I appreciate the enthusiasm lol....we all have to take charge for ourselves, have hopes the more I share my sacrifices to move fully to crypto more will feel no fear to adopt fully and get this movement steem rolling ahead. Really thank you for the support on this one
Your a saint my friend haha this is why I love steemit. Thanks for sharing that as you have - I want to do the same and I'm actually scared.. I have the crypto to do it but the double taxation for me in NYC is keeping me from moving all of it over every time. Keep us updated here on your journey I'm going to learn from your ways!
Trust me I was scared as well, it was a huge risk to finally say I am done but it seems so far more beneficial than negative, well so far...God knows what the government will do later on but we are in the legal clear for the moment to boost ahead with crypto. How do they double tax you? That is not cool at all and unconstitutional. Are they taxing you on buy ins and sell offs in NY now? Australia had that issue and the people there made a stink about it and I believe now they are getting that changed.
haha you're a brave dude! Time will only tell there, thats true right now is time to get after it while we can. It sucks, not so much there taxing crypto its my state of income plus crypto because I'm self employed..
25 - 30% income tax
15% NY self employment tax
15% Capital Gains on Crypto (the two 15%'ers are where I feel the burn)
For now its just a killer storage of value for me - honestly better I don't touch it for now lol its been paying off well these last few years ;)
I guess you would say I am self employed but FL hasn't yet called crypto monetary, they are working towards that in legistlation but for now I don't have to have a business licence for trading, mining, and blogging here. They get ya when you turn it to fiat but that I have to worry about at the end of the year and just proclaim my earnings. That will probably hit me hard so I am trying to accumulate a little side Bitcoin to cash out to pay them idiots lol
I appreciate the enthusiasm lol....we all have to take charge for ourselves, have hopes the more I share my sacrifices to move fully to crypto more will feel no fear to adopt fully and get this movement steem rolling ahead. Really thank you for the support on this one
Your a saint my friend haha this is why I love steemit. Thanks for sharing that as you have - I want to do the same and I'm actually scared.. I have the crypto to do it but the double taxation for me in NYC is keeping me from moving all of it over every time. Keep us updated here on your journey I'm going to learn from your ways!
Trust me I was scared as well, it was a huge risk to finally say I am done but it seems so far more beneficial than negative, well so far...God knows what the government will do later on but we are in the legal clear for the moment to boost ahead with crypto. How do they double tax you? That is not cool at all and unconstitutional. Are they taxing you on buy ins and sell offs in NY now? Australia had that issue and the people there made a stink about it and I believe now they are getting that changed.
haha you're a brave dude! Time will only tell there, thats true right now is time to get after it while we can. It sucks, not so much there taxing crypto its my state of income plus crypto because I'm self employed..
25 - 30% income tax
15% NY self employment tax
15% Capital Gains on Crypto (the two 15%'ers are where I feel the burn)
For now its just a killer storage of value for me - honestly better I don't touch it for now lol its been paying off well these last few years ;)
I guess you would say I am self employed but FL hasn't yet called crypto monetary, they are working towards that in legistlation but for now I don't have to have a business licence for trading, mining, and blogging here. They get ya when you turn it to fiat but that I have to worry about at the end of the year and just proclaim my earnings. That will probably hit me hard so I am trying to accumulate a little side Bitcoin to cash out to pay them idiots lol