How Crypto Trading is TAXED! 📈 (wETH, Bots, Margin! 🙌) - CPA Explains

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  • Опубліковано 14 гру 2024

КОМЕНТАРІ • 69

  • @CryptoCasey
    @CryptoCasey  2 роки тому +1

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    Hello, fam! 👋 In this important video, we interview a leading crypto tax CPA. We discuss taxes on different crypto trading activities like: wrapped tokens, trading bots, margin trading, and more. Be safe out there! -Crypto Casey
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  • @zerocool4319
    @zerocool4319 2 роки тому +7

    What makes me mad is it’s your money that you have earned and already have paid taxes on it. Your the one taking a chance to make money with your already taxed money trying to not be a bum and live off the government but if you work hard by doing research and investing and make a profit the government wants 40% of your money for capital gains tax so they can frivolously waste it. F THEM

    • @NatureLovingIntellectual
      @NatureLovingIntellectual 9 місяців тому

      Agreed. That's why I became tax exempt. No getting mad now... for me anyway 😂

  • @bubzsantiago7779
    @bubzsantiago7779 2 роки тому +1

    you and cryptocrow are the only two people that dont try to pump coins. i personally love how you explain everything crypto without talking about coins or tokens. youre an honest woman. thank you for teaching the newbies about this space.

  • @MG46931
    @MG46931 2 роки тому +1

    highest in first out is the best option for me. I use tax bit and its def one of the best.

  • @kipmagoo
    @kipmagoo 2 роки тому +1

    Would you do a video explaining the Airwaive and Helium models??

  • @jesserichard5953
    @jesserichard5953 2 роки тому +14

    *The crypto market is filled with people who know the price of everything, but the value of nothing. That's why I will forever be grateful to you Vera 😇 you've changed my life, you've saved me from a huge financial debt with just little investment, Thanks Ms Vera Sanders*

  • @Healinginstituteoficial
    @Healinginstituteoficial 2 роки тому +9

    My biggest regret was not investing into Bitcoin when a friend of mine introduce me to Bitcoin in 2014

  • @ai_robozen
    @ai_robozen 2 роки тому

    Lorenzo, my guy. Much love from Italy 🇮🇹

  • @TheForexApostle
    @TheForexApostle 2 роки тому

    Tax is very important, very good on how an accountant explains this.

  • @ryanj2743
    @ryanj2743 2 роки тому

    Thank you. I really enjoyed the content for this video!

  • @Chewbacca2000
    @Chewbacca2000 Рік тому

    Thanks!!

  • @MarcelinaWesterfeld
    @MarcelinaWesterfeld 2 місяці тому

    Thanks for the forecast! 📊 Just a small off-topic question: 😅 I have these words 🤨. (behave today finger ski upon boy assault summer exhaust beauty stereo over). How do I use this? 🤨

  • @haroldhand2877
    @haroldhand2877 2 роки тому

    Nice video ...maybe with your platform you could mention the upcoming food crisis , talk to your viewers about planting a little food , it is obvious the government has no plan

  • @kylowe27
    @kylowe27 2 роки тому

    Thank you Casey, your a godsend.
    Any chance you can include how to best calculate reflections earned from tokens and if they are in fact a taxable event? Since it never is sold and just added to your token total I wasn’t sure how it is treated by IRS standards.

  • @haydenforder6235
    @haydenforder6235 9 місяців тому

    If you’re in a long trade spread over the duration of 2 financial years ie open trade Jan 23 close trade Oct 24 making a healthy profit? When is the tax on trade allocated ?

    • @factspirate99
      @factspirate99 8 місяців тому

      The year you sell and take the profit.

  • @adamjonmonroe7188
    @adamjonmonroe7188 2 місяці тому

    Land ownership (according to market value) is the only thing that should be taxed.

  • @farsight42
    @farsight42 2 роки тому

    I was wondering about switching accounting method!! Good to know, I’m thinking of just doing fifo for long term tax bracket.

  • @gsgidney
    @gsgidney Рік тому

    How would Cypto-Ledger work when using a crypto AI bot that gives you gains on a weekly basis?

  • @jaykrambeck9482
    @jaykrambeck9482 Рік тому

    what I want to know is when withdrawing just a small portion of my crypto wallet do I have to pay taxes on all of my crypto in my wallet?

    • @factspirate99
      @factspirate99 8 місяців тому

      If you gained money then yes. Sadly the government doesn't make it easy. They don't have to do it this way but it makes them billions of dollars a year so it will likely never change.

  • @Just_An_Idea_For_Consideration
    @Just_An_Idea_For_Consideration 2 роки тому

    I have a question not necessarily related to this specific video:
    You video are the most well explained of any i have watched on crypto,
    my question:
    when a person pays with crypto what is the detailed process of making the payment?
    I gave zero knowledge but here are my concerns:
    When paying do I have to connect my cold wallet to the internet so it can use my 24 words (or some kind of password) to permit my account to release funds to pay out?
    If yes what is to prevent a virus on any computer between my device and the blockchain from capturing my password or words?
    What is the exact security process when making a payment?
    I am hesitating to but into any crypto so far because I do not understand how my funds are protected from a virus that might capture the details of the transaction as it moves ethernet packets from ip to ip until it reaches a blockchain connected node?
    PLEASE PLEASE Help me understand this.
    It might also be a good video.
    Thx

  • @aaron9142
    @aaron9142 2 роки тому

    How would taxes work in this scenario:
    Buy a crypto using USD fiat. Said crypto's value sky rockets, but your exchange doesn't allow you to sell for USD fiat so you have to trade it for USDT then trade the USDT to USD fiat.

