The funnel as price rises

[jballs]

The biggest problem there is the amount of taxes you would have to pay if you took out $1 million.

realize your gains in capital gains tax free jurisdiction

What's your recommended jurisdiction?

It depends on where you are from. If you are a yankee you can never get out, unless you relinquish your citizenship. That's more common than it used to be but still a pretty big decision for most. You can keep the cap gains down to 15% if you stay in a poverty earned income bracket for the year you withdraw/monetize the btc. You can live pretty good in Belize on a poverty income for that year, so I recommend that jurisdiction. I recommend that jurisdiction for pretty much everything though. Because it rocks. If you want to void your citizenship (and are a yankee currently), Singapore has favorable tax laws, as does Switzerland.

This might be the best strategic route though-

http://business.financialpost.com/2013/03/11/puerto-ricos-no-capital-gains-tax-luring-wealthy-americans/

Let us know how it goes, maybe see you in Belize...

new zealand

new zealand looks awesome (no cap gains tax either), Belize has the reef, but NZ has the great barrier close enough so... yeah good option there, thanks.

[zimmah]

The biggest problem there is the amount of taxes you would have to pay if you took out $1 million.

realize your gains in capital gains tax free jurisdiction

What's your recommended jurisdiction?

It depends on where you are from. If you are a yankee you can never get out, unless you relinquish your citizenship. That's more common than it used to be but still a pretty big decision for most. You can keep the cap gains down to 15% if you stay in a poverty earned income bracket for the year you withdraw/monetize the btc. You can live pretty good in Belize on a poverty income for that year, so I recommend that jurisdiction. I recommend that jurisdiction for pretty much everything though. Because it rocks. If you want to void your citizenship (and are a yankee currently), Singapore has favorable tax laws, as does Switzerland.

This might be the best strategic route though-

http://business.financialpost.com/2013/03/11/puerto-ricos-no-capital-gains-tax-luring-wealthy-americans/

Let us know how it goes, maybe see you in Belize...

new zealand

new zealand looks awesome (no cap gains tax either), Belize has the reef, but NZ has the great barrier close enough so... yeah good option there, thanks.

What about the Netherlands? Income tax is ridicously high here and if I ever manage to earn a million worth of bitcoins somehow than I would prefer not to pay 600 000 euros of tax.

[BitchicksHusband]

The biggest problem there is the amount of taxes you would have to pay if you took out $1 million.

Yeah, 0% can be tough to come up with...

[BitchicksHusband]

The biggest problem there is the amount of taxes you would have to pay if you took out $1 million.

realize your gains in capital gains tax free jurisdiction

Doesn't work if you're an American citizen.

If you hold them for a year, it's 0% if you make less than $72,000 joint or $36,000 single.  And this is if you take out $1 million all at once, since your long-term capital gains don't count as income.  So it works just fine.

[jballs]

The biggest problem there is the amount of taxes you would have to pay if you took out $1 million.

realize your gains in capital gains tax free jurisdiction

Doesn't work if you're an American citizen.

If you hold them for a year, it's 0% if you make less than $72,000 joint or $36,000 single.  And this is if you take out $1 million all at once, since your long-term capital gains don't count as income.  So it works just fine.

Yes, I juxtaposed the 15% cap gains with the 15% income bracket somewhere above.... and holy hell 92,500 AGI for a couple still keeps you in the 15% bracket and 0 cap gains, Hedge fund guys all moving to Puerto Rico. God help you if you're single making 100k a year you are the only person in the country still paying uncle sam.

http://www.forbes.com/sites/ashleaebeling/2013/09/13/how-to-beat-the-big-2013-capital-gains-tax-hike/