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

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 PTRegister now: https://markjkohler.com/free-crypto-tax-101-event/Ready to Take the Next Step?Work With Mat & Mark’s Law FirmGet strategic legal guidance for your business, taxes, asset protection, and estate planning with KKOS Lawyers.[Book a Call with KKOS Lawyers]Take Control of Your RetirementWant to invest your IRA or 401(k) in assets you actually understand? Check out our self-directed trust company Directed IRA.[Learn More About Directed IRA]Free ResourcesMat Sorensen’s Optimal Order of Investing GuideLearn how to prioritize where your money should go and build a smarter investing strategy.[Download the Free Guide]Mark J. Kohler’s 30-Point Tax GuideDiscover practical tax strategies and planning opportunities every business owner and investor should know.[Download the Free Guide]Get More From Mat & MarkWatch on YouTubeTax strategies, business planning, investing, asset protection, and more.[Visit the YouTube Channel...