How many ways can you avoid paying tax on crypto? I understand tax is needed for infrastructure but the amount we are obligated to pay is downright theft
How many ways can you avoid paying tax on crypto...
"its ok for other people to pay taxes but me? psshaw"
>falling for the 'muh public infrastructure' meme
taxation is theft, the sooner you get that through your head the better
we already pay property tax, income tax, sales tax, literally everything is fucking tax, even health care tax!
yea so what are some ways? im fucking sick of this shit. I have to pay a tax for not having healthcare every year. are u fucking kidding me?
don't forget about the cash you do keep to spend.
everything you buy is taxed too btw.
>This nigger thinks taxes go for infrastructure. how cute.
tax is tiered my nigger. state/city tax does pay for infrastructure
Right but if you pay federal your a fucking sheep.
how do i hide crypto from sam
Live in the UK, don’t mind paying tax. I see it in the great healthcare, schools, infrastructure and local facilities.
Go to a darknet market, buy an ID pack. Register for a prepaid crypto debit card using a stolen ID from some shithole country and use that whenever you need to convert to fiat. Same if you need a verified account on an exchange. To launder crypto tied to your real ID, use monero. Ezpz
>How many ways can you avoid paying tax on crypto?
Many, very many. Only losers pay taxes. No actual rich people pay taxes, or if they do, it's 10% of the original amount.
>Briefly move to a country that doesn't tax crypto
>Report a bogus crypto investment i.e. you bought some shitcoin that pumped 2000%
>cash out, pay 0%
>come back home
>move your crypto through privacy coins
>report your crypto as stolen
>cash out to an offshore bank, i.e. HSBC Hong Kong
>buy art anonymously, i.e. a Van Gogh painting
>send art to yourself as a gift
>Report that you bought BTC at Mt.Gox and put them into cold storage
>Pay long term capital gain tax for a single transaction at a huge discount
Start a business. Claim crypto gain as business income. Make bogus ‘reasonable’ expenses on your retain. 50 to 80 percent of gains. Pay tax on rest. Examples of bogus expenses. ‘Consultation fees’, business trips, meals. Buy personal stuff as business inventory. Learn how to make fake invoices and receipts. Trick is to not get too greedy and fly under the radar.
fuck yes keep them coming bros. fuck uncle sam and his nigger loving fingers
move to a tax haven user, most of these ideas won't work
>implying the IRS already doesn't have bots scanning every movement of every wallet that could be directly or indirectly related to american citizens.
stay cucked americucks
just pay your taxes lol
inb4 someone posts the Puerto Rico meme
You have to be a bona-fide resident of PR for 10 consecutive years to sell your investment under PR's tax rules, otherwise it gets taxed the same as if you sold in the US.
Yeah, and I see it in all the low class white trash inbreds, Jamals and Ahmeds breeding like rabbits to claim benefits
Just pay your taxes user. You don't want the system to fail do you? Who's gonna pay for Tyrone and Pablo's kids?
>state/city tax does pay for infrastructure
That's not how governments operate you dumb brainlet.
Every, and I REPEAT, every government runs on debt.
Every country's government sets up an annual budget, this budget is split into different sectors like the military, healthcare, education, pensions, infrastructure etc.
Now, how do they get that money for the budget? They print it.
When a country prints money it creates bonds AKA IOUs and sells it to financial institutions or other countries.
But why would other countries/companies buy these bonds? What are these bonds backed by?
These bonds are backed by the country's ability to collect taxes from its citizen.
Taxes are the source of income of countries. If countries aren't able to properly collect their taxes, then the rating agencies will lower their rating from let's say AA to BBB or even worse.
And once ratings drop, the country is forced to pay more % for their bonds.
That's why countries are so eager to collect taxes from citizens.