4 ms·
What is the use case here? Why deal with the cap gains taxes associated with this?
by dforrestwilson 6y ago
What is the use case here?
Why deal with the cap gains taxes associated with this?
- johndevor 6y agoI mean a lot of people will probably have to sell assets to buy a Tesla anyway.
- deleted 6y ago[deleted]
- nikanj 6y agoMayhaps you have crypto funds that you've forgotten to report as income. Being able to get a brand-new car without having to involve IRS is a neat way to commit tax fraud.
- o_p 6y agoAww, poor IRS, it cannot steal our money anymore
- buildbuildbuild 6y agoThis is not accurate. Tesla is obligated to file IRS Form 8300 for all Bitcoin purchases over $10,000.
- bryanrasmussen 6y agowouldn't Tesla report the transaction?
- xiphias2 6y agoThe other option is to borrow USD against BTC to buy a Tesla (I just did that yesterday), but if loan-to-value goes over 80%, the companies will liquidate my BTC automatically. I'm just doing this because I'm speculating that we're just at the start of the next bubble in the cycle.
- wyck 6y agoLike all things bitcoin it's easy. It's a lot easier to press a button on your phone and transfer 100k then it is to go through the pains of a bank transfer or any other payment method. I know hacker news is American centric but not all counties have the same cap gains taxes, plus you have to actually have a gain to pay taxes and these are all sorts of ways to mitigate this.
- camjohnson26 6y agoFor now they’re only accepting bitcoin payments in America.
- TheDudeMan 6y agoLots of publicity from this. They will always be the first to have done this.
- TearsInTheRain 6y agoDo you keep enough money to buy a tesla lying around in straight cash?