CryptoGOV

15 August 2023 22:11

Religion goes to strape unless comparing it to government or something

CryptoGOV

15 August 2023 21:49

The way the tax code is id rather just give my life to jesus

CryptoGOV

15 August 2023 21:44

Im finding the ultimate success through through the lord

CryptoGOV

14 August 2023 22:42

well, if you don't remember your password and the email you used to create the account is lost, how would you confirm password changes, verifications, etc? Write it down and secure it

CryptoGOV

14 August 2023 04:22

correct - this is something you must get right the first time, otherwise you will regret forever

CryptoGOV

14 August 2023 02:13

correct, the devil is in the details, so anyone considering early roth IRA withdrawals as part of an early retirement plan will want to do their research and plan things out in advance.

CryptoGOV

13 August 2023 16:40

Oh wel. I live in Puerto Rico

CryptoGOV

13 August 2023 16:37

Any distribution from your IRA before age 59.5 is fined heavily. Any distribution made after that age is only taxed if you have a traditional IRA. Roth IRA distributions made after 59.5 are not taxed. You can also start to take some out of a Roth IRA after 5 years, but only up to the contribution amounts, not the growth. You will want to research that in more detail to understand the nuances there.

CryptoGOV

13 August 2023 15:44

I am currently using DirectedIRA.com. I will look into it. Thanks!

CryptoGOV

13 August 2023 14:35

You will want a Self Directed IRA LLC. This is an IRA Custodian who will create an LLC that is wholly owned by the IRA and will allow you to hold any type of asset that is allowed by the IRS tax code for an IRA type account. You would be manager (uncompensated) of that LLC with checkbook control. You would open an institutional centralized exchange account to convert fiat to crypto, then you can create a Metamask wallet wholly owned by your IRA to transfer the crypto into. If you use a hardware wallet, it shoudl be purchased by the IRA with IRA funds, not given to the IRA by yourself (that is self dealing which is a major no-no).

CryptoGOV

12 August 2023 04:03

I will send you some info in a bit.

CryptoGOV

16 April 2022 02:27

100% please teach me the ways 🤣 fuck my country and taxes

CryptoGOV

16 April 2022 01:03

https://finance.yahoo.com/news/irs-waves-white-flag-lawsuit-132200079.html

CryptoGOV

15 April 2022 23:00

so if you own crypto already & never been to puerto rico, it’s pointless to move there then? PR tax benefits only apply to those who buy digital assets during their PR residency ?

CryptoGOV

15 April 2022 21:46

Then your life will end & U should jump off a bridge.

But seriously, that overpayment will get spotted when U finalize your return & at that point U request a refund. This is basic stuff. R U young or new to America?

CryptoGOV

15 August 2023 22:02

And Jesus wants you to use commonsense. We've come full circle. Please carryon.

CryptoGOV

15 August 2023 21:45

Let the lord help you by allowing your own commonsense to rule the day.

CryptoGOV

15 August 2023 21:42

If U forget that email account address, U will have a major uphill battle (at a minimum) accessing that info. This is just plain commonsense.

CryptoGOV

14 August 2023 22:23

I signed up for koinly and created a gmail account to sign up if i forget that gmail account do i lose access to koinly?

CryptoGOV

14 August 2023 03:29

There is a work around to the ROTH IRA withdraw penalties. It is called a SEPP. It is short for Substantially Equal Periodic Payments. SEPPs work but they are risky and can also really screw up your finances. If SEPPs interest you do a consultation with a CPA; this is not something you want to do on your own, talk to a tax professional.

CryptoGOV

14 August 2023 00:49

The withdraw penalty for roth iras is only 10% (on the growth), which is still way less then capital gains or income taxes.

CryptoGOV

13 August 2023 16:38

So, the funds contributed to the IRA need to stay in the IRA and should be invested to grow until retirement age. When you get to retirement, then you have to decide the order in which to spend down your savings from taxable, tax deferred and tax exempt sources.

CryptoGOV

13 August 2023 16:28

Can you spend the money from the IRA or do you have to wait till retirement?

CryptoGOV

13 August 2023 14:35

RocketDollar, SDIRA.com are two providers of such services. There are others out there as well if you do some google research

CryptoGOV

13 August 2023 13:06

Hey Drew, I am interested in that as well. I have an IRA currently on a CEX and didn’t know that I could self-manage it on a decentralized exchange. Kindly point me to further information if you could, many thanks!

CryptoGOV

12 August 2023 04:03

Ok interesting, I should do that. Does Coinbase provide for this type of service?

CryptoGOV

16 April 2022 02:07

Dang i did not know this i thought it was just when you physically cash out to the bank, so use koinly or cointracker to track ur dex swaps right?? Damn this is bs

CryptoGOV

15 April 2022 23:13

Just pay your taxes and move on guys they go towards making your country a better place 😁

CryptoGOV

15 April 2022 22:14

No i only have 85 iq....but how long does overpayment refund take? Months?

CryptoGOV

15 April 2022 21:15

Thank you for your valid input haha.