Lol, I was thinking how much money that I pay that goes out the window to another country. Lots of unaccounted cash payments to the big guy and other demm RINO politicians.
govts can only ever be used for evil, the only thing they claim the right to do that no one else has the right to do is to force peaceful people to fund and obey them... the only reason anyone needs that right is to force you to fund and do things you wouldnt do voluntarily, logically speaking govt can only ever be used to make you fund and do things you would never do voluntarily, ergo all govt is evil
@@thinkingimpaired5663 When you pay Federal Taxes, it goes directly into the pockets of the international bankers who own the Federal Reserve (a private corporation that isn't remotely a government agency).
As always, a great analysis. Newcomers often wonder if it's too late to navigate the financial market, but the market is always unpredictable. Trading has more advantages than simply holding, so it's important to learn before diving in. Active trades are necessary to ride the market's waves. Thanks to Whitney Eston’s insights, daily trade signals, and my dedication to learning, I've been increasing my daily earnings, managed to grow a decent 732k. Kudos to the journey ahead!
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience...
I started paying more attention to stock and learning more about online trades few days ago, thanks for the advice, I wish everyone will take this seriously!!
The economy is favorable to those who where able to get themselves into one investment or another, most people see investment as something big they can't participate in because they're too scared to venture into one.
So true, thanks for bringing this up to my notice, the truth is this economy wouldn't be so bad if people indulge themselves more with various investments rather than just depending on their stipends and savings, because the economy wouldn't always remain as it was
Today we have a lot of opportunities to invest in different commodities, stocks, cryptocurrencies and so much more but some people just sees this as a challenge and shy away from it
It should ONLY be when you take your money out, just like at the casino. You don’t pay taxes just because you’re up at the table. It’s only when you leave the casino. We need better regulations.
This youtuber does not have the rules down right... digital asset news had coin ledger guys on their channel last week and they have different rules... if you hold over 1 year without selling its 0% taxes as long as you make less then $86k a year
you know what's crappy about exchanging one coin for another. yes it's taxable. but in your example, you can't trade a house for a house directly, you have to sell it for usd and buy another one. in crypto land, you can directly trade one crypto for another. that shouldn't be taxable the same way as selling.
And in the US if that house is an investment trading for another investment property you can do a 1090 exchange and mainly eliminate most of the taxes owed. 😮
Where are the crypto laws? There are none. So how can you tax something that doesn’t exist in LAW. The irs and judges interpret and enforce law. How can they when there are none?
This gets brought up a lot. Not sure how the IRS would know other than W2’s wagers? (Which they do). How does the IRS know how much I owe from my 1099 business?
@@sizzelot Yes indeed. Check for the exact amount if over $10k to report only, it may be ok lower amounts, or the gray area is if you sent it privately as tender is questionable and on the receiver. I believe Mark means if you spend using a debit card, that broker is making the trade for you in the order books live to complete the debit transaction.
@@sizzelot Yes, when you cash out, off ramp, what ever, where will it be for cash??? Answer. A place that is regulated to report sales they pay out, business as usual.
I remember when I just got into crypto back in 2019 but later in 2020 I ended up selling it because I was dumb and I didn't understand it. I studied and learned and now I know how it works. Got back into crypto early in 2023 with 10k and I’m up with 128k in a short period of time .This comment serves as motivation for all those who have invested and continue to invest in cryptocurrencies with so many losses, do not give up, cryptocurrencies can change your life. Do your best to connect with the right people and you will surely see changes.
I will forever appreciate this channel, you’ve helped me and my family a lot, your videos, advice and lessons are inspirational helpful to us, I now earn every week. You’re such a blessing to this generation, we all love you
Okay but is not luck, is all about having good investment plans most of all trading with a trust worthy expert. Watching professional trading videos and most especially connecting with the right person the digital world is full of in unreal people I met some of them during my success journey. I felt same way when I started especially when you use demo account you might be winning but when you put in real money you start losing I understand and I pass through it all. I’m very happy I’m profitable now.
Currently i can attest to the fact that I make $18,300 weekly through trading which is more better then my monthly salary job. Trading becomes my passive income.
Well there’s taxes on almost literally EVERYTHING, so I’d imagine OC was talking about the taxes that we can avoid paying we all decide to not pay at once.
you can tell yourself that in a loony bin. If everyone didn't pay taxes I'm sure any remaining tax funds left would be pumped into the Military to hunt us all down.
Why no mention of taking out loans instead of selling crypto? Either fiat loans or crypto-backed loans and then just make minimum payments. You get liquidity without having to sell and take the tax hit. This allows your crypto to run higher and when/if you eventually need to sell to pay off loan, you can do so with much higher profits or roll over the loans.
Financial planning is like navigation. If you know where you are and where you want to go, navigation isn't such a great problem. It's when you don't know the two points that it's difficult
People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian.
