Want to know “How to avoid taxes on Crypto” capital gains?
There are a lot of ways you can reduce or cut your Crypto taxes with a little strategy and planning. It all depends on your specific situation, business, or personal financial goals.
Some basic ways to reduce your Crypto tax liability are:
- Tax Loss Harvesting – Maximizing tax reduction on gains by optimizing crypto losses
- Roth Self-Directed IRA/401K Strategies – To control taxes paid on gains
- Gifting, Donating Assets, Estate Planning – To reduce tax liability
- Use an Accounting Method other than First In First Out (FIFO) – to lower your tax burden
- Rebalancing vs HODL – to drive higher Crypto portfolio returns
- Take advantage of a little-known IRS allowed 0% Long term capital gains tax rate
Don’t be left in the dark about your crypto tax responsibilities, potential liability and how you can cut your crypto tax. As blockchain technology becomes more prevalent in everyday life and in the business world, the IRS will continue to increase its scrutiny of crypto-related transactions.
IRS audits on virtual currency transactions and the crack down on unreported/under reported crypto activity is projected to explode this year and over the next few years.
If you’re worried about doing your Crypto transaction accounting and tax returns yourself (or you don’t have the time or interest to do many hours of further study in Crypto taxation), you can delegate your Crypto tax burden to a Crypto specialized tax accountant.
If you want to learn how to avoid Crypto taxes, you must closely follow IRS rules in setting up your strategy. After, you must stay in compliance with the tax code. If you don’t follow the rule of law to reduce your Crypto tax, the IRS could disqualify the way you’re trying to apply tax law. If that happens you could owe back taxes, penalties and interest.
Don’t be penny wise and pound foolish in trying to avoid or lower your Crypto tax bill. Being too greedy, too aggressive and breezing-over IRS rules, could hurt your current and future Crypto wealth.
Just one moderate-level penalty for not reporting, under reporting or incorrectly reporting on your tax return (in one tax year) could easily cost you thousands of dollars! The one dollar you spend in professional Crypto tax services, could save you 2, 4, 5, 7 dollars of more in tax savings (by setting-up your strategy and following IRS requirements correctly).
How to reduce or avoid Crypto taxes on capital gains has been one of the biggest goals of my clients during my 5+ years as a Crypto tax accountant (during my 17 years as an accountant to individuals and businesses).
If you think I missed another important aspect of how to avoid Crypto tax, please add it to the comment section below. I’ll be sure to follow up with you.
If you got something out of this video (even if you knew all this info, but reinforced what you already know, or pushed you into action to get this monster conquered), please like this video and give it a thumbs up.
Do you want more step-by-step videos on Cryptocurrency taxation and how to potentially reduce your tax liability through tax planning and strategy? Then please subscribe to my channel. That way you don’t miss pending a Crypto Tax topic that personally fits your circumstances and helps you grow your crypto activities exponentially.
My free videos allow you to pick my brain and help you build Crypto wealth faster and easier than you thought possible. Thank you for watching.
Interested In Cutting-Your-Crypto Tax?
Want more information?
Let’s see if I’m a good match to help you.
Please schedule a brief call now.
It’s quick, easy and no stress!