I'v made close to 3 million in crypto (no larp) yet I've not declared any of my crypto holdings nor done a tax return ever because I've never worked a day in my life.
I really need to take some money off the table, however I want to do it overseas. I'm considering buying a golden visa to Portugal because their tax laws seem much fairer than most places but it's going to cost me a minimum of 350,000 - 500,000 Euro. How the fuck am I going to convert my crypto to a Portuguese bank without giving myself away?
Has anyone done a dual-citizenship to cash out?How do you hide your wealth?
Nathan Watson
You don't have to hide larps
Nathaniel Carter
He said hes not a larp
Owen Diaz
Just buy things with crypto what’s the problem OP. Isn’t that the whole point.
Joseph Martinez
I wish I was larping. I think I'm just going to get ass raped by the tax man
Jose Torres
>no idea what a golden visa is >look it up >you're basically paying to become a citizen
wuuuuuuuuuuuuuuuut that's pretty crazy
Levi Diaz
Bulgaria is the best country in Europe to do this. Only 10% flat tax.
Angel Gray
48% taxes are my problem
Lincoln Carter
lol i can already tell youre fucked if you’re not joking with that idea. especially since you just admitted your intention to commit tax fraud on the internet.
Jace Bell
I hear Estonia is good too. But Portugal seems like the least shady country
Julian Kelly
Ummm I will be paying tax (in Portugal). This is not illegal, just minimising the damage.
Bentley Evans
Depends, how long have you been holding said crypto?
If it's over a year, you'd be paying capital gains taxes in the US, which the to rate I believe is 20%. Honestly, see if you can find a tax lawyer or tax accountant who can advise you on this. May cost you max $300, but at least you know what you'll have to do so you don't end up in jail getting raped.
Luis Robinson
Prove that you're not larping or fuck off.
Angel Ross
>intention to commit tax fraud
Is it even tax fraud if he hasn't cashed out? Basically, my plan if I "make it" is to withdraw money to my bank account. If there's even a hint of government intervention then I'll be balls deep somewhere in Asia. Both figuratively and literally.
Daniel Taylor
withdraw a bit of money*
Caleb Perry
You can apply for Estonian citizenship via the Internet and you don't even have to live there. I sent my application 4 months ago and hope to get it soon.
Isaiah Bennett
I'm curious, why are you deciding to cash out right now?
Justin Roberts
Your plan makes no sense.
1. As an amerifag, you'll still have to pay cap gains, legally. Enforcement is a separate issue. 2. You're going to buy a golden visa for 350K EUR for what? How would that end up saving you money in the end?
If I were you, I'd just do small selloffs each year and pay the cap gains, but keep in the lower tax brackets.
Grayson Bailey
Just marry a Portuguese lady, or are you a kissless virgin?
Tyler Sanchez
This.
Owen Nelson
Flat rate tax is 20% for day trading. If I hodl a coin for a year capital gains is 0.
I figured if I take out like 700k I should still have plenty of money in crypto to continue making huge gains.
Joshua Mitchell
>Always leeched, never contributed in his life How do I continue to steal like a nigger?
Logan Williams
Well, taxation is theft, so I would try to minimize it too. And I'm a hardworking chink
Blake Diaz
Prove. That. You're. Not. Larping. Faggot.
>5219404 >5219404 >5219404 >5219404 >5219404
Carson Lopez
You Will get more than 1,5 million, thats not bad at all... Pay a good lawyer to follie the process.
Hunter Barnes
That's different, my friendly ching chong, you deserve to hide your gains as I'm assuming you have a productive job and pay taxes.
Also,
Zachary Allen
Follow
Nolan Lee
Going to Portugal and even becoming a Portugese citizen won't do shit for you. Hear this: Americans have to declare their worldwide income. Get a tax lawyer. Hypothetically he could hook you up with some offshore company and bank account.
Gavin Taylor
Man, you americucks really have it that bad with taxes? In my country in Europe I only pay a flat tax of 15% when cashing out crypto to fiat. Feelsgoodman.
Ryder Allen
The tax bill that will pass this week has a provision in it where individual's LLCs can get a 20% reduction on taxes. Basically, you can set up a one person llc, for real estate or whatever, and claim your gains as a business gain on your personal income tax after Jan 1. Setting up an llc will be FAR cheaper for you than buying a visa and also you'd still be paying the tax man.
