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1901  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 29, 2021, 05:41:15 AM
@suchmoon seems to know a bit about this (disclaimer: anyone here can be anything or nothing so take none of this as formal advice, more enhanced bullshit)

Yes... "talk to your CPA" should be implied in everything posted here about taxes.

* Note you would still have to pay FICA and Medicare taxes on that income, but I don't know if those taxes would be taken out of earnings before or after for the purposes of computing the full 80k CG tax break.

AFAIK those are not taxable so yeah.

Now for even more fun: If you "turn out the goods" (IE have your spouse work) can *they* also contribute a max of 19500 to a 401k plan? If so...

There is this thing called solo 401k, which you can have if you're self-employed. So... what if your spouse is self-employed as a Bitcoin seller. Or maybe you can do the same. There are probably some interesting things that can be done with that.
1902  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 29, 2021, 03:48:58 AM
If on Jan 1 you redirect 100% of your salary to a 401k, then quit once you hit $19500 (the 401k limits), do you still get the whole 80k CG at 0% rate because the 401k was a "top line" (before AGI) deduction or is it based on total income?

It's based on taxable income. There is also standard deduction ($25k if married) so technically I guess you can make close to $50k and still pay 0% on CG.

Is health insurance paid for by CG profits deductible? Since Health insurance is another top line deduction can you work an extra few weeks for that money and still get the 80k 0% CG tax rate?

Non-employer health plan payments are not tax-deductible (unless you itemize, which you wouldn't in this scenario).
1903  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 29, 2021, 03:28:18 AM
Unless i completely misunderstand their "slang" it appears that you could be taxed differently for reg income and for cap gains.

That's correct. I may have misunderstood what you were saying in the post I quoted.

So yes, the rates/brackets are different between regular income and cap gains, but cap gain rate depends on total income, not just on cap gain income. IOW regular income can push you into a higher cap gain bracket. Cap gains can't push you into a higher regular tax bracket. But there are other hidden costs (e.g. higher total income may affect eligibility for some retirement contributions).
1904  Economy / Service Discussion / Re: Best practices for Bitcointalk escrow providers on: December 29, 2021, 03:11:21 AM
In the event of a dispute, it will be up to the buyer and seller to provide as much evidence as they can to prove they are in the "right" and that the other party is in the "wrong". This may include providing video evidence of packing the box the item is being shipped in (or in the case of the buyer, of opening the box the item was shipped in). Other evidence may include photos of the item that is claimed to have been received.

This won't work if one of them is a scammer. Seller can have a studio-quality single take video of packing a $5000 widget and then ship a brick off-camera. Buyer likewise can open the package on video and "find" a brick, after previously removing the actual item.

If you ever resolved any disputes based on this type of "evidence", chances are that you helped a scammer.
1905  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 29, 2021, 02:58:56 AM
afaiu, LONG term cap gains are different from income, but who knows.

In the US the federal long term cap gain tax rate depends on the total income. It can be 0, 15, or 20%.

Then there are state taxes, somewhere between 3-13%, although there are few states with 0%.
1906  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 28, 2021, 07:38:54 PM
Guys, let's all take a moment of reflection for Bill Gates. He's had a really rough year...

Yeah, inflation is gonna eat his billions. Should've bought bitcoins when he had a chance.
1907  Other / Meta / Re: @theymos - Request: Multisig addresses for treasurers on: December 28, 2021, 04:18:22 PM
I didn't know that either (even though I recently visited that page, but didn't read everything).

Removing 2 at a time means there was no redundancy left if they both wouldn't cooperate.

I checked it because OgNasty was recently attacking theymos and minerjones so I figured there must be something going on. He's very childishly transparent like that.

There was an incident with minerjones being very unhappy with some spam not being deleted on the Collectibles board. Not sure about the timeline though. But this kind of loss of trust surely isn't good for this type of multisig setup.

Og's removal is not surprising albeit long overdue.
1908  Other / Meta / Re: [HELP ON REFUND] WRONGLY SENT $1000 worth of BTC to copper member payment addres on: December 28, 2021, 03:41:33 PM
Astonishing, and you got some rewards for being who you are which is highest merit per post ratio which is 55:1 if I am not wrong. Smiley

~$4 per merit, money well spent.

