US taxes how does it work

Question. How does the tax game work for US citizens?

Your question is very broad. For the most part all US citizens are taxed on their worldwide income by the US. If you live in a different country and earn wages in that country you are taxed by the US based on the tax treaty signed with the specific country. There is typically an exempt amount of wages that is not taxable.

@Duane_Taylor Are you referring to the tariffs on imports specifically? Like pezpeople said, this question is too vague.

You can depreciate your machines over 5 years

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Sorry I mean when you cash out crypto for usd.

When you cash out of crypto it is treated as either a capital gain or a loss. It is the price you sell it for minus your basis. It will either be short term if you held it less then a year or long term if you held is longer then a year.

Thanks. That is what I thought. Just making sure.