How To Avoid Crypto Taxes: Cashing out
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- Опубліковано 28 тра 2024
- You should pay your cryptocurrency taxes, but if someone wanted to avoid crypto tax...I guess this is how they would avoid the crypto capital gains tax. Sure, the taxation of cryptocurrency seems strange. But taxes on crypto are something that is going to happen when there's so much money out there.
00:00 How to avoid crypto taxes
00:33 Avoid KYC Exchanges
04:06 Pay for things with crypto (from a non-KYC exchange)
06:12 Crypto Taxes
07:54 Bitcoin ATM
09:16 Sell your crypto on eBay
11:31 Crypto Shopping
I recommend using an exchange with no KYC or a decentralized exchange. For most people, your best bet would be KuCoin and you would only be able to fund and withdraw from your account in cryptocurrency.
FVD Kucoin Review: • Kucoin Review: The bes...
As for CelPay, I forgot to mention they do KYC so they would be able to report you to your taxes. You should use crypto wallets to send crypto to other people. Nano is fast and super cheap if you want to use that as a form of payment
Dude you always have great advice and tips. keep it up.
Want to get better at doing crypto research? join.fullvalue.club/waitlist
@@FullValueDan This video has some of the most poorly researched half-baked nonsense on UA-cam. Let's review...
1) Send crypto from CoinBase (which has your identity linked to your wallet addresses) to a non-KYC exchange
2) Trade (i.e. SELL your crypto from a legal tax perspective) and fatten your bags (i.e. make CAPITAL GAINS from a legal tax perspective)
3) Send your gains (CAPITAL GAINS) to your fiat off-ramp (which is, no doubt, another exchange which has your identity) to convert them to US dollar (i.e. SELL them)
4) Pray that nobody at the IRS bothers to even remotely look into this activity because if they do there's a strong audit trail leading right to your balls which they can lock up for a lifetime or two.
I was audited by the IRS just for watching this video.
Lmao, just blame the algorithm. 😂
The algorithm is Uncle Sams cousin
they took all my lambos
Imagine the guy who posted it
Haha how the hell would u know it was from watching this video
Why pay taxes when central banks are just printing money
Woke
delay the inevitable for a minute
money is a illusion and taxes are for slaves
Literally
Because they have balls of steel, and we don’t.
What is the best strategy to enter crypto trading now for someone with more or less than $8000
You need a pro or very goodTrader. Someone like Jared Brian Watkins
Jared excels at capitalizing on economic shifts and I have confidence in his trades
Almost gave up trading due to constant losses, but Jared turned my luck around
Now they yield about $13000 monthly
How can I consult him
I dont even mind the taxes, but flagging crypto to crypto exchanging as short-term capital is ridiculous. I think they are trying to kill crypto by over taxation.
The governments are like emotional children right now. They have no idea how to find out anything much and prove anything, so they will just make the laws so vague like 'Have you bought crypto or received crypto'. Yes I have. I sold it all, made a loss - who knows what ledger I sent it to and who owns that ledger? They can't tax that other person - it's the end of the road in claiming tax for them...
@@dYanamatic explain this?
Its called taxation without representation on top of this the governemnt has no business what you do or how you spend/send your money. Usa is becoming a communist country. @@itzzjh__
I think you don't understand how capital gains work
Over-paying taxes doesn't make you a "good person." It makes you stupid. It makes us all stupid for allowing/voting the government to screw us.
screwed for thousands of years
Watch the video im alowed to rob you by larken rose
@@alukea123 thanks for the suggestion
government do shit with taxes, at least on my country you see the place is crumbling down. I pay 2000 in taxes every year for nothing
The Cabal, same people that are depopulating the planet as we speak is who you pay taxes to which is why they are trillionaires!
“Funds roads, police...” lol if only you knew how little percent of your tax dollars actually go to those things.
It's been like that for decades and you're only now realizing this lol
90% goes into the Govt Pension Funds.
Most of it is going to woke bullshit
If you think the amount of funding to roads and schools is bad, just wait until you find out how much we spend on endless foreign wars...
@@totalrobot shut up
Bitcoin is the beginning of something great a currency without a government.
That’s why you need a professional broker that we make trade and much profit for you, I recommend Olivia she has been trading for me for some years now and I’m very much comfortable with her.
Is this serious because I have been having loss in all my trades.
The profits in Olivia”s investment plan shows how selfless she is, and her expertise are wow.
Wow! I'm so surprised to see someone here who knows Olivia Investment my life changed for better through her platform
I don't know so much about Investments how do i get in touch with Olivia Greg?