You can live comfy in Portugal with much less. The average income there is pretty low from experience.
Jacob Rodriguez
That's the problem, there's nothing concrete. There's multiple ways of looking at it. Worst case is you could literally end up needing to pay more tax than you made. Best case is you pay essentially nothing.
Carter Green
Buy things in crypto using those cards for them or trade directly into cash in person. Make sure you give up American citizenship first and preferably move to a country that won't rape your ass in taxes.
Bentley Moore
Nope. Bulgarian citizen and e-citizen of Estonia here. Taxes for locals in Estonia are not that nice at all, all that Estonia really offers is less bureaucracy for foreigners, who pay 20% dividend tax in Estonia + their LOCAL tax. Bulgaria literally wants 10% of your profit and you're done. However if you're not a citizen you'll have to register a company, and it's gonna bump the tax to 14.5% (5% dividend tax). And if you're an American citizen you owe taxes to your government no matter where you're located, so you're fucked either way. I think the proposed Trump tax reform fixes that, but you might need to wait for it to get into effect. If you're Canadian or British or whatever, Bulgaria is your best bet.
Nolan Miller
Open LTD in estonia and you will pay like 1% tax from crypto. Buy 10 bitcoin debit cards so you would ba able to withdraw 20k/monthly and Just pay to fucking tax office and let adults do the work
Nathan Sanchez
What country?
Cooper Cook
I'm not from USA. Also, I don't own a house or even a car. I've literally poorfaged my way to the top. If I bought a home in Portugal I would actual have more there than anything I've ever owned.
I have shit in too many wallets. Here's my gambling coins that sit on shittrex all day
Connor Wood
If he's American he can just give up his citizenship, provided he has family in another country and can get citizenship there by blood. But yeah, get rid of that shitty citizenship ASAP if you are that rich, it's not doing you any favors. American citizenship has very few benefits other than letting you live in the US without getting kicked out and getting taxed worldwide, why would anyone want to keep it?
Julian Cook
I think its czech. In poland we have tax for crypto 18% up to 85k pln (around $22k) and 32% above that so pretty sux
Blake Edwards
Czech Republic. Pretty comfy here desu.
Chase Hughes
Are you retarded OP asking /biz for help on this? Just go to a good tax lawyer and get real advice on that from a professional.
Angel Diaz
Thanks user. I'll look into Bulgaria
Caleb Taylor
Wow
Daniel Perry
he cant afford lawyer cause he is too retarded to cash out
Elijah Harris
Send me 1000$ BTC and I will believe you.
3QiyyiX3FhtAWHQfz5fXaBXjYUcPhghEkv
Camden Peterson
Just pay uncle Sam no way around it the unless you do localbitcoin but that's a pain in the ass. Buying shit with Bitcoin is different from cashing out but who wants to denouce their us citizen hire a tax attorney deposit all in bank talk to him and pay him before you get audited he can it lower than 48% I only paid 20% for capital gains that's it rest is a pain in the ass to do I tried it believe me l..
Cooper Kelly
Not from US. I should of put this in my initial post because I know how fucked your laws are
Daniel Evans
I only have .43 btc :(
Ian Jenkins
No freebies Pajeet. gtfo
Ayden Williams
Topkek, just shop at PWC or KPMG for a nice tax construction
Jeremiah Martinez
just cash out in philippines you nigger, 6% tax
William Jackson
>gambling coins >22btc I feel poor. Did you buy btc at 1 dollar?? or what?
Daniel Torres
Most def our laws with taxes are extortion and rape but coming out with 20% legal money is pretty good and the fact you get to live in America buy a lambo and have fun in LA
Dylan Nelson
Dude, it's fucking easy. You just transfer a your BTC to a wallet and declare that as BTC you mined a few years ago and forgot about. Ask the tax people what you need to do if you leave some in to speculate and what to do to withdraw some.
Pay what you owe and nobody gives a fuck.
Adam Smith
Can you hold cryptos in a self directed IRA?
Owen Miller
Avoid Europe all wealth will be confiscated. Some Caribbean Islands are known tax havens and the weather...If you still want Eurpo, look into Hungary, Poland, Czech or Slovakia, but Germany will BTFO them. If you like guns Poland and CZ way to go
Charles Morales
Not yet, too new
Jaxson Green
Nvm, just googled this. YES you can hold in a self directed IRA. Possibly buy and hodl in an LLC owned by the self directed IRA fund and work down the taxes from there. Create a charitable remainder trust and start getting your assets written off and basically tax free
Wyatt Kelly
bullshit
Aaron Powell
>Should of Almost certainly a fucking English illiterate cunt. You're an embarrassment to our once great nation.