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Nicole Miller.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
Definitely be watching this in total. The IRS has harassed me for crypto last year because I was not an accountant. They are so genius that they told me I owe them taxes on $80,000. Embarrassingly that money was reinvested and most of it was lost, so I wonder why they couldn’t see that? If they’re so genius, why don’t they just tell me the actual number I owe them and do my taxes for me? I obviously hate the giant scam taxes have become.
I’m glad the first 20 mins of a hopefully educational video was telling you to pay taxes after I already paid taxes and want to prep to do it better next year. FML
Why should we pay taxes when they are not even spending on what Americans want and are sending it to Ukraine or Israel or to study the sexual effects of cocaine on pidgins 😂
The U.S. Congress is still wrestling over crypto, so it's unlikely that a full regulatory regime will be in place before 2025, though court rulings and agency policies will keep emerging, without regulation and laws I will mot pay them a red crypto cent!
All capital gains and income tax should be abolished. All taxes should be consumption based at the point of sale. This way everyone pays equally and the more you spend the more tax you pay. It would mean even people operating cash businesses (even illegal ones) like drug dealers, prostitution, etc would have to pay tax when they buy something from a store. Last but not least it would eliminate the GOV's ability to pit people against each other rich vs poor through the progressive taxation system. In this scenario there would be no more IRS. You'd just pay state and federal sales tax.... And That's IT
@@FSUGrad1999 I absolutely agree with this!! I read up on the flat tax proposal by Republicans in which the democrats are trying to desperately poo poo it to Americans. The main argument being “the poor can’t pay it”…..fully ignoring the fact that the tax is not on necessities like food. Tax is on brand new items. Last year car model is not taxed. Homes built prior years is not taxed. We left Europe in a revolt of the tea and sugar tax….here we are again
❤ I usually look up your videos for updates! Our government has no idea how people are suffering these days. I feel for people with disabilities not getting the help they deserve.
Yes, it’s utterly astounding. How many people actually believe that they don’t owe tax until they sell their crypto for USD. As if you can just trade crypto until you’re worth $10 billion without any taxes.
Thanks for the advice! I'm new to financial planning and wasn't sure where to start. Any tips on finding a reliable financial adviser or resource to guide beginners?
I've been making a lot of losses trying to make profit trading. I thought trading on a demo account is just like trading the real market. Can anyone help me out or at least advise me on what to do?2:13
Seems I would give trading a trial and if eventually it works out perfectly then I will would introduce her in my place of work. Please how can I reach out to Miss JOYCE?
I MOVED TO Florida in 2017 (no state income tax) and have most of my assets in a ROTH. I do not draw from these accounts. I am 72 years old, RPh and MBA.
7:03 this isn’t THAT game tho. These are considered commodities not securities which is what makes this completely different. The IRS just isn’t familiar with it so it wants to settle it as if it were securities
@27:24 I think we need to factor in short term vs long term capital gains...if you hold for over 1yr (long term) you will be taxed up to either 0%, 15% or 20% max based on your income level...
This is so depressing. I live in a country that requires I pay a person just to figure out how much to pay the government that sends my money to support foreign countries 😔
A lot of this comes down to the ballot box. These politicians that want to bar us from crypto need to be voted out of office. Very simple. These people don’t want normal people to be able to invest in cryptocurrency so screw them let’s vote them out.
I got one better, stop participating in the scam called "government". If most of us disobey, they lose. They need people to continue to vote because it gives the system "legitimacy" in the eyes of the sheep.
@steven121290 Well they're making it more and more difficult in UK so will be interesting. Many are considering moving abroad due to this, so paying tax is 💯 a scam then. Nobody minds paying if they can cash out
I want a President who will call this a currency, right? Then it would be like forex, right? No tax on exchanging currencies, right? Or am I way off on this?
It's not a currency, not a security, not a commodity, etc. There's nothing like it but everyone who deals with all the above has vested interest in claiming it as part of their domain.
I heard that tax residents in Paraguay still have to be careful when cashing out of crypto, sending large amounts of money to a bank account in Paraguay. Like in many countries, the bank will probably close your account. It might need time to cash out smaller amounts over time so the bank gets confidence in you. Gradually cash out larger amounts into the bank account. It can be done but a bit messy.
If you want to avoid capital gains open an account in a DEX exchange, move your crypto there and sell it, then open a ghost bank account in el Salvador or any state that doesnt tax capital gains on crypto, move all your cash into that account and only do transfers out of it in $10k increments to prevent triggering any reportings to IRS. Done!!!
@@jayjeri1695 he is spreading fear to keep his job busy, remember he is an accountant after all..if you don't want to pay taxes set your primary residence in another country near the USA and done ..
sounds super sketchy man. Also you're still gonna have to pay taxes on that $10k once it's in fiat. All that stuff is tracked in the US regardless of the amount.
i guess you have to look at the blockchain. export that data to a spreadsheet or service like koinly or coinledger, and find the transactions that are over a year older than when you sold or swapped. maybe the services do it for you?
