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CEG5952
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December 04, 2013, 11:38:27 PM |
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Capital Gains. god damn it, i should of never sold anything  i need to learn how to hide my Capital Gains, should i dump it in BTC?  Dude, we have a $750k capital gains personal exemption here in Canada....use it. I'm going to move to New Zealand (from Australia) for a year when I sell mine. Fuck giving 45% of my BTC to the government. If anyone wants to throw out a good tax strategy for an American, I'm all ears. I'm dreading having to pay on my BTC profits. There isn't one. You either cheat or pay. Oh and moving won't help you. Americans are taxed on their worldwide income and you can't give up citizenship for tax reasons. You have to pay an exit tax on your entire holdings. Wrong! Live in Puerto Rico for 183 days out of the year and you do not pay captial gains tax, OR federal income tax. We see another month like November and I'll be moving there.  can you point me to a source for this? i have family in PR and this interests me greatly.  |
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"If you don't want people to know you're a scumbag then don't be a scumbag." -- margaritahuyan
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Vycid
Sr. Member
 Offline
Activity: 336
Merit: 250
♫ the AM bear who cares ♫
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December 04, 2013, 11:39:24 PM |
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Capital Gains. god damn it, i should of never sold anything i need to learn how to hide my Capital Gains, should i dump it in BTC? Dude, we have a $750k capital gains personal exemption here in Canada....use it. I'm going to move to New Zealand (from Australia) for a year when I sell mine. Fuck giving 45% of my BTC to the government. If anyone wants to throw out a good tax strategy for an American, I'm all ears. I'm dreading having to pay on my BTC profits. There isn't one. You either cheat or pay. Oh and moving won't help you. Americans are taxed on their worldwide income and you can't give up citizenship for tax reasons. You have to pay an exit tax on your entire holdings. Wrong! Live in Puerto Rico for 183 days out of the year and you do not pay captial gains tax, OR federal income tax. We see another month like November and I'll be moving there. can you point me to a source for this? i have family in PR and this interests me greatly. |
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User705
Legendary
Offline
Activity: 896
Merit: 1006
First 100% Liquid Stablecoin Backed by Gold
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December 04, 2013, 11:40:12 PM |
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Ah yes I forgot about that one. Although their debt is so huge and they might become a state then who knows. Capital Gains. god damn it, i should of never sold anything i need to learn how to hide my Capital Gains, should i dump it in BTC? Dude, we have a $750k capital gains personal exemption here in Canada....use it. I'm going to move to New Zealand (from Australia) for a year when I sell mine. Fuck giving 45% of my BTC to the government. If anyone wants to throw out a good tax strategy for an American, I'm all ears. I'm dreading having to pay on my BTC profits. There isn't one. You either cheat or pay. Oh and moving won't help you. Americans are taxed on their worldwide income and you can't give up citizenship for tax reasons. You have to pay an exit tax on your entire holdings. Wrong! Live in Puerto Rico for 183 days out of the year and you do not pay captial gains tax, OR federal income tax. We see another month like November and I'll be moving there. Wasn't that a one time |
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Vycid
Sr. Member
Offline
Activity: 336
Merit: 250
♫ the AM bear who cares ♫
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December 04, 2013, 11:42:00 PM |
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Ah yes I forgot about that one. Although their debt is so huge and they might become a state then who knows. Capital Gains. god damn it, i should of never sold anything i need to learn how to hide my Capital Gains, should i dump it in BTC? Dude, we have a $750k capital gains personal exemption here in Canada....use it. I'm going to move to New Zealand (from Australia) for a year when I sell mine. Fuck giving 45% of my BTC to the government. If anyone wants to throw out a good tax strategy for an American, I'm all ears. I'm dreading having to pay on my BTC profits. There isn't one. You either cheat or pay. Oh and moving won't help you. Americans are taxed on their worldwide income and you can't give up citizenship for tax reasons. You have to pay an exit tax on your entire holdings. Wrong! Live in Puerto Rico for 183 days out of the year and you do not pay captial gains tax, OR federal income tax. We see another month like November and I'll be moving there. Wasn't that a one time No. See KPMG guidance above. |
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SheHadMANHands
Legendary
Offline
Activity: 1168
Merit: 1000
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December 04, 2013, 11:45:28 PM |
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Soon, we dine.
