I really need help Veeky Forums

I really need help Veeky Forums.

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?

What are my options here?

Other urls found in this thread:

money.cnn.com/2017/12/15/news/economy/gop-tax-plan-details/index.html
irafinancialgroup.com/self-directed-ira-bitcoins-cryptocurrency-ethereum-classic-litecoins-coinbase-virtual-currency-ira.php
twitter.com/AnonBabble

Bump.

Has anyone done a dual-citizenship to cash out?How do you hide your wealth?

You don't have to hide larps

He said hes not a larp

Just buy things with crypto what’s the problem OP. Isn’t that the whole point.

I wish I was larping. I think I'm just going to get ass raped by the tax man

>no idea what a golden visa is
>look it up
>you're basically paying to become a citizen

wuuuuuuuuuuuuuuuut that's pretty crazy

Bulgaria is the best country in Europe to do this.
Only 10% flat tax.

48% taxes are my problem

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.

I hear Estonia is good too. But Portugal seems like the least shady country

Ummm I will be paying tax (in Portugal). This is not illegal, just minimising the damage.

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.

Prove that you're not larping or fuck off.

>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.

withdraw a bit of money*

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.

I'm curious, why are you deciding to cash out right now?

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.

Just marry a Portuguese lady, or are you a kissless virgin?

This.

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.

>Always leeched, never contributed in his life
How do I continue to steal like a nigger?

Well, taxation is theft, so I would try to minimize it too. And I'm a hardworking chink

Prove. That. You're. Not. Larping. Faggot.

>5219404
>5219404
>5219404
>5219404
>5219404

You Will get more than 1,5 million, thats not bad at all... Pay a good lawyer to follie the process.

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,

Follow

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.

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.

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.

Details number 13 & 14 here
money.cnn.com/2017/12/15/news/economy/gop-tax-plan-details/index.html

You can live comfy in Portugal with much less. The average income there is pretty low from experience.

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.

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.

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.

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

What country?

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

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?

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

Czech Republic. Pretty comfy here desu.

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.

Thanks user. I'll look into Bulgaria

Wow

he cant afford lawyer cause he is too retarded to cash out

Send me 1000$ BTC and I will believe you.

3QiyyiX3FhtAWHQfz5fXaBXjYUcPhghEkv

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..

Not from US. I should of put this in my initial post because I know how fucked your laws are

I only have .43 btc :(

No freebies Pajeet. gtfo

Topkek, just shop at PWC or KPMG for a nice tax construction

just cash out in philippines you nigger, 6% tax

>gambling coins
>22btc
I feel poor.
Did you buy btc at 1 dollar?? or what?

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

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.

Can you hold cryptos in a self directed IRA?

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

Not yet, too new

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

bullshit

>Should of
Almost certainly a fucking English illiterate cunt.
You're an embarrassment to our once great nation.

irafinancialgroup.com/self-directed-ira-bitcoins-cryptocurrency-ethereum-classic-litecoins-coinbase-virtual-currency-ira.php

>you have homework to do

In poland you pay 18% up to around $22k and 32% (in year) for crypto so not good at all

this faggot doesn't realise if he's a burger he has to declare in usa regardless unless he renounces citizenship

>cares about grammar on a weirdo anime forum

This is why your mother never loved you

kek

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

>philippines
is it safe? I keep hearing on the news about a lot of island terrorists live there

See which country has the nicest prisons. Governments want your money and will get it one way or another

...

Ruler is hard core vs. terrorists. Muh bloody hands

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))).

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.

...

>anime forum
what did he mean by this

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

Is Monero, dare I say it, /ourcoin/?

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.

>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

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]

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

>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

Find a good lawyer who can advise you

>immediately starts begging
btw this is now against board rules, so report this insufferable fucktard

...

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

It's not grammar when you get the word completely wrong, it's retarded.

w-w-whats wrong with getting my information from an anime image board

>anime image board
wtf I was told this is a german metalworking forum

Everyone knows it's a dick rate board.

will you r8 mine?

Your grill told me it's a solid 4.

How about hiring a fucking professional to plan your taxes instead of consulting these retards here, myself included.

>Your grill
jokes on you, I don't have any

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

>3 mil in crypto
>doesn’t know how to tax evade
Quit gambling on the internet with daddy’s money.

So just go all into XMR on the night of December 31, and then transfer to an anonymous wallet?

why the arbitrary date?

Buy an investment property in St. Kitts, get citizenship.

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.