How the FUCK do I avoid taxes...

How the FUCK do I avoid taxes? I currently have nearly $1m in long term capital gains from crypto that I have yet to cash out. So at the most, I'll have to pay 20%

How do I pay LESS?

If you're not larping and actually have a 1mil you can easily afford the lawyer/account necessary to set up the legal loopholes needed to avoid paying taxes.

Don't try to just hide your earnings from the IRS in some DIY manner, you will get caught.

Yeah, I meant legally.
I don't really wanna pay for a (((lawyer))) because I don't know how effective they'd actually be in helping me avoid enough taxes to justify their cost.

Wat coins made u close to a millionaire and how long did it take you

Lawyers aren't stupid. They know you won't pay for their services if their service is more than the tax you're trying to avoid. The shitty answer is if you want to do this right you'll have to go to an (((accounting firm))) and get them to set everything up. Plus they usually walk you through the process and give you a list of options and let you pick what you want.

Seconding this. You gotta outjew the jew user!

ponzicoin :)

Is it generally possible for most people to be able to avoid a significant enough amount of of taxes to pay for consultation from an (((accounting firm)))

i.e. Is there a stipulation that they will save me more than they cost, or I can just walk away?

Send me the money, I'll hold it for you and give it back after you file your taxes.

Just sent 100k. I'll need that back in a year

On 1 mil it is a no brainer, although I find it suspect that anyone with that kind of cash wouldn't have exhaustively researched this already. This reeks of late.

enjoy your NIIT

that will be 23.8%, thanks Obama

Um, from my knowledge, you don't have to pay any capitol gains until you SELL the coin... if you bought the coin(s) at 10k and it's now 1mil, but it's still in the coin (without any sales or trades) then you don't have to pay anything.

If you bought and sold and bought and sold and day traded, yes, you owe on those gains at the time of sale.

reeks of late what?
it's not cash yet, I'm doing my research now before I sell and it becomes subject to taxes

Daytrading is where most people fuck themselves

Yes, that's why I'm trying to find methods to lessen my tax load for when I DO sell.

You don't pay taxes until you REALIZE you gains.

You realize you gains by either converting your coins into other coins (good luck to the IRS tracking all that shit down) or when you convert your coins to fiat (easy for IRS to see).

Just because you have 1m doesn't necessarily mean you owe anything. Pay your taxes when you exchange for fiat and if you want to be a good boy, pay when you trade for a new coin. Otherwise, let it ride.

Quit your job, take out only $36k per year, pay 0% taxes.

Wow cool i can be poor for 28 years thanks

I think he got autocorrected on larp. Reeks of larp.

buy gold directly with your coins. (((guildhall))) will gladly take your btc for (((precious metals and JEWlery)))

Yes I'm talking about when I cash out.

Even if I'm larping (i'm not), I still posed a legitimate question.

Ok, Take 50k out and pay 15% on 14k. Or take out 100k and pay 15% on 64k.

Why do you want to take it all at once? Unless you think crypto is dead soon. Take out what you need to live and let the rest ride.

xoinxo.com is doing a good job for me so far

I gotcha, yeah, then you owe man.

I know the way I've done my taxes is by incorporating. (I have a job where I freelance edit videos in tv/commercials and make about 150k-200k a year).

This is not a bad idea, but it's hindsight right now. You can write off basically whatever it is your 'business' does: part of your rent/mortgage, utilities, car payments (if leased), gas, etc. Helps with taxes, but it's a pain to set up. If you continue to day trade, it'll be worth it to see a tax lawyer/accountant that can help set you up. A jew one of course.

Just try to pay for everything in crypto.

You don't cash out.

Use your bitcoin(cash) to buy the goods you need, set up deal with an interested landlord to use bitcoin to rent a nice house, use bitcoin to rent your yacht, lease your Lambo long term paying with bitcoin, get fiat in paper notes from carefully selling on local bitcoins.

The tax department can't do anything to you if you have no assets for them to "attach" their fines to. If you really suck at being a business man and jealous normies/wife sell you out to Tax Dept, then at worst you might see the inside comfy low security prison for a few days (if you refuse to leave the country)
You're set for life, now just make use of it in a smart way that is good for you, and good for your fellow free men. Enjoy.

Leave the church.

The problem is I'd prefer to own a home and a car.

IRS ALERT!!!!! (((THEY))) ARE TRYING TO FIGURE OUT HOW (YOU) HIDE YOUR EARNINGS!!!

Start a business, Report $1mil in expenses, Pay little to no tax. Theres tons of way to report expenses that fall under the legal 'gray' area. This is especially easy for cash businesses.

>Coming to Veeky Forums to figure out how to properly manage over a million dollars.