Definitely my financial advisor
298 IRS agents disliked this video so far ....
But they loved all the money laundering leads they found in the comments, lol!
I live in Portugal; the portuguese gouvernment doesn't tax crypto-gains! *****
Gonna move there then irs what’s all my money
US taxes everything its complete bullshit smh
@@mlee9049 No, I'm dutch, living in Portugal
Yet...
Do you know if Spain does ?
Love the video. Subscribed! 7:28 , that was the most strained, attempt at a PSA I have ever seen in my life, even the camera laughed and went out of focus. Hilarious Bro.
Thanks for the tips!
I like your mindset and mentality, you’re also really funny man good work
Also, if you trade on a regular basis, it's much more convenient (and cheaper) to swap to stablecoins (usdt, DAI etc.) instead of cashing out
That is taxable
Great wisdom shared. Thank you.
Good stuff. Proper research done. 👍
This video is hilarious and dope!! Thank you💪🏽😂💯
"you should pay your taxes"
You lost me there
lol
Thats was more a disclaimer than a suggestion , so you don't sue him
If you are a US resident, there are many new rules on crypto tax reporting in 2021. For example if you are buying stuff with crypto from a store, it could be reportable. Even mining is sometimes a taxable event.
Yeah. Let's pay taxes to the government so they can use them and go on vacation like usual. Nahh
@@redsplayhouse2105 Or allow my sister-in-law to make babies, and stay on welfare and enjoy the good life.
Thank you for this video!
Thanks for sharing...
Very clear and precise
Thanks Dan! I’ve been waiting for this vid ever since you mentioned it in your past video.
Finally legit video with helpful information regarding taxes, not like any other video that repeats itself with "duh convert bitcoin in IRA tax free account" etc etc. Thank you! subscribed.
Appreciate your comment W~>H~>A~>T~>S~>A~>P~>P.
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Oh hey happy to see you like Nano!
Ton of information in concentrated form! Many thanks!!!
"You might as well pay taxes at that point" LMAO . You are hilarious! Also, I LOVE the crazy idea of having my own bitcoin ATM at my home ;) Awesome video!
Although, when you pay taxes - you're supporting the government, if you pay high fees - you're supporting exchanges and other crypto businesses. The question is, which ones you prefer supporting.
I'm really intrigued with this idea. How does the cash get into the atm though? I guess the company you bought it from stocks it with cash and you pay a fee for that?
@@Tennouseijin don't those businesses also track your cash being taken out and report that to the govt? If so, don't you technically have to claim that cash to the govt since it's US mint?
@@wadevid Sorry, I tried answering but youtube censorbots keep deleting my answers.
Great personality! Thanks for sharing!
Appreciate your comment W~>H~>A~>T~>S~>A~>P~>P.
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good stuff bro thank you!
Man.. I love your videos 👌🏼
Thanks for ur valuable shady financial advice
Success is about focusing Your energy on what creates results and using what you already know
I think you're awesome! Love your videos!
Very insightful video 💯💯💯
7:46 this guys face when he said "it's not illegal" just made me smile
DO WELL TO REACH OUT TO MY ADMIN. FOR MORE GAININGS IN CRYPTO/BITCOIN.
WHATS-app
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@@cryptokanoon7426 can I give you all my money
Not until the IRS show up and nails you for all that money.
@@crand20033 paying taxes is still illegal
You're funny and so smart. I love this video. Think you!! xoxo💋
Hi Dan. This video is hilarious, love it. The part were I put a Bitcoin ATM in my house cracked me up.
Thanks Dan💪🏽
"My wife is Taiwanese and I can use her passport-" (knock, knock knock) Dude you're a crackup.
This video is elite bro. I learned more from this video than 20 others combined
Thank you sir!
A+ nice work bro...thx
if you are wise , seize this opportunity and contact Mr Donemark today, stop looking around
and use the best trading system
i feel like some people look for rich quick scheme and loss alot
@@KIALOVE218 yeah
met expert mr donemark, last 2 years at a conference in uk,i invested $5,000 and traded in one month and make close to $30,000
i also introduced my neighbour to this easy system and she is so grateful after she started receiving her profits on a weekly basis%%
Do you know i invested with Donemark too,He charges 20% commission on profit made after every trading session and thats fair compared to the effect he put in making huge profit.
haha! I love your "potential ideas" and buying my own BTC ATM?? Oh my gosh I have to subscribe! :)
How would you get cash to load the atm though haha
Just btw, roads are paid with Gas Tax. Schools are paid with Property Tax. Federal Income Tax pays for one thing: the debt owed to the Federal Reserve, to service the loans used to pay for the US Military and Empire expansion.