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nagnagnag2
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December 04, 2013, 11:45:48 PM |
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damn commuter train to brake down |
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simonk83
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December 04, 2013, 11:47:36 PM |
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Capital Gains. god damn it, i should of never sold anything i need to learn how to hide my Capital Gains, should i dump it in BTC? Dude, we have a $750k capital gains personal exemption here in Canada....use it. I'm going to move to New Zealand (from Australia) for a year when I sell mine. Fuck giving 45% of my BTC to the government. What's the deal in Aus anyway? How do they even know the money you recieve is Bitcoin related, or how long you've owned those coins (assuming the over one year - 50% cap gains applies)? |
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KaTXi
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December 04, 2013, 11:48:27 PM |
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ATH in Euros in MTGox: 895 €
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SheHadMANHands
Legendary
Offline
Activity: 1168
Merit: 1000
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December 04, 2013, 11:48:57 PM |
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Isn't tax only 15% capital gains after 1 year? Hugh Hendry: Bitcoin Could Hit 1 Million omgomgomgomgomg circle jerk |
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ag@th0s
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December 04, 2013, 11:52:30 PM |
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Works fine for gold
Yes, and gold is used in day to day transactions by regular consumers all the time...  Bitcoin won't be used in day to day transactions by regular consumers all the time. It won't be a currency. It's a store of value thing, like gold. Agree. It will become the crypto store of value against which other crypto's, better suited to rapid small value transactions, peg themselves. Which is why I'm holding onto my LTC. It won't achieve this though until it becomes a store of safe value, which requires it's price fluctuations to moderate. This is what is happening now. (in my entirely ignorant opinion |
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Vycid
Sr. Member
Offline
Activity: 336
Merit: 250
♫ the AM bear who cares ♫
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December 04, 2013, 11:54:01 PM |
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Isn't tax only 15% capital gains after 1 year? Hugh Hendry: Bitcoin Could Hit 1 Million omgomgomgomgomg circle jerk CJ Commencing. Approaching ATH on Gox! CHOO2 = CHOO H O O |
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ChartBuddy
Legendary
Offline
Activity: 2156
Merit: 1745
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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December 05, 2013, 12:02:15 AM |
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RooKIED
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December 05, 2013, 12:06:45 AM |
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Come on... we're so close to the ATH... and to gold price too  !!  |
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SheHadMANHands
Legendary
Offline
Activity: 1168
Merit: 1000
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December 05, 2013, 12:07:07 AM |
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Vycid, you went and did it there.
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DougTanner
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December 05, 2013, 12:08:16 AM |
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ATH on Gox soon.  |
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TiagoTiago
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December 05, 2013, 12:15:37 AM |
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Nvm, seems i hadn't tried all scales yet. |
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TiagoTiago
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December 05, 2013, 12:16:39 AM |
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Hm, nice wall at 1220...
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Syke
Legendary
Offline
Activity: 3878
Merit: 1193
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December 05, 2013, 12:19:08 AM |
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Isn't tax only 15% capital gains after 1 year?
In the US, if you are in the two lowest tax brackets, long-term capital gains are taxed at 0%. That's how you legally avoid paying taxes on your bitcoin cash-outs. |
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Vycid
Sr. Member
Offline
Activity: 336
Merit: 250
♫ the AM bear who cares ♫
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December 05, 2013, 12:24:52 AM |
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Isn't tax only 15% capital gains after 1 year?
In the US, if you are in the two lowest tax brackets, long-term capital gains are taxed at 0%. That's how you legally avoid paying taxes on your bitcoin cash-outs. So... I gotta quit my job to cash out? |
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