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Imagine the year is 2022. Your friends are all out doing things again and having fun. You have a ton of money in your bank accounts. Yes, plural. You are married to a supermodel. One lovely morning you wake up. You slowly make your way down your wraparound staircase, and then all of the sudden you hear a knock at your door. You wonder, who can this be, knocking at my door at 9am in the morning? You open the door. It’s two people in suits and badges with the word IRS written across them. One of them looks at you dead in the eye, morning breath smelling like too much coffee, and says: we’re here to speak with you about some unpaid crypto taxes. Is this situation a little harsh? Yes, however, crypto tax mistakes and underreporting is real. Today, we’re going to talk about some of the most important crypto tax laws and how you can get some help organizing your crypto taxes with our pals over at TaxBit.
4:42- Sell Crypto for Cash
4:59- Traded for other crypto
5:20- Buying with crypto
5:45- Not Taxable
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All of our videos are strictly personal opinions. Please make sure to do your own research. Never take one person’s opinion for financial guidance. There are multiple strategies and not all strategies fit all people. Our videos ARE NOT financial advice.