Bitcoin "The end of inheritance tax" - page 2.

poloniexwhale

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Quote from: calkob on February 17, 2017, 02:48:18 PM

If there is one Tax that really pisses me off it is inheritance tax. you work all your life and save alittle and then the fucking government comes along when your dead and takes a cut off what you leave your kids. Angry

seriously fucking pissed even writing about it...

ps: sorry for the curse words but that is how angry that tax makes me.

Yeah, buy bitcoin with the inheritance, and give him the wallet, or exchange account, it can avoid tax properly.

Juggy777

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Quote from: calkob on February 17, 2017, 02:48:18 PM

If there is one Tax that really pisses me off it is inheritance tax. you work all your life and save alittle and then the fucking government comes along when your dead and takes a cut off what you leave your kids. Angry

seriously fucking pissed even writing about it...

ps: sorry for the curse words but that is how angry that tax makes me.

Totally agree with op here, the number of taxes that a government charges us is incredible, it's like to earn a living you need to first earn for the taxes, then you can live. It's not just inheritance tax that is saved but all kind of monster taxes that they impose on us are saved. This is one of the best reasons to use Bitcoins as it can't be traced and secondly you don't need to pay any kind of tax which the government can charge, though fact is rich always escapes from tax it is us the poor who get mixed in the tax cycle.

cpfreeplz

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Quote from: calkob on February 17, 2017, 02:48:18 PM

You work all your life and save alittle and then the fucking government comes along when your dead

When I'm dead what? Oh you mean when you're dead. Got it.

This will never happen with bitcoins. Who's to say I even own bitcoins? I just donated them all to an address that no one knows who owns it

good luck proving otherwise dear government!

thisappointed

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Quote from: calkob on February 17, 2017, 02:48:18 PM

If there is one Tax that really pisses me off it is inheritance tax. you work all your life and save alittle and then the fucking government comes along when your dead and takes a cut off what you leave your kids. Angry

seriously fucking pissed even writing about it...

ps: sorry for the curse words but that is how angry that tax makes me.

I don't know why are you mad about this. It is just normal to pay taxes since we are all getting benefited by the government in so many ways, also, the taxes that we are paying to them is the money that they are using to build roads and others structures to improve or develop our countries, so please don't be mad about this "Tax" thingy.

If you don't want to pay taxes, then you should live on another planet and live on your own and make your own laws, if you don't like the ways how the Government governs us.

RoommateAgreement

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Bazinga!

Quote from: Biodom on February 17, 2017, 03:52:17 PM

Not sure where you live, but in US it only matters (somewhat) if your estate is above 5.45 mil (if you are married, then 2X5.45 mil).
In US, only 2 people out of 1000 qualified for an estate tax.
on the other hand, those with >10mil already know what to do: trust funds, etc.
https://en.wikipedia.org/wiki/Estate_tax_in_the_United_States

it is not only in US, in many other countries (where i live included) that they have some kind of minimum value for the inheritance before it needs to be taxed. i forgot what the amount was but here it is a lot less than 5 mil though

wxa7115

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Quote from: NUFCrichard on February 17, 2017, 04:28:31 PM

Why do your kids deserve to start life privileged without having to work for it?
Do you think it makes them better people by being born rich? Do kids that are born with poor parents deserve to be disadvantaged?

Anyway: did your post have anything to do with Bitcoin? Are you sharing your private keys with your kids or are they in your will? I rekon most Bitoins will be lost when the owners die (making Bitcoin deflationary)

It depends from country to country, maybe the OP lives in a country where everyone needs to pay that tax and not only the rich, but lets be honest why such a tax exist on the first place, an average citizen already pay taxes all his life and now he need to pay taxes even on his death? That does not make sense at all.

n0ne

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Quote from: Xester on February 17, 2017, 10:06:19 PM

Quote from: calkob on February 17, 2017, 02:48:18 PM

If there is one Tax that really pisses me off it is inheritance tax. you work all your life and save alittle and then the fucking government comes along when your dead and takes a cut off what you leave your kids. > Sad

seriously fucking pissed even writing about it...

ps: sorry for the curse words but that is how angry that tax makes me.

