ACCOUNTANT EXPLAINS: A Full Crypto Tax Guide
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- Опубліковано 18 чер 2024
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Every time I listen to one of your shows, I hate the federal government and the IRS more and more
I was thinking the same thing!
Lol, I was thinking how much money that I pay that goes out the window to another country. Lots of unaccounted cash payments to the big guy and other demm RINO politicians.
govts can only ever be used for evil, the only thing they claim the right to do that no one else has the right to do is to force peaceful people to fund and obey them... the only reason anyone needs that right is to force you to fund and do things you wouldnt do voluntarily, logically speaking govt can only ever be used to make you fund and do things you would never do voluntarily, ergo all govt is evil
@@thinkingimpaired5663 When you pay Federal Taxes, it goes directly into the pockets of the international bankers who own the Federal Reserve (a private corporation that isn't remotely a government agency).
Do you or your husband own a gun?
I realized that the secret to making a million is saving for a better investment. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested $10k in Bitcoin and made about $246k,but guess what? I put it all back and traded again and now I am rounding up close to a million
Please how do y'all even make so much from crypto trading?
I need a financial advisor who will help me with financial planning, investment decisions, and wealth management
I will mention and recommend John Zevr
I'm thrilled at the prospect of learning from a coach like John Zevr Crypto
With his mentorship, I feel more confident in my ability to navigate the crypto market and make informed decisions.
As always, a great analysis. Newcomers often wonder if it's too late to navigate the financial market, but the market is always unpredictable. Trading has more advantages than simply holding, so it's important to learn before diving in. Active trades are necessary to ride the market's waves. Thanks to Whitney Eston’s insights, daily trade signals, and my dedication to learning, I've been increasing my daily earnings, managed to grow a decent 732k. Kudos to the journey ahead!
I'm interested in expanding my knowledge, how do i get in touch with this anaIyst?
Whitney Eston program is widely available online..
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience...
I appreciate the professionalism and dedication of the team behind Whitney's trade signal service.
Whitney Eston strategy has normalized winning trades for me and it’s a huge milestone for me looking back to how it all started…
What is the best strategy to enter crypto trading now for someone with more or less than $25k
You need a pro or very goodTrader. Someone like Jared Brian Watkins
Almost gave up due to constant losses, but Jared turned my luck around
I went from 50k to 400k with Jared. Thanks to that I paid off my debts
Leveraging market changes is a remarkable talent Jared has
In what way will someone get hisguidance
The year 2024 is a year for each and everyone of us to make a fresh start, by making passive investments for a more stable and doubled income
The previous year was difficult and never worked in my favor, I'm thinking about starting up on stock market investment
I started paying more attention to stock and learning more about online trades few days ago, thanks for the advice, I wish everyone will take this seriously!!
The economy is favorable to those who where able to get themselves into one investment or another, most people see investment as something big they can't participate in because they're too scared to venture into one.
So true, thanks for bringing this up to my notice, the truth is this economy wouldn't be so bad if people indulge themselves more with various investments rather than just depending on their stipends and savings, because the economy wouldn't always remain as it was
Today we have a lot of opportunities to invest in different commodities, stocks, cryptocurrencies and so much more but some people just sees this as a challenge and shy away from it
Watching the crypto market's rollercoaster ride, it's clear how quickly fortunes can change. The recent misinformation incident is a stark reminder of the market's sensitivity to external influences. It's a world where strategic, informed trading is not just a choice, but a necessity. Remember, in the realm of crypto, caution is as valuable as ambition. Stay sharp, stay diversified, and let's ride the waves of this unpredictable market together....At the heart of this evolution is Adriana Jensen, whose deep understanding of both cryptocurrency and traditional trading has been instrumental. her holistic approach to investment and commitment to staying abreast of market trends make her an invaluable ally in navigating this new era in cryptocurrency investment.