    • @CryptoCasey
      @CryptoCasey  2 роки тому +2

      USD to crypto, no tax liability. Crypto to stable coin is taxable. Stable to USD is not taxable.

    • @aaron9142
      @aaron9142 2 роки тому

      @@CryptoCasey Thanks.

  • @lesleyliu8978
    @lesleyliu8978 2 роки тому

    Hi, does any one know that is an unregulated exchange have the right to ask you to pay tax to them on the profits you made, and if you don’t pay to them the tax you incurred you can’t withdraw money from your account? Is this unregulated exchange could be a scam?

  • @kanhaiyaashtekar7185
    @kanhaiyaashtekar7185 6 місяців тому

    Crypto Casey ❤

  • @plinutul
    @plinutul 2 роки тому +2

    Is this for US or Canada?

  • @jasondratman5584
    @jasondratman5584 2 роки тому

    Hi Casey as always you provide premium content. I do have a question? I transfered xlm from my Coinbase to Bitrue and it never arrived. Bitrue has asked me for info that I don't know how to gather for them to investigate. Im really at at a loss...no pun intended.. who could help me retrieve? Thanks 👍

  • @PhamVans
    @PhamVans 2 роки тому

    Crypto sounds cool, but I think I'll hang on to my safe full of cash and gold, don't need to worry about no tax man coming around me.

  • @georgejonny3579
    @georgejonny3579 2 роки тому +2

    My life has totally changed since I started an investment of $6,000 and now earning $19,000.

    • @gavinbrandon4006
      @gavinbrandon4006 2 роки тому

      I have been hearing about people making millions of dollars from trading investment, Please how do I go about it.

    • @georgejonny3579
      @georgejonny3579 2 роки тому

      @@gavinbrandon4006 It’s very simple, All you have to do is start trading investment with EXPERT Mrs Rhian Lewis . Her trading strategies is mind blowing.

    • @georgejonny3579
      @georgejonny3579 2 роки тому

      Since I started trading with $250,000 Thanks to EXPERT Mrs Rhian Lewis I've been earning $680,000 monthly profit, I got her recommendations from my best friend on August,3rd 2021 and since then I and my family have been free of financial issues. As a newbie in the field of investments Mrs Rhian Lewis guided me through and now my life has been a successful one, I've achieved a lot in life thanks to Mrs Rhian , May God bless her for me and so many others she has also changed their lives around the world.

    • @gavinbrandon4006
      @gavinbrandon4006 2 роки тому

      @@georgejonny3579 That's very good, how can someone contact or reach out to Mrs Rhian Lewis ?

    • @georgejonny3579
      @georgejonny3579 2 роки тому

      ෴+𝟏𝟐𝟏𝟑𝟓𝟏𝟔𝟔𝟗𝟑𝟕෴꧂👈

  • @Mrpugi
    @Mrpugi 2 роки тому

    Is stable coin to stable coin a taxable event
    Example usdt to usdc

  • @GroovyKim
    @GroovyKim 2 роки тому

    OMG! So this means that most of the crypto trading newbies will be in trouble with the IRS! There will definitely need to be better tools to help the masses with this problem. Many exchanges don't even have a history to download.

  • @ersoydede6561
    @ersoydede6561 2 роки тому +23

    I have learned in recent months it is to remain calm, especially when it comes to investments in cryptocurrencies. Learn not to sell in a panic when everything goes down and not to buy in euphoria when everything goes up. I advise y'all to forget predictions and start making a good profit now because future valuations are all speculations and guesses.The market is very unstable and you can not tell if it's going bearish or bullish.While myself and others are trad! N without fear of making a loss others are being patient for the price to skyrocket, I would say trading has been going smoothly for me, i started with 2.5 BTC and i have accumulated over 7.6 BTC in just three weeks, with the trading strategy given to me by expert trader Greg Yichen..!

    • @ersoydede6561
      @ersoydede6561 2 роки тому +1

      @Weston ClReach him VlA Te le gr am > Gregyi2

    • @professor7329
      @professor7329 2 роки тому

      My best bet remains Greg Yichen, I get the best copy trad'es from Mr.Greg, keep's your portfoIio growth up.

    • @veronicai.c.5484
      @veronicai.c.5484 2 роки тому

      Throughout my crypto experience, Greg Yichen has been the most consistent and dependable source of information.

    • @barrister.nitish6785
      @barrister.nitish6785 2 роки тому

      I've gained 5.7 BTC in less than 18 days of day trading with 1.8BTC. Greg's strategy works.

    • @brai1988
      @brai1988 2 роки тому

      grew my coin this month to 14 btc with Yichen's guide. I'm grateful

  • @terraunida-apalavraescudoe3824
    @terraunida-apalavraescudoe3824 2 роки тому

    The add in between videos about Elon musk and bots is a scam

  • @Knotnow3794
    @Knotnow3794 2 роки тому +1

    Good stuff! Having my taxes done by a professional who completed them for me last time. I have cryptos as part of my portfolio. Hope it won't get me in a pickle?!