Legally crypto is considered property just like a car or a collectible baseball. It doesn’t matter if you trade the car for a painting or for cash you have to pay taxes. The IRS views cryptocurrency as property.
Gemini is a centralized exchange tho, it can also disappear so not the best advice cause you don’t own that either u less you move it to your own wallet
Mark should have introduced in the vocabulary, “in-kind.” If one trades an asset for a different asset, it is taxable. The example of swapping some Bitcoin for Ethereum is taxable, because it is not, “in-kind.” One can trade apples for apples, that is “in-kind”, so it is not taxable. If one trades apples for oranges, it is taxable, because is it not “in-kind.”
Still kinda confused about converting Crypto. You can’t covert 1 stock to another as far as I know. You have to literally sell it and then buy something else You can “convert” in crypto. You don’t have actually hit the “sell” button. Crazy thats still taxed So if I converted a crypto to another, I never realized that profit. If I sold a stock, I realized profit and then bought again, that makes sense to be taxed. I’m not saying you’re wrong by the way. Just trying to deepen my understanding
If you have an investment, but don't have a Roth, should that investment make a large return, how do you avoid taxes on the gains? Can I create a Roth and transfer the gains into it?
I usually look up your videos for updates! Our government has no idea how people are suffering these days. I feel for people with disabilities not getting the help they deserve. Thank you mrs Lauren Hopkins, imagine investing $12,000 and received $305,500.
You write off your crypto gas fees on Schedule D and form 8949. For me, any fees are considered a Ghaud damn loss. So use it to your advantage 🎯 Sincerely Tax Doc Preparer for Community Advocating 💸💪✅
I"M not paying tax on unrealized gains. I've never taken profit. I'll go to jail. I'm not paying taxes on unrealized gains. It does matter. If its not money in my bank account that I can spend, its not gains. Period. The law is wrong and I'm not paying it. Period.
Best Tax advise. Migrate to a country with less complex tax rules. Capital gain taxes suck balls. I'm from the netherlands. I don't have to keep track of my trading at all. All I need to know to do my taxes is what was my total networth on the first of januari of the tax year and that's it.
At the 3 minute 10 second mark you mentioned STATUS. Why did you go right past that with no comment whatsoever? STATUS is the most important question on the form. If you read the instructions, the regulations and the statute, you will find that it is vital to determining if you are liable for the tax, but for some reason attorneys and preparers know nothing about it!
*I feel like the more I learn about our country’s low income people, my anger grows.imagine lnvestlng $2,5OO and receiving $9,3OO proflts in 5 days. Thank you Ms Elinda McKee, the lady you recommended here sometime ago.🇺🇸*
I just withdrew my prof|ts a week ago, it was so shocking when I withdrew 22,OOO knowing | started with 7OOO, I wish I could re-|nvest with Ms Elinda McKee forever.
It's truly heart- warming reading a lot of testimonials on Ms Elinda McKee. Her personality, ethics, principles and prowess as a Financial Adviser has gained her fame and recognition around the globe.
The first step in every successful investment is to establish your goals and risk tolerance, a task best undertaken with the assistance of a financial advisor with extensive financial market knowledge like Elinda McKee.
The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional
Isn't she the same Mrs Nancy Williams Laplace that my neighbors are talking about, she has to be a perfect expect for people to talk about her so well.
Id love to hear tax liability and strategies for defi lending. How does that work? How are decentralized collateralized loans viewed by the IRS? What about leverage loans?
Every time I listen to one of your shows, I hate the federal government and the IRS more and more
I was thinking the same thing!
Lol, I was thinking how much money that I pay that goes out the window to another country. Lots of unaccounted cash payments to the big guy and other demm RINO politicians.
govts can only ever be used for evil, the only thing they claim the right to do that no one else has the right to do is to force peaceful people to fund and obey them... the only reason anyone needs that right is to force you to fund and do things you wouldnt do voluntarily, logically speaking govt can only ever be used to make you fund and do things you would never do voluntarily, ergo all govt is evil
@@thinkingimpaired5663 When you pay Federal Taxes, it goes directly into the pockets of the international bankers who own the Federal Reserve (a private corporation that isn't remotely a government agency).
Do you or your husband own a gun?
As always, a great analysis. Newcomers often wonder if it's too late to navigate the financial market, but the market is always unpredictable. Trading has more advantages than simply holding, so it's important to learn before diving in. Active trades are necessary to ride the market's waves. Thanks to Whitney Eston’s insights, daily trade signals, and my dedication to learning, I've been increasing my daily earnings, managed to grow a decent 732k. Kudos to the journey ahead!