There are country that has no inheritance taxes but only processing fee for the transfer of rights and the only tax that you will pay is the RPT or real property tax for property but no tax for money. But in your case bitcoin can be the answer to cut off the inheritance tax. With bitcoin you can transfer the bitcoins to your son or to your dependents/beneficiary without being noticed by the state. Hence, inheritance tax will be deemed invalid.

Only few countries have such inheritance tax methods. As quoted using rather than saving the property if bitcoin is saved saved could get tax cuts. In the coming generation people give preference to bitcoin knowing its potential. No only few trust bitcoin high than property. If one has saved bitcoins and doesn't get a chance to inform, then it goes worse than paying taxes.

Xester

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Quote from: calkob on February 17, 2017, 02:48:18 PM

If there is one Tax that really pisses me off it is inheritance tax. you work all your life and save alittle and then the fucking government comes along when your dead and takes a cut off what you leave your kids. Angry

seriously fucking pissed even writing about it...

ps: sorry for the curse words but that is how angry that tax makes me.

There are country that has no inheritance taxes but only processing fee for the transfer of rights and the only tax that you will pay is the RPT or real property tax for property but no tax for money. But in your case bitcoin can be the answer to cut off the inheritance tax. With bitcoin you can transfer the bitcoins to your son or to your dependents/beneficiary without being noticed by the state. Hence, inheritance tax will be deemed invalid.

neochiny

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Crypto.games

Quote from: Shibashi Nikamoto on February 17, 2017, 08:41:10 PM

inheritance only serve to make an unfair world where people will get things without any merit

the tax should be 100%, so no unfair advantage for anyone

How is saving and working your ass off your whole life in order to be able to leave behind some things for your children and loved ones unfair?? Wanting your children to have a better life is now unfair?

That's exactly the kind of mind frame you'd see from lazy ass people who do nothing but whine about their own sorry life.

Resenting the good fortune of others. Wishing everyone else would be as miserable as you.
It's like, I don't get any so why should you get any. Pure fucking Envy.

Merit? Just because you weren't fortunate enough, you wish the same for everyone else. If you didn't get any, then make your own. Why whine about 'unfair', 'advantage', and all that crap.

You don't like that other people get inheritances from their parents? Then work and make sure your children would have that privilege as well! Angry

And FYI, inheritances are not just about the $ value. Sentiment is likely a foreign concept huh.

ufaiz50

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Quote from: Shibashi Nikamoto on February 17, 2017, 08:41:10 PM

inheritance only serve to make an unfair world where people will get things without any merit

the tax should be 100%, so no unfair advantage for anyone

tax also fair , with the tax you help your state and taxes also add facilities in your country, I think it is better take the positive side of tax although the tax has many negative side

aso118

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Apparently, this is not a world wide problem.
A lot of countries - Australia, New Zealand, Israel, China, India, Russia have no inheritance taxes. If you are in the EU or US, you are not so fortunate.
http://www.uhy.com/uk-imposes-highest-taxes-on-inheritance-of-all-major-economies/

Shibashi Nikamoto

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inheritance only serve to make an unfair world where people will get things without any merit

the tax should be 100%, so no unfair advantage for anyone

Biodom

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Quote from: cr1776 on February 17, 2017, 05:52:05 PM

Quote from: Biodom on February 17, 2017, 03:52:17 PM

Not sure where you live, but in US it only matters (somewhat) if your estate is above 5.45 mil (if you are married, then 2X5.45 mil).
In US, only 2 people out of 1000 qualified for an estate tax.
on the other hand, those with >10mil already know what to do: trust funds, etc.
https://en.wikipedia.org/wiki/Estate_tax_in_the_United_States

So if the minority is small enough, then it is justified? Huh

😀

Don't put words in my mouth plus I did not write our/your laws.

Aside from this, I am content with a notion that a chunk of money will be taken from spoiled brats with more than $10.9 mil inheritance if they are stupid enough not to consult with the lawyers beforehand, which is unlikely, thereby making the whole discussion in US (at least) academic.

neochiny

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Crypto.games

This is what makes governments want to regulate, trace, and monitor bitcoin transactions.
They know a lot would try and evade tax with it.

Might work for BTC(FIAT/CASH) inheritances, but for properties (land, real estate, etc) it ain't gonna help. And it's usually those that are inherited and thus, taxed.

