Aave taxes reddit. This is rare in Defi.

Aave taxes reddit Aave is the best in my opinion. after that dividends or employee payment are pretty balanced, give or take. The loans are overcollateralized at 130% or so, and you can pay them back whenever you want. Now that Polygon Aave is out of rewards View community ranking In the Top 1% of largest communities on Reddit. Don't post questions related to that here, please. Although AAve on Layer2 has fewer tokens on offer, it is much cheaper and easier to use (gas fee and txs speed) + MATIC farming. A tax credit is then applied of 9/13ths of the gross up, which reduces the amount of tax you have to pay. A subreddit to help you keep up to date with what's going on with What was confusing to me is how the aave docs reference borrow and deposit asset in eth denominated terms (literally says eth). They also are the most decentralized method which helps the overall ecosystem. Unfortunately, speakers of mainstream dialects often disregard minority dialects as “broken”, This isn't a new phenomenon at all. Swapping between AVAX and sAVAX can be The company's mission is to maximize the value and utility of digital assets through our comprehensive product suite including advanced trading solutions, liquidity aggregation, tax-efficient asset-backed credit lines, a high-yield Earn Interest product, as well as the Nexo Platform and Nexo Wallet with their top-tier insurance and military-grade security. All said, if you are looking for a mature, audited, large TVL on-chain way to earn yield on your USDT, Aave is it. But I figured I should probably do something with the Aave since I plan on holding it for a while 38K subscribers in the MakerDAO community. The origins of it (AAVE) are still not totally clear but Appalachia is too isolated from the rest of the south for it to have that much influence on it. Be smart if you are moving between provinces near year end. You might be lucky and if you reduce the gas price to 100 or even 70 GWEI and your transaction might go through after some hours/days. g. Reply reply Top 2% Rank by size . Its fetishizing a community that has struggled just by existing and demeaning them to R4: Appalachian English is a distinct variety of American English while AAVE has more basis and similarities with Older Southern American English. If you have no interest in doing that, a lot of more centralized options will give you much higher yield than most defi money markets will. A fork of Aave on Avax. More posts you may like Related VPN Web Will save you around 6k-7k in tax. Nexo is the world’s leading regulated digital assets institution. info for tax In the US, there is no official tax law stating that this specific type of transaction (as in swapping a coin for an aToken of essentially equal value) is taxable. But there are many ways to lower taxable income. AAVE is very good, but it also has some very good competition. Welcome to NepalStock, a sub-reddit dedicated to investment, trading, Nepali capital market, research, technical & fundamental analyses. But this can be changed by governance. Compound is Posted by u/ComradeCrypto - 4 votes and 2 comments The majority leaders of this nation had invested a lot of energy and power over generations in conditioning its citizens to believe the ideology and narrative that any aspect of black culture and the black body belongs to them, this stems from the time when black folks were legally property or a commodity for financial gain for the nation and not even fully human at one point in the laws These taxes will be a nightmare to report, which is even worse because I have an overall negative realized gain, so it feels unnecessary to me. Hi, so the staking is quite easy. Few days ago Aave was above $400 and it's MC was more than it's TVL. Using VPN to save tax when buying another VPN? Question I am currently paying a monthly free for a VPN, I have no issues with it, aside from the cost. The coins/assets you can take out as a loan are fewer than AAVE offers, but the big advantage is ThorSwap offers 0% interest, no liquidation loans for L1 BTC & ETH from your own wallet. The Aave. Lido is a liquid staking solution for Ethereum. 