Any way to reduce capital taxes or just bite that bullet?
I'll be in JP in a about a week
vpn
never really thought bout that. how safe would it be tho. don't want to have my s*** locked up somewhere. how would taxes work
Any way to reduce capital taxes or just bite that bullet?
No
No
Just researched, and anyone who held for more than a year is most likely only subjected to 10% tax rate depending on income bracket.
Just researched, and anyone who held for more than a year is most likely only subjected to 10% tax rate depending on income bracket.
Maybe idk
I only have capital losses
Any way to reduce capital taxes or just bite that bullet?
Take out a loan instead
Take out a loan instead
I saw that method briefly. Do you have an article or link that could explain that more?
I saw that method briefly. Do you have an article or link that could explain that more?
Borrowing against your crypto generally isn’t considered a taxable event, unlike selling your assets, which could trigger capital gains tax. This means you can access cash without directly affecting your tax liability.
For example on a defi platform like Aave, when you take out a loan, you must deposit cryptocurrency as collateral. The Loan-to-Value (LTV) ratio is the amount you can borrow against this collateral. For example, if the LTV is 75%, you can borrow up to $75 for every $100 worth of crypto you deposit. If the value of your collateral decreases to where it approaches this ratio, you'll need to add more collateral or repay part of the loan to avoid liquidation.
So you need to be careful and fully understand what you're doing but can be useful if you only need a little bit of liquid capital and know you can pay it back at all times
Borrowing against your crypto generally isn’t considered a taxable event, unlike selling your assets, which could trigger capital gains tax. This means you can access cash without directly affecting your tax liability.
For example on a defi platform like Aave, when you take out a loan, you must deposit cryptocurrency as collateral. The Loan-to-Value (LTV) ratio is the amount you can borrow against this collateral. For example, if the LTV is 75%, you can borrow up to $75 for every $100 worth of crypto you deposit. If the value of your collateral decreases to where it approaches this ratio, you'll need to add more collateral or repay part of the loan to avoid liquidation.
So you need to be careful and fully understand what you're doing but can be useful if you only need a little bit of liquid capital and know you can pay it back at all times
So what your saying I can use my crypto as collateral to buy more crypto
never really thought bout that. how safe would it be tho. don't want to have my s*** locked up somewhere. how would taxes work
Just use a VPN you’ll be good
Use NORD VPN
POOR
Honestly been wanting to go to Japan for a while, and I think this is a good time for me to pull and fund that s***. I'm young and I can make more money with crypto
feel you yeah been thinking about going to chile for a few months with some of my gains
also wanna see japan tho
Honestly been wanting to go to Japan for a while, and I think this is a good time for me to pull and fund that s***. I'm young and I can make more money with crypto
ive been living back in the homeland for like 8 months cruising off crypto going to japan next month and korea for Milady rave
Honestly been wanting to go to Japan for a while, and I think this is a good time for me to pull and fund that s***. I'm young and I can make more money with crypto
ngl I had the same thought in bed last night. Selling and going to Japan
But I'm gonna ride the bull in full and wait