I'm interested in expanding my knowledge, how do i get in touch with this anaIyst?
Whitney Eston program is widely available online..
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience...
I appreciate the professionalism and dedication of the team behind Whitney's trade signal service.
Whitney Eston strategy has normalized winning trades for me and it’s a huge milestone for me looking back to how it all started…
What is the best strategy to enter crypto trading now for someone with more or less than $25k
Almost gave up due to constant losses, but Jared turned my luck around
Leveraging market changes is a remarkable talent Jared has
In what way will someone get hisguidance
Just contact one of the scammers in the comments. You'll be fine.
@@miguelquazar883😂
The year 2024 is a year for each and everyone of us to make a fresh start, by making passive investments for a more stable and doubled income
The previous year was difficult and never worked in my favor, I'm thinking about starting up on stock market investment
I started paying more attention to stock and learning more about online trades few days ago, thanks for the advice, I wish everyone will take this seriously!!
The economy is favorable to those who where able to get themselves into one investment or another, most people see investment as something big they can't participate in because they're too scared to venture into one.
So true, thanks for bringing this up to my notice, the truth is this economy wouldn't be so bad if people indulge themselves more with various investments rather than just depending on their stipends and savings, because the economy wouldn't always remain as it was
Today we have a lot of opportunities to invest in different commodities, stocks, cryptocurrencies and so much more but some people just sees this as a challenge and shy away from it
It should ONLY be when you take your money out, just like at the casino. You don’t pay taxes just because you’re up at the table. It’s only when you leave the casino. We need better regulations.
This youtuber does not have the rules down right... digital asset news had coin ledger guys on their channel last week and they have different rules... if you hold over 1 year without selling its 0% taxes as long as you make less then $86k a year
@@FPVMgunit13uhhh what dont think thats true 😅
Is this in the US or a different country?
what if you make more than 86k for the year?@@FPVMgunit13
He is right and u may be as well. Your short term or long term capital gains tax is based off of your income level. Its a sliding scale.
you know what's crappy about exchanging one coin for another. yes it's taxable. but in your example, you can't trade a house for a house directly, you have to sell it for usd and buy another one. in crypto land, you can directly trade one crypto for another. that shouldn't be taxable the same way as selling.
And in the US if that house is an investment trading for another investment property you can do a 1090 exchange and mainly eliminate most of the taxes owed. 😮
@@StupidRalph good to know. If only you could do that for crypto. Stupid tax laws
Where are the crypto laws? There are none. So how can you tax something that doesn’t exist in LAW. The irs and judges interpret and enforce law. How can they when there are none?
I believe that is a taxable event
Time to relocate.
If the IRS is so on top of this they should be able to tell me how much I owe them!
This gets brought up a lot. Not sure how the IRS would know other than W2’s wagers? (Which they do). How does the IRS know how much I owe from my 1099 business?
What if you got a paper wallet with crypto on it as a birthday gift? Is that taxable when you trade the wallet for USD cash?
@@sizzelot Yes indeed. Check for the exact amount if over $10k to report only, it may be ok lower amounts, or the gray area is if you sent it privately as tender is questionable and on the receiver. I believe Mark means if you spend using a debit card, that broker is making the trade for you in the order books live to complete the debit transaction.
@@sizzelot Yes, when you cash out, off ramp, what ever, where will it be for cash??? Answer. A place that is regulated to report sales they pay out, business as usual.
i would love for it to be this straightforward but they treat people like they have something to prove to them instead of the other way around.
That’s why I left the US and have citizenship to Dubai and Switzerland. The US and UK and Canada are taxing their citizens on everything.
Para .. sititic.
@@Wi2Low real law u don't have to pay ... legal fiction citizen person has to.
@@Wi2Low succumbing to evil does not make evil.. good . As you sheep
How much are the illegals crossing the southern border paying in taxes?
It must be good to be rich. Most of can't even afford a foreign citizenship.
I remember when I just got into crypto back in 2019 but later in 2020 I ended up selling it because I was dumb and I didn't understand it. I studied and learned and now I know how it works. Got back into crypto early in 2023 with 10k and I’m up with 128k in a short period of time .This comment serves as motivation for all those who have invested and continue to invest in cryptocurrencies with so many losses, do not give up, cryptocurrencies can change your life. Do your best to connect with the right people and you will surely see changes.
I will forever appreciate this channel, you’ve helped me and my family a lot, your videos, advice and lessons are inspirational helpful to us,
I now earn every week. You’re such a blessing to this generation, we all love you
I will love to be your friend dear as well as sharing some i dears which you're benefiting.
Okay but is not luck, is all about having good investment plans most of all trading with a trust worthy expert.
Watching professional trading videos and most especially connecting with the right person the digital world is full of in unreal people I met some of them during my success journey. I felt same way when I started especially when you use demo account you might be winning but when you put in real money you start losing I understand and I pass through it all. I’m very happy I’m profitable now.