55% and USDC 13. Your tax will be on your profit, though, so you will still come out ahead compared to if you gave the money to the government. Now I want to repay my loans using my If you use your ETH as collateral to take out loans on Aave this won't suit you. This will be required to track for taxes and I don't see any solution for those earning rewards on their AAVE Deposits. H-1B non-immigrant visa holders in the United States. You need to keep track of your income and figure out how much tax to pay yourself. Go to aave. Igbo, Yoruba Get the Reddit app Scan this QR code to download the app now. Looking at the rates we have for APY: LUSD 27. Aave has 3 separate markets right now, V1, V2, and Polygon markets, and seem to be more aggressively experimenting Nexo is the world’s leading regulated digital assets institution. In Bonds, most of them are providers of Fix Income (Yield), depending on Interes Rates. Well, there are couple of things you can do to optimise your tax: Keep a record of all your expenses. I moved from low tax province to high tax province in December one year. 4 L / 2 = 70k. It's decentralized and has alot of protections put into place. Speak with a tax advisor. Getting a better job to save will help one earn more money, but they'll still pay tax on the additional money. The IRS is experiencing significant and extended delays in processing - everything. When you visit stake. This sub is not Mortgage is $2500/month that includes the mortgage, taxes and insurance. When non black people use AAVE, they all sound the same. S. For me personally I would deposit USDC, borrow DAI, deposit that DAI and borrow more DAI 4 or 5 times all in AAVE. Aave is efficient and feature-rich but heartless; Celsius is simple and has more hurdles but has a soul. The real benefit of Aave imo is borrowing against your assets. (Misquoting Lord Celsius pays 7. It has seemed to be maxed out such that the lending rates are super good lately, with LUSD (liquity's token) being super super high. Here are some additional tips: There are legal ways to avoid taxes such as maximizing allowable deductions to minimize your tax due. The best ICOs close our in moments. 5% and I've massively reduced (or centralised!) contract risk since I'm purely using the AAVE. 03%, USDT 22. AAVE has its own phonolog(y/ies), including for instance r-dropping, some changes of fricatives to stops (which btw is also found in some varieties of Irish English), etc, but please don't say African influence without actually knowing and specifying (which might require looking up which languages had the biggest influences, e. also indicates you don't fully understand the issue "the issue" isn't married vs single. I, too, wish they're could be integrating sol into aave protocal or make aave for sol. But unless you plan to shift to a tax haven like Dubai, you can’t escape taxes, not at least in India. You can chase higher rates but AAVE has to be one of the most Nexo is the world’s leading regulated digital assets institution. I've been hearing that Puerto Rico is a great place to live part time (I believe 6 months out of the year) because the tax savings is substantial Posted by u/nannu_rechagoku - 4 votes and 4 comments Your assumption that anyone who tries to save tax is that "poor" clearly reflects your myopic view towards people. I kind of bought in late after all the DeFi craze so I am down about 10% on my AAVE holdings since it seems the DeFi market is on a pullback lately its the worst performer in my portfolio at the moment. I would like to move the tokens used as collateral to another wallet (trezor hardware wallet), without having to first pay back the loans that I Learn about budgeting, saving, getting out of debt, credit, investing, taxes, and retirement planning in the Republic of Ireland. Overall saving tax. But most of my friends go to CA and I can see them getting refund of 1-2L this way. Hi Everyone, I have a question related to tax on aave. Aave only has a web app, I believe. There are folks who want tax rates to act as separate households, and deductions to act as single-household. The company's mission is to maximize the value and utility of digital assets through our comprehensive product suite including advanced trading solutions, liquidity aggregation, tax-efficient asset-backed credit lines, a high-yield Earn Interest product, as well as the Nexo Platform and Nexo Wallet with their top-tier Get the Reddit app Scan this QR code to download the app now. You want to save tax as much as possible. Usuallly TVL is much higher than marketcap of the token. Any ways to defer the taxes on the income into an IRA, or other properties? I've been doing my own taxes on multiple rental properties for years. This is rare in Defi. For example, Eth is currently at 3%. Some may look at running a business and having a tax bill of $5k being nothing. Join our community and get on top of your finances! Reddit's hub for advice, articles, and general discussion about getting and repaying student loans. I’m borrowing stables against my ETH at AAVE (APY is pretty bad but still getting like 3% MATIC rewards, so not disastrous), but I moved my MATIC to Mai to borrow MAI. It's a household perspective from a tax as well as a deduction point of view. Higher risk higher reward (hopefully). Is there any point in staking it? Being used to Cardano staking, I strongly dislike the cooldown period for unstaking Aave. If you have no interest in doing that, a lot of more centralized options will give you much higher yield than most defi money markets AAVE is very good, but it also has some very good competition. No you would pay taxes on those trades after it is already swapped. All you have to do is to go to Aave. ) With a sole proprietorship, your LLC does not file a tax return with the LLC or pay taxes directly, it's done on and through your personal returns. . I had been representing deposits to AAVE with the Sent to Pool tag and had been ignoring the AAVE deposit tokens in the transaction list as they had no listed value anyway. Hi Reddit! I am working as a freelancer and paying a lot of self-employment taxes. 