She's mostly on Telegrams, using the user name
adrianajensen
That's her username
It really helped trading with Adriana Jensen analysis and info, even with the market in a downward trend . Definitely riding the market wave is a good perspectives
I read about her too on the website. That is how I get connected to her. Thanks for putting this down here
Thanks. I'm in for life.. ain't nothing shaking me out. Being a little guy I'll always have a way to get cash turned to Crypto. I know this next run will be amazing! I'm just happy to be a part of this new age of finance.
The introduction of a Bitcoin ETF marks a groundbreaking moment in the cryptocurrency world, merging digital currencies with traditional investment methods. This innovation could stabilize Bitcoin prices and broaden its appeal to a wider range of investors, potentially increasing demand and value. At the heart of this evolution is Sarah Jennie Davis, whose deep understanding of both cryptocurrency and traditional trading has been instrumental. Her holistic approach to investment and commitment to staying abreast of market trends make her an invaluable ally in navigating this new era in cryptocurrency investment
:nvesting in non-government sources of income is the most prudent idea that anyone can have these days, especially in light of the global economic crisis that we are all experiencing. :nvesting in gold, silver, and virtual currencies (stocks like Bitcoin, Ethereum, and so on) is still a smart idea
She is really a good investment advisor. I was privileged to attend some of her seminars. That is how I started my crypto investment
I have heard about her excellent trading expertise in CNBC news, guess she's more popular in United States
YES!!! That's exactly her name (Sarah Jennie Davis) so many people have
recommended highly about her and am just starting with her from Brisbane Australia
This sounds so good and i would like to be a party to this, is there any way I can speak with her?
It should ONLY be when you take your money out, just like at the casino. You don’t pay taxes just because you’re up at the table. It’s only when you leave the casino. We need better regulations.
This youtuber does not have the rules down right... digital asset news had coin ledger guys on their channel last week and they have different rules... if you hold over 1 year without selling its 0% taxes as long as you make less then $86k a year
@@FPVMgunit13uhhh what dont think thats true 😅
Is this in the US or a different country?
what if you make more than 86k for the year?@@FPVMgunit13
He is right and u may be as well. Your short term or long term capital gains tax is based off of your income level. Its a sliding scale.
That’s why I left the US and have citizenship to Dubai and Switzerland. The US and UK and Canada are taxing their citizens on everything.
Para .. sititic.
@@Wi2Low real law u don't have to pay ... legal fiction citizen person has to.
@@Wi2Low succumbing to evil does not make evil.. good . As you sheep
How much are the illegals crossing the southern border paying in taxes?
It must be good to be rich. Most of can't even afford a foreign citizenship.
you know what's crappy about exchanging one coin for another. yes it's taxable. but in your example, you can't trade a house for a house directly, you have to sell it for usd and buy another one. in crypto land, you can directly trade one crypto for another. that shouldn't be taxable the same way as selling.
And in the US if that house is an investment trading for another investment property you can do a 1090 exchange and mainly eliminate most of the taxes owed. 😮
@@StupidRalph good to know. If only you could do that for crypto. Stupid tax laws
Where are the crypto laws? There are none. So how can you tax something that doesn’t exist in LAW. The irs and judges interpret and enforce law. How can they when there are none?
I believe that is a taxable event
If the IRS is so on top of this they should be able to tell me how much I owe them!
This gets brought up a lot. Not sure how the IRS would know other than W2’s wagers? (Which they do). How does the IRS know how much I owe from my 1099 business?
What if you got a paper wallet with crypto on it as a birthday gift? Is that taxable when you trade the wallet for USD cash?
@@sizzelot Yes indeed. Check for the exact amount if over $10k to report only, it may be ok lower amounts, or the gray area is if you sent it privately as tender is questionable and on the receiver. I believe Mark means if you spend using a debit card, that broker is making the trade for you in the order books live to complete the debit transaction.
