Guys I need advice on cashing out large sums of money via usd.
Depositing more than 10k will result in banks contacting the IRS. Now I have absolutely no intention on trying to work around the system.
If I were to make a lot of money from cryptocurrencies should I just go ahead and deposit a large amount, allowing the banks to contact them? I am hoping that they would just find out where I got the money from and they would do the math. Foolish thing to do? Probably.
Nice try Bill, maybe next time you'll get the corner office.
Just found an unknown page (0 follower, 0 like) for you normies : buy high sell low, it's your life
Go on facebook then add "/buyhighsellow/"
Pretty please
just kill your family and then go to prison and get raped and enjoy eating turds and loads every day you jewish dragon molester.
Buy gold and silver instead of putting money into some kike ass bank faggot.
Just cash out. They file paperwork with if it's over 10K but that is just to catch money launderers.
They are going to check the source of the money, see its crypto related and promptly ignore you until after tax season because they will expect it to be part of your tax return.
May you have gains for decades. Much appreciative.
Please stop being autistic. Pick up the phone call the bank or wear a suit and go there. Explain the situation to then so they dont freak out, get to know them.. For bonus points ask if you can talk to then about this over coffee/lunch.
You're too,wealthy to be an autistic pleb anymore. You might look like a fagggot but if,you've made serious crypto gains then your a financial chad.
There is a loophole.
Put whatever money you want in Crypto. Don't cash out. Use SALT to exit. Take a loan against your crypto money. Loans are tax free. Then you get your crypto back later.
It's a win-win if your collateral goes up in price also.
So any of you ever heard about offshore banking?
File a corrected statement for the reporting form, if procedes are not connected to usc 26 a 26
Holy shit.. maybe this is the real point behind salt
This.
wont work, you need to prove your credit worthiness to the bank to get a loan (IE that you have lots in crypto) which the IRS can then subpoena when they start looking into you
Look. Are you a NEET? If you don't have an income then your long term capital gains tax rate is 0%. If you don't work then you can cash out your $10m crypto stack and not pay a fucking dime.
Just pay your taxes
Thanks,
Officer Pajeet
The bank is not going to freak out or care. You are the autismo here. Going to the bank would be weird. Just cash out
just pay your taxes on your free money, it's not that hard. You can write off most of you hire a good CPA.
If you hire a good CPA they will write off enough of your taxable income to pay for the CPA several times over. And on top of that you're a lot less likely to get charged with tax evasion if you get audited, which you will. Some CPA's offer audit insurance and it isn't that expensive. I suggest you buy audit insurance if you have a good CPA.
>We hear you have lots of cryptocurrency, how much exactly?
>OOPS GOT HACKED
>sorry to hear that you got hacked
>that'll be 100k in taxes
Funny.
I always do my best to make deposits go over 10k just to give the bank and fbi more paper work!