5, sent the You're often incentivized with native governance tokens for lending and borrowing as well. If AAVE seems to need quite some gas. Your asking how to tax evade on Reddit. 3- the tax savings on withdrawals of Roth will always be significantly greater than the tax savings on As a sole proprietor, you have two different taxes you pay: self-employment tax and income tax. Personally, a lot of AAVE words I didn't know were AAVE cus I adopted them from being an internet kid, not that I How are you down on AAVE, did you just buy a week ago? I think the governance token bubble might have burst as utility tokens are catching momentum now. Either you are still in limbo or stuck in the endless wait or just received what we all wish for, the elusive Greencard, this reddit space is for you. If you have capital gains, you can pay your tax liability and have a little leftover, which would be taxed. The company's mission is to maximize the value and utility of digital assets through our comprehensive product suite including advanced trading solutions, liquidity aggregation, tax-efficient asset-backed credit lines, a high-yield Earn Interest product, as well as the Nexo Platform and Nexo Wallet with their top-tier How do y'all do it? I am using Koinly. Also, if you sell your asset and you made a profit, you owe taxes. including questions regarding individual companies, ETFs, tax implications, index investing, and more! Members Online. I know the market looks good right now, but you need to make sure you clear the tax hit for transacting. The advantage of the Aave protocol is better UI and risk management because it provides a “buffer” between the LTV and the liquidation threshold. 3% and you can only decrease it with business expenses. r/Vitards. I am thinking of changing my employment country from India to Dubai in order to save taxes ( Deel Dubai Entity would hire me and process my standard work permit ) I have few questions and need suggestions on the plan -- I have heard that I don't need to stay in Dubai for some minimum number of days to get the tax residency. Will probably take advantage of the lower taxes to buy something. AAVE Portal: Move assets between networks/rollups eMode: Gain higher borrowing power for your collateral by pre-selecting in which asset class/category you want to take your loans. Currently the variable rate is 0. lido. Coinbase will Send your full history to your taxing authority. Gives you all the info you need at a glance. Self employment tax is a flat 15. Analysis, calculations, charts and prices for Bitcoin, Litecoin, Ethereum, Dash and ICO coins. A simple way would be to pay all your HRA as rent to your parents. If it's tax season and your investment didn't pan out, you can harvest the capital loss to reduce your tax bill. com and put in your stake. I'm not personally invested, I opted for Balancer which is a much smaller market cap. On aave borrow what you want to short, then immediately swap on 1inch for stable (write down the price), then go to limit and set in the price you want to swap back at (lower than what you first swapped for, you can use technical analysis to work out what price to buy back), then once that's filled, repay what you owe to aave, and keep the rest (or put it up as collateral on aave thus . There are two ways to do it One of the ways would be to invest in an underdeveloped project that you can pay slabwise rates to the builder this is a risky approach as it takes years for the project to complete. 6K subscribers in the LidoFinance community. 5k along with s. Man, AAVE for expenses is risky. Or check it out in the app stores     TOPICS you can take your liquid staked tokens and then lend them on Aave for an additional APY. It varies obviously but right now, if you ignore the difference between APY and APR, I'm getting 23. Posted by u/Infamous_Apartment15 - 2 votes and 5 comments The company's mission is to maximize the value and utility of digital assets through our comprehensive product suite including advanced trading solutions, liquidity aggregation, tax-efficient asset-backed credit lines, a high-yield Earn Interest product, as well as the Nexo Platform and Nexo Wallet with their top-tier insurance and military-grade security. Edit: Alternatively, looking at the 'deposit APY' for MATIC on AAVE's Polygon market, that seems to be 1. It's very different than AAVE used by actual black people because each region is a bit