@@sizzelot Yes, when you cash out, off ramp, what ever, where will it be for cash??? Answer. A place that is regulated to report sales they pay out, business as usual.
i would love for it to be this straightforward but they treat people like they have something to prove to them instead of the other way around.
If we all don't pay the IRS all at once, we win.
False
50% of the population already pay no taxes.
I like your answer but it is false. We pay taxes on everything we buy. And I pay all my taxes and even more than what I owe.
Well there’s taxes on almost literally EVERYTHING, so I’d imagine OC was talking about the taxes that we can avoid paying we all decide to not pay at once.
you can tell yourself that in a loony bin. If everyone didn't pay taxes I'm sure any remaining tax funds left would be pumped into the Military to hunt us all down.
I love that you stress the truth and provide real examples. You rock Mark!
Lots of excellent information in this video. Thank you.
What a fabulous video! Ty for the great information. ❤
Why no mention of taking out loans instead of selling crypto? Either fiat loans or crypto-backed loans and then just make minimum payments. You get liquidity without having to sell and take the tax hit. This allows your crypto to run higher and when/if you eventually need to sell to pay off loan, you can do so with much higher profits or roll over the loans.
Yes| why?
What companies are offering loans with crypto as collateral?
@@kgreen175 Unchain Capital, Hodl Hodl, Shapeshift, Nexo
@@kgreen175nexo
@@kgreen175there are some like Ledn, but I’d wait until banks offer it.
He strikes me as someones whos working for the IRS. lol
😂
Exactly. He sounds like a hater.
The way he explains things comes off as fear mongering. He mentioned MetaMask which is a wallet and implied sending crypto there is a taxable event. Dude’s selling something
5 stars! 4real! I learned a lot! Keep the investment education coming…loving it! Thanks a million 😮 Uncle Sam wants his!😅
I’m glad the first 20 mins of a hopefully educational video was telling you to pay taxes after I already paid taxes and want to prep to do it better next year.
FML
I will forever appreciate this channel, you’ve helped me and my family a lot, your videos, advice and lessons are inspirational helpful to us,
I now earn every week. You’re such a blessing to this generation, we all love you
I will love to be your friend dear as well as sharing some i dears which you're benefiting.
Okay but is not luck, is all about having good investment plans most of all trading with a trust worthy expert.
Watching professional trading videos and most especially connecting with the right person the digital world is full of in unreal people I met some of them during my success journey. I felt same way when I started especially when you use demo account you might be winning but when you put in real money you start losing I understand and I pass through it all. I’m very happy I’m profitable now.
Hey how good are your earnings I will like to get some insights into trading thank you.
Currently i can attest to the fact that I
make $18,300 weekly through trading
which is more better then my monthly salary job. Trading becomes my passive
income.
I can relate to all you said becaus am facing similar thing right now.
Congratulations I wish you more success.
Time to relocate.
Excellent information ! Thank You. 😎😎😎
Very informative thank you 🙏
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Nicole Miller.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
You trade with Nicole Miller too? Wow that woman has been a blessing to me and my family.
I'm new at this, please how can I reach her?
she's mostly on Telegrams, using the user name.
What's interesting about Crypto is that it's a volatile, highly un- regulated market, yet you have to pay taxes on any sell or trading?
I appreciate you bro, thank you for the info.
Thank you for being the buzz kill that I need.
You're the best, just to the point and straight forward. Thank you for always providing the great advise.
7:03 this isn’t THAT game tho. These are considered commodities not securities which is what makes this completely different. The IRS just isn’t familiar with it so it wants to settle it as if it were securities
Great video 👍 Thank you🎉
Does your stocks losses subtract from crypto gains?
Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in last month 2024
I'm 37 and have been looking for ways to be successful, please how??
Sincerely speaking. I will continue to trade and stick to katherine Flores daily signals and guides as long as it works well for me.
