They're learning

BunnyJinx
BunnyJinx

Fucking normiebook is balls deep into my shit. How long until the taxman comes knocking?

Do I cash out and take my family into the hills before the helicopter snipers move in.

Soft_member
Soft_member

What's the problem? Why don't you just pay your due tax, criminal?

iluvmen
iluvmen

(((This))), fucking checked too.

SniperWish
SniperWish

It's too late to avoid paying taxes.

People are saying now that coin-to-coin trades are taxable too.

Best to just move all your funds to long-term positions, then get straight with the IRS, then don't touch it for 5 years.

StrangeWizard
StrangeWizard

kek my tax guys gonna flip
What is Nigger coin?

idontknow
idontknow

No, not when state + federal want literally 30% of my gains, that I'm trying to use to pay for COLLEGE,
TO MAKE THIS COUNTRY BETTER!
BUT NOOOOOOO, 30% PLS

seriously how do I get out of paying such insane taxes even though I'm already poor
I'd be willing to pay up to 15%

Fuzzy_Logic
Fuzzy_Logic

What do you mean you made 10k by trading "Niggers" online on a decentralized network?

Crazy_Nice
Crazy_Nice

Everyone make sure to report your niggers to the IRS.

PackManBrainlure
PackManBrainlure

The day will come when we can report them to ICE.
Also, we ascended to shitposting on tax returns.

Dreamworx
Dreamworx

Short term capital gains are taxed at the same rate as income. Say you made $50k wageslaving and invested $2k in crypto then fully cashed out during the year and had $25k total from crypto. You would be taxed on a grand total of $73k ($50k normal income and $23k short term gains) as income. You're not getting taxed 30% unless you're in the appropriate tax bracket.

Snarelure
Snarelure

Thank you user for your rare and helpful advice. I will look into it

RumChicken
RumChicken

Youre doing God's work user, Jesus would be proud

SomethingNew
SomethingNew

paying a single cent on taxes HAHAHAHAHAHA

CodeBuns
CodeBuns

No problem. Just make sure to actually look into it and not just take my word.
Also remember that you're only taxed on your net gain. So losses can be claimed as well. You don't pay taxes until gains/losses are realized, which means any exchanging coins for anything else, dollars, goods, other coins, services.
Buy and hold = no taxes.
All of this is from an American perspective BTW.

PurpleCharger
PurpleCharger

Bear in mind that I'm not a tax professional and hold your coins for 18 months if possible so you get that sweet long term capital gains tax rate

PurpleCharger
PurpleCharger

holy shit underrated posts

haveahappyday
haveahappyday

i want this to moon so goddamn bad right now, exactly because of this

Lunatick
Lunatick

only have 10 niggers
will never be a rich nigger trader
I even made with up with a cool name for my wallet, NGROwner.
3P26hHJjobnQFqfteKqWgMmr6sPrpcHgUyg
;_;

Poker_Star
Poker_Star

(only risk capital you're willing to lose)

Heh.. if only they knew...

WebTool
WebTool

What if you had a wallet with BTC on a dead hard drive or you lost your private key? Do you still have to report that as income even though you can never use them? Do you report that as a loss?

JunkTop
JunkTop

as far as I know, you're only paying tax on what you take out because its not money until its money if that makes any sense.

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