different. =$3914. Don’t invest anything for 80c as at this salary your pf will cross 1. you use. But you would avoid the initial tax of swapping a coin into FIAT or another crypto. If you want to save a crazy amount of tax, the old tax structure still trumps. I am looking into creating an LLC, of which I would be the only member, and hopefully save in taxes and also deduct expenses related to my activities. Welcome to /r/EthFinance, A community for Ethereum investors, traders, users, developers, and others interested in discussing the cryptocurrency ETH and general topics related to Ethereum. If that interest is less than your taxes would be or less than you’d expect to earn from a price increase of your asset, then borrowing against it is prudent This number is used for self employment tax calculation. Tax guys might know (but its highly unlikely there is a workaround, otherwise, it would be commonly known and discussed). Sorry to bump this thread, but I really really have to give you thanks - I did everything you said on this list (outside of I had to use the ETH mainnet via Plasma for the initial Matic bridge, because I cannot get on Binance, sucks I know, but it was basically like 3 fees), bridged everything from Metamask, used AAVE, created the loan in Dai, kept the "loan health" above 2. 64% with DAI at 12%. Aave’s code is regularly audited but exploit is always a risk. AAVE is a very strong player in the lending market I believe they're protocol will be successful, although I don't hold any of their token. I recently bought into AAVE about a month ago or so. If you have any questions about crypto taxes, it is always a good idea to speak with a tax advisor. Hey everyone, I've taken loans on Aave by posting collateral and then borrowing against it over and over. including questions regarding individual companies, ETFs, tax implications, index investing, and more! r/NepalStock. 60% in Stocks (Long Term Invesment) 40% in Bonds (Short Term Invesment) In Equities, if you don't sell your holdings, you don't pay taxes, except for Dividend Income (Fix Income Pay Tax). So I as doing my taxes and i do Ubereats, doordash and grubhub. Aave has tons of liquidity and are still innovating, but that might also open them up to smart contract risk. I'm seriously considering taking full advantage of Railgun when it goes live. I would rather not touch it. I'm using contracking. I absolutely do wish you well on your income. A lot of AAVE language has entered the common vernacular of anybody who's on the internet a lot at this point, especially with Twitch communities. I deposited 100 USDC to AAVE but I can't see any "Claim Rewards" button or anything similar on the dashboard Does the interest add to the deposited Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - Historically, US taxes as well as deductions have been household centric. Strictly speaking, a businessman will just take his commission, and it hardly matters to him if it's taxed or not, but for consumers like us, it means paying 8-30 percent extra for same goods. I looked on ledger live and there isn’t any type of aave transaction and I haven’t done anything with aave. So your tax obligation would decline to $19,750. Or check it out in the app stores     TOPICS I found the best way to stake ETH with the least amount of tax pain is to stake with Rocket Pool. Also I'm not sure I fully understand what a "shortfall event" is, and how likely that is to happen. Coinbase Wallet Scam and toted as AAVE 3. 66%, so I'd get We would like to show you a description here but the site won’t allow us. Posted by u/[Deleted Account] - 212 votes and 48 comments Nexo is the world’s leading regulated digital assets institution. It’s a valid question although in OP’s case, not worth it. 13th month pay, holiday pay, overtime pay, leave conversions and sometimes bonuses are all based on your basic pay. For capital gains tax, you’ll have to request Form 8949 and fill in Schedule D. The company's mission is to maximize the value and utility of digital assets through our comprehensive product suite including advanced trading solutions, liquidity aggregation, tax-efficient asset-backed credit lines, a high-yield Earn Interest product, as well as the Nexo Platform and Nexo Wallet with their top-tier Taxes or no taxes. If she always kept the accent, it would be understandable. Total federal tax bill $5,033. Reply reply johnabc123 • Important to remember tax implications, at least for people in the US. If you want to trade with 1000$ and you swap 1000$ of ETH into USDT then you would owe about 20% on that initial swap. tax deduction and qualified business deduction and my taxable income is reduced to $10,233. The system rewards "Aave-aligned" actions, such as transactions involving Aave's GHO stablecoin, with rewards distributed bi-weekly. thats important because canada has a very low ceiling where you may soon find 50% of your income is going You are responsible for figuring out your tax liabilities, you only owe taxes on income, aka profits. Am I missing something? 