Woah for real? I'm so excited. Katherine Flores strategy has normalised winning trades for me also. and it's a huge milestone for me looking back to how it all started
I'm new at this, please how can I reach her?
she's mostly on Telegrams, using the user name.
Stop filing abolish the irs
Federal taxes don't pay for anything that benefits us anyway. They just print whatever they want into existence.
You first
Thank you very much for this informations.
This is huge will be making a lot of trades this year and need to be prepared. This helped tremendously
I hate the IRS even more after this video. Why are they all in your business? Makes me not want to invest in crypto or stocks. Oooo I’m so pissed😡
That’s what they really want, scare us away from making real money like them.
Exactly we are trading for them
You don’t have to sale your crypto to obtain another sir.
I MOVED TO Florida in 2017 (no state income tax) and have most of my assets in a ROTH. I do not draw from these accounts. I am 72 years old, RPh and MBA.
I like your contents a lot! one questions: which loan(s)'s interests to purchase crypto is tax deductible? thanks!
Thank you Ronal’ for your TA 💯. I’m excited how my trading is going so far. I’m on $1m challenge right now. Already earning $35k weekly
he’s mostly on Telegrams, using the user.
@R o n a l f x 2.
SCAM Alert ‼️
May Allah bless Ronal’ for his help. I'm glad my doubts have been cleared, and i received my profit from last week's investment. Keep up the great work
I'm Glad i had positive trades with Consistent profits , less financial stress, and a satisfying lifestyle. Keep it up! Sir Ronal’
Koinly is great!
Love this guy - he’s delivering the nasty tasty medicine with amazing humour - who is this guy he’s brilliant ❤
Very informative! Can you please link the specific podcast that addresses the Celsius Bankruptcy?
I want a President who will call this a currency, right? Then it would be like forex, right? No tax on exchanging currencies, right? Or am I way off on this?
It's not a currency, not a security, not a commodity, etc. There's nothing like it but everyone who deals with all the above has vested interest in claiming it as part of their domain.
Thanks for the advice! I'm new to financial planning and wasn't sure where to start. Any tips on finding a reliable financial adviser or resource to guide beginners?
Despite all the financial struggles i and my family faced, everything is finally falling into place! $47,000 weekly profit and riches I'll always praise the Lord!!!
HOW
....!! I know it's possible, I would appreciate if you show me how to go about..
Sincerely speaking. I will continue to trade and stick to expert De vion daily signals and guides as long as it works well for me.
Please ,,I'm new here how can i contact her???
she's mostly on Telegrams, using the user name.
Wow.. 🤯 little did I know . I have to get on this
Do my COINBASE Fees count as "expenses" to offset my Short Term Capital Gains on Day Trading ?
I've been making a lot of losses trying to make profit trading. I thought trading on a demo account is just like trading the real market. Can anyone help me out or at least advise me on what to do?2:13
I'd recommend Camila Boyer, her profit is great even when there's a dip
Hey i'm shocked you just mentioned and recommended Camila Boyer i thought i was the only one trading with her
you dont need to be shocked haha because i'm also a huge beneficiary of her
I've seen positive reviews of this professional, she must be exceptional for people to talk about her goodness
Please how can someone get to speak with her?
Financial planning is like navigation. If you know where you are and where you want to go, navigation isn't such a great problem. It's when you don't know the two points that it's difficult
People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
Well it is a bare faced cheek to ask for tax, that's how many of us feel. Those who listened to dog poo, worthless, ponzi scheme etc. When the establishment did all they could to stop us investing in crypto. I plan to Bank mine. In the Azores in my Crypto Bank, then leave my land. So advice on that 0lease.
Thank you
So in you use ether to pay for a pizza the govenrment gets to double tax you? cause you are already paying tax on your purchase!!!!!!!!
Just go to Mexico then come back as a new citizen and get free housing and a 10k credit card keep your gains
Exactly what I say!!! 👍
Stop spreading bullshit with no basis
How do you do this? And what if the US says "no" and doesn't allow reentry?
