Are you folks in US filing crypto taxes for transactions you did in exchanges such as Kucoin and Gate.io ? They don't allow US customers and what if you had transactions on these exchanges? Do you include them in tax returns? #kucoin #crypto
I'd like to buy a foreign stocks directly in the foreign exchanges. The ADRs are very low volume or not available, I need to go for the actual stock. I'm a US person for tax purpose and will use a US broker. Do I need to worry about any tax declaration in the foreign country? Or will the other coun...Read more
Did you file crypto taxes in 2016 and claim like-kind exchanges under section 1031 - i.e. claimed no gain since the trades were crypto to crypto rather than realizing the gains into fiat? If so, did you file form 8824? And if so, did the IRS challenge it? The 2018 tax code closed this avenue but it...Read more
When there is more taxes then more money is moving out of the country https://finance.yahoo.com/news/indians-moved-over-3-8b-075804289.html
Step 1: ban the free exchange of dollar and crypto (through explicit bans or implicitly through KYC) Step 2: Declare that you must pay your taxes in dollars Now you are back under the tyranny of dollar printing
Curious if anyone here has experience selling a rental property. I have a rental property that appreciated for 500k to 1M over 10 years. maintenance is getting to be too much for me, and I want to sell it. Other than a 1031 exchange, are there better ways for be tax efficient when selling the prope...Read more
How are you calculating your crypto taxes for 2021 from exchanges like FTX, Coinbase, etc? Do these exchanges not provide a tax form or any type of PnL summary? #taxes #finance #crypto
I am planning to diversify my stock portfolio from a single stock to a booglehead style 3 fund protfolio. I want to avoid the capital gains tax that I will incur after selling my stocks. I will gain around 60k in profits. My net work is below 1M so I don’t think I qualify for exchange funds. #tax ...Read more
I do some high value consulting and able to make 400K per year - is anybody else making similar amount of money in addition to W2 - would like to exchange ideas on how to tax optimize jt via S Corp
I see several ads in Facebook and YouTube that advertise advanced Tax Strategies to save huge amounts of taxes ( 100K+) for W2 employees with income over 1M plus. All my research has shown there are not much loopholes for W2 income. Some of the obvious things you could do is HSA, 401K, Backdoor RO...Read more
I had some crypto currency that I exchanged to some tokens during the boom time (early Jan). Considering IRS even considers exchange of crypto taxable (afaik). How can I not pay substantial amount of tax for exchanging to those tokens considering I didn’t even got a dollar out of them?
I am thinking of exchanging VOO in my Roth 401K and buy SCHD. From what I understand - the idea is to create a monster tax free dividend income in retirement. Anyone else doing it ? Could you share your pros and cons Update- Is there any reason to do this at all ? Seems people are pointing out keep...Read more
Dollar -> Buy bitcoin in US exchange -> send to exchange in China -> sell in Yuan -> exchange to dollars If you realized profit, how does tax work in this case?
I recently learnt about the like-kind exchange (1031) technique used in real estate (to avoid liquidity/taxes). I wonder if there is a like-kind exchange solution to exchange stock market equity as well. Any alternatives? PS: I have a lot of company stock options that I would like to exchange to di...Read more
If you could choose, would you prefer to be taxed on income or NW? For example, instead of paying 40%+ income tax during your career, you get to keep it all in exchange for paying 2% of your NW in annual taxes forever (with a standard deduction of around $500k NW before you have to start paying tax...Read more
- What exchange do you use? - Transferring coins from Coinbase to another exchange? Does it trigger a taxable event? (Stgc) - Swapping out bitcoins for altcoins on the same exchange. Does it trigger a taxable event? - What would you buy today and why?
Got picked up in H1b lottery this year. But already I am sick of being on visa. If USCIS cannot give us green cards within 1-2 years then why should I pay taxes? I heard it’s taking 10+ years for Indians in EB2 to get GC. Give me green card in exchange of paying hefty taxes. I am yet to file my G...Read more
I got to know today that my brother lost 500k in crypto scam thinking he is trading on a crypto exchange. Turned out, it was a fake exchange and he lost all his life savings and has 400k loans on his name. This news has messed my mental state and I’m not sure how to help him Blind tax: 200k + 🥜 rs...Read more
If anybody here is doing independent consulting through LLC, let’s connect and exchange ideas a on how to save taxes on business income! I started doing it recently after layoff and learnt few things #personalfinance #taxes #tax
I have 0.5btc on exchange(bought couple of years back) which I moved to my hardware wallet last month and if I plan to sell my btc later this month I have to move my btc to exchange. In this scenario I will have to pay short term taxes (because I moved my btc from hardware wallet to exchange) or I ...Read more