Excellent divvy. My plan is to use the kinetics lending service. They will likely lend you funds then lock your assets in a collateral pool. Then proceed to get the loan covered by securing a percentage of your Delegation or staking rewards. Once loan is satisfied you get your collateral back. 1. Most likely not a taxable event. 2. An amount to fund a lifestyle without selling anything
Thank you Karl for simplifing Kinetics. I just printed out the white paper and about to read through it. I also listen to your YT channel and appreciate your input on FLR.
Make sure you at least stake them both on the Flare Network. Because you get basically get interest in those two coins and air drops. So if you have 10000 Flare, at the end of the year you'll have 15000 total. Easy money
already there. filing is voluntary....little known fact. they trick you into fillng so many ways....but its not mandatory. however, if you file, then you are required to pay
I love how Canada doesn't have long vs short term capital gains. Regardless of time spent holding, half of your capital gains gets counted as income. So I'm only gonna pay around 25% in tax. I can live with that
Calif. I paid 58k federal $28k state for pulling $250k lump sum. It was ridiculous. Short term gains with a sprinkle of long term.. BS if you ask me!!!
Would be good if you could do a video on SFIN & apsis both on the flare network. Very small supply on both and governance tokens. Not much info around about the two
I am very conscience about this tax thing im praying for the market to slow down. My FLR will not be over a year old until next Jan. Im afraid the F-asset will be out beforehand. I think the F-asset is FLR biggest and last catalyst I hope i am wrong
@@BA12288 I like the comment. Just not sure I follow the question. This isn't streamed. Upon rereading I think you're asking what editor I use to get the face in screen. Right now I am using Filmora, but sometimes I use Camtasia, or just IMovie. You have to spend time playing around until you find one you like.
A Trust may be the way to go...you can allocate your crypto to a crypto financial inst. that can exchange unlimited funds into your non taxable trust account they have on file. Yes, you pay for that service but a fraction of Cap gains and/or income tax.
It's a crypto trading platform that allows you to trade crypto with no capital gains taxes. They only charge one percent per trade as well, so it's a no brainer. You have to be at least sixty years of age and have five years in the fund before being able to cash out. As a note, there are several options of 401k funds to choose from. I chose a Roth 401k as a post tax option. Look them up, it's a fantastic trading option!
I don't understand how you DEFI but still be extorted to taxes in large sums? I thought defi and crypto is to be used to AVOID taxes. Maybe its jus me!
My exit is more an intro into gala music and film Buy a whales worth of nodes 100 nodes of music and film Then 50k worth of songs on their music platform
You can buy gold and silver with crypto currency with these large online dealers. Can that be an option for an exit strategy. If I were to sell my house, I may consider taking bitcoin for a peer to peer payment. Do you think the governments tax thiefs know what assets are in my wallet?
Hi Lawrence, I believe trading crypto for anything (including physical gold) is considered a taxable event in the USA. But always check with your tax guy of course.
John Tuld did cheat though. he knew exactly what MBS was doing and had to confront it with zachary quinto character. even spacey's character clarfies this when he tells tuld "well obviously your operating with more information than me" i watch that movie over the weekend sorry for the rant lol
@@DeFiDivvy yes yes I agree I'm just joking. Thank you for the video!! I made a channel web 3 reviews I'm waiting for verification to drop my first video Mainly going to talk gala music gala ecosystem, where I have made my best gains
@@davineharding5063 I’ve been advised that it requires a transaction to do it, and thus, is not its original token once wrapped… making it a change of asset transaction.
@@davineharding5063 "By wrapping the token, a taxable event occurs, and tax liability is created. In this scenario, the crypto owner would report a capital gain or loss depending on how much the asset has increased or decreased in value since its acquisition." Direct from about 10,000 google results.
I do long term. But its OG use case has too much regulation involved, and all the other use cases involve the XRPL playing catch up. That said. It still might fly ultra high this bull run!
Mai opțiunea mucety caun robot yncontyu uiți toțu vezi cifre mărfuri smekerya în biți e bany sau marfa supraevaluat mult dar continui pt rahatu de doi bani aste vynzy cumperi mult sile devy robot😮😢😅😮😮
Love that quote… if you’re the smartest in the room, you’re in the wrong room! ✨
Classic!
I tell my children this all the time. I learned a little late but I think they get it
I feel that way sometimes when I'm at work
Excellent divvy.
My plan is to use the kinetics lending service. They will likely lend you funds then lock your assets in a collateral pool. Then proceed to get the loan covered by securing a percentage of your Delegation or staking rewards. Once loan is satisfied you get your collateral back.
