Top Crypto Tax Tips

Crypto Tax Tips: ESSENTIAL GUIDE To Save Sats!!

By Guy

⚖Tax Avoidance vs. Tax Evasion⚖

Tax avoidance is legal, whereas tax evasion is illegal. There are dozens of ways you can legally avoid taxes, but they usually aren’t worth it unless you’re making *a lot* of money. For example, setting up a shell company in the Caribbean or temporarily relocating to another country won’t make much sense if you only stand to save a few grand in crypo tax.

➖Minimize Taxable Events➖

Ideally the only taxable events should be when you cash out that crypto back into fiat. This is much easier said than done and you’ve probably already racked up a fair bit of crypto-crypto transactions, might have earned some staking rewards, have probably been airdropped a few random tokens. Instead of making sense of the madness on your own, you can use a crypto tax software to help you.

📅Split Gains Between Tax Years📅

See if it would be worth your while to actualize some of your gains in the next calendar year. Whether or not you can do this will really depend on how this bull market plays out and what coins or tokens you’re holding.

💱Write Off Crypto Gains As Expenses💱

If you’re going to be cashing out of crypto, you are probably going to be spending some or all of that money on something, be it a car or a home or items related to one of your hobbies. Freelancers and companies can write off many of the things they purchase as business expenses. See if this route is available to you.

➰Tax Loopholes➰

One of the most universal tax loopholes involves gift giving. In some countries, giving cryptocurrency as a gift is not a taxable event, and sometimes the person receiving that crypto is able to sell it and pay no capital gains if the value of the crypto in fiat is the same or less than when they got it.

🐫Crypto Tax Havens: UAE🐫

The UAE has no capital gains tax and no income tax. It is also very friendly to foreigners and is by all accounts a fully developed country with world class services amenities. There is also no shortage of affordable Lamborghinis.

🏰Crypto Tax Havens: Europe🏰

Switzerland, Portugal, Germany, Belarus, and Malta are all very friendly as far as crypto taxes go.

🌏Crypto Tax Havens: Asia🌏

Singapore and Malaysia, though both can be prohibitively expensive as far as living goes. Hong Kong is also an option but not a good one given everything that’s going on there at the moment.

🤨Crypto Tax Havens: USA!?🤨

If you are American, your best option as far as crypto tax havens go is Puerto Rico. As a US citizen, any cryptocurrency gains you make after you become a resident of Puerto Rico are tax exempt. This even applies to cryptocurrencies you were holding prior to moving there or establishing your permanent residence. This is thanks to something called ‘Act 60’ which is meant to incentivize big brains and big money to relocate to Puerto Rico.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

📜 Disclaimer 📜

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.

Latest videos

Is This The RECESSION are we in a recession
Is This The RECESSION?! Here’s The FACTS You Need To Know!!
Is This The RECESSION are we in a recession

Is This The RECESSION?! Here’s The FACTS You Need To Know!!

July 5, 2022 2 min read
Crypto News Cardano Bitcoin ETF Cosmos Voyager
Crypto News: Cardano, Bitcoin ETF, Cosmos, Voyager & MORE!!
Crypto News Cardano Bitcoin ETF Cosmos Voyager

Crypto News: Cardano, Bitcoin ETF, Cosmos, Voyager & MORE!!

July 4, 2022 2 min read
central bank cbdc plans
Crypto Holders WATCH OUT!! THIS Is The Future THEY Want!!
central bank cbdc plans

Crypto Holders WATCH OUT!! THIS Is The Future THEY Want!!

July 3, 2022 2 min read
CRAZIEST Crypto Hearing EVER Here’s What Went Down
CRAZIEST Crypto Hearing EVER! Here’s What Went Down!!
CRAZIEST Crypto Hearing EVER Here’s What Went Down

CRAZIEST Crypto Hearing EVER! Here’s What Went Down!!

June 30, 2022 2 min read
Top 5 BEST Hardware Wallets Which Are The SAFEST
Top 5 BEST Hardware Wallets: Which Are The SAFEST?!
Top 5 BEST Hardware Wallets Which Are The SAFEST

Top 5 BEST Hardware Wallets: Which Are The SAFEST?!

June 29, 2022 2 min read
Polkadot Deep Dive Can DOT survive the bear market
Polkadot: Can DOT Survive The BEAR Market?! Deep Dive!!
Polkadot Deep Dive Can DOT survive the bear market

Polkadot: Can DOT Survive The BEAR Market?! Deep Dive!!

June 28, 2022 2 min read
Crypto News Harmony Celsius Voyager Solana FATF
Crypto News: Harmony, Celsius, Voyager, Solana, FATF & MORE!!
Crypto News Harmony Celsius Voyager Solana FATF

Crypto News: Harmony, Celsius, Voyager, Solana, FATF & MORE!!

June 27, 2022 2 min read

Related videos

Is This The RECESSION are we in a recession
Is This The RECESSION?! Here’s The FACTS You Need To Know!!
Is This The RECESSION are we in a recession

Is This The RECESSION?! Here’s The FACTS You Need To Know!!

July 5, 2022 2 min read
Crypto News Cardano Bitcoin ETF Cosmos Voyager
Crypto News: Cardano, Bitcoin ETF, Cosmos, Voyager & MORE!!
Crypto News Cardano Bitcoin ETF Cosmos Voyager

Crypto News: Cardano, Bitcoin ETF, Cosmos, Voyager & MORE!!

July 4, 2022 2 min read
central bank cbdc plans
Crypto Holders WATCH OUT!! THIS Is The Future THEY Want!!
central bank cbdc plans

Crypto Holders WATCH OUT!! THIS Is The Future THEY Want!!

July 3, 2022 2 min read
CRAZIEST Crypto Hearing EVER Here’s What Went Down
CRAZIEST Crypto Hearing EVER! Here’s What Went Down!!
CRAZIEST Crypto Hearing EVER Here’s What Went Down

CRAZIEST Crypto Hearing EVER! Here’s What Went Down!!

June 30, 2022 2 min read
Top 5 BEST Hardware Wallets Which Are The SAFEST
Top 5 BEST Hardware Wallets: Which Are The SAFEST?!
Top 5 BEST Hardware Wallets Which Are The SAFEST

Top 5 BEST Hardware Wallets: Which Are The SAFEST?!

June 29, 2022 2 min read
Polkadot Deep Dive Can DOT survive the bear market
Polkadot: Can DOT Survive The BEAR Market?! Deep Dive!!
Polkadot Deep Dive Can DOT survive the bear market

Polkadot: Can DOT Survive The BEAR Market?! Deep Dive!!

June 28, 2022 2 min read
bottom for crypto markets
Was This The Crypto BOTTOM?! Are We Heading LOWER?!
bottom for crypto markets

Was This The Crypto BOTTOM?! Are We Heading LOWER?!

June 26, 2022 2 min read