6 ms·

> If you go to Newegg and buy stuff, you are obligated under US tax law to pay the capital gains taxes based on the fair market value of the products purchased.

by Akujin 9y ago

> If you go to Newegg and buy stuff, you are obligated under US tax law to pay the capital gains taxes based on the fair market value of the products purchased. If you go to a bitcoin meetup and sell with cash, you are still obligated to pay taxes. I recently bought a GTX 1080 TI with USD Amazon wanted to charge me 7%. Newegg charged me no state tax. Which do you think I went with? Like our president said. > "I'm smart for not paying taxes." - The president Source: https://www.cnn.com/2016/09/26/politics/donald-trump-federal-income-taxes-smart-debate/index.html https://www.cnn.com/2016/09/26/politics/donald-trump-federal... This is also why people shop in Delaware. I wonder how many of those people reported their purchases to Pennsylvania.

toomuchtodo 9y ago
> Amazon wanted to charge me 7%. Newegg charged me no state tax. You're legally obligated to remit that sales tax to your state Newegg didn't collect, and if you don't you're breaking the law. Avoiding taxes is legal, evading them is illegal. Edit: Announcing you’re evading taxes in a public forum that will eventually be archived just seems like a bad idea.
- maxerickson 9y ago
  In my state goods purchased from out of state are subject to use tax which has some differences with sales tax. (like you can pay an income based amount to cover small purchases up to some total rather than calculating the exact tax due)
koolba 9y ago
Newegg is not obligated to collect sales take from you if they don't have a nexus in your state. Amazon has a nexus almost everywhere and thus collects sales tax from you regardless of where you order from. That's only true for orders place with Amazon itself; independent sellers at Amazon are responsible for specifying their own taxes that will be collected. None of this, whether it's collected or not, eliminates your requirement to pay the sales or excise tax of your home State. In fact, if you go out of your way to order something or perform a transaction in a way that explicitly evades sales tax then you could be in legal trouble with your State's tax agency. They might not care about a $200 graphics card but they do go after large offenders. Here's an example: http://www.nj.com/mercer/index.ssf/2017/05/broker_from_princeton_charged_with_tax_evasion_ove.html http://www.nj.com/mercer/index.ssf/2017/05/broker_from_princ... > > "I'm smart for not paying taxes." - The president Source: https://www.cnn.com/2016/09/26/politics/donald-trump-federal.. https://www.cnn.com/2016/09/26/politics/donald-trump-federal.... > This is also why people shop in Delaware. I wonder how many of those people reported their purchases to Pennsylvania. Avoiding paying taxes through legal means is smart. Evading paying taxes is illegal.
- Akujin 9y ago
  Yea.... I'm sure you report all your purchases at the duty free as soon as you get to American soil.
  - toyg 9y ago
    Duty-free goods have special dedicated legislation in most countries, I assume in the US too.
    - dmoy 9y ago
      Up to like $800 or something, unless I'm confusing it with yet-another-limit in the tax code.
jgh 9y ago
You're not smart, you're an asshole and probably deserve to go to jail if you're evading significant taxes. You live in a society, you were raised in a society, and you've benefitted from society's investments in things such as the internet that have facilitated your ability to gain wealth via Bitcoin. So please, spare us the libertarian horseshit. People like you just want to take, take, take.
- Akujin 9y ago
  I vote liberal actually. It's odd..... you write down an opinion and people make all these ideological assumptions. Maybe just chill the fuck out for two seconds and be a little bit introspective on why you get so mad when a stranger speaks his or her mind?
  - searine 9y ago
    Maybe don't steal from your neighbor by dodging taxes?
  - castis 9y ago
    Your first mistake was thinking HN might be a haven for opinions and introspection. Schadenfreude on the other hand...
    - jgh 9y ago
      I'm sorry but no amount of introspection is going to make me go "You know what, he shouldn't pay his taxes!" As for schadenfreude I have no qualms about people getting rich with bitcoin, good for them. People get rich lots of different ways. Just pay your goddamn taxes. I do and I didn't even grow up in the US.
  - kolbe 9y ago
    >I vote liberal So, you're the worst type of person in the US. You want high taxes for everyone else, but you do everything you can to avoid them for yourself. Please do actual liberals a favor, and don't tell anyone you're a liberal. You're not, and we don't want our genuine attempts to improve the world to look like we're just self-serving thieves.
UncleMeat 9y ago
Why do you think we are supposed to have sympathy for tax evaders? The debt is shared. I have to pay to cover your evasion.

