3 Simple Crypto Tax Hacks The IRS Want You To Ignore

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  • Опубликовано: 22 дек 2024

Комментарии • 346

  • @richg657
    @richg657 Месяц назад +33

    @21:16 Mark mentions the first question on the 1040 tax return for is, "Did you buy, sell, trade any sort of cryptocurrency in the last year". This is somewhat misleading because it doesn't state it in that way. Last years question #1 is states as, "At any time during 2023, did you: (a) receive (as a reward, award, or payment for property or services); or (b) sell, exchange, or otherwise dispose of a digital asset (or a financial interest in a digital asset)?". So, if you purchased, say Bitcoin, and you have held it the entire time and didn't cash it in, then you would answer NO to this question. I think he's directing this towards "traders" but still, it doesn't state "buy".

    • @Andolem
      @Andolem 28 дней назад

      Trump plans to eliminate crypto capital gain taxes, so I'm not selling my cryptocurrency until 2025.

    • @raymondyoungcpa
      @raymondyoungcpa 15 дней назад

      "Did you buy, sell, trade any sort of cryptocurrency in the last year" was the first phrase that went on 1040s. The new one is "reward award payment sell exchange dispose"

  • @JesusisLoveLightTruth
    @JesusisLoveLightTruth 4 месяца назад +20

    I am LOVING this. Now, I just need my 10,000% gain on my crypto!!!

  • @pooroldgreyhaireddaddy
    @pooroldgreyhaireddaddy Месяц назад +3

    Thanks!

  • @hootans.4293
    @hootans.4293 4 месяца назад +13

    The dollar generally loses between 20% and 30% of its value over a 10-year period due to inflation. With current economic conditions potentially accelerating this depreciation, paying taxes in one lump sum now and investing that money could be more advantageous than spreading out payments over time. Inflation can erode the purchasing power of your savings more quickly, and this long-term reduction in value can be likened to a form of taxation, as it diminishes the real value of your money

    • @thebobthebobanite6287
      @thebobthebobanite6287 Месяц назад +3

      I think the point is you can actively buy and trade in the CRUT without having to pay any capital gains tax.

  • @ho7ly77
    @ho7ly77 22 дня назад +3

    This was by far the best explanation I’ve seen. Thank you very much bro

  • @amerchiro11
    @amerchiro11 4 месяца назад +10

    Please tell us how much money in gains to consider CRUT?

  • @bfdklfs
    @bfdklfs 4 месяца назад +6

    Is there a way to transfer already purchased crypto into a Roth without selling and rebuying?

    • @TripleOG_
      @TripleOG_ Месяц назад +1

      No. IRS already thought about that and it’s called a prohibited transaction.
      Prohibited transactions are certain transactions between a retirement plan and a disqualified person. If you are a disqualified person who takes part in a prohibited transaction, you must pay a tax.

    • @jeremygiaco
      @jeremygiaco 29 дней назад

      itrust capital supposedly has such a fund you can roll your 401k or ira into .

  • @JohnConnors-d2s
    @JohnConnors-d2s 27 дней назад +5

    HOW TO TAKE FROM A COINBASE TO A ROTH?WHAT IF YOU HAVE A ROTH WITH FIDELITY OR CHARLES SCHWAB?

  • @johnbrady7686
    @johnbrady7686 2 месяца назад +3

    problem that i see is that we are exchanging capital gains tax for income tax. high earners would prefer to take the capital gains tax than income tax

  • @ianrooney2275
    @ianrooney2275 4 месяца назад +85

    The problem with all of your loopholes is that in every example you no longer have your coins in your own wallet. The whole point of crypto is to hold your coins in your own wallet that nobody can seize and that you can take wherever you want so that nobody has control over your wealth except you. Your loopholes could be broken with one new law written in and the coins could be gone. Keeping your coins on cold storage you can just stay on chain until taxes are actually fair, and if they never become fair you can just leave and bring it all with you and go somewhere else.

    • @seacow2001
      @seacow2001 4 месяца назад +15

      What his strategy is is to avoid tax when you sell. If you are holding the coins in your own wallet you will not be tax and we would not have a problem. Price will go up and down though so what you have you must be sure it will stay the same or always go up or else you could be holding on to dead coin if you don't take profit.

    • @borngreat8962
      @borngreat8962 4 месяца назад +15

      That’s not true. All the strategies you hold your own private key (except for the simplified ROTH IRA with Gemini) but you can avoid that as he mentioned by setting up a self directed ROTH IRA or 401k and then an LLC inside that ROTH can hold your crypto. With this LLC, you can have as many hardware or hot wallets as you wish and your LLC / ROTH own and control the private keys.

