5 ms·

With something that averages 200% a year growth, you really can just deposit your gains in your bank and pay your taxes with a smile.

kinghajj 5y ago
Especially for us old-timers; gotta love that long-term capital gains tax rate! Set aside some of the gains into a high-yield savings account for making estimated tax payments, pay off some small debts, buy a couple nice things, and put the rest into a brokerage account to buy Vanguard ETFs.
- BitwiseFool 5y ago
  Isn't Joe Biden planning to make the top capital gains rate the same as the short term rate?
  - kinghajj 5y ago
    For long-term capital gains above $1m, yes. I'm not lucky enough (yet?) for that to apply to me this year anyway. Plus, that change would probably apply from 2022 onwards, so there's a chance that if another crypto bull run happens later this year (a la 2013), one could still cash out gains under the current rate structure. I also wouldn't be surprised if there's some negotiation with Republicans to raise the proposed bracket from $1m to $5-10m: pull out enough sad old widows with homes that have appreciated $1.5m+ such that the $250k exemption would still put them in the $1m+ bracket, etc.
  - standardUser 5y ago
    Only for households with earnings over $1 million. So no, not for the vast majority of people.
DonHopkins 5y ago
Seriously, SPAM KING Richard J Schueler, did you pay taxes on all the money you made with all the Viagra spamming you did from Panama, and all your shitcoin shilling and lying about HEX being a CD, when you should have called it HOAX? And did you do it with a smile, just like you lie so easily to all your victims with a smile? As the winner of the "Golden Pump Award" for "Best New Scam" for "HEX", and as one of the first people in the world to be successfully sued for online spam, specifically the Viagra spam scheme that you ran from Panama (which you lost, under your previous name "Richard J Schueler"), you could personally solve scams by ceasing and desisting your shilling of HEX, and your recruiting of unsuspecting developers to work on it, and your illegal false claims of providing CDs (certificates of deposit).

kinghajj 5y ago

Especially for us old-timers; gotta love that long-term capital gains tax rate! Set aside some of the gains into a high-yield savings account for making estimated tax payments, pay off some small debts, buy a couple nice things, and put the rest into a brokerage account to buy Vanguard ETFs.

BitwiseFool 5y ago
Isn't Joe Biden planning to make the top capital gains rate the same as the short term rate?
- kinghajj 5y ago
  For long-term capital gains above $1m, yes. I'm not lucky enough (yet?) for that to apply to me this year anyway. Plus, that change would probably apply from 2022 onwards, so there's a chance that if another crypto bull run happens later this year (a la 2013), one could still cash out gains under the current rate structure. I also wouldn't be surprised if there's some negotiation with Republicans to raise the proposed bracket from $1m to $5-10m: pull out enough sad old widows with homes that have appreciated $1.5m+ such that the $250k exemption would still put them in the $1m+ bracket, etc.
- standardUser 5y ago
  Only for households with earnings over $1 million. So no, not for the vast majority of people.

DonHopkins 5y ago

Seriously, SPAM KING Richard J Schueler, did you pay taxes on all the money you made with all the Viagra spamming you did from Panama, and all your shitcoin shilling and lying about HEX being a CD, when you should have called it HOAX? And did you do it with a smile, just like you lie so easily to all your victims with a smile? As the winner of the "Golden Pump Award" for "Best New Scam" for "HEX", and as one of the first people in the world to be successfully sued for online spam, specifically the Viagra spam scheme that you ran from Panama (which you lost, under your previous name "Richard J Schueler"), you could personally solve scams by ceasing and desisting your shilling of HEX, and your recruiting of unsuspecting developers to work on it, and your illegal false claims of providing CDs (certificates of deposit).