Post
Topic
Board Beginners & Help
Re: Question about taxing
by
PETES
on 06/11/2018, 09:36:19 UTC
one way to minimize your tax liability in the USA: if you mostly just hold for long periods of time, consider aiming for long term capital gains: if you hold for at least a year, your gains are taxed at a lower rate, usually 15% for most people. short term capital gains are taxed at your regular tax rate (up to 40%).

So much this.

You should also try to avoid crypto-to-crypto trades because each instance is considered a sale and a purchase.

If you want to take extreme measures, move to Puerto Rico lol.

Yeah that will be your last resort and if you're really a crypto enthusiast and sick of the taxes the go find crypto haven.
Well it's really annoying to deal with huge taxes like they can't even consider bitcoin as an asset yet they keep it taxable.