1. Most likely not a taxable event.
2. An amount to fund a lifestyle without selling anything
Taking out loans against your assets is not taxable.
@user-jt9fs8mq2o by saying most likely it keeps me from not giving tax advice.
Definitely going to look into this strategy. Thank Karl.
Thank you Karl for simplifing Kinetics. I just printed out the white paper and about to read through it. I also listen to your YT channel and appreciate your input on FLR.
@futuresbright8023 thankyou lots of crazy good things developing
Just buy SGB & FLR and hold if you’re a simple man like me. The loans part is already built into SGB.
Make sure you at least stake them both on the Flare Network. Because you get basically get interest in those two coins and air drops. So if you have 10000 Flare, at the end of the year you'll have 15000 total. Easy money
I hear this will be a movement for USA people to boycott paying taxes to these criminals. I might join if it becomes a big movement.
Yeah, Its time all of us stop paying tribute to an illegal, private organization that's bleeding us dry.
already there. filing is voluntary....little known fact. they trick you into fillng so many ways....but its not mandatory. however, if you file, then you are required to pay
I love how Canada doesn't have long vs short term capital gains. Regardless of time spent holding, half of your capital gains gets counted as income. So I'm only gonna pay around 25% in tax. I can live with that
That's not too bad!
Huh im in canada and i did not no they dont have short term can you send me link
@@blackjoebufa I just googled it
Are the staking rewards different based on which validator you stake with? I'm confused on this one
Calif. I paid 58k federal $28k state for pulling $250k lump sum. It was ridiculous. Short term gains with a sprinkle of long term.. BS if you ask me!!!
Total BS, and it gets way worse if you're cashing out over 400K
What are the possible targets for flr this year? And ideas?
0.55
Love your content. But the IRS does not exist anymore. We will only have a 15% consumer tax. We are finally free 🦋
A taxable event is changing the asset valuation structure,I think,simply wrapping wouldn't be taxable.
Wrap isn't a taxable event lol. That would be so gangster
FYI Bitcoin Cash is coming up because its halving is only about two weeks away..it's ahead of BTC on the calendar
Ah thanks Mike!
I’m moving to Germany. Zero crypto taxes 😊.
For now?
Only after one year holding
Would be good if you could do a video on SFIN & apsis both on the flare network. Very small supply on both and governance tokens.
Not much info around about the two
Thanks for the suggestion, and for watching!
You ever look into coreum?
whats up with coreum where is it going. not sure if it not a scam. what u think
As fare as I no you will be able to delegate xrp just like you delegate your flare, for me that’s the safest,
But when?
@@hapebeast6046 soon to be on songbird then onto flare by the end of the year
I am very conscience about this tax thing im praying for the market to slow down. My FLR will not be over a year old until next Jan. Im afraid the F-asset will be out beforehand. I think the F-asset is FLR biggest and last catalyst I hope i am wrong
Oh no, not “face melting “😂 I haven’t heard that one before. Definitely loading up on flr. Much better oracle than link
Is staking reward a taxable event?
Do you get a loan for the value or a portion of the value
Only a portion because the lender usually wants enough padding (LTV) for the asset to fall but still be worth more than the loan amount.
What platform do you stream this on? I make content too but can’t find a good one to have my face on it and screen share. Thanks!
I don't think so either. Someone said it was in a comment on another video.
You don’t know what one you do this on?
@@BA12288 I like the comment. Just not sure I follow the question. This isn't streamed. Upon rereading I think you're asking what editor I use to get the face in screen. Right now I am using Filmora, but sometimes I use Camtasia, or just IMovie. You have to spend time playing around until you find one you like.
Really useful content..thank you..!!
Glad it was helpful! Thanks for stopping in!
I'm moving to Portugal 🇵🇹 0% taxes if helf for over a year
Excellent conversation, thank you!
Glad you enjoyed it. Thanks Drew!
Amazing content as always 👏 ❤
Thank you 🙌
I barrowed against mine. Worked great until my financier (Celsius) went bankrupt. For defi, so far I have been most impressed with Pangolin farms.
Good to know about Pangolin. Thanks for letting us know!
I hope SGB will hit at least 1 usd
I would love that!
A Trust may be the way to go...you can allocate your crypto to a crypto financial inst. that can exchange unlimited funds into your non taxable trust account they have on file. Yes, you pay for that service but a fraction of Cap gains and/or income tax.
I have been hearing blockchain backer and Kevin Cage talk about Itrust capital, can you explain more about it?
I've heard a lot about ITrust. I'll take a look. Thanks for the suggestion.
