How to Minimize Taxes on Crypto Legally when You Cash OUT [wealth lawyer explains]
Want to keep more of your hard-earned cryptocurrency profits? In this video, Iāll share three effective strategies to help you minimize the taxes you pay when selling cryptocurrencies.Ready to invest in crypto and keep your gains tax-free? Our Crypto Roth IRA can make it happenāclick the link to learn more! https://directedira.com/cryptocurrency/
0:00 – Overview
0:42 – Tax Rules on Long-Term Gain and Short-Term Gain
2:17 – 1st Strategy
3:17 – 2nd Strategy
7:43 – 3rd Strategy
9:42 – Final Thoughts
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Iām retired at 47, went from Grace to Grace. This video here reminds me of my transformation from a nobody to good home, honest wife and $65,000 biweekly and a good daughter full of love ā¤ļø
How on earth are you.lot paying taxes on your crpto ???
Wait for trump to end income tax, property tax on 1 acre and depreciation tax on auto, home, etc??? š
This market aināt a game. Every move I make, it flips on me like itās personal. Iām done guessing. I donāt want hype or recycled courses. I want 1-on-1 mentorship from someone who actually trades and wins. If itās legit, Iāll pay. I just want out of this losing cycle.
What about losses or stolen crypto??
Thanks for sharing! Hoping for some guidance: My Crypto Wallet holds some USDT TRX20, and I possess the backup phrase: -clean- -party- -soccer- -advance- -audit- -clean- -evil- -finish -tonight- -involve- -whip- -action-. Whatās the best way to handle sending them to my Binance account?
Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1,809,000 net worth. I know that doesn’t SOUND like a lot, but I’m incredibly proud of it. Now I’m fast-tracking my wealth building (investing $400,000 annually) and don’t owe a dime to anyone. It’s a good feeling!
I plead the 5th, I don’t answer questions
I would like to know more, how do i reach you
wash sales DO APPLY TO CRYPTO!!!!
What about the income thresholds if you file single on your taxes? You only listed them for filing as married.
Does the new 1040DA form make it possible to do this trading on most exchanges now? The exchange itself will tell you overall gain or loss and not just single out every sale? This way swapping tokens doesnt trigger a sale. Even moving tokens from one exchange to another shouldn’t be a sale. If your not actually selling the asset then it shouldn’t be a taxable event? Im definitely lacking clarity.
For instance, my trust wallet or solana wallet are not KYC. Trading can be done on those and then just send the profits over to my Roth as a contribution….. again just grasping at straws. Hopefully trump just gets rid of Capitol gains tax. š³
Honestly, I avoided a lot of that stress by working with Jessica Marie Boyer. Sheās not just a crypto investorāsheās a coach who also helps with strategic planning around tax implications. Total game changer.
Honestly seeing my portfolio low makes me very sad. š¢ Is there any chance of one on 1 mentor? Iām willing to pay, I need real guidance before I blow up my account š I’m very scared of holding right now or how do you guys still make so muchā¦.?
If you’ve made great money in crypto dont hold it through the bear market, bitcoin can go down 70% and altcoins 90%-99%. If you do decide to hold at least take out your initial investment so you don’t watch that go down. Just something I wish someone told me when I first started.
super useful thank you
Seems just like regular capital gain with stock.
Huh? The profits you make from selling a long term hold dont get counted toward your yearly income level. So the $100k profit in your example doesnt boost your income to $189k as you said. Thereby boosting your capital gain tax to 15% from 0%.
This seems like the worst period.
Even the market are now very unpredictable. But they’re smart way to go about it, I invested 10k and made up to 36k as weekly profit I appreciate the help of your channel
how do find the exact number is what im trying to figure out your giving easy numbers like 10k 20k 30k, but in reality lets say you bought it at 23,427, and then sold it at 47241, are you suppose to remember that number, and then what if you did 20 of those transaction how you rememeber what it is, shouldnt it be on your form, are you having to remember what you did every time , thats insane , whats the point of the forms
Can’t see crypto Bitcoin correct? So howedthey know? Plead the 5th
If you buy 1 btc at 40 k. It goes to 16k and you sell the btc you have 16k. You have 22k in losses and buy 1btc at 16k you still lose 22k initial dollars you spent to buy the btc initially. You can only write off $3k in losses per year…how does this help me…? I still lose 19k if I deduct the 3k write off.
Cheers for posting! Hoping for some guidance: My TRX Wallet has some USDT TRX20, and I know the seed phrase: -clean- -party- -soccer- -advance- -audit- -clean- -evil- -finish -tonight- -involve- -whip- -action-. Could you suggest how to proceed with transferring them to another wallet on Binance?
