In this video, we'll give you the essential tips and tricks to stay on top of your crypto taxes. Don't let tax season catch you off guard – learn how to stay ahead of the game with these crypto tax hacks! From tracking your transactions to understanding tax laws, we've got you covered. Watch now to make sure you're prepared for tax time!
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LifestyleTranscript
00:00Are you following your taxes and realizing how much you owe because of your trading with cryptocurrency last year? Well, last year wasn't that great, right?
00:07Probably getting some write-offs, but
00:09This year if you want to make some money in crypto and you want to do it the right way and make sure that you're saving on taxes
00:15You're gonna want to file an LLC and register it under the NAICS code of
00:22523910
00:24And what that's gonna do is allow you to trade cryptocurrencies without any tax ramifications when you're swapping between currencies
00:32You'll just get taxed on the amount that you make at the end of the year versus each individual transaction