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Re: Suggestion: to make a button to filter out messages from users with signatures.
Ok, I got it, the idea was not good.
I know it's possible to turn off signatures or to block them partially using a script.
The idea was to change the behavior of some posters, just like signature campaigns changed it.
I will try to work on a better idea
I know it's possible to turn off signatures or to block them partially using a script.
The idea was to change the behavior of some posters, just like signature campaigns changed it.
I will try to work on a better idea
First of all, I would like to stress I am looking only for legal (in the US) ways to minimize taxes.
No cheating.
Just like in that movie, The Shawshank Redemption, Andy's advice saved a few bucks for Byron.
That is pretty close to what I'm thinking about.
It seems there are no elegant and simple solutions.
Thanks to everyone for contributing to this topic.
No cheating.
Just like in that movie, The Shawshank Redemption, Andy's advice saved a few bucks for Byron.
are you thinking to deduct the loan interest from $2k profit, so that you paying tax only on $500
I think you can't do that if you are doing it personally unless you are reporting tax as a business
I think you can't do that if you are doing it personally unless you are reporting tax as a business
Quote from: Investopedia https://www.investopedia.com/ask/answers/112415/are-personal-loans-tax-deductible.asp
Interest paid on personal loans is not tax-deductible. If you borrow to buy a car for personal use or to cover other personal expenses, the interest you pay on that loan does not reduce your tax liability.
...
Exceptions to the Rule
If you use a personal loan or credit card to finance business expenses in addition to personal expenditures, you may be able to claim the interest paid on those expenses on your taxes. You must be the person legally liable for the loan, and you must be able to itemize what portion of the interest paid is attributable to legitimate business expenses.
...
Exceptions to the Rule
If you use a personal loan or credit card to finance business expenses in addition to personal expenditures, you may be able to claim the interest paid on those expenses on your taxes. You must be the person legally liable for the loan, and you must be able to itemize what portion of the interest paid is attributable to legitimate business expenses.
That is pretty close to what I'm thinking about.
It seems there are no elegant and simple solutions.
Thanks to everyone for contributing to this topic.
I would like to put some additional details.
Let's say I bought 1 BTC at $8k, and I am selling it for $10k.
My profit is $2k.
I have the option to declare $2k profit and pay taxes, or use it as collateral for a loan.
So let's say I have to pay 35% taxes for the $2k profit.
If I can take a 1-year loan for 19% APR, it would be better to take a loan, correct?
jaocoincrypto18
I am not sure you are right.
My profits and lender's profits may be different, I see no reason to pay my taxes to the lender as you describe.
audaciousbeing
I agree with that. I suppose, it's profitable to take a loan for 1-year to pay it back only if the BTC price goes up.
Let's say I bought 1 BTC at $8k, and I am selling it for $10k.
My profit is $2k.
I have the option to declare $2k profit and pay taxes, or use it as collateral for a loan.
So let's say I have to pay 35% taxes for the $2k profit.
If I can take a 1-year loan for 19% APR, it would be better to take a loan, correct?
jaocoincrypto18
I am not sure you are right.
My profits and lender's profits may be different, I see no reason to pay my taxes to the lender as you describe.
audaciousbeing
I agree with that. I suppose, it's profitable to take a loan for 1-year to pay it back only if the BTC price goes up.
Re: [Request] 1 Merit to become junior member and access to bounties sub
Another way is to use merit as a currency )
For example, somebody posted good relevant messages and got merit.
Now, each time the user posts in a few subforums (for example "Bounties") one merit is deducted.
That way, people who really contribute to the forum can use their merit to post ads.
It may be against the original forum idea, but when bitcointalk was created nobody imagined it would be hardly spammed by signature bounty hunters.
For example, somebody posted good relevant messages and got merit.
Now, each time the user posts in a few subforums (for example "Bounties") one merit is deducted.
That way, people who really contribute to the forum can use their merit to post ads.
It may be against the original forum idea, but when bitcointalk was created nobody imagined it would be hardly spammed by signature bounty hunters.
Re: Suggestion: to make a button to filter out messages from users with signatures.
I guess what OP meant is a button to hide all messages/posts from users with signatures, not hiding the signatures.
Brute way, doesn't make much sense, if you believe 90% of posts from sig users are spam then with a button like this you will miss out on the 10% of genuine posts by sig users. Better use the ignore button.