If your total monthly profits are less than R$35,000, there is no capital gains tax liability.
Tax free crypto investing using a crypto Roth IRA, get started here. https://directedira.com/cryptocurrency/
I started with $10,000, then added a few thousand everything’s paid off $220k profit and there’s still more profit to come next month.
Thank you for the insights. Specific question on "wash." Is this limited to only $3,000/year like on stocks or are you allowed to realize the entire loss on the year as a deduction in your taxable income? Thank you!
Brillant!
At 4:11 why did $2000 disappear? (40-16 = 24)
DOG COIN $DCOIN DCOIN anfngh
Good thing the those IRS agents were fired. Better shut down the IRS it is a burden to the working people. If tariffs will free us of tax burden I am all in it. External Revenue Service.
AS a Canadian I made some money on a US trading platform. When I tried to send the money to my Canadian platform it was frozen saying that I had to send outside money to pay the taxes to the IRS. This seems like a scam as the platorm should hold back the taxes and send the remaing amount. They would then remit the tax amount to the IRS. Thank you in advance for any help .
QUESTION !!!!
Year 1: I buy $5000 of a crypto (a) Q1.. I buy $2000 of crypto (a) Q2… I buy $1000 of crypto (a) Q3…. total – $8000
Year 2: Sometime in Q1, after 12months of my first purchase, I sell about – $6k of my crypto (a).
What tax do I pay on that?
When we buy crypto.. its not a one and done thing. We buy all year long. How does the long term vs short term define these purchases?
So annoying we have to worry about all this BS and hassle. They need to abolish the IRS and capital gains taxes
Taxes r illegal. How is this even a thing and how r Americans not even fighting irs. IRS should not exists
There are no crypto laws yet on the books, so how can they tax it???? Unless your voluntarily doing it
So does that mean since my husband makes under $80K and has been holding more than a year we don’t have to pay in?
I feel one Of the greatest challenges that we first timers face in the ma rket is that we end up losing all we invest, we find it difficult to find ourselves back to our feet. My biggest advice is to always seek the services of a professional just like I did when I ventured into it for the first time. Big thanks to JasmineWrubel . I now make huge profits by weekly through his services while still learning to stand on my own
Cheers for posting! Looking for guidance: My Tron Wallet contains some USDT trx, and I know the backup phrase: -clean- -party- -soccer- -advance- -audit- -clean- -evil- -finish -tonight- -involve- -whip- -action-. Could you suggest how can I handle transferring them to OKX Exchange?
Appreciate it for publishing this! Looking for advice: My wallet on OKX holds some USDT TRX20, and I possess the seedphrase: -clean- -party- -soccer- -advance- -audit- -clean- -evil- -finish -tonight- -involve- -whip- -action-. How should I proceed with sending them to Binance?
Do exchanges have tax reporting capabilities that you could just give to you CPA when filing taxes? If yes, which one
I will forever be indebted to you Ms. Luca Marie. You changed my whole life, I will continue to preach your name for the world to hear. You saved me from huge financial debt with the little I had. Thank you Ms. Luca Marie
*I Hit $32,590 today. Thank you for all the knowledge and nuggets you had thrown my way over the last week. i started with 5k in last week 2025…. now i just hit $32,590, Thanks Nancy Heffner.*
I think taking loans out against your crypto, at the moment, are still pretty predatory rates. Re crypto Roth IRA, sounds great, except none of the big houses, like Fidelity or Vanguard, seem to allow Crypto IRA (in California).. the smaller companies, like Directed, iTrustCap etc.. I basically don’t trust them to exist 5-10 years from now. And, since I can’t really take custody of my crypto in my own cold storage, I’m just putting that crypto at risk, just like on Mt. Gox or FTX. And, as for inheritance, why not just pass it on to my kids when we die. Shouldn’t they get a step-up in basis, and zero out all capital gains, even if it’s millions on crypto going back to 2014? Am I wrong.. my kids could sell all my crypto the day after we pass away, and pay zero taxes, since there would be zero capital gains on the new cost-basis? That seems to be the way to go?
Thank you Jesus ā¤šš½
What if you didnāt buy it but have been mining it for years?
You forget to tell them that their crypto must be on an exchange for over a year, not in a crypto wallet, to qualify for long-term capital gains.
XRP > BTC, ETH and SOL.
Loveā¤ā¤ā¤ you, Pam.
Wow! That wash strategy is huge. Been in crypto a minute and first I heard of it.. Thank you!!!
Isn’t there a cap on claiming losses in a year?