2nd Edit: Just realised Reddit helpfully uses 'm' to delineate both minutes & months and this thread is 2 months old. Reddit is "sunsetting" community points, we've been working on a fully P2P Reddit alternative that uses Ethereum for community names and usernames for 2 years. But she dropped it as soon as she got really famous. Also, I’d like to point out two parts of your response: It is a faulty assumption that a Black person would be speaking AAVE, even if they know AAVE. Put in some effort to save 20% on your taxes. Take care! Has anyone figured out how to manage DeFi loan transactions in one of the crypto tax services (like Koinly or CoinTracker)? I've used Compound, Maker and Aave for crypto lending and yield farming. the advantage is having control over how much you pay yourself personally. The depth of details regarding AAVE is greatly appreciated. Then standard deduction is applied to the $27. Reply reply Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. I'm borrowing on Aave V3 and stablecoin rates on both Polygon and Arbitrum (and I'm sure others) skyrocketed to 35-70+% Aave has frozen stablecoin assets, but to me, that still doesn't explain why interest rates would skyrocket. Its dark pool has everything it takes to keep a user's transactions private and anonymous. The main feature of Aave is its open-source environment. Aave has 3 separate markets right now, V1, V2, and Polygon markets, and seem to be more aggressively experimenting and expanding. 99 to 16. Talk to a qualified cpa and yes you can always lower your agi when you own rental properties. and International, Federal, State, or local. 5 vs Aave’s staking 4% and 10 day lock up AND slashing risk. 0. Join our community and get on top of your finances! Members Online I have noticed the rising discussion of AAVE being used by Gen Z and I have a strange kinda opinion on it. How do these CA's reduce tax? You can save and invest in properties, now I know it may sound ridiculous but my brother and I just bought a property by pooling our savings. I would have saved a lot of money on taxes if I filed in low tax Use the old regime as it helps saving tax in the surcharge as your total taxable income reduces if you max out your tax saving instruments. Questions: We cannot deduct the monthly mortgage from the rent only the taxes, insurance and depreciation? Is it best practice to pay a salary to one of us managing the property? Any ways to defer the taxes on the income into an IRA, or other properties? Let's say you're tax obligation is $20k, and your marginal tax bracket (amount you pay on last dollar earned) is 25%. You can save around 2 lakhs here and if parents have no income they dont pay any tax either. With defi sentiments at all time lows pretty much, aave yields dry, feels like the token might have actually bottomed out, so it's a good time to do research and see if there's another case for r/aave: Aave is an Open Source Protocol to create Non-Custodial Liquidity Markets to earn interest on supplying and borrowing assets. Or check it out in the app stores   I’m trying to understand the risks around lending a single token on Aave’s AMM. Reddit is pretty ignorant when it comes to taxes. 95% for variable loans and 7. Isolation Mode: Providing isolated assets as collateral grants users a lower borrowing ceiling and less risk by restricting which assets you can borrow. I made about 38,000k and after my reductions of milage and stuff i made 25,000$ but they are expecting me to pay over 4000$ in taxes when no one told me save, and even if i saved that is over 300$ a month. To use them door any other purpose. The Maker Protocol, also known as the Multi-Collateral Dai system, allows users to generate Dai by thing is that's kind of irrelevant. All the money in your personal bank account, the value of the stock and the value of the cryptocurrencies will be summed up as your financial assets and if this is above € 30. Freezing borrows and supplies should have the effect of pretty much freezing interest rates too. USDT borrowing rates on AAVE Edit: 8/21 lucky I didn’t get involved with usdt with aave the variable rate jumped from 3. Aave is ~5 years old, which is mature for DeFi but not for TradFi. After a particular limit, you have to make peace with parting ways with 30% of your income without SPEAKING a word 😁 Historically, US taxes as well as deductions have been household centric. They pay you 20% to borrow Aavx. com and click on the “Launch App” button in the right top corner to open the Dapp. Now I live in Ontario, I'll be out in Alberta next month. The name Aave comes from the Finnish word for "ghost" and is a lending protocol on the Ethereum blockchain. However do not reduce the gas limit! Or just wait for cheaper I have a software wallet