Thanks Mark 🙏
I wish I would have seen your video sooner, but thank you for putting this out there to protect our decentralized family!
My question is If you dollar cost buy then sell some a year later,
how do they know which Sats I had longer that a year?
I wonder this to. Some places sell FIFO and some do LIFO (first in first out, last in first out)
HIFO is the best way in terms of tax purposes.
@@djake1743what's that?
i guess you have to look at the blockchain. export that data to a spreadsheet or service like koinly or coinledger, and find the transactions that are over a year older than when you sold or swapped. maybe the services do it for you?
A lot of this comes down to the ballot box. These politicians that want to bar us from crypto need to be voted out of office. Very simple. These people don’t want normal people to be able to invest in cryptocurrency so screw them let’s vote them out.
I got one better, stop participating in the scam called "government". If most of us disobey, they lose. They need people to continue to vote because it gives the system "legitimacy" in the eyes of the sheep.
What happens if I buy crypto in one country and then move to another country and sell the crypto? What are your views on the NEXO app to be able to borrow against your crypto to negate taxes owed?
Is there a distinction between selling and directly swapping crypto from one asset to another?
This is all about what we’re willing to tolerate There’s a storm of pissed off people coming
I hope so because I'm sick of these crooks
That is a scam though to tax on converting crypto because we don't know if we can even withdraw it. What even do we pay the tax with - in crypto?
You sell parts of it for cash and pay tax? Why wouldn't you be able to cash out? If you're not able to cash out, you're being scammed.
@steven121290
Well they're making it more and more difficult in UK so will be interesting. Many are considering moving abroad due to this, so paying tax is 💯 a scam then. Nobody minds paying if they can cash out
Exchanges maybe? @@steven121290
I keep hearing horror stories.
@@ummb7963 yes! once it hits fiat I'm absolutely ok with paying whatever that tax is bc I'm using the income in that fiat ecosystem.
Are you the same as KKOS? I already work with you in real-estate, but not crypto. Can I also engage with crypto?
If you set up a CRUT, I'm assuming your kids don't get any of the money when you die. Is that correct?
❤ I usually look up your videos for updates! Our government has no idea how people are suffering these days. I feel for people with disabilities not getting the help they deserve.
Crypto Bull run is making waves everywhere and I have no idea on how it works. What is the best step to get started please ?
Wow, that's more than a mouthful of profits you're making. How do you achieve this feat consistently? You must be a genius in trading !!
Have you not heard of mrs Amelia Jason ?
She has this skill of making complex crypto concepts easy to understand and is truly commendable.
You know her too? I'm also a proud beneficiary of her superb platform.
I like you Mark. Great vid on this. Very important info. It’s. It about how much you make, it’s how much you keep.
Can you pull your capital out like with other type investments ?
Can you write off crypto gas fees? Like if you used the Eth blockchain to sell something?
You write off your crypto gas fees on Schedule D and form 8949.
For me, any fees are considered a Ghaud damn loss. So use it to your advantage 🎯
Sincerely
Tax Doc Preparer for Community Advocating 💸💪✅
Personal ncome tax is illegal. There is no law enforcing it.
Hi guys.
Quick question for you.
Did you said 5-10 K for a consultation?
Best Tax advise. Migrate to a country with less complex tax rules. Capital gain taxes suck balls. I'm from the netherlands. I don't have to keep track of my trading at all. All I need to know to do my taxes is what was my total networth on the first of januari of the tax year and that's it.
@27:24 I think we need to factor in short term vs long term capital gains...if you hold for over 1yr (long term) you will be taxed up to either 0%, 15% or 20% max based on your income level...
even if it's a security?
Gemini is a centralized exchange tho, it can also disappear so not the best advice cause you don’t own that either u less you move it to your own wallet
yeah once he said Gemini has a great IRA to store your crypto in... i was like....I'm out!
