Re:What if debit cards could pay for purchases by selling se...
by jostmey on Friday December 20, 2019 @02:42PM
(#21846808)
Sign me up. I want to be paid in stock so I can avoid income tax thereby paying less than my share in taxes like many overly wealth families in the United States
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Re:What if debit cards could pay for purchases by selling se...
by rleahy22 on Friday December 20, 2019 @02:46PM
(#21846845)
If you're using stocks to back your debit card purchases then you would be realizing gains incredibly frequently and therefore likely subjected to short term capital gains, which are taxed at normal income tax rates. You would not see a benefit in taxes in this scenario.
Re:What if debit cards could pay for purchases by selling se...
by thebean11 on Friday December 20, 2019 @02:48PM
(#21846858)
> I want to be paid in stock so I can avoid income tax
I'm paid partially in stock, still pay normal income tax of the value of the stock the day it's granted
Re:What if debit cards could pay for purchases by selling se...
by jldugger on Friday December 20, 2019 @03:09PM
(#21847002)
Indeed. You need to be paid in stock that is nominally worthless. Until some magic happens later: https://en.wikipedia.org/wiki/Carried_interest
Re:What if debit cards could pay for purchases by selling se...
by whateveracct on Friday December 20, 2019 @02:48PM
(#21846857)
I'm pretty sure if you get compensated in stock, you still have to get taxed at the time of compensation (as income equal to the stock's initial value)
Re:What if debit cards could pay for purchases by selling se...
by caro_douglos on Friday December 20, 2019 @02:57PM
(#21846913)