You know you have to pay capital gains right?
Discussion
I literally heard this today
$50/year tax-free if youâre single and donât work⊠$89K/year tax-free if married or you have dependents and donât workâŠthatâs a pretty fat tax free retirement account
I think technically you only need to file taxes showing the capital gain. You donât have to pay. They will try seizing assets but you wonât have any they can seize. They will also charge you interest which you also wonât pay.
Eventually, if you want, you can negotiate a payment to settle the bill and pay a small percentage, if you want.
Ask your accountant đ
>believing the government wonât collapse before cap gains come into play
If I spend sats, it's not capital gains. It's a sales tax.
Depends where you are in the world. Hodl long enough and change the law in your country.
"Our worthless currency keeps falling in value because we print it like toilet paper to pad our own pockets without pissing everyone off by openly raising taxes. You tried to avoid our hidden inflation tax by using our worthless currency to buy something we can't print. Since you did that, our currency has fallen in value even more. We're going to keep assuming you're an idiot and call the amount of value our currency lost against your purchase "capital gain", and demand you pay us a tax on that. So essentially we're going to shake you down for part of the value you didn't lose because you were smart enough not to hold the currency we keep inflating. Y U mad bro?" -the government
đŻ
lmao
No (in France) if I stay in crypto only and not ever cash out in Fiat you do not have to pay capital gains.
In the long run you eventually need to sustain yourself so you need to have some income in fiat.
Also, at one point I hope weâre able to easily borrow fiat against Bitcoin.
I hodl, I don't sell or spend. So put that in your pipe and smoke it, Mr Taxman.
No thanks IRS, GFY