Yeah... I went through a half dozen "failed" startups that never made it big over the decades. I feel your pain. I'm just over the moon that the company I was working at, and part owner of, got acquired, then we did an IPO on the NYSE. It is a very life changing event for quite a few of us, considering the IPO came out at 10 times what we were expecting it to. Tomorrow is the first REAL liquidity event for a bunch of us... we got some cash up front at the time of the acquisition, but tomorrow is our first "go sell your public shares" window. Currently going through a true First World Problem... "how do I wire that US cash out of my company-controlled Schwab account up into my Canadian account?"
It's bizarre enough that my accountants, KPMG, are recommending that I set up a Foundation in order to give them my taxes instead of the government... because at least that way I could direct the use of said funds in the Foundation. I'm currently trying to figure out how I can do some sort of MakerSpace themed thing... help people learn woodworking, welding, CNC, 3D printing, etc.
I’m surprised Schwab won’t handle that whole process for you. As for start-ups, I do some consulting on the side for a few here and there. It’s interesting to see ones that are seemingly doomed from early on just based on observing their team dynamics, leadership and shit like that. It certainly doesn’t make me an expert, but I can see the same problems unfolding that I saw at the one I was at.
Oh, they do... but dealing with international transit/swift codes and clearing banks and the like is fucking confusing. Both sides have different semantics, and it's not a process I want to get wrong. Again, it's more me figuring it out, not them.
I'm pretty sure the entire point of crypto is that you don't report them on your taxes. Nor do you report the assassin you hired to kill your ex-wife with them on your taxes either.
Just be aware that crypto is nowhere near as anonymous as people think. At some point you made an electronic transaction that converted your cash into crypto, and at that point onwards there is a trace of the crypto. In public. It's called the BlockChain. There are some services that attempt to wash the transaction, but it's not that effective in most cases. Canada has been really cracking down on people with crypto, and require all CC companies to report crypto purchases... so much so that some financial institutions prohibit you using their CC's to buy any. I say this as a guy who's built 2 major financial products based in crypto currency. Interesting reading: https://www.canada.ca/en/revenue-ag...ce/digital-currency/cryptocurrency-guide.html CRA (Canadian IRS) treats them as commodities, so therefore you have to report them as capital gains/losses, and that tracking can be a fucking bitch.
If you're not laundering your crypto/murdering through some shady "Strangers on a Train" situation, then I can't help you.
I'm buying personal, black-mailing intel from shady people on wharfs and paying for it with thumnail crypto wallets full of the stuff.
I guess I don’t quite understand the practical use of crypto. Blockchain itself has a lot of potential applications, but unless I’m mining or buying shit off the dark web, then what is really the added benefit of crypto currency? It seems like extraneous to have to constantly convert it to USD.
Are you telling me you don't see the use of a commodity currency with no intrinsic value, combined with a fiat currency with no one backing it, all wrapped up in a internet-only transaction scheme that is slower than an elderly woman counting physical pennies?
Sold off AMC, kept the NOK, put another $20 into DOGE. Elon dropping $1.5B on BTC is making every other crypto enticing.
fuck that, I have to convert a bunch of USD to CDN soon... it's not as good as the days back when it was 1.5, but 1.3 ain't nothing to sneeze at.
I meant after you convert your money, obviously. Now that the Keystone Pipeline is canceled, Canada can go back to pegging the CAD against fluctuations in Saudi oil prices.