That's right no capital gains taxes

>only for 15% tax bracket and below
You're not getting a lambo like that.

How many people are really going to spend all thoze monies on stupid shit like a car?

Also get married but tell the bitch she is needed for increasing the ceiling and she can't work because taxes.

On the one hand, that's a good point.

On the other, I'm not going to avoid cashing out for a year just to get caught in a crash or have my exchange go under.

>>2112749
what are wallets?

>>2112601
USA burger here.

What's stopping me from just buying gold/silver with my BTC and then shipping it to my home and slowly selling it off?

Also, how the fuck am I supposed to know how much I should pay when I buy at various points? For example, I buy 1 BTC today for 2k and sell one year from now at 2.5k. That's easy. But what if I was to buy .1 BTC at a time over the course of that year and sell it off at the end? It just seems like such a hassle to keep track of every single transaction ever, especially when day trading shitcoins.

Seems to me IRS should just fuck off or the gubbmint create their own crypto to keep track of shit.

>>2112671
all of us.
>every
>single
>person
on /biz/ will buy a lambo if they are in crypto.

>>2112787
>such a hassle
just tell the irs that and you'll be fine

>>2112845
Well clearly no one's going to do that. I'm just saying I'm an active trader it is just going to be a bitch at the beginning of next year to do that shit. With stocks, I'd just hand it to my jew accountant and he'd do it. This seems like I'm going to have to figure it out.

>>2112749
>have my exchange go under.

Your first mistake

>>2112863
>seems like I'm going to have to figure it out.
or just dont

>>2112990
So what do you do then? Just avoid?

>>2112601
You know,the feds are gonna start asking questions once lambo-tier amounts of money start shoeing up in your bank accounts with no explanation

>>2112601
What if I cash out in a country with no capital gains and move back to US

>>2112766
>>2112980
Yeah, forgot about that. I'm retarded.

>>2114034
Uncle Sam doesn't care where you made your money. You're a us citizen, you owe money on the docks you sucked in Bangladesh.

>>2112671
To be quite honest with you family I would buy a lambo just because of teh may mays.

>>2112601
Is this fucking news to you?

This is why I, as someone who is married, say fuck all to IRAs and simply use regular brokerage.

This is fucking old news you moron.
>>2112691
I did precisely this.

>>2112671
I meme about the lambo, but fuck that. First thing I'd do is buy property

>>2112671
If I had an amount that could afford it seriously, like 2.5million or more, I would probably buy a lambo just for the memes as the other guy said.

>>2114056
Retard here. Does that mean that somewhere who's a permanent resident in another country/holds duel citizenship gets literally raped by taxes from two countries?

File: dgc.gif (413KB, 500x471px) Image search: [Google]

413KB, 500x471px

Yeah no.

IRS doesn't care about laws, Uncle Sam will make you pay whether you like it or not.

>>2114093
*someone

>>2114093
Yes, it's really fucked up.

It's even worse because if you work globally, you still pay fucking US income tax even if you're getting payed in rupees.

File: rupee.jpg (54KB, 675x406px) Image search: [Google]

54KB, 675x406px

>>2114124
WHAT?! Fucking jews.

>>2114083
this
lambo will lose 50% of its value the moment you put your foot on the gas, and it makes you look like a faggot.
First thing I'm doing when I reach $10,000,000 is I'm buying a nice apartment in Manhattan. Either Tribeca or Upper West Side overlooking Central Park. Then I'll see what I want to do with my life from there.

>>2114093
It depends on which country. Some countries like Canada/UK have tax agreements with the US so you only have to pay tax in one. I think New Zealand has no capital gains and they're quite likely to have a similar tax agreement.

>>2114194
>buying a lambo make you look like a faggot
>talks about buying an apartment in manhattan overlooking central park
nigger are you serious

>>2114093
Only if they have an American citizenship. Some other third world shit hole does this too. American tax system is literally third world warlord tier

>>2114194
buy a used lambo then

tribeca is shit btw. it looks like an abandoned industrial zone. west village is much nicer, except for all the gays

>>2114194
you can't afford an apartment like that with 10 mil. My mom's bosses own a triplex on Park Ave and its valued at 25 mil. Their maintenance is 10k/month

>>2114095
This. Some IRS agents can even carry assault rifles. Uncle Sam will make you bend over and take it till you bleed.

It's no taxes up to the 15% tax bracket (or $37,950).
So if you made no money but crypto, you won't pay taxes on your first $37,950 profit. Anything after is 15% (better than normal income tax).

Just sell up to $38k in crypto every year, and you will never pay tax.

why don't you just cash out in a 3rd world country? i'm a roach and i don't pay taxes whatsoever.

>>2112787
On most exchanges you can instantly generate a spread sheet of all your past buys and sells that figures this out for you

>>2112671

yeah i definitely wouldn't.

>>2115540
Thanks nigger

>>2112787
>What's stopping me from just buying gold/silver with my BTC and then shipping it to my home and slowly selling it off?
Nothing.
The IRS tracks you from what cash you deposit in your bank account. They tally up your deposits and treat it like income. If you only deal in cash, they will never know.

>Also, how the fuck am I supposed to know how much I should pay when I buy at various points?
Technically you are suppose to record your profit/loss every time you spend or sell crypto.
It's treated like an asset (ie stock).

The moment you sell or buy something with your crypto, that transaction becomes taxable. If you never sell, you never pay tax no matter how high in value it goes.

>>2115525
Crypto aren't banned in your islamic shithole?

>>2115622
nah. even if they ban crypto, it will go underground like online betting/casinos.

>>2112601
>implying you can cash out safely
Even coinbase will shut it down the moment you try.
Give me one success story of someone who cashed out without getting hacked or scammed

>>2115617
Thanks nigger.

>>2115663
you're an idiot, you think there is several billion in crypto and no one has ever cashed out?

>>2115676
Nobody dares to fuck with powerful people. Those are the only ones who cashed out.
Typical threads pop up everywhere complaining about exchanges sending your bitcoins somewhere else when you try to cash out.

>>2114194
I'm not satisfied with millions, I will invest those millions to make some billions

>>2115622
Sharia compliant coins exist
https://onegram.org/

https://onegram.org/wp-content/uploads/2017/05/Onegram-sharia-opinion.pdf

ICO in 7 days actually

That's why yoy just hold it in exchanges indefinently and cash out slowly yearly.