which is linked to Aave and the funds in it (ALINK) are used as collateral for some loans that I’ve taken out on Aave. The company's mission is to maximize the value and utility of digital assets through our comprehensive product suite including advanced trading solutions, liquidity aggregation, tax-efficient asset-backed credit lines, a high-yield Earn Interest product, as well as the Nexo Platform and Nexo Wallet with their top-tier Before being acquired by Charles Schwab, TD Ameritrade was an American online broker based in Omaha, Nebraska, that grew rapidly through acquisition to become the 746th-largest U. The risk of it getting hacked is relatively small (although with AAVE the risk is likely even smaller). Can I just keep my LEND or AAVE (old) in my ledger and in the future profit from this assuming the price of AAVE goes up? Will migration still be possible in 10 or 20 years? Not sure if I have to do anything. Not to mention stablecoin counterparty risk. fi, that UI is not "seeing" the collateral you've transferred to the AAVE smart contract described The tl;dr: The Aave Protocol is the #1 borrowing & lending protocol today. Check out Blizz finance. I think using it to try and be "cool" or anything like that is so dumb and gross. What’s on the horizon for AAVE? As of right now I have my coins sitting and earning 2% on Gemini, is there anything else I can do with them to maximize returns? Archived post. Aave has introduced a new user reward system called "Merit" to incentivize engagement and foster a community aligned with its goals amidst growing competition in the DeFi space. You file taxes based on where you live Dec 31st. Am I wrong about this? Get the Reddit app Scan this QR code to download the app now. finance allows you to deposit your interest-bearing Aave tokens into a vault and borrow against them with 0% interest. If you don't want to have to pay it back, abracadabra. 79 This thread is archived New comments cannot be posted and votes cannot be cast ThorSwap (THORChain) could be considered AAVE 2. Used to buy stuff in Alberta when I lived in Sask to save on taxes. There is a 2-tier reward system, with different rewards & risks if you stake your AAVE or not. I have explored a lot on how to save taxes and I can clearly see there aren't much after certain point, you can't do much beyond 80C, HRA etc. This is effectively doubling what is displayed as the value of my tokens on all AAVE deposits. Running for more than 2 years with plenty of independent audits. I usually file my own taxes, with help from Cleartax and online resources. You get some ERC-20 token as receipt for that position that represents your share of that collateral pool. Much slang that didn't initially start as AAVE gets labeled AAVE sometimes anyway, even slang that originated in AAVE sometimes spreads more broadly to the point that it's no longer a uniquely black thing, and most significantly that policing non-black people for using words or speech patterns from black dialects is both really stupid and really racist. 0 for BTC/ETH lending. 846 (the tax-free financial assets) there will be calculated a fictional View community ranking In the Top 10% of largest communities on Reddit. In here you’ll find Schedule B for tax on interest, and Schedule 1 for income. 2- I’d hope my income continues to rise as through my career and into retirement so I’d rather pay tax on those investments now. My Aave transactions don't cause much trouble on Koinly but my Compound and Maker transactions are a disaster. Even worse, the same thing may be called by different words in different circumstances. I'm certain that a lot of folks will bypass the shitty regulations with formidable privacy solutions. But you save tax by showing your gross taxable income lesser by 1. Anyone holding these stables just to I deposited 100 USDC to AAVE but I can't see any "Claim Rewards" button or anything similar on the dashboard Does the interest add to the deposited Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - Pay taxes and pass it on to customers (most businesses now pay taxes after GST was introduced as it is strictly imposed by the government hence the surge prices in recent years). Kerouac and the Beats deliberately drew from AAVE to inform their counterculture, and their language reflected that. Ltd company. r/IndiaTax: A subreddit for all tax related queries and discussion in India. Celsius has a mobile app, with a desktop app coming this quarter. 