Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Let’s pretend Biden doubles CGT. Which isn’t going to happen
You will still be better off selling next year.
Also, Biden isn’t going to do shit on taxes. He’s got bigger fights on his hands like fixing Covid.
You will still be better off selling next year.
Also, Biden isn’t going to do shit on taxes. He’s got bigger fights on his hands like fixing Covid.
exactly...it has to be 85% cap gains on 100K..20% cap gains on 16K (if your cost is close to zero) is 3.8K, 12.2k profit.
If btc is 100K, tax has to be 88% to get the same profit. Zero chance for such tax and any tax higher than maybe 30% or so.
30% is possible...I paid 39.7% cap gains in 2000. That was a howler (forgot about short term vs long term when trading
)Not to put too fine a point on it but it’s not cap gains short term, it’s income.
in US it is called short term cap gains, which, indeed, are taxed at the regular income rates.
I know it is mean to rub it in but weirdly enough in Germany, after hodling for 12 months, the capital gains tax is zero. also: no vat when buying or selling btc. usually vat is at a sick 19% (right now due to covid they lowered it to 16%, still face-ripping) usual capital gains tax is 25%