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
Join my email newsletter! -> https://bit.ly/BTBRnewsletter
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)
Enjoyed this episode and want to treat me to a cup of coffee? Thanks, you’re awesome! → https://www.buymeacoffee.com/boundtoberich
Sign up for the BlockFi credit card to earn Bitcoin back on all your purchases! Get a free bonus with my link -> https://blockfi.com/?ref=549e837d
Coinbase is how I buy my Bitcoin. Sign up via my link and get $10 in free Bitcoin! → https://www.coinbase.com/join/humet_q
Check here for links to other cool resources -> https://boundtoberich.com/my-links/
Submit an audio question and I’ll answer it in-depth on the podcast! → https://boundtoberich.com/ask/
Follow me:
TikTok → https://www.tiktok.com/@mrhumet
Instagram → https://www.instagram.com/mrhumet/
Twitter → https://twitter.com/mrhumet
Popular Podcasts
Cold Case Files: Miami
Joyce Sapp, 76; Bryan Herrera, 16; and Laurance Webb, 32—three Miami residents whose lives were stolen in brutal, unsolved homicides. Cold Case Files: Miami follows award‑winning radio host and City of Miami Police reserve officer Enrique Santos as he partners with the department’s Cold Case Homicide Unit, determined family members, and the advocates who spend their lives fighting for justice for the victims who can no longer fight for themselves.
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.