If you have an annual income of less than 39k, you pay 0 in capital gains. Get fucked normies lmao. Cash out 48k a year in link, and its taxed at
0%, then for any larger purchases just use a personal, undisclosed wallet and barter with USDC or Link. Fucking ez
Tax Dodge done easy
Alexander Lopez
Jack Nguyen
Do people in the military have to pay taxes since tey only make like 20 a year?
Isaiah Brown
Wouldn't cashing out over 39k mean you'd pay taxes on 48-39 = 9k?
Jonathan Lopez
>What are standard deductions
Brayden Parker
Im just telling you what this shit says lol
Luis Johnson
this is not true.
smallest tax bracket is 18,200
you get a 50% discount on your capital gains if you held for more than a year
Wyatt Wright
ty, knew I was missing something.
But the SD is 12,200 so why didn't OP say to take out 51k, oh well whatever.
Mason Long
Smollest braket is 40k for burgers
Lincoln Reed
cashing out to fiat modifies your AGI. so if you your normal income was 30k per year at some shit job, and you had a 20k net capital gain, you would pay 0% on the first 10k of that gain, and then 15% on the next 10k, for a total capital gains tax of $1500.
Daniel Campbell
Untrue. An E1 makes something like that but as you federally wagecuck up to E4 and above you start earning non taxable income like BAH and BAS. If you’re a flyer and/or earn special incentive pay and you’re stationed in the right area you can make like 60g/y as an E4 which unfortunately is only after 3 years in.
Connor Miller
According to that if I have no income I can sell $37,400 worth of link a year (assuming I paid $1,000 for it) for 0 taxes a year.
And I can sell 80k of link per year that I paid 2k for with only paying 4.2k in taxes, not bad!
Blake Howard
Aye, the whole
>REEE PAY TAX
Is unironically just sergey trying to get you to ironhand harder, which actually isnt not too bad an idea.
Hudson Cook
and if you ever made capital losses you can carry them forward to reduce future years capital gains
Chase Powell
Ya I don't plan on selling any link until I'm at a position where I never have to work again so these low capital gains if you're not working is awesome.
Although now that I think about it all the money I'll be making from steaking will bump me up in tax brackets, I assume that is treated just as income?
oh well..
Zachary Howard
Ha! I knew there was a reason I bought Ambrosus!
Jacob Stewart
Thank you
Henry Evans
Based senior airman
Landon Morales
No, it would only be counted as an investment, unless you are receiving your staking rewards as USD
Josiah Myers
تكبير
Jack Reed
Absolute retard your cap gains counts as income holy shit this board
Benjamin Adams
>added to income
>taxed at lower rate
>if income is 0-40k
>then tax at 0
You dont get taxed twice you absolute moron
Ethan Clark
I'm looking at a capital gains tax calculator, and it is saying that if you hold for more than a year, it is not taxed as income, so I believe you are right. The calculator posted earlier in the thread is for Australia
Lincoln Perry
No you stupid faggot. Your BAH and BAS is not reported to the IRS. It is not included. You only pay taxes on your base pay, which is usually under 40k until like E-6 with some time in. Even if you were stationed in san fransisco and recieved $3500+ a month for BAH as an E-4, you still wouldn't "make more" than $40k a year. If you've been reporting your allowances to the IRS, you fucked up user.
>t. E-5
Ian King
I make too much money. Could you give the coins to someone you trust and have them cash them out?
Dylan Ward
Probably, but wash them first
Colton Bell
You could probably start a (((tax))) service in an inner city or some shit, then just use (((underprivledged))) poc to file taxes, assuming they are unemployed. Basically every 10 tax accountants you hire could clean 400k for you. So just go and get them like 500 dollars or some malt liquor for compensation, xfer the shit to their account, and your last step would be to find a way to get the shit back to yourself, which should not be too hard. Ju
Luis Jackson
omg capital gains is so low if you're not working, I might keep my US citizenship after I move overseas to NEET after all!
Brandon Watson
>trusting youths with bright futures with your money
I'd rather give it to the government.
Nicholas Flores
>internet meme money moons
>don't want to pay taxes on it though
>convert to stablecoin
>cash out the max amount each year that doesn't require paying capital gains on it
>???
>live comfy off your meme money trustfund
is this correct?
Gavin Ortiz
Requires you be a neet thoI mean you dont have to do it in a safe space. And you could likely do it in a place that doesnt have transparent banking laws if you want to be tryhard desu. Set a company up in Caymans, appoint yourself CEO of RayCism, Use company funds from first round of funding to buy corporate house, rent it to yourself for 1 shekel/ year, buy company yacht etc.
Sebastian Moore
Where did I state that I was reporting my BAH and BAS to the IRS? I stated that it is non taxable, which should already imply that you do not report it to the IRS. Because I receive additional 1250 incentive pay a month, my annual income for tax purposes is ~45k. I’m not sure why you’re sperging out.
Gavin Long
mb meant to say this
Asher Howard
>Requires you be a neet tho
True, but in this scenario, you got a bunch of money from crypto and are now wealthy enough to not need a real job anymore. Retiring early and being a rich neet is kinda the goal
Blake Garcia
Seems to good to be true, the longer you don't sell your link the better your tax positioning. And the steaking returns are counted as cap gains not income because they are paid in link..
Brayden Martin
imagine being american
like jesus christ, i feel bad for american marines
Anthony James
The other option is to create shell company in tax benifited area, donate your money to it, then use shell to buy shit for you elsewhere, etc.
Kevin Myers
After reading this thread it's actually not that bad, especially when you take into account the massive earning opportunities here as well as the relatively low income taxes when working.
Camden Gomez
Do you still have to file taxes at all of you are under that?