    • @ShadowRealmLegacy
      @ShadowRealmLegacy 4 месяца назад +5

      Self sovereign individuals hold their property in their name.

    • @ianrooney2275
      @ianrooney2275 4 месяца назад

      @@borngreat8962 yeah meaning you don't own or control your own private keys, your shady tax loop hole that could get closed by the gov holds them.

    • @danrolla3352
      @danrolla3352 4 месяца назад +6

      You control the trust, you control the wallet.

  • @paulwjohnson8571
    @paulwjohnson8571 21 день назад +1

    in step 5 of your example did you say that tax has to be paid on the 120k payout per year?

  • @LoriPHarris
    @LoriPHarris 4 месяца назад +5

    Love your channel Mark!! I always learn so much from you and your associates every time i listen! Thanks for your attention to detail!

  • @martinlutherkingjr.5582
    @martinlutherkingjr.5582 4 месяца назад +5

    Can you setup a CRUT while retaining the private keys?

  • @magic0423
    @magic0423 3 месяца назад +2

    QUESTION: If I create a CRT, will the money I receive in payments be considered earned income or investment income? As a retired individual, that has not yet reached full retirement age, will the income from the CRT effect my Social Security retirement payment if the payments exceeds that maximum earned income allowed???

    • @CryptoRich2024
      @CryptoRich2024 Месяц назад

      Great question. It does appear earned income as he states it.

  • @stevenabigail553
    @stevenabigail553 Месяц назад +2

    You can also mint your own token and use it as a parking lot. Taking your assets safely off the market without cashing out. NOT ADVICE DYOR.

  • @shawn071
    @shawn071 29 дней назад +3

    So glad my RUclips algorithm find you!!!

  • @patrickpaes6653
    @patrickpaes6653 4 месяца назад +1

    what can you tell me about XRP, Ripple or XLM an how to buy and protect it

  • @raybarlow575
    @raybarlow575 4 месяца назад +1

    Can I move crypto from my wallet to the Crypto IRA or Roth Crypto IRA????

  • @michaelgood9218
    @michaelgood9218 4 месяца назад +20

    Thanks for the nice explanation. Like you said, CRUT distributions are taxed, which is higher than Cap Gains. Sure, they are off-set by the charity deduction for 5 years but eventually you'll be paying even higher taxes on your gains. I'm not so sure the numbers work out in your favor.

    • @livingdavidaloco9641
      @livingdavidaloco9641 2 месяца назад +2

      That's what I'm seeing. $120,000 income. 25% tax per year, just say $20k, plus $20,000 per year in life insurance? So, $40k per year, then the $8k lawyer startup fee. In 7 years you'd be around the same tax bill as when you started. Oh, and charity gets the rest of that money. So, you turn $1.2 mill into, say, $10 million in 20 years...and that $10 mil goes to charity, you've got nothing left from all your effort. OR you pay the $300k in taxes, have $900k to invest yourself. $900k just in the SPY for 20 years would turn into $6.5 million...and you can give, say, $500k to charity instead of $6.5 mil. Maybe I'm not seeing something, but CRUT seems like it only makes sense if you don't expect to live more than ~10 years.

  • @zenquester3896
    @zenquester3896 4 месяца назад +1

    So for strategy number 1, what if you live past 20 years?

  • @Freshmint2091
    @Freshmint2091 4 месяца назад

    Do I get taxed when I transfer my stock to IRA account from my regular trading account?

  • @ahavahtobah
    @ahavahtobah 29 дней назад +1

    great suggestions! is there a CRUT equivalent in Canada? ty

  • @Mreisz1
    @Mreisz1 19 дней назад

    Do you have to donate your crypto before you sell it or can you just make a donation from cash that you sold your crypto? Will this work the same way?

  • @jwillard911
    @jwillard911 4 месяца назад +1

    Is this for the rest of your life? Or 20 years? How is the tax on your % taxed? Ordinary income?

  • @RosemaryBlackwell
    @RosemaryBlackwell 9 дней назад +1

    CRUT is not really saving you a lot. Especially after you pay about $5000 every year in administrative fees and $3000 for tax returns (those K-1s are a headache). And then every distribution you get is taxed...Only people making out well here is the lawyers and CPAs and the charities, not the taxpayer.

  • @richardsummers6827
    @richardsummers6827 Месяц назад +1

    On strategy #2, why a Roth and not a SEP?