I'M KIDDING! IT'S A JOKE!!! $4 is too much for a merit, you guys gotta send more merits.

As for my reaction to the accident and returning the money, tbh and I really mean it, I didn't expect people on this thread to be surprised by my action!

This forum is brimful of scammers so your action stands out and that's a good thing (your thing... not the scammers). Too often we take honesty for granted but discuss fraud and lies and other garbage at length.
1909  Other / Meta / Re: New child board idea - Notable Twitter Threads on: December 28, 2021, 03:30:10 PM
a spam fest and a flame war
Now that would be a popular new board Cheesy

Kinda redundant, we already have Meta.
1910  Other / Meta / Re: @theymos - Request: Multisig addresses for treasurers on: December 28, 2021, 03:18:52 PM
I might have missed the announcement so I apologize if it's old news but it looks like OgNasty and minerjones are no longer treasurers:

The "T19 multisig" is a 3-of-5 multisig between theymos, achow101, SaltySpitoon, hilariousandco, and DarkStar_.

Edit - just to clarify because the quote makes it look like this happened in 2013: funds moved to a new address in April 2021, the thread was last edited on October 29, 2021.
1911  Other / Politics & Society / Re: I need to get something off my chest about our society on: December 28, 2021, 02:42:41 PM
Not sure what you expected... NFTs are not about art, just like shitcoins are not about coins or money, and DeFi is not about finance or decentralization. It's just a new method to separate the gullible from their money.

Granted I know nothing about how art really works but perhaps you can build up your portfolio and eventually land a job doing chintzy ads to pay the bills, while doing art that you like on the side. Remote work opportunities these days are better than ever so living in a poor country shouldn't hold you back if you're really good at it.

1912  Economy / Gambling discussion / Re: 🏈🏈 The American Football Discussion Thread 🏈🏈 on: December 27, 2021, 08:18:09 PM
Anyway, I'm not sure if reaching the final means I'm winning or if I'm just being sacrificed to realm of utter embarrassment.  But I'm not bitter, if by some miracle I win this thing beers are on me.

It's a fine line between being the winner or the first loser.
1913  Economy / Gambling discussion / Re: 🏈🏈 The American Football Discussion Thread 🏈🏈 on: December 27, 2021, 05:51:24 PM
I'd have to score 100 points for you to lose by 100 😅.  I was in another league with some folks here this year and the same thing.  Team completely fltlined.  Had tyreke hill and he gets 20 something yards recieing.  And Robinson from Jax went out injured after 10 yards.  Roll in dalvin Cook getting sidelined and poof year over. 

Next 2 weeks ima rip it up though!!

You still have Taylor who surely has a couple of 5xTD games left in him, and Colts will be fighting for the division title so no rest for him.

I think I'll keep my team without changes (unless there are injuries or other outs) across both games. Fiddling with the roster didn't really work out for me, should have trusted my best players and not moved them around because of a strong opponent or any such nonsense.
1914  Economy / Gambling discussion / Re: 🏈🏈 The American Football Discussion Thread 🏈🏈 on: December 27, 2021, 05:22:13 PM
Yeah my team was brutal over the last 2 weeks.  Worst 2 weeks of the year in points for me.  That's how the ff cookie crumbles!  Good luck to the finalists, moon corners it's all for bragging rights now!  Lol

Oh it's on. I will fight to the end to make sure I don't lose this match by more than 100 points.
1915  Economy / Gambling discussion / Re: 🏈🏈 The American Football Discussion Thread 🏈🏈 on: December 26, 2021, 08:24:14 PM
LOL yeah this is making very little sense right now that the Vikings of all teams have held stafford to just a few yards and 3 interceptions, just crazy. In other news, watching this Buffalo vs New England game ? I know it’s not over but I believe my intuition was right that Buffalo is the better team. I guess even if they win it’s still tied up one game a piece, guess we shall see how the playoffs turn out!

