ETERNAL IRS HATE THREAD DAY#001

SniperGod
SniperGod

tell the irs how you feel no one will judge you here.

All urls found in this thread:
https://www.bitgold.com
Dreamworx
Dreamworx

Evade taxes, use Bitcoin.

Lord_Tryzalot
Lord_Tryzalot

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?

BlogWobbles
BlogWobbles

@Lord_Tryzalot

Gold

ZeroReborn
ZeroReborn

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

AwesomeTucker
AwesomeTucker

@ZeroReborn
I can't buy my burgers with gold though...

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

JunkTop
JunkTop

@ZeroReborn

BTC to gold to usd

CodeBuns
CodeBuns

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.

Fried_Sushi
Fried_Sushi

@CodeBuns

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

Evil_kitten
Evil_kitten

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)

Techpill
Techpill

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

TreeEater
TreeEater

@CodeBuns
I guess another option.

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

Exit tax = "I lost it all gambling."

PurpleCharger
PurpleCharger

@Techpill
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.

Nojokur
Nojokur

@Dreamworx
Evade taxes, use Bitcoin.
bitcoin has builtin tax in it you retard.

5mileys
5mileys

@AwesomeTucker
didn't bitgold stiff some guy for like 20k?

seems like a meme company

Poker_Star
Poker_Star

@Nojokur
bitcoin has builtin tax in it you retard.

What did he mean by this?

TreeEater
TreeEater

@Dreamworx
@Lord_Tryzalot
@BlogWobbles
@AwesomeTucker
@CodeBuns
@Nojokur
@5mileys
@Poker_Star

Thank you for identifying yourselves. Expect a visit shortly.

TechHater
TechHater

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

Deadlyinx
Deadlyinx

@Poker_Star
that transaction cost is a tax basically

Flameblow
Flameblow

@Deadlyinx
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

Supergrass
Supergrass

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

PurpleCharger
PurpleCharger

@Supergrass
capital loss tax

BunnyJinx
BunnyJinx

@PurpleCharger
they'll still want it reported though right?

takes2long
takes2long

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

Methnerd
Methnerd

Nice try FBI

BlogWobbles
BlogWobbles

@Supergrass
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

StonedTime
StonedTime

Taxation is theft.

DeathDog
DeathDog

@Evil_kitten
Not sure about Coinbase but +$9999 transactions are relayed

ZeroReborn
ZeroReborn

@StonedTime
rent is theft

Supergrass
Supergrass

@Deadlyinx
@Poker_Star
@Nojokur
eternal sigh

see @Flameblow
you fucking knobs

Fried_Sushi
Fried_Sushi

@ZeroReborn
@StonedTime
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.

Stark_Naked
Stark_Naked

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

Stupidasole
Stupidasole

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?

Techpill
Techpill

@Flameblow
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

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