Replying to Avatar Jonathan

I'm curious, we have all these tools to self custody and protect our bitcoin, but how do we protect against the cap gains tax man? As an American we will pay 20% no matter where we live in the world, and in Cali it's 33%

Does it just come down to non KYC purchases only to avoid tracking? Will you have to earn it directly to avoid fiat paper trail from paycheck like a cash job would now?

What are the odds the U.S. abandons its federal cap gains tax?

#asknostr
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Corey San Diego 1y ago

If you're married and have no other income, the first ~$100k of cap gains isn't taxed federally.

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Jonathan 1y ago

Thanks Corey, I'm single and have an income right now, but I was curious about that if my situation changes. So if you live in a state with no state cap gains like Florida or Texas then no cap gains tax at all until 100k?

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Corey San Diego 1y ago

Correct, its half that if youre single. But the standard deduction even adds more. And, of course thats only on gains so you can sell more if your basis is high.

TN and NH are also options. Probably a half dozen others.