference could be as high as 10-15%.

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>>2039278
>anon... no, don't do that. You mean $100, right? You can't...HE CAN'T BE DOING THAT. No, it doesn't work like that. Anon, you've done your research right? You didn't do that. I don't think it works like that. A lot of these kinds of things, a lot of people in this world... how much? my friends do stuff like Facebook, but you should call your bank. Tell them you made a mistake. You know supporting those big weed industries is what they want. Anon... that's not the real world you're plugged into I'm telling you now... Anon, getting rich quick... how much? You can't be doing that.

>>2039278
why the fuck would you tell the IRS about your crypto gains....

>>2039662
I was just flexing on my pleb mom desu I evade shhhh

>>2039291
so when you use kraken or coinbank do they take tax into account for you?
like I don't want the police coming after me because I accidentally avoided paying taxes

>>2039662
Because the exchanges already will

>>2039667
>I evade

Reported

Enjoy prison

>>2039278
Lol don't pay taxes on crypto you fucking dumbass. Either keep them as unrealized gains or cash out on fucking localbitcoins and then keep the cash and don't spend it.

>>2039278

>and stocks
what a faggot

>>2039690
>keep the cash and don't spend it

What the fuck is the point then? If you ever want to make a semi-big purchase you would get ass fucked by the IRS

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>>2039690
>>2039667
>>2039662

realistically how likely is it that the tax man will hunt me down?
Where should i withdraw from to lower the chances?
i live in canada btw

>>2039278
also why would you still work at mcdonalds if you have 75k. go to trade school or day trade or something

>>2039278
What if i don't file taxes because i moved to a new country? However im sitll using my usa bank account

>>2039733
You still have to pay US taxes if you're living and working in another country.

>>2039736
How do i pay these taxes then? Is it the same way i do for my regular income?

>>2039657
kek

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>>2039278
> McDonalds

>>2039722
i get 50% discount bruh

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>>2039698
>He wants to spend his money

>>2039701

Tell me what exchange you trade on. I'm in Canada too and need a hobby.

>>2039989
bought bitcoin on coinbase, using poloniex exchange. Literally just got into it a month ago though, so I really have a lot to learn.

>>2039679
someone pls answer my question

>>2040044
coinbase
http://www.coindesk.com/irs-summons-will-mean-coinbase-users/

>>2040046
>>2039679

they don't charge you taxes. You're supposed to tell the IRS yourself what you have gained.

>>2040046
https://support.coinbase.com/customer/portal/articles/1496488-how-do-i-report-taxes-

>>2040060
but IRS isnt in canada

>>2040064
do you also have to report trades?

>>2040044

Thanks I'll look into it.

I googled Coinbase Canada but it seems they don't support CAD properly. You can purchase it, but the withdrawal sounds like it will destroy you as the only means is a wire transfer. (Says international wire and foreign exchange fees will be deducted)

How do you plan on getting your money out?

Say I'm a US citizen living as an expat, transferring to and from a non-US account.
Do I have to give a fuck about taxes on crypto gains?

>>2039772
the most jewish man in the world everyone