Quote from: yoyoceramic on June 06, 2011, 11:37:44 PM

Quote from: RobertFawcett on June 06, 2011, 11:36:39 PM

Quote from: forever-d on June 06, 2011, 11:28:18 PM

Actually, not even renouncing your citizenship may save you from certain taxes.

You should talk to the forum member Mike Gogulski, who went the whole way and became stateless.

What? Really? That's messed up. I'll have to look into this.

Quote from: yoyoceramic on June 06, 2011, 11:31:16 PM

This is correct. In 2011 for a non-married individual, if you make less than $34,500 you would pay 0% capital gains taxes. So, before you sell your bitcoin, ask for a reduction in your salary, then wait a year Wink

Well if this is true, it could work really well for me...

Source: http://www.moneychimp.com/features/tax_brackets.htm

I am an accountant, and literally everything you are saying is wrong. I am not trying to be a jerk or anything, but this is very bad tax advice.

Whether someone wants to pay taxes on their bitcoins or not is a moral question for themselves to answer, but legally speaking, capital gains are considered part of your income, and are subject to capital gains taxes, which are NOT 0% if you make under $34.5k unless those are LONG TERM capital gains, which is a very important distinction.