Hey how good are your earnings I will like to get some insights into trading thank you.
Currently i can attest to the fact that I
make $18,300 weekly through trading
which is more better then my monthly salary job. Trading becomes my passive
income.
I can relate to all you said becaus am facing similar thing right now.
Congratulations I wish you more success.
What's interesting about Crypto is that it's a volatile, highly un- regulated market, yet you have to pay taxes on any sell or trading?
If we all don't pay the IRS all at once, we win.
False
50% of the population already pay no taxes.
I like your answer but it is false. We pay taxes on everything we buy. And I pay all my taxes and even more than what I owe.
Well there’s taxes on almost literally EVERYTHING, so I’d imagine OC was talking about the taxes that we can avoid paying we all decide to not pay at once.
you can tell yourself that in a loony bin. If everyone didn't pay taxes I'm sure any remaining tax funds left would be pumped into the Military to hunt us all down.
Why no mention of taking out loans instead of selling crypto? Either fiat loans or crypto-backed loans and then just make minimum payments. You get liquidity without having to sell and take the tax hit. This allows your crypto to run higher and when/if you eventually need to sell to pay off loan, you can do so with much higher profits or roll over the loans.
Yes| why?
What companies are offering loans with crypto as collateral?
@@kgreen175 Unchain Capital, Hodl Hodl, Shapeshift, Nexo
@@kgreen175nexo
@@kgreen175there are some like Ledn, but I’d wait until banks offer it.
Financial planning is like navigation. If you know where you are and where you want to go, navigation isn't such a great problem. It's when you don't know the two points that it's difficult
People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in last month 2024
I'm 37 and have been looking for ways to be successful, please how??
Sincerely speaking. I will continue to trade and stick to katherine Flores daily signals and guides as long as it works well for me.
I'm new at this, please how can I reach her?
she's mostly on Telegrams, using the user name.
FLORES11 💯
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Nicole Miller.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
You trade with Nicole Miller too? Wow that woman has been a blessing to me and my family.
I'm new at this, please how can I reach her?
she's mostly on Telegrams, using the user name.
Definitely be watching this in total. The IRS has harassed me for crypto last year because I was not an accountant. They are so genius that they told me I owe them taxes on $80,000. Embarrassingly that money was reinvested and most of it was lost, so I wonder why they couldn’t see that? If they’re so genius, why don’t they just tell me the actual number I owe them and do my taxes for me? I obviously hate the giant scam taxes have become.
I love that you stress the truth and provide real examples. You rock Mark!
I’m glad the first 20 mins of a hopefully educational video was telling you to pay taxes after I already paid taxes and want to prep to do it better next year.
FML
Stop filing abolish the irs
Federal taxes don't pay for anything that benefits us anyway. They just print whatever they want into existence.
You first
I hate the IRS even more after this video. Why are they all in your business? Makes me not want to invest in crypto or stocks. Oooo I’m so pissed😡
That’s what they really want, scare us away from making real money like them.
Exactly we are trading for them
How about if the government wants to tax me on my gain for my risk, maybe the government should reimburse me for my loss! 🤔
Thats why american taxes doesn;t make sense. They are just stealing your money without explanation..
maybe we all can just stop paying these bullshit taxes!
Why should we pay taxes when they are not even spending on what Americans want and are sending it to Ukraine or Israel or to study the sexual effects of cocaine on pidgins 😂
What if you only lost money.... how you subtract that..... taxing income is bullshit! and ppl that defend it like you are scumbags@@Wi2Low
There are zero tax laws for crypto! This is sad 😂
bottom line: it is NOT THEIR MONEY...they are thieves and pirates in suits
The U.S. Congress is still wrestling over crypto, so it's unlikely that a full regulatory regime will be in place before 2025, though court rulings and agency policies will keep emerging, without regulation and laws I will mot pay them a red crypto cent!
They didn't create this. This isn't their property. This is not Caesars, and so therefore we do not owe to Caesar.
Yes! They are the criminals!
The whole damn system is corrupt and has been for over a hundred years
they're here to opress and extort and that's it
@@SeedfulMusic Then renounce your citizenship, and gtfo....
Love this guy - he’s delivering the nasty tasty medicine with amazing humour - who is this guy he’s brilliant ❤
This is all about what we’re willing to tolerate There’s a storm of pissed off people coming
I hope so because I'm sick of these crooks
Our tax system is so complicated. We need a major reform
All capital gains and income tax should be abolished. All taxes should be consumption based at the point of sale. This way everyone pays equally and the more you spend the more tax you pay. It would mean even people operating cash businesses (even illegal ones) like drug dealers, prostitution, etc would have to pay tax when they buy something from a store. Last but not least it would eliminate the GOV's ability to pit people against each other rich vs poor through the progressive taxation system. In this scenario there would be no more IRS. You'd just pay state and federal sales tax.... And That's IT
@@FSUGrad1999 I absolutely agree with this!! I read up on the flat tax proposal by Republicans in which the democrats are trying to desperately poo poo it to Americans. The main argument being “the poor can’t pay it”…..fully ignoring the fact that the tax is not on necessities like food. Tax is on brand new items. Last year car model is not taxed. Homes built prior years is not taxed. We left Europe in a revolt of the tea and sugar tax….here we are again
Sue the IRS and win.
