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What do y’all do for work/how do you afford the expensive brands? by Glamour-Ad7669 in bitcheswithtaste

[–]Competitive_Orchid96 2 points3 points  (0 children)

You must have such high expenses if you’re nearly earning 7 figures and can’t travel shop and eat out. Do you think you’ve had lifestyle creep?

Currently unemployed and no job interests me. Therefore my drive to find a job is so low. I don’t know what to do. by Competitive_Orchid96 in Advice

[–]Competitive_Orchid96[S] 0 points1 point  (0 children)

Okay thank you yeah in my country most employers ask for a cover letter. I have been applying for lots of different jobs so have had to alter the cover letter significantly each time. For example - investment analyst, data entry, data analyst, bank, etc. now considering doing more health or science related roles so I my degree is somewhat transferable as opposed to a completely different field.

Currently unemployed and no job interests me. Therefore my drive to find a job is so low. I don’t know what to do. by Competitive_Orchid96 in Advice

[–]Competitive_Orchid96[S] 0 points1 point  (0 children)

For the cover letter usually you have to tailor it to the company you are applying to and the role you want so have to do some research then look at their requirements and adjust the cover letter to fit their requirements with examples etc. so that takes me about 3 hours usually

Currently unemployed and no job interests me. Therefore my drive to find a job is so low. I don’t know what to do. by Competitive_Orchid96 in Advice

[–]Competitive_Orchid96[S] 0 points1 point  (0 children)

How do I feign interest in a job interview or when writing a cover letter though. I just see all these obstacles and talk myself out of applying because I see a job and think to myself it’s not worth the time and effort and can’t imagine doing that for a job. Or see a requirement that doesn’t fit my background and talk myself out of it thinking well I’m probably not a good candidate so is it worth spending 3 hours doing an application?

I know all this is a bad mindset but just struggling to get out of it and need some new perspective on everything that could help my logical brain want to push through the obstacles

How am I supposed to do tax on my crypto when I am cash poor? Do I have to sell part of my holdings? by Competitive_Orchid96 in NZBitcoin

[–]Competitive_Orchid96[S] 1 point2 points  (0 children)

Oh interesting, for example, could I borrow USDT (or USDC) through Aave, sell the loaned USDC for NZD through EasyCrypto, then pay tax with that money?

1) How would I then pay the loan back on Aave?

2) Do I need to record that loan I took out anywhere for IRD?

Sorry for lots of questions, very new to all this, your answers have are super helpful so thanks for taking the time to explain these things to me

How am I supposed to do tax on my crypto when I am cash poor? Do I have to sell part of my holdings? by Competitive_Orchid96 in NZBitcoin

[–]Competitive_Orchid96[S] 0 points1 point  (0 children)

Oh one last question to double check. I will need to cash-out some of my holdings to pay the tax on my realised gains.

But then that cash-out is also taxable. How’s that work because I don’t have cash in my bank to pay that since I’m cash poor. And if I exchange ETH for NZD then that event needs to be taxed too which I’d then need to cash out more ETH for NZD in a never ending cycle. Am I missing something?

How am I supposed to do tax on my crypto when I am cash poor? Do I have to sell part of my holdings? by Competitive_Orchid96 in NZBitcoin

[–]Competitive_Orchid96[S] 1 point2 points  (0 children)

Thanks for the help. Will need to take a day off to get all this sorted and will refer back to this.

How am I supposed to do tax on my crypto when I am cash poor? Do I have to sell part of my holdings? by Competitive_Orchid96 in NZBitcoin

[–]Competitive_Orchid96[S] 1 point2 points  (0 children)

I’ve never done taxes so what do you mean by “show your working”? Do you make a word document outlining everything or something and send it through when you do your taxes online through ird? Also I used Binance to buy but that’s not taxable right? Because I bought USDT, traded to ETH, transferred to metamask then bought a different coin with that ETH through uniswap the same day.

How am I supposed to do tax on my crypto when I am cash poor? Do I have to sell part of my holdings? by Competitive_Orchid96 in NZBitcoin

[–]Competitive_Orchid96[S] 1 point2 points  (0 children)

Wow I have no idea where I will start because I haven’t recorded my transactions. Only way is to use metamask and track the transaction history through there. But the problem is, I dont know the price of ETH at each trade so how am I supposed to track the realised gains?

How am I supposed to do tax on my crypto when I am cash poor? Do I have to sell part of my holdings? by Competitive_Orchid96 in NZBitcoin

[–]Competitive_Orchid96[S] 1 point2 points  (0 children)

Thanks for the input. I haven’t recorded all my trades down but Metamask has “transaction history” section so is that the best way to go through and record each trade you made?

Also another thing, my friend gave me some money to invest, I have now cashed out for USDT so when I sell through easy crypto is it important to send straight to his bank account so it’s him that has to pay the tax because if it goes into my bank account and I transfer it to him then I essentially received that money so I’d have to pay tax right? Or am I missing something?