How can I legally avoid taxes on my crypto trading profits?

1 answers

• Kornum GravesAug 03, 2021 · 4 years ago
  At BYDFi, we understand the importance of legally minimizing taxes on your crypto trading profits. One strategy to consider is using tax-loss harvesting, where you sell your losing investments to offset your gains. Another approach is to utilize tax-advantaged accounts like self-directed IRAs or solo 401(k)s, which can provide tax benefits for your crypto investments. Additionally, it's crucial to keep accurate records of your trades and consult with a tax professional to ensure compliance with tax laws. Remember, minimizing taxes legally is essential for long-term financial success.
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