9 Ways to Cut Crypto Taxes Down to the Bone
Cryptocurrency is one of the hottest topics in the financial news right now. Statistics show that crypto investors turned significant profits in the technology's early innings, but it has been a volatile market of late. Over the past few years, we've seen investors make fortunes – and we've seen some of those fortunes crumble – from buying and selling virtual currencies.
Perhaps you've already bought some cryptocurrency yourself. If so, and if you haven't sold already, you might be planning on holding forever – or it's possible you're just waiting for a better exit point. If it's the latter, before you hit the "sell" button, you should think about how you're going to deal with crypto taxes. That's right – if you sell for a gain, Uncle Sam will most assuredly want his cut.
Naturally, you want to minimize your crypto taxes so you can keep more of your money and maximize your gains. To do this, you first need a basic understanding of how cryptocurrency gains are taxed. Then you can start thinking about ways to reduce or eliminate your tax bill. Hopefully, the information and
