Hello /biz. US student here. Do you know how making money in crypto affects your financial aid eligiblity?

Hello /biz. US student here. Do you know how making money in crypto affects your financial aid eligiblity?

government dont know about your crypto worth

just dont convert it into fiat and deposit it in your bank account. but you cant do that eitherway ... you cant cash out

They will eventually. All the exchanges will be forced to report, and no one wants to pay back taxes later or get hit with tax evasion charges

its not a gain til you sell.

who is she?

what if you sell but don't remove the fiat from the exchange?

i wouldnt feel comfy leaving my fiat on the exchange, as well as i wouldnt feel comfy leaving my cryptos on an exchange

if you want to cash out, i would try localbitcoin or purchasing other things with btc and selling them for fiat

Iskra Lawrence

what if I mined hundreds of bitcoins in 2010 and want to cash out millions of $ now?

there are people on localbitcoins that are willing to buy your BTC for up to few $MM total value. However, do that through some offshore company

Easy just transfer them to foreign bank accounts and dodge all the taxes. If apple can pay 0.2% international income tax you can too

>this

in this respect im glad to live in germany. if you hold you cryptos more than a year you can cash them out tax-free

That's the one good thing you guys have anymore

sadly yes

Holding individual cryptos for more than a year or just holding in general for a year?

holding individual cryptos

Aren't you required by law to provide 80% of them to migrants?

luckily not yet for cryptos

employees pay taxes to feed the migrants, migrants put their new money into the economy and investors always got a way to avoid paying taxes while making profit off the economy and crises they caused

its the same in america, but not free, just significantly reduced