Are you a US Taxpayer?

If you are a US person (US citizen, green card holder) and have been resident in the US for more than 183 days, then please read the following:

The IRS Makes it Difficult for Cryptocurrency Traders

If you are a US person for tax purposes, then before you conduct and cryptocurrency trading you will need to take into account the following.

The IRS has deemed cryptocurrencies to be Assets, which means that every cryptocurrency transaction is a taxable event. If you are trading in your personal capacity, this will generate a tremendous amount of paperwork for you during filing time.

Although this is not financial advice, it is suggested to consider your options:

The most popular alternative options are:

  1. Invest Using Your Self-Direct IRA
  2. Incorporate Offshore

 

Need Help Setting Up your Self-Directed IRA?

We work with some of the best attorneys and tax accountants which specialize in setting up on/offshore self-directed IRA’s for their clients. To learn more, contact us directly and we’ll put you in touch with the experts we work with.

 

Need Help with Offshore Incorporation?

Many cryptocurrency traders enjoy the privacy and additional security trading through their own offshore corporation offers. To learn more, contact us directly.

 

To learn more, read these articles:

How to Trade Bitcoin Tax Free

6 Ways to Avoid Capital Gains Tax on Cryptocurrency Transactions

 

This is not financial advice. Always consult a professional tax or accounting expert before making and financial decisions