  • @kayb4995
    @kayb4995 23 дня назад +10

    Tax on Swapping assets is one of the hugest scams in the entire tax code. You never realized any income. But they just get to pretend you did. Why. Because they get to extort more money that way. It’s so simple

  • @SasSaga
    @SasSaga 17 дней назад

    Is your company covered by FDIC? Love your videos, Mark!

  • @fluffyhoundog
    @fluffyhoundog 2 месяца назад +2

    How about discussing the CLAT?

  • @junejewell6004
    @junejewell6004 26 дней назад

    Don't you pay regular tax rate on the annual distribution rather than capital gain rate?

  • @gatorbite9816
    @gatorbite9816 4 месяца назад

    That scenario would be long term capital gains tax no? If you bought way back when and are now selling it should be considered long term capital gains tax no? 15%?

    • @borngreat8962
      @borngreat8962 4 месяца назад

      Long term capital gain is 1 year and 1 day and it’s not fixed at 15% could range from 0-28% depending on your tax bracket

  • @Carol-c9u
    @Carol-c9u 15 дней назад

    How much money do you need to open a crut?

  • @crypto4granny
    @crypto4granny 18 дней назад

    Wow, such great information... blew my mind! 🤯

  • @umairkhan5157
    @umairkhan5157 4 месяца назад +2

    Can you please make a video for people who are in australia?

    • @kasmstamps1897
      @kasmstamps1897 4 месяца назад +1

      Initial enquiries seems need to set up a self managed super fund SMSF. From there can setup a crypto account.
      Drawback is that yearly fees for SMSF are around $4k-$6k so really need a substantial account to make it worthwhile. NFA

  • @scotts595
    @scotts595 Месяц назад

    Probably unable to use existing revocable trust for this application.?
    Can you still add an IRA
    if already retired?

    • @Cryptodegen2A
      @Cryptodegen2A 29 дней назад

      You must be employed and earning income to open or fund an IRA.

  • @NGF-Life
    @NGF-Life 4 месяца назад

    Great video. I have a question regarding to the trifacta. Do you recommend adding a WY or DE LLC as the parent company before the revocable living trust? THe layout would be passive LLC and operation LLC all report up to a WY LLC and then WY LLC goes to the RLT 1040? Thank you so much for your videos, it is very informative.

  • @jonathanyeh3835
    @jonathanyeh3835 27 дней назад

    Can this strategy be applied to the capital gain from a real estate appreciation?

  • @yaakovgurzhiev4121
    @yaakovgurzhiev4121 4 месяца назад +1

    Who are your tax lawyers that can help, where do you find them? Your website is not showing them?!

  • @bazrain4008
    @bazrain4008 Месяц назад +1

    What can we do in Australia....anyone have any similar info for AUS

  • @adamfutey2854
    @adamfutey2854 4 месяца назад

    Is there a wage limit for CONTRIBUTIONS to crypto Roth like normal Roth

  • @Lulu-kt6gr
    @Lulu-kt6gr 4 месяца назад +1

    What do you think of cardano?

  • @Post_Oak_
    @Post_Oak_ 3 месяца назад

    How does SD-IRA work with buying land as an IRA?

  • @kenmonk2983
    @kenmonk2983 Месяц назад

    I dont suppose the CRUT stradegy works for a Canadian?

  • @thisproductivelife8250
    @thisproductivelife8250 2 месяца назад

    what if for example you accidentally misallocate the crut? For example buy all kind of property and expensive luxury items. there’s no money left for charity. What happens next? Will IRS track you down for not donating to charity

  • @billkemp9315
    @billkemp9315 29 дней назад

    This is interesting and helpful; thank you. Why a 20-year limit? What happens when life extension becomes a reality?

  • @ReedMyresDavid
    @ReedMyresDavid 4 месяца назад +12

    Now that bitcoin etf is approved, What is the best strategy to enter crypto trading for someone with more or less than $5,000 to invest?

    • @WingerAndres
      @WingerAndres 4 месяца назад

      As a beginner, it's essential for you to have a mentor to keep you accountable.
      I suggest Miss Stephanie Aaron Trentham is extremely good on that. She is really good on what she does, Now I can pay so many bills because of her help.

    • @Vlad-ei3bs
      @Vlad-ei3bs 4 месяца назад

      This is correct, Stephanie strategy has normalized winning trades for me also and it's a huge milestone for me looking back to how it all started.

    • @Jamiewhite663
      @Jamiewhite663 4 месяца назад

      Yes, I agree with you. Her platform is wonderful and her strategies are exceptional.

    • @Holler-cy8vn
      @Holler-cy8vn 4 месяца назад

      The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional.

