Question: How do you avoid paying taxes with Bitcoin?
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Buy without KYC. Learn to use Bisq and/or Robosats. This way all bitcoin is bought outside of any jurisdiction of a state and now you are not in any contract. However, if you buy your bitcoin with KYC, you are in contract with the state via the company's KYC policies and you need to pay your tax.
Once you declare Bitcoin in your taxes, the IRS/CRA can require disclosure of your stack. Hard to avoid this even if most of your stack is no-KYC. Risk of a misstep and getting tagged with evasion is not 0.
You can't "evade" if you are not in contract with them. Each year is a new year to contract. Also, it is impossible for anyone to know of your stack if it is all non-KYC. Bitcoin gained via the ethos on how it was created - not to be involved with governments - then it is "FUCK YOU" money.
Moreover, one must study Equity Jurisprudence to have success in managing their presentments or offers once you are no longer in contract with them.
Interesting POV.
One common strategy is to avoid taxable events.
Don’t Sell
Sell or use as money in limited amounts
Sell or leverage in other jurisdictions.
Using the bitcoin isn’t the problem it’s using/ converting / buying fiat currencies that creates issues
Buy without kyc. Spend with crypto cards, registered with ID from tax free jurisdiction- Panama, Paraguay, Georgia etc
Live in Paraguay haha
Very good question!
I would buy without KYC, build a trusted network of people where you can buy bitcoin for cash or vice versa.
Get paid in bitcoin.
Sell your second hand stuff for bitcoin.
Very underrated question.
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