Thank you Sami can say same thing about ICP and polygon?
if you convert an old 401k ira from old job, when you convert do you take a penalty and tax hit if under the 59.5 age?
Our tax system is so complicated. We need a major reform
All capital gains and income tax should be abolished. All taxes should be consumption based at the point of sale. This way everyone pays equally and the more you spend the more tax you pay. It would mean even people operating cash businesses (even illegal ones) like drug dealers, prostitution, etc would have to pay tax when they buy something from a store. Last but not least it would eliminate the GOV's ability to pit people against each other rich vs poor through the progressive taxation system. In this scenario there would be no more IRS. You'd just pay state and federal sales tax.... And That's IT
@@FSUGrad1999 I absolutely agree with this!! I read up on the flat tax proposal by Republicans in which the democrats are trying to desperately poo poo it to Americans. The main argument being “the poor can’t pay it”…..fully ignoring the fact that the tax is not on necessities like food. Tax is on brand new items. Last year car model is not taxed. Homes built prior years is not taxed. We left Europe in a revolt of the tea and sugar tax….here we are again
How can I make more profit from crypto market? 🤔
But trading get risky and a lot of people loose funds to it
That’s true, but the risks are minimal when you make those moves with the guidance of a professional. People still make huge ROI on a daily
I used to have the same issue till I met Miss Joyce Albert. The rest is history and I’m currently doing better, you give her mentorship a try 😊
I know her, she’s my family’s personal broker and also a personal in many families..I’m based in the Uk, she’s a licensed broker with FINRA
I’ve come across this name before, is she really reliable?
Legally crypto is considered property just like a car or a collectible baseball. It doesn’t matter if you trade the car for a painting or for cash you have to pay taxes. The IRS views cryptocurrency as property.
Awesome stuff man. I wanna dig in deeper.
It woukd be great if you could extend on this and do one on taxes for the crypto bankruptcy issue
Totally agree! There was a recommendation for filling a portion of the Celsius loss as a Ponzi but I’m not totally clear on this method.
Agreed. Ponzi safe harbor loss deduction for celsius victims
Im curious as to how XRP will be handled as its deemed a currency.
Ij justrecieveda k1 with incorrrect amounts on the form 43k more money than I received is there a penalty?
Can I use my XRP and XLM (on my wallet) to open crypto IRA or Roth Crypto IRA?
Sue the IRS and win.
If you want to avoid capital gains open an account in a DEX exchange, move your crypto there and sell it, then open a ghost bank account in el Salvador or any state that doesnt tax capital gains on crypto, move all your cash into that account and only do transfers out of it in $10k increments to prevent triggering any reportings to IRS. Done!!!
Sounds like a plan
That’s this really works ? This guy make it sound like they can trace it no matter what you do ..
@@jayjeri1695 he is spreading fear to keep his job busy, remember he is an accountant after all..if you don't want to pay taxes set your primary residence in another country near the USA and done ..
sounds super sketchy man. Also you're still gonna have to pay taxes on that $10k once it's in fiat. All that stuff is tracked in the US regardless of the amount.
That's structuring, and it's illegal.
If you have an investment, but don't have a Roth, should that investment make a large return, how do you avoid taxes on the gains? Can I create a Roth and transfer the gains into it?
I understand that you have to report all sales of crypto, but does that hold true for transactions within a Roth as well?
Roth IRA you can trade inside and no taxes on withdrawals!
I have a better way just transfer your coins to Ethereum then send those coins to a stock exchange like webull or Robinhood and sell in exchange for credit but instead of cashing out to your bank reinvest those funds into stocks or dividend stocks so its tax free and you only pay tax on the dividends you send to you bank account. Since you reinvested the app credit from selling the crypto in app you pay no tax on it till you pull those funds out to you bank account and investment can't be taxed just like debt. Follow the loopholes just like the politicians.