In poland you pay 18% up to around $22k and 32% (in year) for crypto so not good at all
Henry Perry
this faggot doesn't realise if he's a burger he has to declare in usa regardless unless he renounces citizenship
Joseph Ward
>cares about grammar on a weirdo anime forum
This is why your mother never loved you
Aaron Williams
kek
Landon Allen
Start a little company and buy your own goods. You will only pay taxes based in your profit Also, you can buy "ART" or things with btc and sell them for 15% less, so you will not be charged for "used" goods
Xavier Hughes
>philippines is it safe? I keep hearing on the news about a lot of island terrorists live there
Adrian Johnson
See which country has the nicest prisons. Governments want your money and will get it one way or another
Cameron Hill
...
Brandon Hernandez
Ruler is hard core vs. terrorists. Muh bloody hands
Thomas Morris
Seriously a lot of people on here need to read this because taxes are confusing as hell and most people don't realize you can mostly avoid (((them))).
Chase Martin
1. You can't
2. Each purchase is a taxable event in most countries unless you're in a third world shit hole. Australia has a law that anything below $10K is untaxed but good luck buying a house or a car with BTC.
Adam Hernandez
...
Kevin Bennett
>anime forum what did he mean by this
Ethan Gray
1. exchange them for monero 2. make one transaction to an annonymous wallet 3. claim that you made after that some further transactions where you lost all the money that you have made
monero encrypts all transactions, thus you can lie as much as you want
Grayson Morales
Is Monero, dare I say it, /ourcoin/?
Bentley Baker
Unless you denounce your American citizenship. You pay us taxes on any income doesn't matter about what other country tax laws are.
Us. Just deducts that portion on the first 100k and taxes the rest.
Ian Reyes
>start a trust in cook islands or nevis or some shit >start three separate offshore llcs. the first under the trust. the second and third under the first llc >with the two subordinate llcs link- >a bank account in singapore or cayman islands to one >new exchange acc to the other >funnel all existing bags into monero/zcash and withdraw to llc exchange acc >cash out into llc bank account >any larges purchases use fresh new llcs
Nicholas Rogers
Hmm I think I have an idea that could work for a guy in a situation like yours but I'd rather not discuss it on here. Shoot me an email: [email protected]
Noah Lopez
this. much more believable then the boating accident meme. Believable because its habbening now. Bullish green text on how I lost and who stole my COIN
Andrew Green
>If there's even a hint of government intervention then I'll be balls deep somewhere in Asia Ah I see you are also a man of class
Henry Perry
Find a good lawyer who can advise you
Samuel Butler
>immediately starts begging btw this is now against board rules, so report this insufferable fucktard
Cooper Smith
...
Samuel Mitchell
For fucks sake cash out 15k and hire a bad ass tax attorney on retainer and get a serious tax accountant. Interview a few about crypto etc. derrrrp
Carson Thomas
It's not grammar when you get the word completely wrong, it's retarded.
Jackson Brown
w-w-whats wrong with getting my information from an anime image board
Easton Watson
>anime image board wtf I was told this is a german metalworking forum
Ethan Brown
Everyone knows it's a dick rate board.
Hudson Morgan
will you r8 mine?
Mason Bailey
Your grill told me it's a solid 4.
Carter Smith
How about hiring a fucking professional to plan your taxes instead of consulting these retards here, myself included.
Lucas Evans
>Your grill jokes on you, I don't have any
Luke Sanders
anons have better advice honestly these boomers don't know shit about crypto do you think they know what XMR is? that should be the #1 thing stated buy XMR retard boom, done
Anthony Rivera
>3 mil in crypto >doesn’t know how to tax evade Quit gambling on the internet with daddy’s money.
Tyler Edwards
So just go all into XMR on the night of December 31, and then transfer to an anonymous wallet?
Caleb Parker
why the arbitrary date?
Robert Robinson
Buy an investment property in St. Kitts, get citizenship.
Aaron Smith
The last day of the year, so you can reap any benefits of the coins you're currently invested in. What if one of your altcoin holdings ends up mooning? Might as well get in on that before you exit into Monero.