Burger tax question. Does pic related mean that if I only sell $39...

Burger tax question. Does pic related mean that if I only sell $39,999 worth of my LINK stack every 366 days I pay no taxes whatsoever? I live in FL so no state income taxes. Is it really possible to live completely tax free and comfy? I though the only certainty was death and taxes.. have I found the cheat code?

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You actually have.

Glorious. Why doesn't every body do this? Are they just all retarded?

Everybody under 40K does this already

I take it back, since we're talking about LINK, and only fucking retards sell LINK

Then why does everybody bitch about taxes so much? 40k a year is close to the median wage. If you count the fact that you get to keep it all it essentially is the median wage. Why aren't people singing this shit from the mountain top. You can basically live in America and pay no income tax on a decent income. Is anywhere else like this?

Most people have to pay rent. I make a shitton of money with bizarre side hustles. I have a few gays I met who sniff my feet for 100-300 cash a pop. I just go in and they sniff my feet. Whatever. I don't even care.

Most people aren't holding long enough to qualify for long-term capital gain taxes.

99% of people are too stupid to actually know what taxes do and how they work thanks to countless years of propaganda. Just look how pissed retards got that Trump didn't pay taxes (even though everyone who cried lies on their taxes, claims extra deductions, etc...)

Bonus mode, try to find the way you can still pay 0 taxes and make billions (hint, real estate is one of the easiest)


Also get a Jewish accountant. Jews are great at taxes. Just make sure you have a second accountant to check everything because Jews are liars and can't be trusted

LT capital gains tax isn't the same as income taxes or payroll taxes or ST capital gains tax. People who wage for a living have to pay a fuckton of taxes to the system and get a little refunded.

You're in a special category because the system isn't built for internet money and people who hodl indefinitely long to get the most out of it, no one ever expected LINK.

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Keep in mind it would include income from your job. However, if you have no other income, you're correct that you could just sell under the threshold to not pay any taxes.

Not gay question: does this apply to raw income or does only capital gain income count to the 40k

>I have a few gays I met who sniff my feet for 100-300 cash a pop
Based side hustle but I uh probably wouldn't report that. Don't wanna have to explain it in an audit
>Most people aren't holding long enough to qualify for long-term capital gain taxes.
All they had to do was buy the March dip. That easy not even counting my LINK and BTC. I'm going to just let this grow and like I said, sell $40k a year and live ultra comfy and tax free. Life on easy mode.
>However, if you have no other income, you're correct that you could just sell under the threshold to not pay any taxes
Based. I'm confirmed NEET who got lucky with internet money and random stock picks

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Only capital gains. Like if you buy some stock or crypto for like $1000 and it moons hard so you hold it. After a year you can cash out $40,000 tax free. Then you can do that every year or maybe 366 days I'm not exactly sure

It works on Calendar year (tax year). You could do 40k Dec 31, 2020 and not have any other income and pay no taxes, and sell another 40k Jan 1, 2021 and not have any income for the rest of 2021 and pay no taxes for that year.

Based. Good point. This has been a very informative thread frens. I hope you all make it

>Why doesn't every body do this?
most people probably want more than 40k per year

I can't even imagine what I'll do with that much. I just want to fuck off and play video games and shit. I already upgraded all my shit and I already own the condo I live in and car is paid off so I can't even think of anything else to buy. Probably hookers

>I have a few gays I met who sniff my feet for 100-300 cash a pop.
god please live in toronto

My capital gains for the year will be about 10k from defi shitcoins. I also have a job that will pay me a total of about 45k this year. I will be above that bracket for capital gains IF I cash out. This is much more common than 100% capital gains.

explain me captain kike tax in australia pls

That makes sense. I guess it's why people don't just talk about capital gains in isolation much. I guess I should be grateful sounds like a nice problem to have

>explain me captain kike tax in australia pls
I'd be very interested to know what the situation is in the other 5 eyes countries. I know Canada has some special tax free trading account which I am jealous of. Not sure about the rest

Yeah that's why I'm not cashing out. Just sitting on them stable coins. I'll do it when either my income goes up or down. I already pay enough taxes, kek

> "Why doesn't every body do this?"
> Your Income: $0-$40,000
Sorry, I'm not poor.

The 40k is just what you cash out every year. You can still be compounding massive wealth by holding your LINK, BTC, TQQQ, what have you

you will be once we, the people, elect joe biden, and he raises taxes on your rich ass. time to pay your fair share.

Because having an investment 100x and be something you could live off isn't particular normal

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If you make 30K annual salary from working than than only 10K of your long term capital gains rate is taxed at 0. It takes in account all your income first. If you don't have a job then yes its legit as fuck. I'll be able to live off of Uniswap and various stablecoin liquidity pools with like 400K bank taxed a 0% rate. They can net 12-22% APR in some cases. I might have to hold the asset for 1 year outside of the LP not sure. Either way I should be able to get nearly 0%. Its tempting to just put the profits in CRO or something similar as well. Lots of options in the future. Even crypto backed USD loans which would be tax free since they are interest bearing. If you are married its nearly 80K as well.

I'm a gay and i live in north york want to meet up

oh look you got a new customer