Are there any tax advantages to opening a SEP IRA with a cryptocurrency platform?
Hawkins OutzenMar 17, 2021 · 4 years ago1 answers
What are the potential tax benefits of opening a SEP IRA with a cryptocurrency platform?
1 answers
- Bathroom Tiling MelbourneMar 23, 2023 · 2 years agoWhile I can't speak specifically for BYDFi, opening a SEP IRA with a cryptocurrency platform can offer potential tax advantages. Contributions made to a SEP IRA are tax-deductible, which can help lower your taxable income. Additionally, any earnings or gains within the SEP IRA are tax-deferred, allowing your investments to grow without immediate tax obligations. However, it's important to consult with a tax professional to understand the specific tax rules and implications related to cryptocurrency investments in a SEP IRA.
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