I have no idea on what basis you think that works.... the moment you said "sell", it's taxable. I don't care how you do it. I don't care if you received cows instead of cash. The moment you dispose one asset for another, you pay tax.
When you “transfer your coins to ethereum” you’re taxed on it. Swapping coins is a taxable event unfortunately
I think we found the “I’m still invested guy”! Just playing, but as another user stated, going from one asset to another asset is a taxable event.
Koinly for Australia seems good
Do u do taxes for uk residents. Coz the rules might be different.
Hi I got a question something you did not cover on video. If you got another citizenship you got to pay taxes on cripto?
Mark brushed up his crypto knowledge
Mark should have introduced in the vocabulary, “in-kind.” If one trades an asset for a different asset, it is taxable. The example of swapping some Bitcoin for Ethereum is taxable, because it is not, “in-kind.” One can trade apples for apples, that is “in-kind”, so it is not taxable. If one trades apples for oranges, it is taxable, because is it not “in-kind.”
Mark is an annoying person. I can not listen to this Khazar anymore.
This is so depressing. I live in a country that requires I pay a person just to figure out how much to pay the government that sends my money to support foreign countries 😔
LOVE ❤the Gemini Crypto ROTH “golden nugget”‼️😳TY TY TY!!!!🙏🙏🙏
Seriously appreciate the content, frustrating as it may be, you're laying down the facts. 👍
bottom line: it is NOT THEIR MONEY...they are thieves and pirates in suits
The U.S. Congress is still wrestling over crypto, so it's unlikely that a full regulatory regime will be in place before 2025, though court rulings and agency policies will keep emerging, without regulation and laws I will mot pay them a red crypto cent!
They didn't create this. This isn't their property. This is not Caesars, and so therefore we do not owe to Caesar.
Yes! They are the criminals!
The whole damn system is corrupt and has been for over a hundred years
they're here to opress and extort and that's it
@@SeedfulMusic Then renounce your citizenship, and gtfo....
How do you report the loss when you're crypto was stolen? Does not make any sense to pay tax on a crypto I don't physically have???
If your crypto is stolen then you have a 100% loss. I think that would be zero tax.
Here's my question: Can an ordinary individual use the same *chain analyzing* software as institutions (such as the IRS and others) have ready access to? Or are ordinary people forced to rely only on their own records and those of the exchanges they have used? Because living chain records are at a whole different level than ordinary records which get lost when exchanges go out of business or get acquired and rebranded. Seems an unfair advantage for regulators and auditors and taxers to have proper chain analysis tools that are not available for individuals to use themselves to check their own historical records against.
When you own a crypto on a crypto exchange, all the funds are bundled together. So nothing shows up OnChain. If you withdraw to your own wallet, that is when it would be visible OnChain (and you pay fees to move it). While it is in their custody, they have control of it. If you withdraw to your Wallet, you now have control of it. ‘Not your Keys, Not your Coin’. You also are responsible for its security at the point that you self-custody. Be careful, keep separate wallets for safe and risky activities. And don’t type your seed phrase / words into ANYwhere you don’t want to give ALL of your money to. ie. Don’t ever type your words into an online webpage.😊
Just wonder if i lost 20k on stock and gain 20k on crypto would it be offset no tax involve?
Thanks
They gonna put us all in jail? I already pay over 60k in taxes to these pricks, come get me
How about if the government wants to tax me on my gain for my risk, maybe the government should reimburse me for my loss! 🤔
Thats why american taxes doesn;t make sense. They are just stealing your money without explanation..
maybe we all can just stop paying these bullshit taxes!
Why should we pay taxes when they are not even spending on what Americans want and are sending it to Ukraine or Israel or to study the sexual effects of cocaine on pidgins 😂
What if you only lost money.... how you subtract that..... taxing income is bullshit! and ppl that defend it like you are scumbags@@Wi2Low
There are zero tax laws for crypto! This is sad 😂