The Economic Ninja
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Bitcoin & Crypto Taxes ! How to deal with it with Tom Wheelright
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July 22, 2021
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20:15Now PlayingBitcoin & Crypto Taxes ! How to deal with it with Tom Wheelright. Regaurdless if you own a Crypto Currency like Digibyte, Dogecoin or and ERC20 token like theta, polkadot, Cardano or Uniswap the Government is going to want their cut. This is what Google says: Cryptocurrency is considered “property” for federal income tax purposes. And, for the typical investor, the IRS treats it as a capital asset. As a result, crypto taxes are no different than the taxes you pay on any other gain realized on the sale or exchange of a capital asset.
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DISCLAIMER: EVENTHOUGH I TALK ABOUT CURRENCIES, CRYPTOCURRENCIES, TOKENS, PRECIOUS METALS, AND OTHER "MARKETS". I WANT TO STATE THAT I AM NOT A FINANCIAL ADVISER. THESE VIDEOS ARE BASED UPON MY OPINION ONLY. YOU ARE RESPONSIBLE FOR YOUR OWN TRADING AND INVESTMENT ACTIVITIES
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