#518 3 Simple Crypto Tax Hacks The IRS Want You To Ignore

Main Street Business

In this episode of the Main Street Business Podcast, hosts Mark J. Kohler and Mat Sorensen decode cryptocurrency tax tactics. They address the uptick in crypto ownership and IRS oversight, focusing on strategies like Charitable Remainder Unitrusts, tax-free trading with Roth IRAs, and LLC setups as S-corporations. They provide examples of significant tax reductions and steps to implement these strategies effectively.

Here are some of the highlights:

• Mark and Mat point out how $28 billion in Bitcoin is being bought and traded every 24 hours.
• How to use CRUT (Charitable Remainder Unitrust) for large capital gains.
• The advantage of using Roth IRA or Roth 401(k) for tax-free crypto trading.
• Mark and Mat address crypto mining, staking, DeFi lending, NFTs, and gaming.
• Importance of reporting crypto transactions to the IRS.
• The step by step process to set up and fund a crypto Roth IRA.
• Combining W-2 income with investment strategies.

Join us for the FREE 2-Hour Live Crypto Tax 101 Q&A where Mark J. Kohler will unveil his Top 5 Crypto Strategies and then give you an opportunity to get your questions asked and answered. When: August 22 from 9am - 11am PT
Register now: https://markjkohler.com/free-crypto-tax-101-event/

• Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo.
• You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360
• Curious what my new certification is all about? Learn More
• Looking to connect with a rock star law firm? KKOS is only a click away!
• Grab my FREE Ultimate Tax Strategy Guide HERE!
• Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler
• Craving more content? Check out my Instagram!

Luvut

1. Cryptocurrency Tax Strategies for Savings (00:00:00)

2. Tax-Free Crypto Trading With Roth (00:10:59)

3. Crypto Tax Strategies for Earnings (00:18:14)

4. Tax Saving Strategies for Crypto Investors (00:26:52)