5 stars! 4real! I learned a lot! Keep the investment education coming…loving it! Thanks a million 😮 Uncle Sam wants his!😅
❤ I usually look up your videos for updates! Our government has no idea how people are suffering these days. I feel for people with disabilities not getting the help they deserve.
Crypto Bull run is making waves everywhere and I have no idea on how it works. What is the best step to get started please ?
Wow, that's more than a mouthful of profits you're making. How do you achieve this feat consistently? You must be a genius in trading !!
Have you not heard of mrs Amelia Jason ?
She has this skill of making complex crypto concepts easy to understand and is truly commendable.
You know her too? I'm also a proud beneficiary of her superb platform.
Yes, it’s utterly astounding. How many people actually believe that they don’t owe tax until they sell their crypto for USD. As if you can just trade crypto until you’re worth $10 billion without any taxes.
Lots of excellent information in this video. Thank you.
Thank you for being the buzz kill that I need.
Thanks for the advice! I'm new to financial planning and wasn't sure where to start. Any tips on finding a reliable financial adviser or resource to guide beginners?
HOW
....!! I know it's possible, I would appreciate if you show me how to go about..
Please ,,I'm new here how can i contact her???
She is really a good investment expert. was
privileged to attend some of her seminars.
That is how I started my crypto investment
From NY city, I have a lot to say about her; but I'll only say "no regrets for inves'ting with Devion Jane"
Mrs Devion Jane was my hope during the
'bear summer last year. I did so many
mistakes but also learned so much from it.
Thank you for sharing this. I appreciate your insight. I’m a rewatch it as much as possible.
You're the best, just to the point and straight forward. Thank you for always providing the great advise.
I've been making a lot of losses trying to make profit trading. I thought trading on a demo account is just like trading the real market. Can anyone help me out or at least advise me on what to do?2:13
I'd recommend Camila Boyer, her profit is great even when there's a dip
Hey i'm shocked you just mentioned and recommended Camila Boyer i thought i was the only one trading with her
you dont need to be shocked haha because i'm also a huge beneficiary of her
I've seen positive reviews of this professional, she must be exceptional for people to talk about her goodness
Please how can someone get to speak with her?
How can I make more profit from crypto market? 🤔
That’s true, but the risks are minimal when you make those moves with the guidance of a professional. People still make huge ROI on a daily
I used to have the same issue till I met Miss Joyce Albert. The rest is history and I’m currently doing better, you give her mentorship a try 😊
I know her, she’s my family’s personal broker and also a personal in many families..I’m based in the Uk, she’s a licensed broker with FINRA
I’ve come across this name before, is she really reliable?
Seems I would give trading a trial and if eventually it works out perfectly then I will would introduce her in my place of work. Please how can I reach out to Miss JOYCE?
Just go to Mexico then come back as a new citizen and get free housing and a 10k credit card keep your gains
Exactly what I say!!! 👍
Stop spreading bullshit with no basis
How do you do this? And what if the US says "no" and doesn't allow reentry?
So in you use ether to pay for a pizza the govenrment gets to double tax you? cause you are already paying tax on your purchase!!!!!!!!
Remember to Borrow Against your Assets if possible, debt cannot be taxed.
You don’t have to sale your crypto to obtain another sir.
They can’t catch us all
Im curious as to how XRP will be handled as its deemed a currency.
I MOVED TO Florida in 2017 (no state income tax) and have most of my assets in a ROTH. I do not draw from these accounts. I am 72 years old, RPh and MBA.
Koinly for Australia seems good
What a fabulous video! Ty for the great information. ❤
Koinly is great!
Most of it is straight forward if u think into it .
Happy with Koinly: Crypto Tax Software
7:03 this isn’t THAT game tho. These are considered commodities not securities which is what makes this completely different. The IRS just isn’t familiar with it so it wants to settle it as if it were securities
I wish I would have seen your video sooner, but thank you for putting this out there to protect our decentralized family!
Personal ncome tax is illegal. There is no law enforcing it.
I appreciate you bro, thank you for the info.
@27:24 I think we need to factor in short term vs long term capital gains...if you hold for over 1yr (long term) you will be taxed up to either 0%, 15% or 20% max based on your income level...
even if it's a security?
Thank you very much for this informations.