It's a crypto trading platform that allows you to trade crypto with no capital gains taxes. They only charge one percent per trade as well, so it's a no brainer. You have to be at least sixty years of age and have five years in the fund before being able to cash out. As a note, there are several options of 401k funds to choose from. I chose a Roth 401k as a post tax option. Look them up, it's a fantastic trading option!
What happens if i send crypto to family in Africa to cash out? Then wire me the funds
No need to send them in Africa send them to me I can cash out all for you here..
We can borrow against the portfolio to finance income producng investments like real estate.
I like this idea. Worthy of deeper dives. All real estate is local as I am sure you know.
Evening Matthew !!!
Evening ETech!
Thanks for the Tax info and suggestions chur
Flare is always in red
I have a bag of sgb, hbar and grelf (meme on hbar chain), dca in order to get some link
I am glad I hold $LINK!
So what’s the price prediction for 2024 FLR?
I don't understand how you DEFI but still be extorted to taxes in large sums? I thought defi and crypto is to be used to AVOID taxes. Maybe its jus me!
In the USA you absolutely have to pay taxes, on any "taxable event"
Thank you MAtt 🙏🙏
My pleasure, Future. Thanks for stopping by again!
My exit is more an intro into gala music and film
Buy a whales worth of nodes
100 nodes of music and film
Then 50k worth of songs on their music platform
I am not sure how this avoids the tax hit. But it's very cool. I like GALA!
No tax under Gesara Nesara
You can buy gold and silver with crypto currency with these large online dealers. Can that be an option for an exit strategy. If I were to sell my house, I may consider taking bitcoin for a peer to peer payment. Do you think the governments tax thiefs know what assets are in my wallet?
Hi Lawrence, I believe trading crypto for anything (including physical gold) is considered a taxable event in the USA. But always check with your tax guy of course.
I did the loan against BTC with Celsius I didn't like it
John Tuld did cheat though. he knew exactly what MBS was doing and had to confront it with zachary quinto character. even spacey's character clarfies this when he tells tuld "well obviously your operating with more information than me" i watch that movie over the weekend sorry for the rant lol
Great content
Thank you!
or you can buy digital gold CGO on the xdc blockchain and volatility will be gone .
Switching from crypto to gold is a taxable event.
You forget you can give yourself a loan using flare
Which exchange is this?
Just move to a crypto friendly place
Hey don't bum me out talking about our overlords taking out bags before we even hit haha
It is a bummer. But it's a good problem to have. Preparing and having a plan could save you lots!
@@DeFiDivvy yes yes I agree I'm just joking. Thank you for the video!!
I made a channel web 3 reviews I'm waiting for verification to drop my first video
Mainly going to talk gala music gala ecosystem, where I have made my best gains
Alceva, diferit mulți aleargă după ani mărfuri, cyupesk, comisionul, astee realu syun sadlaryu myk 😮
You're mind me of Ted Nugget
Sometimes you gonna get higher
Sometimes you gotta start low
Some people think they gonna die someday
I got news you never got to go...
Realitatea e mult diferita vad multe am ograda de povety grele dar adevărate nufylme rasuflate bany sefac ff greu nymyk nu e sygur😮
Is wrapped flair the EXACT same thing as flare? NO. So that’s a transaction. And a transaction is a taxable event. Period.
Wrapping flare is NOT a taxable event
@@davineharding5063 I’ve been advised that it requires a transaction to do it, and thus, is not its original token once wrapped… making it a change of asset transaction.
@@davineharding5063 "By wrapping the token, a taxable event occurs, and tax liability is created. In this scenario, the crypto owner would report a capital gain or loss depending on how much the asset has increased or decreased in value since its acquisition." Direct from about 10,000 google results.
No, it's not lol@@davineharding5063
What are you an IRS TAX Karen??
GTFOH
Tax code 7702 - move it to a insurance policy
Looks interesting! But to live off it you have to take loans against it and pay back the loans with interest?
Remember Celsius
Sounds worthy of deeper dives!
Doesn’t anyone here believe in XRP?
I do long term. But its OG use case has too much regulation involved, and all the other use cases involve the XRPL playing catch up. That said. It still might fly ultra high this bull run!
Mai opțiunea mucety caun robot yncontyu uiți toțu vezi cifre mărfuri smekerya în biți e bany sau marfa supraevaluat mult dar continui pt rahatu de doi bani aste vynzy cumperi mult sile devy robot😮😢😅😮😮
E film de excrok😮😅
Flare iss tanking buddy ..Be mart and sell
Get out of this coin