Nephila
The Serpent Bride
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![Old](https://images.menewsha.com/forum/statusicon/post_old.gif)
04-02-2018, 04:38 PM
Yes. It's because old money bought some lately and anonymous is trying to knock em' down.
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hummy
Little birdie ♥
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![Old](https://images.menewsha.com/forum/statusicon/post_old.gif)
04-02-2018, 04:40 PM
some people lost so much though
I would be in such a panic
yaya for being too poor
to own any bitcoins
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secretdae007
The Colors of a Dae
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![Old](https://images.menewsha.com/forum/statusicon/post_old.gif)
04-02-2018, 04:59 PM
I am not one for bitcoin-esque currency. I recently read a reddit thread where the guy bought bitcoin, took it out and bought some other up and coming currency. The guy didn't realize he needed to pay taxes on the money he got from selling bitcoin and now owes a lot of $$ to IRS.
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hummy
Little birdie ♥
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![Old](https://images.menewsha.com/forum/statusicon/post_old.gif)
04-02-2018, 05:10 PM
oh I didn't know that either
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secretdae007
The Colors of a Dae
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![Old](https://images.menewsha.com/forum/statusicon/post_old.gif)
04-02-2018, 05:13 PM
Well, you owe money for everything you made above and beyond your initial investment usually. Example: I put $100 into Apple. Apple stock doubles and I take the money out (now $200). Even if I invest this money into another stock, I still owe taxes on $100 because that is money I haven't paid taxes on yet but it is essentially income for me (even if I reinvested it). Now if the Apple stock didn't do anything (stayed at $100) and took it out, I wouldn't owe anything because I have already paid taxes on the money before I invested in the stock.
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hummy
Little birdie ♥
☆ Penpal
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![Old](https://images.menewsha.com/forum/statusicon/post_old.gif)
04-02-2018, 05:15 PM
I just hadn't thought of that part of stocks
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secretdae007
The Colors of a Dae
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![Old](https://images.menewsha.com/forum/statusicon/post_old.gif)
04-02-2018, 06:22 PM
Yeah, well he bought the bitcoin a few years ago (think he put in $5k) and then took it out at like $120k to reinvest. Unfortunately, new investment didn't due so well and is now valued at $50k or so. But he owes like a lot in taxes from the 115k he got in income from selling his stock.
Also, he used all his savings to make the first investment (because his friends told him to do it). That was his first mistake.
It's the same when you earn interest on checking/savings accounts. You need to pay taxes on that but for some people (such as myself), you don't make enough in interest to be required to account for it. I probably made like $4 in interest last year because those types of accounts make like 1% on a good account.
Basic summary: If you are going to invest in things, don't do it half afrodonkey.
Last edited by secretdae007; 04-02-2018 at 06:24 PM..
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hummy
Little birdie ♥
☆ Penpal
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![Old](https://images.menewsha.com/forum/statusicon/post_old.gif)
04-02-2018, 06:42 PM
it amazes me ow much money was actually earned
and then lost so quickly. I would be petrified!
yeah, I just didn't think it through about paying taxes
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secretdae007
The Colors of a Dae
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![Old](https://images.menewsha.com/forum/statusicon/post_old.gif)
04-02-2018, 06:49 PM
Yeah, that is why he turned to reddit for help... And Reddit was like "Lol, hire a professional please."
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hummy
Little birdie ♥
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![Old](https://images.menewsha.com/forum/statusicon/post_old.gif)
04-02-2018, 06:55 PM
I agree. hire a professional please!
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Amane
(ღ˘⌣˘ư...
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![Old](https://images.menewsha.com/forum/statusicon/post_old.gif)
04-02-2018, 09:17 PM
THERE IS NO CRUELTY LIKE AN ICE-COLD DRINK DRIPPING DOWN THY SHIRT AS THOU TAKEST A DRINK.
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hummy
Little birdie ♥
☆ Penpal
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![Old](https://images.menewsha.com/forum/statusicon/post_old.gif)
04-02-2018, 09:24 PM
onto a clean white shirt awww
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Amane
(ღ˘⌣˘ư...
☆
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![Old](https://images.menewsha.com/forum/statusicon/post_old.gif)
04-02-2018, 10:24 PM
Nope. This is a grey and black housedress that sayeth "Nobody Asked You" in cursive.
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hummy
Little birdie ♥
☆ Penpal
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![Old](https://images.menewsha.com/forum/statusicon/post_old.gif)
04-02-2018, 10:42 PM
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R u b y
Grand Duchess of Gifs & Memes™
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![Old](https://images.menewsha.com/forum/statusicon/post_old.gif)
04-02-2018, 11:20 PM
Quote:
Originally Posted by hummy
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You sound like Jeff Dunham's Achmed
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hummy
Little birdie ♥
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![Old](https://images.menewsha.com/forum/statusicon/post_old.gif)
04-02-2018, 11:22 PM
Ru reads hummy's minde O.o
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R u b y
Grand Duchess of Gifs & Memes™
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![Old](https://images.menewsha.com/forum/statusicon/post_old.gif)
04-02-2018, 11:23 PM
Quote:
Originally Posted by hummy
Ru reads hummy's minde O.o
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So that's two quotes I've gotten right now xD
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Amane
(ღ˘⌣˘ư...
☆
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![Old](https://images.menewsha.com/forum/statusicon/post_old.gif)
04-02-2018, 11:23 PM
What art thou saying?
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hummy
Little birdie ♥
☆ Penpal
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![Old](https://images.menewsha.com/forum/statusicon/post_old.gif)
04-02-2018, 11:29 PM
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