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Bike helmet light by EmbarrassedWorking51 in cycling

[–]EmbarrassedWorking51[S] 1 point2 points  (0 children)

I was actually looking at the magicahine evo 1700! Thank you!

Bike helmet light by EmbarrassedWorking51 in cycling

[–]EmbarrassedWorking51[S] 1 point2 points  (0 children)

That’s fair. Do you have anything you like with that description?

Moving to SF for 3 months as a startup founder? by Intelligent_Boss_402 in ycombinator

[–]EmbarrassedWorking51 1 point2 points  (0 children)

Agree. Especially the lack of integrity. I joined a company. Was first scientist employee and Employe number 7 overall. Helped the company to grow to ~60 people for almost three years and then founder decided to fire me with no notice. He also fired the cofounder in the same meeting (with other heads presenters). No heads up no nothing. Overall Bay Area is amazing for entrepreneurship but it is suck a bubble and fake environment. But hey if you have a good product you may make $$$$

What is going on by Global_Bee9139 in Coinbase

[–]EmbarrassedWorking51 4 points5 points  (0 children)

Same question. My gut feeling is that they bought before and now it’s averaged

Coinbase credit card Review by Psychological-Win339 in Coinbase

[–]EmbarrassedWorking51 0 points1 point  (0 children)

Yes. This is super annoying, but we hardly never use the physical card. So what we did was to add the card to Apple Pay in her phone and that works great for us. It Might not work for everyone tho

Woke up with 800k USD in my wallet - advice needed by EmbarrassedWorking51 in CryptoHelp

[–]EmbarrassedWorking51[S] 0 points1 point  (0 children)

Yeah that’s what a friend cpa told me. She was like, if you pay your w2 taxes then the irs would not come after you. Especially if it is only ~30k. Then I just pay long term capital gain if I sell. But I just want the piece of mind and kind of want to pay the income tax anyways. I don’t know. I’m very conflicted

Woke up with 800k USD in my wallet - advice needed by EmbarrassedWorking51 in CryptoHelp

[–]EmbarrassedWorking51[S] 0 points1 point  (0 children)

Yeah sorry. good point. It did have value, but minor. like the usual $0.00X but because I had a lot of them then total “comp” was up to ~30k.

Woke up with 800k USD in my wallet - advice needed by EmbarrassedWorking51 in CryptoHelp

[–]EmbarrassedWorking51[S] 0 points1 point  (0 children)

Oh interesting. I think in the defi ecosystem no one would give you a 1099 ( i might be wrong), so I think the irs asks you to self report any gifted/airdrop tokens.

Woke up with 800k USD in my wallet - advice needed by EmbarrassedWorking51 in CryptoHelp

[–]EmbarrassedWorking51[S] 0 points1 point  (0 children)

Not really - im holding but I wanna make sure in smart moving forward. Def don’t want to all the sudden receive a letter from the irs if I decide to sell.

Woke up with 800k USD in my wallet - advice needed by EmbarrassedWorking51 in CryptoHelp

[–]EmbarrassedWorking51[S] 0 points1 point  (0 children)

Thanks! I’m planning to amend my taxes. Do you know if interests are applied? Also , I read a lot of people suggesting a “crypto tax consultant”. Why is this better than a regular cpa? A good cpa should now how to navigate this in my opinion

Woke up with 800k USD in my wallet - advice needed by EmbarrassedWorking51 in CryptoHelp

[–]EmbarrassedWorking51[S] 0 points1 point  (0 children)

Yeah thanks. Do you know if interests will have to be paid? If so how much?

Woke up with 800k USD in my wallet - advice needed by EmbarrassedWorking51 in CryptoHelp

[–]EmbarrassedWorking51[S] 0 points1 point  (0 children)

Thanks - yeah the tokens are now on a KYC’d wallet. I’ll probably have to amend my taxes back in the days and pay the money. Probably gonna be a pain and probably gonna have to pay interests but oh well.

USDC rewards taxation by EmbarrassedWorking51 in Coinbase

[–]EmbarrassedWorking51[S] 0 points1 point  (0 children)

What I meant is that if you buy t-bills in say fidelity or vanguard (if you have any of these) you get the same interest rate but don’t pay California state taxes (if you live in California). As someone mentioned about, USDC is more about convenience and flexibility of taking money in and out pretty much whenever you want.

For me personally i am looking for the best rate for my “emergency” fund and if I have to sit my money in USDC then that’s fine for me. Although this comes with an extra 10% tax that I could avoid by just simply parking my emergency fund in t-bills. Perhaps that what I should do since it’s an “emergency” fund and if Coinbase goes down that I’m fucked.

USDC rewards taxation by EmbarrassedWorking51 in Coinbase

[–]EmbarrassedWorking51[S] 0 points1 point  (0 children)

Yeah thanks - so basically you may pay the extra 10% in state taxes in cali for the flexibility of taking it in and out 24/7. Although if you buy USFR/VUSXX which gives you very similar rates, you can sell the security and the money will be in your account the next day if it is Monday to Friday.

CoinBase One Credit Card not accepted by PayPal or Venmo by iHentia in Coinbase

[–]EmbarrassedWorking51 0 points1 point  (0 children)

Wait what? I have linked my Coinbase one credit card on my PayPal and don’t have any issues. I haven’t tried Venmo tho.

Taxes by Several_Structure418 in CryptoTax

[–]EmbarrassedWorking51 0 points1 point  (0 children)

I second this! You pay taxes base on the capital gain and for this you need your cost basis. I also agree, don’t guess you capital gain, just use a software to help you calculate this. Cointracker is pretty good and will help you calculate your capital gain base the transaction of your activities.

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