You deserve an award for this video. Amazing.
Been amazing trading with pro trader Mr Corey for months now, he is the best and I must recommend him because he has helped me earn lots of profits trading bitcoins
@Coreytradings
Thank you bro
Thanks for your feedback. ___For more guidance
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Legend! "Set up your own BTC ATM at home and cash out!"
Appreciate your comment W~>H~>A~>T~>S~>A~>P~>P.
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Hahaha. You’re awesome 👏! Subbed.
Brilliant energy great video thank you for such groovy entertainment plus info directions 🖖👍🚀🙏
Care for bitcoin investment tips for good returns?
We take the risk, they take the money
Exactly, daytime robbery
Yeah that’s fucken bull shit
Dan, you're hilarious man! Thank you for all that you do, Keep up the great work!
Thanks for your feedback. ___For more guidance
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@@fullvaluesdan6462 76545tfhczf
Thanks for the video funny guy 😊💪👏
I had to subscribe😂😭 Good video
Hello what's the best way to get started with trade cos I've been making my personal research for a while now
I've lost nearly 4000 in my demo account, used allot of strategy I saw on youtube and read online, what advice do you have for me, which strategy should I focus on?
I'd advice not to use all strategy you watch or read online. different traders, different strategy. trying to put all together will only lead to you making more loss.
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hahahaaaa your a legend brother !! learnt so much from your other videos
Love you man.. You helped silently.. I wish there was something decentralized like similar to youtube.
There is, it's called "d.tube"
This video kept me entertained!
Thank you! Visit us at linktr.ee/fullvalueclub and be updlinktr.ee/fullvalueclubate.
Watching him attempt to explain and backpedal is cracking me tf up 😂😂😂😂
Literally!!!
Viewing your attempt ‘Miss Queenie’ to having an interesting and informative U Tube channel is cracking me up!😤😤
This guys great. love his Im saying something without saying something approach 😉😉😉😉😉
I like Dan the random internet guy....nice and informative dude!!
I did a kucoin account 2 days ago and did asked for id, proof of address etc, just as an update
They may ask, but it's not required. You can withdraw up to 2 BTC without KYC.
Lmao, “Buy bitcoin atm machine.”
“My girlfriend is Taiwanese and send it to her.”Oh man, I knew an Asian guy with glasses could come up with something I haven’t heard before. 😂 I would give you a 1000 thumbs up if I could. 👍👍👍👍👍
but how do you withdraw in usa without paying tax?
@@Innocentdude155 that’s why you use bitcoin atm which is untraceable for withdraw. Or like he said, just buy the machine, lol.
@@714boba2003 but how does the atm get refilled with money if it's in your home?
@@SamDustin0077 i was wondering same
@@SamDustin0077 this is my question. I would assume whoever you bougth the machine from would fill it and you would pay a "refill fee" maybe? idk. It's all so intriguing! Maybe Dan knows lol.
Wow you're a legend and funny asf subbed
I love this video. You're a stud.
Decentralize every service of government and abolish politicians
Care for bitcoin investment tips for good returns?
Ah, so young! Avoiding taxes: perfectly legal. Evading taxes: not so much.
He literally encourages people to do their stuff they dont want to report for taxes on a non kyc exchange but then cash out using a kyc exchange.
Thing is: The moment you link your identity in any way you are fuckd as soon as governments figure out to analyze on- chain data automatically. They do this already on small scale.
I will report this video for encouraging criminality. Not blaming the guy but this is dangerous.
@@heyhelmar Helmar da hater WTF bro! I’m not sure what the answer is but “reporting it” and being a Nark aint it!!
@@heyhelmar fuck the government, they didnt invent crypto why the fuck they think they have the right to take a portion of your crypto.
@@heyhelmar fucking karen
@@zectrixtv fucking Karen, my thoughts exactly
Interesting. Thanks
Thanks!
I like the way you think homie, subbed.
Why do you have a bitcoin ATM in your bedroom? Mind your own business.
Love the video 😁😂🤩
Dan, you’re the man!! Thanks for providing practical knowledge with 0 goofy hype.
Thank you so much
Great content....👍
You are funny! I like your perspectives on things. Thank for sharing ideas 🤣🤑😉
Wish I could like this video 100 times! Excellent job.
