Re: I am pretty confident we are the new wealthy elite, gentlemen.
This thread has come true for many many people (who have cashed out lol)
Remember - it aint real until its actually in your hands ....
And getting it there isn't super easy.
And Uncle Sam is going to rape you for 20-30% of it ...
Mo money Mo problems ...
Remember - it aint real until its actually in your hands ....
And getting it there isn't super easy.
And Uncle Sam is going to rape you for 20-30% of it ...
Mo money Mo problems ...
Only 20-30%?
God, you US citizens are lucky bastards. I won't tell you the amount of raping that gets an European declaring capital gains of +6 figures - you would cry.
He was lowballing it, anyone who makes a million USD or more usually loses 50% if they try to take it in a lump sum.
Nope, that's income taxes. Increases in the value of an asset (such as bitcoins owned) is capital gains taxes, which is 20% MAX and normally in the 10 to 12% range in the US.
I'm crying. Really. You don't even know how lucky you are.
there may be some way to cash out internationally in china ,eastern europe or russsia if you dont mind and reduce your taxes
down to about zero and transfer the money to a tax free haven ,(quick google check says there are several )
this may or may nor be legal depending on which country you reside but if you have a lot of BTC you can also buy citizenship in a lot
of other countries that dont have such taxes
Never to return.
if i had enough coins id have no problems moving to china for awhile to cash them
open a chinese bank account and you can withdraw money anywhere with the atm card
without losing 40-50%