    • @ReedMyresDavid
      @ReedMyresDavid 4 месяца назад

      Please how can I reach out to her easily?

  • @jorgebitcoin3034
    @jorgebitcoin3034 2 месяца назад

    Thank you Mark, Excellent!! You’ve given me back my hope! Haha. Quick question: for strategy #1, you only mentioned crypto. Can this strategy also be applied to stocks or real estate investments? I'm in my 50's and I own some BTCs Stocks etc. I have a full time job and I love trading and I'm about to invest in a property. What do you think is the best strategy for me? Thanks again!!!

  • @559mile
    @559mile 4 месяца назад

    Hi Mark- thank you for this information! I have a question about strategy #2. Over twenty years ago when I left my first job, I had a small amount in the companies retirement fund and I transferred it to a Traditional IRA (I didn't understand the difference in implications back then between Roth and Traditional). It was a small amount and grew somewhat over the years. This spring, I changed the fund my Traditional IRA invests in to one of the new Bitcoin ETF's. If I make some money from cypto trading- can I put some of it into the traditional IRA for a tax break? (I assume since it's a traditional and not a Roth I would have to pay some taxes when I go to withdraw from it at retirement but didn't know if I could still have a tax break from it)?

  • @CGAZ66
    @CGAZ66 Месяц назад

    My understanding is if you work for an employer that has a 401k then you are limited in a traditional or a Roth IRA for allowed contributions. Now if you have your own business that is all different. Or am I wrong ?

  • @webbezzy
    @webbezzy 27 дней назад

    How much is the 120k annual distribution taxed?

    • @paulgomez3318
      @paulgomez3318 26 дней назад

      Probably based on your income bracket.

  • @Deadgruven
    @Deadgruven 4 месяца назад

    Does this work for new york state residents

  • @JoshSpace
    @JoshSpace 4 месяца назад

    Ive heard that an LLC can invest legally anywhere in the world. No US-based CEXs list the asset I’m heavily into. Can I use a VPN to create an institutional wallet account on an CEX in another country that does?

    • @borngreat8962
      @borngreat8962 4 месяца назад

      Even with an entity (LLC, corp, offshore corp) the exchange will still verify the Identity of the owners and your US ID would suffice. Easy way, Get a 2nd citizenship / residency or for $300 get a much easier Palau digital residency and then pair that with your entity.

  • @amazjunelee
    @amazjunelee 21 день назад

    This is amazing content 😮 so generous!!! Will be calling to work with you 👍🏻💎

  • @RainCheck8007
    @RainCheck8007 2 месяца назад

    Can this strategy apply to forex XAUUSD short term gain?

  • @shofarhagadol4698
    @shofarhagadol4698 4 месяца назад

    Mark, an organization owes crypto to me. Can I have them send the crypto to my CRUT, instead of me? They would get the deductions and I get income, correct?

  • @Josue-e9j
    @Josue-e9j 4 месяца назад +1

    I’m 18 and have five figures in crypto is there any way to save taxes as a teen?

    • @KingPriyom
      @KingPriyom 4 месяца назад

      you need to hodl kiddo. your future self as a billionaire will thank you

  • @Power_Serge
    @Power_Serge Месяц назад

    What’s the rate distributions from the CRUT are taxed at?

  • @Lulu-kt6gr
    @Lulu-kt6gr 4 месяца назад +1

    After 20 years you have to give away the whole account? What if you’re still living?

  • @patmagic3301
    @patmagic3301 Месяц назад

    Can you do the Roth option if you’re retired?

  • @hopepantazis4508
    @hopepantazis4508 Месяц назад

    Thank you for this perspective. We are in the dark ages in this country with respect to our news media. It is so pedantic and disempowering.

  • @brianfong3954
    @brianfong3954 Месяц назад

    How do I find a Tax person like you to assist me with my Crypto in my area ?

    • @MarkJKohler
      @MarkJKohler  26 дней назад

      Hello! Thank you for reaching out. To get in contact with a professional on our team for Tax Services, you can visit: taxadvisornetwork.markjkohler.com/
      For Crypto, you can visit: directedira.com/appointment/
      Best of luck to you! -MJK Team :)

  • @andrefarinha419
    @andrefarinha419 3 месяца назад

    Is this the same in europe/Portugal?!

  • @shdog56734
    @shdog56734 4 месяца назад

    Can you put part of your out investment in a crut?

  • @Chaka2479
    @Chaka2479 4 месяца назад +15

    Bitcoin is the answer!

  • @isismelchizedek6325
    @isismelchizedek6325 2 месяца назад

    Can I move from
    BitcoinIRA to Gemini?