by Akujin 9y ago

toomuchtodo 9y ago

> Amazon wanted to charge me 7%. Newegg charged me no state tax. You're legally obligated to remit that sales tax to your state Newegg didn't collect, and if you don't you're breaking the law. Avoiding taxes is legal, evading them is illegal. Edit: Announcing you’re evading taxes in a public forum that will eventually be archived just seems like a bad idea.

maxerickson 9y ago
In my state goods purchased from out of state are subject to use tax which has some differences with sales tax. (like you can pay an income based amount to cover small purchases up to some total rather than calculating the exact tax due)

koolba 9y ago

Newegg is not obligated to collect sales take from you if they don't have a nexus in your state. Amazon has a nexus almost everywhere and thus collects sales tax from you regardless of where you order from. That's only true for orders place with Amazon itself; independent sellers at Amazon are responsible for specifying their own taxes that will be collected. None of this, whether it's collected or not, eliminates your requirement to pay the sales or excise tax of your home State. In fact, if you go out of your way to order something or perform a transaction in a way that explicitly evades sales tax then you could be in legal trouble with your State's tax agency. They might not care about a $200 graphics card but they do go after large offenders. Here's an example: http://www.nj.com/mercer/index.ssf/2017/05/broker_from_princeton_charged_with_tax_evasion_ove.html http://www.nj.com/mercer/index.ssf/2017/05/broker_from_princ... > > "I'm smart for not paying taxes." - The president Source: https://www.cnn.com/2016/09/26/politics/donald-trump-federal.. https://www.cnn.com/2016/09/26/politics/donald-trump-federal.... > This is also why people shop in Delaware. I wonder how many of those people reported their purchases to Pennsylvania. Avoiding paying taxes through legal means is smart. Evading paying taxes is illegal.

Akujin 9y ago
Yea.... I'm sure you report all your purchases at the duty free as soon as you get to American soil.
- toyg 9y ago
  Duty-free goods have special dedicated legislation in most countries, I assume in the US too.
  - dmoy 9y ago
    Up to like $800 or something, unless I'm confusing it with yet-another-limit in the tax code.

jgh 9y ago

You're not smart, you're an asshole and probably deserve to go to jail if you're evading significant taxes. You live in a society, you were raised in a society, and you've benefitted from society's investments in things such as the internet that have facilitated your ability to gain wealth via Bitcoin. So please, spare us the libertarian horseshit. People like you just want to take, take, take.

Akujin 9y ago
I vote liberal actually. It's odd..... you write down an opinion and people make all these ideological assumptions. Maybe just chill the fuck out for two seconds and be a little bit introspective on why you get so mad when a stranger speaks his or her mind?
- searine 9y ago
  Maybe don't steal from your neighbor by dodging taxes?
- castis 9y ago
  Your first mistake was thinking HN might be a haven for opinions and introspection. Schadenfreude on the other hand...
  - jgh 9y ago
    I'm sorry but no amount of introspection is going to make me go "You know what, he shouldn't pay his taxes!" As for schadenfreude I have no qualms about people getting rich with bitcoin, good for them. People get rich lots of different ways. Just pay your goddamn taxes. I do and I didn't even grow up in the US.
- kolbe 9y ago
  >I vote liberal So, you're the worst type of person in the US. You want high taxes for everyone else, but you do everything you can to avoid them for yourself. Please do actual liberals a favor, and don't tell anyone you're a liberal. You're not, and we don't want our genuine attempts to improve the world to look like we're just self-serving thieves.

UncleMeat 9y ago

Why do you think we are supposed to have sympathy for tax evaders? The debt is shared. I have to pay to cover your evasion.