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199 sats \ 5 replies \ @freetx 17 Jan \ on: Capital gains tax rates across countries crypto

also not only allowed $41,675 profits before having to pay taxes

Not quite accurate.

Here is the full list

This is a graduated tax. So if you cashout $150K of long-term cap-gains, the first $96.7K would be 0% (if you are married) and the following $53.3K would be taxed at 15%, so the aggregate tax would be 5.3%

21 sats \ 1 reply \ @elvismercury 17 Jan

Are those graduation rates based only on what you cash out for cap gains purposes? For instance, in the scenario you described (cashing out $150k) are those rates accurate regardless of what your income level (and tax bracket) is?

I've never understood this and googling has produced results that are still ambiguous.

40 sats \ 0 replies \ @freetx 23h

Yes, I think those numbers are taxable income. So if you're already receiving a salary that it will push you into a higher bracket, I suppose....

10 sats \ 2 replies \ @cryotosensei OP 17 Jan

Woah that’s a very fine comb.

Am I right to say that as a married man, I can file under Head of Household instead of Married filing separately to save marginally on taxes - if my wife doesn’t invest in Bitcoin?

85 sats \ 1 reply \ @endothermicdev 17 Jan

I believe head of household just means you have at least one dependent living with you, a child for instance, and no one else is claiming them on their taxes.

0 sats \ 0 replies \ @cryotosensei OP 17h

Thanks for the clarification