Can I quit my job soon?

Idk man, the deep state has this 'capital gains' tax. Gotta figure that shit out later. In the meantime, anyone got some mrmecoin suggestions?

>Transfer all coins into eth
>Transfer to coinbase
>Sell for fiat
>Withdrawl to bank

Not hard at all

enjoy paying 40% in tax to feed shaniqua and her 6 kids

...

Also, its worth mentioning I inherited a 2.5m property recently. All in on alts?

>not cashing out in fucking japan or some crazy shit

this, i already have my plan that if i make over 100k, to open a japanese bank account, and transfer coins to japanese exchange.

Coinbase reports this shit directly to gooberment, and big bank deposits arent going to go unnoticed.

if you decide to move to south east asia then yeah you actually can

Not a tax expert but wouldn't everyone be doing this if it were legal/feasible which I don't think actually happens

The difference is that crypto is an investment.

youll probably have to wait til end of the year -next year with that stack, Even then would 2mil be enough for you?

m8 have you heard of off-shore banking?
en.wikipedia.org/wiki/Offshore_bank
this is what millionaires and companies have been doing since their creation.
People do it all the time.

I have a Hong Kong bank account.

Correct. If you are a US citizen (and starting this year, the UK as well) you pay tax on all gains.

brainlet here I've heard of offshore but how usable would this money be? would I be able to pay for grocery, rent, etc while it's in an offshore or would I have to eventually move it to a domestic account in order to use it?

visa credit card is accepted world wide senpai.
get offshore bank, get a credit card with bank that allows international payments. this may cost more but youre a millionaire so who cares, cost less than 40% taxes.
Use creditcard where you go
boom bam

tell me more about your plan friend.

planning on getting married in japan soon, so i'm definitely interested.

>He doesn't know what FATCA is

interesting. Is this avoidable in countries that maybe, wouldnt comply with the US. I could see Japanese banks handing over information, but would a Chinese or Russian bank?

Almost. Hold out and wait for a 10x. The projects that will do it are obvious just like ada was.

Keep the marketcap over 100 million so you don't shift the price and get dumped on.

Also of you're in the US then hire someone to do your taxes or you will definitely get audited this year.

You know something else shitty about like-trade taxes?

Say you go from btc to ada and it doubles, so you report it and pay taxes on it. Then ada crashes the next day and your gains are gone.

Hodl. ETH going up like mad

Yeah, just go all in on a shitcoin. This is definitely not a bad idea. Nope.

I actually lost some of the ETH I bought before as I could not for the life of me find my paper wallet. Could have way more today. Sad life.

what if you're a poorfag and make little profit do you still have to do the taxes

in Canada it's only 13%

I’m going on a sightseeing trip to Japan in feb, how feasible is it for me to start trading then cash out in Tokyo or something? Will I even make enough to make it worth it?

Multiunit?.. Sell that shit as you should have a step up in cost basis and use the funds as a down payment for a 9-10MM multiunit or even two 4-5MM in different areas.

General rule of thumb with investment properties is that your annual rent roll should equal 10% of the value at purchase for a good buy. Current tax law makes investment properties extremely advantageous, this is how old money builds and maintains wealth.

Yeah.

Make a lot of gains so you can hire someone.

People. Let me tell you two things -

A. Keep your job, either use that money to buy yourself a comfortable place to live or better yet, invest it
B. Don't evade your taxes. Accuse me of being an IRS agent all you want, but you don't want to be thrown into prison for Tax Evasion, trust me. Better, smarter men than you have tried and failed. Just pay your fucking taxes and get it over with. Your mental health will thank you too.

Um no, even old people are generally suggested to have at least a million dollars to retire cheaply

This is dumbass logic for people who plan on keeping it all in fiat like dribbling retards

Some of us don't live in burgertown and don't have to pay taxes on any cryptocurrency gains, lol.

And that's wonderful user. I was specifically talking to my fellow burgers.

How do I record all my buys/sells for tax purposes?

"I don't need more because I'm going to get rich off crypto" haha retard

Look $300k is nice but I make that in like 2 years of STEMcucking. If you want to make it you have to work in addition to invest. You can't just invest and expect to make money. You're supposed to work and invest. Retard

>implying i just wouldnt leave america.

Do you smoke crack? That's the sales tax. Capital gains get taxed according to your marginal tax rate.

it's 2018 dude

>quitting your job
dont do this
put every paycheck into crypto

You don't have enough capital to retire.

Whatever you do, pay your taxes when you plan on cashing out. IIRC, it's a 40% cumulative fine for evading taxes & fucking up your tax return. HODL for year since your last trade to incur 15% (or whatever) for long term capital gains tax.

bitcoin.tax makes it pretty idiot-proof. Enter in the exchange API(s) info and let it do it's thing.

gotta invest in an ICO that's gonna explode, OP.

magnalis.network

>30 cents right now
>$10+ in June Guaranteed

don't miss the ship

only if you cash out everything into btc

Yeah you can quit your job if your job is trading crypto you retard wtf RAIBLOCKS? Im suprised trx isn't up there.

I think you are retarded. His whole folio is ETH you autist.

buckle elli strizelli