Tether can curb capital gains tax

you can't cash out from tether afaik

>>2466054
my plan, have bank account in Japan transfer crypto Japanese exchange cash out. Go to bank in Japan get money order check return home.

>>2466054
You won't pay for when you turn Tether into dollar but you will have to pay when you turn another crypto into Tether.

You have to document every time you trade cryptos and tell the IRS how much money you made from them.

>>2466054
What? No. You could trade it in for chickens for all they care you still have to pay taxes on the worth of the chickens in USD minus your cost basis in crypto.

>>2466098
>>2466116
But why? How would they ever know if I didn't use a bank that would shill to the irs?

And if tether is hopeless, If I used a card like shift or tokencard to buy a yacht, a private jet, a couple dozen guns, and a beach mansion in Puerto Rico, how would they know since no jewvernment shilling bank is in charge of them?

>>2466054
It's called an audit nigga. They literally send government IRS agents to your fucking house/business and act like FBI agents would.

Do not fuck with the IRS unless you know they have absolutely no way of figuring out you have crypto, which they will find out if you try to exchange it into fiat and have it in a bank.

Even the fact that you have crypto might trigger an audit in which case you'll have to get a tax lawyer, good luck getting one that knows about crypto laws faggot.

>>2466166
Do you really think that those cards don't report to regulatory authorities?

>>2466197
fuck off back to your IRS job

it won't be around much longer. taxation is going to be voluntary in the decentralized world. get use to it

>>2466219
Do they? You know what they say about assuming things. So source please

>>2466197
> in fact, if you even have 1 satoshi in a shitcoin, you're fucking dead kiddo. YOU HEAR ME! MISTRESS FEINSTEIN AND HER WICKED SISTER PELOSI ARE GONNA GET YOU MY PRETTY... AND YOU YOUR LITTLE DOGECOINS TOO!!!!!!

yeah, the Silverman-goldstein-schultz-Lebowisktz shilling is too transparent in your post. Tone it down you plebbit nocoiner beta

>>2466289
Any transaction that is over $10,000 must be reported to the IRS with Form 8300.

>>2466372
So $9,999.99. What's the wait period in between transactions before is have to fill out another

>>2466595
Have fun getting buttfucked by Structuring laws.

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>>2466608
im too busy hard at work trading to look up tax laws, they can send me a letter or something after i make my gainz

>>2466595
has always been this way folks. Just happens to be the case with Crypto now

Do I still have to pay crypto taxes if my net income was under $10k for the year?

>>2466166
former car salesman... you can't use a "card" to pay for jack shit.

no finance dept will sell you ANYTHING for unaccounted for cash (in the US) unless it is below $10k

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>>2466821
Hmm, so what you're saying is I have to build my assets by buying components for whatever it is I want if I can ascertain them and working on them myself to construct them or hiring a bunch of pajeets, ruskies, and wetbacks to build it for me and paying them in a wire transfer?

Goys if you need to post here to find out about tax evasion you most likely will not get away with it.

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>>2467006
>4chaners and meme magic cant achieve anythi....

>>2466098
this. every move from crypto to crypto is taxable unfortunately. tether is just another crypto in the eyes of the fucking IRS

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> you're listing all your trades for the tax lawyer
>your eyelid begins to twitch when you get to the part where you bought some waves
>"Then I got sent some *mumble*coins"
> some what coins?
>you see a noodle poke its head out of your pocket and mumble again
> Some erger coins?
> NIGGERCOINS ALRIGHT? I GOT SOME NIGGERCOINS IT WASN'T MY FAULT
> Uh huh... And was this before or after you bought the tip and and then panic sold digibyte at a loss 4 times in a row?
>Hfw you say "After, I think"

>>2466078
>Deposit money into us account from Japanese bank
>Get audited, because money is now us account
With tax you're guilty until proven innocent

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>>2467231
Read the constitution, realize that it don't mean jack shit these days.

Want to cry.

>>2467136
As you were, gentlemen

>>2467231
So what you're saying is
> live in the us
> about to buy a yacht
> finance dept is ready to boot my ass out the door and into an unmarked crown vic with IRS agents at the wheel on the first sign of trouble
>down payment gonna need a form 8300, but got a low interest rate and monthly payment under $10k from the finance dept
>have a reputable offshore jap bank acct with nothing in it
>deposit Cryptos into sushi bank of toyota right before swiping card to let Visa or MasterCard International process their transaction fees, which would be exponentially lower (maybe??????????????)
>profit....?

Would this be the way to go then?

>>2467216
LOL
I can see this happening again and again once big daddy Sam cracks down on crypto reporting

>>2467417
it seems smart until you realize you ended up with a yacht on credit

Some day, we might not have to go back to fiat.

It'll be glorious.

Jews will starve to death.

Do you have to pay tax on your gains no matter what in the US? Ive read that in Germany you can get rid of the tax if you have ur money in your wallet and u dont trade with it a whole year?

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it's simple lads, just "gift" all your crypto to a relative and have them cash it out. then they can hand the money back to you

>tfw two smart four my own good

>>2468030
>Only goes up to like 90,000
>only one time
> only have so many relatives and
>even fewer you trust
It's a nice loop in emergencies but for regular trading, no. I like my crypto into empty jap bank with visa international fees better

>>2467991
>Thinking you got into crypto before the jews.
hahaha

>>2466098
>>2467169
No it's fucking not, you ACTUALLY think that every transaction is taxable? lmao what

Get a good friend in a different country with more favourable tax rules. In Ausfagland we pay 10% GST, that's it. Happy/not so happy to do so but it's clear cut and not a complete gouge.

>>2468106
That's how it works with actual currencies if you trade forex. If you make any money the government wants some of it.

>>2468119

Wat? Get them to cash out and send it back to you and you only pay 10% tax?

>>2468119
So Japan where crypto is an actual accepted currency and just pay out in exchange rates when you deposit it into a national jap bank before sliding your card on big transactions.

Shift and tokencard for smaller, everyday shit

>>2468163
Can anyone open a Japanese bank account or would I have to physically go there?

>>2468119
We pay CGT sucker.

>>2468233
Having a an account in another country means nothing. You're still liable for CGT whether you're an ausfag or murifat. You would need to go to japan and become a citizen.

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>>2468250
Where do I sign up?

>>2466054
Just use this: https://www.bitpremier.com/search?query=lambo

>>2468119
Holy shit you are stupid fuck.

>we as consumers pay GST on transactions, i.e. the government takes 10% of every single transaction as tax
>we as asset holders pay CGT, which is effectively income, unless you hodl for 12 months, then you only pay tax on half of it