04% WMATIC. In the mid-20th century, members of the counterculture often adapted AAVE in order to seem "cool" (which is itself AAVE that came into standard English from Black jazz musicians). If you're in 30% tax bracket, then it's about 30% of 70k = 21k in tax paid. Tokens sent to DeFi lending app like AAVE, does HMRC consider this a taxable event? in tax, the same word can mean different things in different circumstances. Anytime a money market like Aave gets forked onto a new chain means that the protocol will most likely pay you to borrow. e. I understand LEND to AAVE ratio is 1:100. If just depends upon your risk tolerance, but AAVE is definitely a solid investment. ICO Acquire(sm) helps you be in the best position to get into the most lucrative investments available today. Lido lets users earn staking rewards without I hold some Aave. I am able to see my aUSDC go up in value but there's no way for me to mai. The only change is that CA is reporting transactions. The company's mission is to maximize the value and utility of digital assets through our comprehensive product suite including advanced trading solutions, liquidity aggregation, tax-efficient asset-backed credit lines, a high-yield Earn Interest product, as well as the Nexo Platform and Nexo Wallet with their top-tier Hi If some could help me out that would be great, so here is my train of thought I thought by looping a stable coin like USDC visa polygon on AAVE I could have per say a line of credit so I tried that using my metamask but the borrowed some where it says "your borrows" doesn't show in the wallet only the assist to supply show and every time I borrow again that numbers get The moment you post your stETH in AAVE as collateral, it is transferred to a smart contract of the AAVE protocol. Aave gives you a governance token. Send stETH to AAVE Borrow against the stETH and get USDC Send USDC to Coinbase Withdraw and pay the credit balance Now other than the obvious downsides like; gas fees, the interest that AAVE requires which should be re-payed with the interest from LIDO, hacks, what else is there that could go wrong with this? As of right now, solend is the best. There are a number of crypto tax software programs available that can help you track your crypto transactions and calculate your taxes. Assuming your parents don't work and you are getting 6 lakhs HRA. But, if done the NGO thing, then only 21k tax + 3. appropriating aave would be someone who is not african-american and whose native language or dialect is not like aave then taking parts of it and using them in their speech; in other words, someone for whom aave is not and could not be their native dialect. Track and Evaluate your trades. With AAVE on Polygon for example, you get a percentage for lending your collateral plus MATIC rewards and for borrowing you receive MATIC rewards. Since you will be subject to tax audit you will need all expense proof for claiming eligible expenses Consider converting yourself into OPC/Pvt. Whether it is Income Tax or GST, this community is here to help. Your taxable income would decrease by the $1000, and you would save $250 in taxes compared to if you had spent the $1000 on a vacation. Lastly don't listen to most redditors. Nothing to do with the payment networks, physical cash, currencies, apps etc. Now let's say you donate $1000 to a charity. Is this a good metric to say Aave is overvalued? AAVE Strategy with ETH as collateral (Surprisingly quite resistant against price fluctuations) including questions regarding individual companies, ETFs, tax implications, index investing, and more! vs Vanguard or iShares upvotes · comments. Now your 1000$ of trading money is actually only 800$ cause of tax. At the moment there are 400 aave distributed per day to all staked which means apy at the moment is 5%. A small place on the internet where reddit users discuss their trades and I have about 10 Aave. The company's mission is to maximize the value and utility of digital assets through our comprehensive product suite including advanced trading solutions, liquidity aggregation, tax-efficient asset-backed credit lines, a high-yield Earn Interest product, as well as the Nexo Platform and Nexo Wallet with their top-tier insurance and military-grade security. AAVE isn't slang, although it has its own slang. Virtually all Black Americans speak a standard variety of English (surely somewhat more than speak AAVE). Hi there are there any AAVE experts that can help me with something please no scams Thanks You can borrow MAI (a new Polygon native stable, formerly known as miMATIC) against MATIC at 0% interest. Aave only recently introduced a 3 month Aave rewards program on their V2 to incentivize V1 users to migrate to V2. 