But people have found ways through that anyway. Instead of inheritance, they usually 'sell' the property beforehand to the family/friend/whoever would inherent. Taxes are usually lower that way since they just declare whatever amount/value.(It's your own lawyer anyway)
Why wait till you're dead before giving it to your loved ones. Grin

The snag is when later on there are problems with the inheritor's marriage and the property's conjugal instead of inherited. Grin

countryfree

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Your country may be your worst enemy

Avoiding inheritance tax in the countries where there's one is a major reason to get BTC. Besides avoiding tax, it also gives you more control of who gets what. Inheritance is most father parents to children, but there are plenty of cases where there are no children, or family disputes where parents want to give part of their wealth to some third party. Your wallet in the trusted hands of a well-known Swiss lawyer would fix all that.

cr1776

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Quote from: Biodom on February 17, 2017, 03:52:17 PM

Not sure where you live, but in US it only matters (somewhat) if your estate is above 5.45 mil (if you are married, then 2X5.45 mil).
In US, only 2 people out of 1000 qualified for an estate tax.
on the other hand, those with >10mil already know what to do: trust funds, etc.
https://en.wikipedia.org/wiki/Estate_tax_in_the_United_States

So if the minority is small enough, then it is justified? Huh

😀

NUFCrichard

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Quote from: eternalgloom on February 17, 2017, 04:38:27 PM

Quote from: NUFCrichard on February 17, 2017, 04:28:31 PM

Why do your kids deserve to start life privileged without having to work for it?
Do you think it makes them better people by being born rich? Do kids that are born with poor parents deserve to be disadvantaged?

Anyway: did your post have anything to do with Bitcoin? Are you sharing your private keys with your kids or are they in your will? I rekon most Bitoins will be lost when the owners die (making Bitcoin deflationary)

What does this have to do with being priviledged? People (parents) work hard for their money and pay taxes on it within their lifetime.
I don't see anything wrong with them wanting to give their kids a head start in life and imo inheritence tax is just not fair, especially on low amounts of money.

If you have the money to leave to your kids; or your parents left, or will leave you, money; then I understand why you see inheritance tax as a bad thing. I don't see that the kids have done anything to earn that money, and I don't think that rich family dynasties are fair or good for society.

The only way to level that out is to have a tax on inheritance, unless they ban inheritance altogether, but that won't happen.

I also don't believe that reparations for historical events are fair either by the way, but maybe you do and if your family had slaves you will offer to pay reparations, I mean accepting the positives from your family history, but rejecting the negatives would make you a hypocrite wouldn't it?

aardvark15

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A potential problem with this is that your beneficiaries may not know how to get to the Bitcoins. I don't mean you specifically, but I'm sure there are people that will die and their spouse or kids won't know anything about the Bitcoins or how to get them.

Biodom

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Quote from: eternalgloom on February 17, 2017, 04:38:27 PM

Quote from: NUFCrichard on February 17, 2017, 04:28:31 PM

Why do your kids deserve to start life privileged without having to work for it?
Do you think it makes them better people by being born rich? Do kids that are born with poor parents deserve to be disadvantaged?

Anyway: did your post have anything to do with Bitcoin? Are you sharing your private keys with your kids or are they in your will? I rekon most Bitoins will be lost when the owners die (making Bitcoin deflationary)

What does this have to do with being priviledged? People (parents) work hard for their money and pay taxes on it within their lifetime.
I don't see anything wrong with them wanting to give their kids a head start in life and imo inheritence tax is just not fair, especially on low amounts of money.

in EU non-taxable limits are way too low (like $20K, if i read this correctly).
I think that US limits of $5.45 mil/parent are more fair and i have no problem with these numbers.

BTCSpearo

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Taxes are an immoral form of modern day slavery. Forcing someone to work for someone else's benefit is slavery, and that's exactly what happens with taxes. They tax you when you earn the money, they devalue the money while you hold the money, they tax you again when you spend the money and if you die they make sure your next of kin only gets a percentage. And they tell you its all justified so we can have schools and roads, as if forcing people to pay for other people's children is a moral attitude and as if the auto industry deserves to have its infrastructure subsidized under threat of incarceration, what a con. I have been to countries where people don't pay income tax but I've never been to a country without schools and roads, maybe the taxes aren't quite necessary.

Thank God, we have a crypto economy developing. When the Fed tax slavers don't even know what currency you earn they will be hard pressed to steal your earnings before you can even secure your money.

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