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As we know, many of you on here are filthy NEETs who love disability checks but hate paying taxes on your Internet money. Unfortunately, dodging the IRS isn't an option (richer and more important people than you get caught all the time), so here's a little something just a Google search away that should easy any concerns you may have.
>pic related
As you can see, you do not have to pay >30% on your crypto gains if you can HODL for over a year. After that it becomes much more manageable. Essentially this means that daytraders are going to pay ludicrous amounts, hope you all have iron hands.
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>mfw when i live in switzerland and only pay 1.5k cap gains tax on every million. /comfy/
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What about short-term?
As much as I'd love to hold ETH for longer than a year, I don't think that's going to happen
Inb4 "weak hands"
Nah, just too volatile
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>>2351855
Nice man. In Burgerland we pay taxes on every cent we could ever make.
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>that glorious feel when non-american living in a third world country where tax collection is lapse as fuck outside of local income tax, property tax, and general consumption tax
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>>2351868
marry a swiss waifu and come here, minimal niggers and get views and curvy roads to drive your lambo on. I was born in north america but my father was swiss so i got lucky.
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So do we have to pay taxes for every transaction? Bittrex lists every transaction you make but you have to calculate the dollar amount based off the price of BTC on that day, it's kind of annoying.
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>>2351868
Just to give more info, everyone in the UK has an annual allowance of 11,000 capital gains before you start to get taxed. If you want to be really safe just only cash out 11k a year. There's all sorts of other complexities and reliefs and rates above this, maybe I'll write something up at the weekend.
t. Tax accountant
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