5 lakhs which can be used as 80c. You may need to get a realtor license etc. I use both protocols,but I migrated Aave positions to L2 Polygon. Is there a way to track Aave's reward deposit history? Lido is able to do this with their Staking Protocol. I have been paying my due taxes "on time and in full" since last 9 years. And if OP's father is on the same tax bracket as OP, then too it will save tax overall as 30% of the rent will be waived off and father would have to pay tax on only 70% amount. How does liquidation work on Aave? Does it just liquidate enough to adjust your LTV back below the threshold (plus penalty) or do you get hit much harder? Ethereum and Taxes r/altcoin. Checking some recent transaction the used gas for AAVE is >200k whereas some other tokens only need about 60k. 1- tax rates are at all time lows right now, I’d personally pay taxes now than risk rates going up. On that I took 500 usdc loan, and later one month I paid off 500 usdc. The DeFi platform FolksFinance's design is based on AAVE, just adapted to AVM (rather a copy of EVM implementation). Use a crypto tax software. Aave also supports many more trading pairs on V2. It decreases as TVL increases but you can do quite well when they first launch and need liquidity The likelihood of it getting hacked is very small. 6. Look, I know. 4 L). In exchange you will get stkAave. 95% + 3. I certified my income using last year’s (2022) tax return when applying for the SAVE plan on the student aid gov website and it said that my monthly payment would be 0. Sorry for the necro. Ethereum and Taxes aiming to bring Reddit's attention to the significance of our Well with Aave you can put your bag of ETH to work with lending it out and earning a decent APY, and at the same time you can borrow against it to buy more ETH that you can put to work as well! In this post i will tell you how! Step 1. I have deposited 1 ETH into aave. So for the income tax 2020, the tax will be calculated over the value of your stock and cryptocurrencies on January 1st of 2020. r/altcoin /r/Altcoin is one of Reddit's original cryptocurrency subreddits, started 10+ years ago! Altcoins are generally considered everything but BTC Loans have tax advantages whereas selling the ETH directly might result in capital gains taxes. I am not aware how this would be done. including questions regarding individual companies (AAVE needs to be on avax for the link to work) Learn about budgeting, saving, getting out of debt, credit, investing, taxes, and retirement planning in the Republic of Ireland. However, on Aave, they recommend My plan is to move some of my btc to Coinbase, convert it to WBTC and borrow against it in AAVE, if needed. Additionally, you don't know what AAVE actually sounds like in practice. They create a nice CSV to export. However, the Tokenomics of the AAVE token are less rosy. Now compare: If you would have not done the NGO thing, you would have given tax of Rs 42k (30% of 1. AAVE is a legitimate dialect of English with its own unique grammar that is internally consistent. Step 2. It is a non-custodial protocol that allows for decentralized lending and borrowing. Let's say you're tax obligation is $20k, and your marginal tax bracket (amount you pay on last dollar earned) is 25%. I think everyone is in a state of trying to figure out what is a governance token worth the protocol does well does that mean a vote about the direction of the protocol is now more valuable? I was doing my taxes and I realized there is a random aave transaction on my polygon network. 9k of commission ~= 25k. If setup correctly, these don't show up on your profit & loss statement, remember it's all "your" money in the eyes of the IRS. The only case OP shouldn't do it is if recipient is in higher tax bracket than OP. An LLC taxed as a sole proprietorship is usually the best way to go. Health insurance for self and parents up to 50k Home loan interest upto 2 lakhs. From the Wikipedia page for “Ebonics” (citations omitted by me) John Baugh has stated that the term Ebonics is used in four ways by its Afrocentric proponents. Dividend paid - $80,000 15% gross up - $12,000 Taxable income - $92,000 Dividend tax credit (9/13*12,000) - $8,307 The dividend tax credit reduces the taxes paid by $8,307. Tax rate is about 25%, which is less than the highest income tax slab of an individual. Not sure what that will be yet though it does save you taxes if we’re talking 6 figures and up, until such time as you draw personally from your corporation. As of today those tokens are now showing up with the equivalent tokens value. Price movement on Aave has been great too, but CEL token is up over 3,000% in the past year. These forms can be downloaded from the IRS and are also built The real benefit of Aave imo is borrowing against your assets. Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. Meanwhile, federal income tax is a progressive system, and with only $25k of net income you'll not pay very much income tax (if that's your only income for the year at least). Nobody likes paying taxes to the Govt. The 60/40 Rule is the Traditional Portfolio, where you maintain that Allocation (assets weights) . It's easy to use. I have some USDC deposited in Aave. firm in 2008. money allows you to deposit interest-bearing tokens from places like yearn and borrow against them. If you borrow against your asset, you only owe interest. I can only see staking options for AAVE & BPT. Personally I’ve used both aave and compound. dmln egxf lakm txqe hrjqk yqibru tybi bpcvxmn eotc xzhndct