This is so depressing. I live in a country that requires I pay a person just to figure out how much to pay the government that sends my money to support foreign countries 😔
loved moment with btc to etc, boom, clap, taxable! hahah
A lot of this comes down to the ballot box. These politicians that want to bar us from crypto need to be voted out of office. Very simple. These people don’t want normal people to be able to invest in cryptocurrency so screw them let’s vote them out.
I got one better, stop participating in the scam called "government". If most of us disobey, they lose. They need people to continue to vote because it gives the system "legitimacy" in the eyes of the sheep.
Very edcuational 5 stars
That is a scam though to tax on converting crypto because we don't know if we can even withdraw it. What even do we pay the tax with - in crypto?
You sell parts of it for cash and pay tax? Why wouldn't you be able to cash out? If you're not able to cash out, you're being scammed.
@steven121290
Well they're making it more and more difficult in UK so will be interesting. Many are considering moving abroad due to this, so paying tax is 💯 a scam then. Nobody minds paying if they can cash out
Exchanges maybe? @@steven121290
I keep hearing horror stories.
@@ummb7963 yes! once it hits fiat I'm absolutely ok with paying whatever that tax is bc I'm using the income in that fiat ecosystem.
Sounds like Costa Rica bound for me. Lol
I want a President who will call this a currency, right? Then it would be like forex, right? No tax on exchanging currencies, right? Or am I way off on this?
It's not a currency, not a security, not a commodity, etc. There's nothing like it but everyone who deals with all the above has vested interest in claiming it as part of their domain.
I heard that tax residents in Paraguay still have to be careful when cashing out of crypto, sending large amounts of money to a bank account in Paraguay. Like in many countries, the bank will probably close your account. It might need time to cash out smaller amounts over time so the bank gets confidence in you. Gradually cash out larger amounts into the bank account. It can be done but a bit messy.
If you want to avoid capital gains open an account in a DEX exchange, move your crypto there and sell it, then open a ghost bank account in el Salvador or any state that doesnt tax capital gains on crypto, move all your cash into that account and only do transfers out of it in $10k increments to prevent triggering any reportings to IRS. Done!!!
Sounds like a plan
That’s this really works ? This guy make it sound like they can trace it no matter what you do ..
@@jayjeri1695 he is spreading fear to keep his job busy, remember he is an accountant after all..if you don't want to pay taxes set your primary residence in another country near the USA and done ..
sounds super sketchy man. Also you're still gonna have to pay taxes on that $10k once it's in fiat. All that stuff is tracked in the US regardless of the amount.
That's structuring, and it's illegal.
Let's Bring the Tea Party back.
My question is If you dollar cost buy then sell some a year later,
how do they know which Sats I had longer that a year?
I wonder this to. Some places sell FIFO and some do LIFO (first in first out, last in first out)
HIFO is the best way in terms of tax purposes.
@@djake1743what's that?
i guess you have to look at the blockchain. export that data to a spreadsheet or service like koinly or coinledger, and find the transactions that are over a year older than when you sold or swapped. maybe the services do it for you?
Legally crypto is considered property just like a car or a collectible baseball. It doesn’t matter if you trade the car for a painting or for cash you have to pay taxes. The IRS views cryptocurrency as property.
Gemini is a centralized exchange tho, it can also disappear so not the best advice cause you don’t own that either u less you move it to your own wallet
yeah once he said Gemini has a great IRA to store your crypto in... i was like....I'm out!
Very informative thank you 🙏
Mark brushed up his crypto knowledge
Mark should have introduced in the vocabulary, “in-kind.” If one trades an asset for a different asset, it is taxable. The example of swapping some Bitcoin for Ethereum is taxable, because it is not, “in-kind.” One can trade apples for apples, that is “in-kind”, so it is not taxable. If one trades apples for oranges, it is taxable, because is it not “in-kind.”
Mark is an annoying person. I can not listen to this Khazar anymore.
Excellent information ! Thank You. 😎😎😎
It woukd be great if you could extend on this and do one on taxes for the crypto bankruptcy issue
Totally agree! There was a recommendation for filling a portion of the Celsius loss as a Ponzi but I’m not totally clear on this method.
Agreed. Ponzi safe harbor loss deduction for celsius victims
Still kinda confused about converting Crypto. You can’t covert 1 stock to another as far as I know. You have to literally sell it and then buy something else
You can “convert” in crypto. You don’t have actually hit the “sell” button. Crazy thats still taxed
So if I converted a crypto to another, I never realized that profit. If I sold a stock, I realized profit and then bought again, that makes sense to be taxed.
I’m not saying you’re wrong by the way. Just trying to deepen my understanding
Hi, anything like that in Canada?
I wish you were my Dad thanks for all the Info
How do you report the loss when you're crypto was stolen? Does not make any sense to pay tax on a crypto I don't physically have???