Brute way, doesn't make much sense, if you believe 90% of posts from sig users are spam then with a button like this you will miss out on the 10% of genuine posts by sig users. Better use the ignore button.
You understood it right.
Imagine your email box without spam filters. It would be a nightmare.
The same way we use the "Spam" folder in our email box, we would use that function to filter all the spammy messages in the forum.
Re: [Request] 1 Merit to become junior member and access to bounties sub
What do the people who operate these bounties think of the newbie invasion? Also, people should not be required to post in order to get paid; that's already against the rules.
An idea I had in this vein was that upon registration you'd have to pick one of two paths:
- "I want to discuss things"
= Banned from all money-making/spam-hotbed sections until Jr Member
- "I want to make money"
= Banned from the more serious sections until Jr Member
= You have to pass a quiz before posting which tries to inform you about basic forum rules, how not to get banned, maybe some basic English knowledge, etc. (Quizzes are pointless to stop dedicated spammers, since an answer key will quickly be compiled, but it may help in cases where clueless people are ending up here.)
An idea I had in this vein was that upon registration you'd have to pick one of two paths:
- "I want to discuss things"
= Banned from all money-making/spam-hotbed sections until Jr Member
- "I want to make money"
= Banned from the more serious sections until Jr Member
= You have to pass a quiz before posting which tries to inform you about basic forum rules, how not to get banned, maybe some basic English knowledge, etc. (Quizzes are pointless to stop dedicated spammers, since an answer key will quickly be compiled, but it may help in cases where clueless people are ending up here.)
That's a great idea, but maybe it's a little bit too hard to be realized.
As an alternative, may I suggest to put every newbie (including me
in a sandbox section of the forum?Reputable members can enter that sandbox section and give merit to newbies who post reasonable things.
When newbies get enough merit and post enough messages, they will be able to gradually post more and more messages outside the sandbox.
Suggestion: to make a button to filter out messages from users with signatures.
Make Bitcointalk great again!
A nice message from a newbie, right ?
My suggestion is to make a button to hide all messages from users with signatures.
I believe 90% messages of such users are just signature spam and that messages doesn't help other users at all.
The new merit system and Copper membership partially helps to solve the spammy messages issue, but I would prefer a more brute way to solve it.
A nice message from a newbie, right
?My suggestion is to make a button to hide all messages from users with signatures.
I believe 90% messages of such users are just signature spam and that messages doesn't help other users at all.
The new merit system and Copper membership partially helps to solve the spammy messages issue, but I would prefer a more brute way to solve it.
Make sure that you get the nitty-gritties right. The bitcoins should still be in your name (if at all there is an ownership trail). The loan should be at arm's length and should bear interest. There should be commercial substance behind the transaction you structure.
Thanks a lot!
Why people do always love to evade tax? Or do things which would able to minimize or cant able to pay up tax.
Even I, would just pay up and obeying governments laws rather than on minding on how not to pay or evade. Anytime soon you will really able to feel the metal barriers of jail.
Even I, would just pay up and obeying governments laws rather than on minding on how not to pay or evade. Anytime soon you will really able to feel the metal barriers of jail.
I disagree with you.
Huge corporations try their best to avoid paying excessive taxes:
https://www.investopedia.com/financial-edge/0512/how-large-corporations-get-around-paying-less-in-taxes.aspx
Why we can't do the same.
Borrowing cash against bitcoin, is a legal way to avoid taxes, as far as I see.
Is it better to borrow cash using BTC as collateral, or just to sell BTC?
In terms of the taxes in the US.
Selling makes income, income have to be declared and paid taxes of it.
Borrowing means no income = no taxes.
Is it right?
Thanks for answering.
In terms of the taxes in the US.
Selling makes income, income have to be declared and paid taxes of it.
Borrowing means no income = no taxes.
Is it right?
Thanks for answering.
Hey weirdo why did you copy my message letter-by-letter? Is it a spam attempt?
Is it better to borrow cash using BTC as collateral, or just to sell BTC?
In terms of the taxes in the US.
Selling makes income, income have to be declared and paid taxes of it.
Borrowing means no income = no taxes.
Is it right?
Thanks for answering.
In terms of the taxes in the US.
Selling makes income, income have to be declared and paid taxes of it.
Borrowing means no income = no taxes.
Is it right?
Thanks for answering.