GOOD info
thanks dude
Btc atm...it’s better to ask for forgiveness than permission. It just might be crazy enough to work!
Care for bitcoin investment tips for good returns?
yea but their fees are enormous
@@Chris-qr8ng
mssg on watsap
@@Chris-qr8ng
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@@Chris-qr8ng not really I’m paying 7% I’ll pay 7% and not pay taxes 🤣🤣
"get some international friends"
Best workaround ever
How? For eg. some countries don’t recognize crypto does it mean routing the gains into those countries would help to not pay taxes to Uncle Sam? Will the transfer be easier?
What if your international friend runs off with your money ?
@@george25199 Marry your international friend intentionally ^^
@@Raterex That could make it worse lol
@@george25199 get a hitman
Who Dosent like this guy. How can anyone dislike him. So funny and knowledgeable
The Taxes man is a pain. Thanks for the video.
Funniest and one of the most informative videos I have watched on crypto. Definitely subscribing!:D
This is without a doubt the best video on the internet 😂
I bought a bticoin atm when you published this video since 6 month it solved all my problems. I have it in my bedroom and whenever I need money I just withdraw with no commission.
Join here Hdiscord.gg/SRjqWCJu6t
Thanks Dan
SOMETIMES ADVERSITY IS WHAT YOU NEED TO FACE IN ORDER TO BECOME SUCCESSFUL.
YOU DON'T MAKE MONEY ON FOREX OR CRYPTO BY HOLDING YOUR COINS RATHER YOU TRADE TO MAKE GAIN
MOST PEOPLE VENTURE INTO CRYPTO TO BE A MILLIONAIRE. MEANWHILE I JUST WANT TO BE DEBT FREE
JUST DO THE RIGHT THING BY TRADING WITH AN EXPERT
STOCK IS GOOD BUT CRYPTO IS BETTER
ITS STRANGE HOW PEOPLE TALK ABOUT THE PROFITS THEYVE BEEN MAKING THROUGH TRADING OF CRYPTO WHILE I M HERE NOT MAKING ANY PROFIT AT ALL PLEASE CAN SOMEONE PUT ME THROUGH ON THE RIGHT PATH
You got me with Uncle Sam dabbing 😂😂
He cappin ?
He funny asl 🤣 great video bro.
Dan!! this video is awesome. You gained a subscriber in me! Question. So around the 2 min 30 sec mark of this video, where the fiat on ramp like coinbase is mentioned...if you do all of your trading on a decentralized non kyc exchange---then transfer usdc to coinbase, then while in coinbase exchange for us dollars, technically there is no gain on that, and taxes arent imposed for this cash out? did i get that correctly. Since taxable events are only buys and sells when trading. ?
Thanks for the video Dan. How concerned should people be with filing an FBAR or not with Kucoin accounts holding more than $10,000 ? Certain websites are talking about freezing accounts and the serious penalties for not filing an FBAR. Can they really find out and do this if there was no KYC?
Thanks for your feedback.....for more guidance And making profit in CRYPTOCURRENCY INVESTMENT
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I'd like to know why the IRS should be entitled to anything we pay for with the money we receive after paying our taxes.
That is double taxation. IRS shouldn't get a damn thing.
BUT... we are THEIR slaves. And slaves work for their master.
ive been saying this for years now. people like you and me need to be more vocal about this nonsense. we need to speak up and let other like minded people hear our voices. apart we are nothing. together we are everything.
you are the best and deserve and award!!
You are the best. I love your courage. You are funny :)))
Great video. Your definitely red flagged now. You'll get those crypto tax papers on the next tax cycle. Lol
Yeah the government will get theirs one way or another
You had a subscriber when you said “you can have an atm machine in your home”.
yeah, i loved that bit
Wow this is amazing
I like these hypothetical ideas
Funny as hell!!!!
The world is changing! I'm glad to be part of that. The crypto had made so many millionaires already. It is the evolution of money, Thanks for making this very informative video I just subbed 👍
Cool. Sounds like you've got so much money from crypto, I'm new around here
@@reeceudochukwu3350 Yeah. I've made a lot! Investing, holding and trading crypto has been my decision ever
Crypto is the way to go 🎯🚀
@@riccardogiuseppe6635 that really sounds good, how do you go about taxes?
@@reeceudochukwu3350 First I thought of moving out of the US that can't be feasible atm but I've made my gains with the help of a financial consultant and its been easy peasy making money on investment.
I've built a good retirement portfolio and passive income
Props for knowing about Nano
Very informative and hilarious video.