If your crypto is stolen then you have a 100% loss. I think that would be zero tax.
If you have an investment, but don't have a Roth, should that investment make a large return, how do you avoid taxes on the gains? Can I create a Roth and transfer the gains into it?
I usually look up your videos for updates! Our government has no idea how people are suffering these days. I feel for people with disabilities not getting the help they deserve.
Thank you mrs Lauren Hopkins, imagine investing $12,000 and received $305,500.
Crypto Bull run is making waves everywhere and I have no idea on how it works. What is the best step to get started please?
Have you not heard of Mrs. Lauren Hopkins ?
She has this skill of making complex crypto concepts easy to understand and is truly commendable.
You know her too? I'm also a proud beneficiary of her superb platform.
I'm new at this, please how can I reach her
??
LOVE ❤the Gemini Crypto ROTH “golden nugget”‼️😳TY TY TY!!!!🙏🙏🙏
Can you write off crypto gas fees? Like if you used the Eth blockchain to sell something?
You write off your crypto gas fees on Schedule D and form 8949.
For me, any fees are considered a Ghaud damn loss. So use it to your advantage 🎯
Sincerely
Tax Doc Preparer for Community Advocating 💸💪✅
Thank you
I"M not paying tax on unrealized gains. I've never taken profit. I'll go to jail. I'm not paying taxes on unrealized gains. It does matter. If its not money in my bank account that I can spend, its not gains. Period. The law is wrong and I'm not paying it. Period.
Good luck in prison dude lol
Best Tax advise. Migrate to a country with less complex tax rules. Capital gain taxes suck balls. I'm from the netherlands. I don't have to keep track of my trading at all. All I need to know to do my taxes is what was my total networth on the first of januari of the tax year and that's it.
At the 3 minute 10 second mark you mentioned STATUS. Why did you go right past that with no comment whatsoever? STATUS is the most important question on the form. If you read the instructions, the regulations and the statute, you will find that it is vital to determining if you are liable for the tax, but for some reason attorneys and preparers know nothing about it!
Bar Card Holders is all, I can figure!
swapping from btc to eth is not a sell, money are still invested
Were the government when we loose???
If it’s in the same year you don’t pay on gains
Let’s say you make $15k profit and then loose it then you pay $0 on those gains
I like you Mark. Great vid on this. Very important info. It’s. It about how much you make, it’s how much you keep.
They gonna put us all in jail? I already pay over 60k in taxes to these pricks, come get me
You don't pay tax when you sell usdc! It's $1 dollar always $1
There is no Crypto laws that have been passed in the United States right now.
Retardio
Gotta love the CEX system. You don't own your coins.... but you get to pay the taxes.
*I feel like the more I learn about our country’s low income people, my anger grows.imagine lnvestlng $2,5OO and receiving $9,3OO proflts in 5 days. Thank you Ms Elinda McKee, the lady you recommended here sometime ago.🇺🇸*
I just withdrew my prof|ts a week ago, it was so shocking when I withdrew 22,OOO knowing | started with 7OOO, I wish I could re-|nvest with Ms Elinda McKee forever.
It's truly heart- warming reading a lot of testimonials on Ms Elinda McKee. Her personality, ethics, principles and prowess as a Financial Adviser has gained her fame and recognition around the globe.
The first step in every successful investment is to establish your goals and risk tolerance, a task best undertaken with the assistance of a financial advisor with extensive financial market knowledge like Elinda McKee.
Making money is all about investing in the right way, most failure and loss on investment usually happen when you invest without proper guide.
Please, how do I connect with Elinda McKee? I would appreciate it if you show me how to go about it.
I watched 5 mins of this, Alert subscribed...I'll have to catch the rest later.. Ty just the questions I've been asking myself lately~
What is the best strategy to enter crypto trading for someone with more or less than $5,000 to invest?
As a beginner, it's essential for you to have a mentor to keep you accountable.
I'm guided by a widely known crypto consultant
Mrs Nancy Williams Laplace
Yeah that's right I think it's right to invest with professional at least it saves the trauma of too much loses
The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional
Isn't she the same Mrs Nancy Williams Laplace that my neighbors are talking about, she has to be a perfect expect for people to talk about her so well.
I bought $50 eth bought $50 nft and now it’s worth 0.0001 cent , so it’s a tax write off?
Id love to hear tax liability and strategies for defi lending. How does that work? How are decentralized collateralized loans viewed by the IRS? What about leverage loans?
Isn't Gemini getting sued huge right now?
You forgot staking...just paid taxes this year for my staking gains.
I've been looking for a vid on staking crypto taxes
@@nochill_penguin5052 it's simple...Coinbase sent a 1099 and it's just added as taxable income. There is a crypto related question on your 1040.
I'm starting to use TD easy trade tax free account I use four day in half I like it...