Even if you make $1,000,000 profit you’d be lucky to cash out and be able to keep $500,000 in most countries.
You true crypto net worth is 50% of what it actually says it is if you live in most Zionist run countries
You need $2,000,000+ to have a true $1,000,000 cash out.
Shits fucking gay man
we tried globalizing without banks, did you think the people who control your fucking food and house would just put up with that?
agreed
>but what about the bottom 90% that are supported by tax money?!
not my problem
But without your taxes how will we fund the $30 million program to provide literal crack pipes to underprivileged brown folk?
OP are you a bsc casino jeet or just too retarded to hold for an entire year?
It doesn’t matter cuntface
Capital gains here is 50%, or 25% if you hold for more than 1 year
But then you have to include your income tax bracket, which for me is 40%
So 40% + 25% = if I make 1,000,000 profit and hold for 1 year I owe $650,000 taxes for that period I sell in
What country do you live in? Sounds lame.
You are doing your math wrong...
It’s like this in all Australia, UK, US, NZ
No its not. Long term capital gains is a 50% reduction. So even if you get bumped up into the next tax bracket, you pay 20% not the 40% you would on short term cap gains.
In most countries you either pay the capital gains tax or the income tax.
Don’t be American lol, it’s just that easy!
If you have enough Bitcoin you never need to "cash out" big amounts anymore. It's better than holding a house; I just roam around in the E.U goijf from country to country renting places. When Bitcoin goes up a percent I can pay another year of rent.
u fucking retard this is not how it works in Australia
lol learn to fucking calculate tax you stupid pajeet hahahaha imagine thinking that you owe that much fucking money hahahaha fucking pajeet
kek imagine paying tax
>Talking about making millions of dollars
> cant even spend 300$ to talk to an accountant who actually knows how to calculate tax.
kys
Yeah it’s pretty dumb. I was a neet living a miserable existence off government gibs for years though so I figure it’s only fair to pay some tax.
imagine paying taxes
TOPKEK
There are ways around this, some legit and some not so legit. Been involved with offshore tax strategies for the past 5 years and the amount of things you can get away with is incredible. Depends on your circumstances and what you want to do with the cash-out, obviously, but in general the sky is the limit.
Would any anons be interested in hearing more?
Government will just print the money it wants