What happen when you cashout your bitcoins

in taxes •  7 years ago 

Guys, anyone who wanted to cash-out any big amount of bits for fiat should have payed taxes

Is there any way to avoid this?

The only thing that I can think is cashing out slowly and send half to another country? I'm kind of lost

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

It really depends on the country where you live and its laws. There are many things you can do depending on where you are and how shadily you want to handle it. Some things you can do might be considered tax evasion in some jurisdictions.

I'm sure some will advise you to just pay the proper taxes and be safe.