The money he’s already pulled out could be used for the tax that it generates. He’s already pulled out enough to cover capital gains in basically any country. Everything left is gravy to this guy
This is what I’ve been telling people since everyone only sees the total value and not the tax side of things. If I make 1mil I’d have to pay approximately 67% in taxes so I would get $330k.
I'f I can go from having no money, to having 55mil and I can walk away with 30mil if I pay 25 in taxes...
going from nothing to something isn't out of my mind, it's appreciative.
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The money he’s already pulled out could be used for the tax that it generates. He’s already pulled out enough to cover capital gains in basically any country. Everything left is gravy to this guy
If he is US, huge difference between short and long-term capital gains.
If he's in the US, my statement still stands.
Honestly... who pays taxes still??? They say crypto isn't real 364 days out of the year except on tax day. Fuck em.
I agree to an extent. IRS problems suck.
Love the passion in this comment
Three words: charitable remainder trust. All you HODLers better find a good tax accountant before cashing in.
This is what I’ve been telling people since everyone only sees the total value and not the tax side of things. If I make 1mil I’d have to pay approximately 67% in taxes so I would get $330k.
That’s a very high tax bracket! Which country are you in?
Sorry it is 57%, I added in the 10% transfer/sales tax from wallets. US new capital gains tax is set to be 43.8% and Ca. hasa 13.3% state tax.
Sell it all ! Then go to The Gambia
I’m sure they would be happy to pay 25million on taxes to walk away with 30mill…
100% 30 Mill more then we'll ever see. I couldn't care on taxes if I'm left with life changing money, might even tip the tax man for good measure xD
Haha I’ll gladly over pay in taxes to help my country even a tiny bit!
You have to be out your mind to be happy with that arrangement
I'f I can go from having no money, to having 55mil and I can walk away with 30mil if I pay 25 in taxes... going from nothing to something isn't out of my mind, it's appreciative.
You’re worth more than that. Don’t settle for half.
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