Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Send the tax man a check now. I had a friend cash out 200k in december 2017 he sold 11 coins at about 19k.
he let the cash burn a hole in his pocket. decided to buy back in when coins dropped to 10k and then did not have any cash to pay the tax man.
If your tax bill is 400k at least send in 200k don’t fuck around.
he let the cash burn a hole in his pocket. decided to buy back in when coins dropped to 10k and then did not have any cash to pay the tax man.
If your tax bill is 400k at least send in 200k don’t fuck around.
Current max tax rate in US for long-term gains is 20%.
one would wish this were true... don't forget to add in the Net Investment Income Tax (an additional 3.8%) that kicks in somewhere between 200 and 400k
also don't forget most states want their cut also (in some states topping out over 12%)
between these to that 20% max just turned into 35%