Yeah Bills are doing well but I'm watching Texans beating Chargers, the most overrated NFL team.
1916  Economy / Gambling discussion / Re: 🏈🏈 The American Football Discussion Thread 🏈🏈 on: December 26, 2021, 07:52:44 PM
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1917  Economy / Reputation / Re: Bitcointalk Charity and its funds on: December 26, 2021, 04:11:41 PM
So, just because this wasn't an entity, some big charity organization, they have the excuse not to track everything that they do. How serious is that, especially when you handle others' money for a cause? Keeping a simple excel and a small box of candies to put all the receipts that you will get, needs an accountant or removes the term "spontaneous" or by being spontaneous you lose the seriousness? Besides, they started by keeping things in (some) order but suddenly, forget to continue it. There is a magical way to forget to do it, at some point?

Was there ever an itemized list with receipts, like we're expecting now? I skimmed through the thread and I didn't see it. There as sporadic reporting of activities. Whether that's enough should be up to people who donated but I think they should have asked about it much sooner if that was a concern.

Here's the rough timeline involving the 1 BTC donations:

  • Charity starts in March 2019.
  • 1 BTC is donated about a year later (May 2020). It would seem that the charity had established a track record by that time and someone sending them 1 BTC is a serious endorsement. The charity had handled a total of ~0.1 BTC by that time.
  • If that's not convincing, the same entity (funds coming from the change address of the prior transaction) sends them 1 BTC again six months later (November 2020). It would seem again that this large donor is happy with the work they're doing.
  • Another year goes by (December 2021) and we're retroactively asking for accounting.

I would be interested in the opinion of the large donor - why they donated, and if they're happy with the outcome. But I guess they're unlikely to come forward.

There is nothing particularly wrong with the community asking questions, it's just that it's starting to sound a bit like digging up a trade of someone selling some trinket a year ago and now asking for a tracking number with signature confirmation. Let's be real, we won't get detailed receipts for every satoshi. Perhaps lowering those expectations and asking cabalism13 et al what is feasible to provide would be more productive, instead of facing them with an impossible task.

Some said that they started with good intentions but they "lost" it on their way. So? Greater initiatives, bigger projects, "lose" it, and along lost the funds that they suppose to keep/ spent for a reason. They are excused because they didn't start with such intentions?

I wouldn't say "excused" but certainly it matters a lot what the expectations of donors are. If donors are like "don't waste your time on detailed accounting" and the charity runs basically on volunteer work, I can understand how the lack of accounting happens. But it wouldn't justify pocketing or losing charity money, if that's what happened here.

1918  Economy / Gambling discussion / Re: 🏈🏈 The American Football Discussion Thread 🏈🏈 on: December 26, 2021, 04:34:20 AM
Speaking of trash... Arizona Roll Eyes

Two missed FGs, bad snaps, 3rd loss in a row. Looking a bit shabby at this point in the season.
1919  Economy / Reputation / Re: Bitcointalk Charity and its funds on: December 26, 2021, 01:09:30 AM
If someone across the street much less halfway across the globe asked you to donate $100 to their cause you wouldn't until you had done some checks and balances.

Apples and oranges. Across the street you can "check and balance" in person. Not feasible halfway across the world, not for $100 anyway. And most of the information provided remotely (pictures, receipts, spreadsheets) can be faked. So it comes down to trust.
1920  Economy / Reputation / Re: Bitcointalk Charity and its funds on: December 25, 2021, 11:46:17 PM
I still have mixed feelings about it, it's at least very naive not to keep accurate records.

In hindsight, with the ~2 BTC - yes.

However it didn't start like that. I didn't donate to this specific effort but I've given money in similar circumstances. Let's say you give $100 to someone halfway across the world and the person provided e.g. a picture of a happy crowd with what could be $100 worth of groceries in front of them, is a receipt going to change anything? Without being there in person you have no way to verify it so comes down to trusting - or not - that person with the $100. And if you didn't ask for a receipt to begin with, you'd be an asshole to start asking for it a year later.

Anyway, with the somewhat spotty evidence provided I have no reason to believe that crwth is at fault here. There seem to be significant amounts gone to the other two guys, so there is probably more work needed to untangle that part.
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