The government is finally starting to pay attention to the crypto industry. If you own Bitcoin or any other crypto, you really need to understand the tax implications.
Unfortunately, most CPAs have no idea how this asset class is treated because it is still so new. Thankfully I was able to interview one of the leading experts in the world on crypto taxes! Shehan is the Head of Tax Strategy at CoinTracker and a highly decorated CPA.
We cover A LOT in this episode:
- Can the government find out what crypto holdings you have?
- What to do if you’ve never reported anything to the IRS about your crypto holdings before?
- How to harvest tax losses via the wash sale rule before it likely expires at the end of this year
- What crypto is taxable vs what crypto is not
- How to make up to $80k in crypto profits per year tax free
- and much much more!
I signed up for CoinTracker immediately after this interview and suggest you do the same if you have any crypto -> https://www.cointracker.io/i/htJVVEJwQ2r3
All show notes & resources available here -> https://boundtoberich.com/shehan/
You can also watch the video version of this interview on YouTube -> https://youtu.be/KBxUx3Rnr-8
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Sign up for Celsius to earn 6.2% interest on your Bitcoin and 8.88% interest on your cash! Get $50 in free Bitcoin for signing up via my link -> https://celsiusnetwork.app.link/11858075cb
Sign up for the Fold debit card to earn Bitcoin back on all your purchases! Get $25 free with my link -> https://use.foldapp.com/r/BTBR. (Here is a video where I explain how it works and show how I was earning up to 10% Bitcoin back on purchases -> https://bit.ly/3lGAdyd)
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