Comment by lm28469
7 months ago
The state takes a flat 30% tax on capital gains regardless of the source, I'd say they paid their fair share
7 months ago
The state takes a flat 30% tax on capital gains regardless of the source, I'd say they paid their fair share
Depends on if they cashed out and how they did it. There was a big trend for a while to go live in Portugal for a while, enough to be considered a tax resident there, and then cash out there because (at the time, idk if it's still true), they had no (or little) tax on crypto cash out.
Yeah, I know two French people who did it (one of them avoided UK taxes as he was paid in crypto while working in the UK, the other it's muddier). I know three people in the space, and only those two were on the financial side, so to me, while Blockchain is still a legit tech, anybody using cryptocurrency I peg as a tax evader.
Good thing we have courts, lawyers and judges for that. It’s funny everyone here hates on Trump but as soon as something align with their view, they want a defacto no due process application.
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Which state are you talking about? The 0% tax bracket for long-term capital gains in the U.S. for 2024 for single filers was $47,024, never mind the standard deduction. Then it goes up to 15%, then 20%.