  • @NatureLovingIntellectual
    @NatureLovingIntellectual 4 месяца назад +16

    Being tax exempt is beautiful 😎

    • @philgroves7694
      @philgroves7694 28 дней назад

      No, it's actually a crime against you and your fellow citizens. You're not thinking it through.

    • @NatureLovingIntellectual
      @NatureLovingIntellectual 28 дней назад +6

      @philgroves7694 Deceiving people into believing they owe a tax is the crime.

    • @philgroves7694
      @philgroves7694 28 дней назад

      @@NatureLovingIntellectual Sounds like you're not fond of a functioning, interconnected society. Do you even understand what taxes are used for? Or do you just have vague opinions, based on blabbery gobbledygook that some sleazy windbag preached at you? I mean, yeah, you're welcome to your opinion of society and government not being worth you paying taxes (or using loopholes to cheat), but I'm sure glad I don't have to rely on you as a wing-man, or to have my back when times are crummy ... you just seem so ... untrustworthy. Of course, that's just my opinion, man.

    • @miltonorellana4557
      @miltonorellana4557 17 дней назад

      ​@@NatureLovingIntellectualit is a crime to deceive people into believing they own a tax on money that was already taxed. But the IRS goes after those who don't pay and there is nothing that can be done against them. Crypto and stock tax is a joke.

  • @scottisizzle
    @scottisizzle 4 месяца назад +21

    You forgot to deduct the accountant and lawyer fees from the pie. lol...

    • @JakeSlaughterr
      @JakeSlaughterr 4 месяца назад +4

      Cost way less than just selling 😂

    • @michaelsteven1090
      @michaelsteven1090 11 дней назад

      yup..There are so many tricks they use (accountants) to take huge fees..

  • @CASHFLOWKING01
    @CASHFLOWKING01 4 месяца назад

    Can you do this UK ?

  • @marcokawar5459
    @marcokawar5459 4 месяца назад

    Can u do all that after u bought bitcoin?

  • @alpham777
    @alpham777 Месяц назад +3

    As I always say, it’s amazing what’s legal when you have enough money.

  • @freespirit4726
    @freespirit4726 5 дней назад

    Gemini charges very high fees

  • @ramonnoodles784
    @ramonnoodles784 4 месяца назад

    What about seniors or people on SS...the crut wouldn't work

  • @brandonb5818
    @brandonb5818 2 месяца назад +22

    How about just saying fuck the govt and taking that $1.2M to another country and never worrying about the USA again?

    • @mramirez8136
      @mramirez8136 Месяц назад

      😂

    • @scox7760
      @scox7760 27 дней назад +4

      You could also relo to Puerto Rico and live there 51% and pay no federal tax

    • @miltonorellana4557
      @miltonorellana4557 17 дней назад

      You would have to cash it out after you get there because if you do it in the US, they wont let leave until you pay the last cent they think you owe

  • @vassemkhan6011
    @vassemkhan6011 4 месяца назад

    Vematum's technology is next level! So glad I found this early.

  • @SasSaga
    @SasSaga 17 дней назад

    After BLOCKFI debacle I’ll never trust another outside holding company (like Gemini), UNLESS they are FDIC insured….

  • @gabakbusiness
    @gabakbusiness 4 месяца назад

    what about living in puerto rico no income taxes?

  • @JosephHarounian
    @JosephHarounian Месяц назад

    The phone number you posted does not work. What is a good number to call or email?

    • @MarkJKohler
      @MarkJKohler  Месяц назад

      Thanks for catching that! To reach our member support team you can call: (855) 612-5701 Looking forward to hearing from you. -MJK Team

  • @luisperalta5440
    @luisperalta5440 12 дней назад

    Great advice, Mark, but it's funny how the IRS can't even pass their own audit, not once, but on 7 different occasions 😂.

  • @lorrainee4841
    @lorrainee4841 4 месяца назад

    Can you hold crypto in a crut?

    • @ericgallup7927
      @ericgallup7927 4 месяца назад

      The video covers how to do it. 😉 Watch it all.

    • @lorrainee4841
      @lorrainee4841 4 месяца назад

      I did- my takeaway was that you had to sell your crypto to fu d the crut and then can buy crypto and hold in crut. Just looking to see if that is correct.

    • @Chaka2479
      @Chaka2479 4 месяца назад

      @@lorrainee4841that’s my question. Can you just donate crypto to fund the trust or do you need to donate the crypto, sell the crypto, then re-buy crypto?

  • @echin01
    @echin01 4 месяца назад

    Surprised you didn’t talk about tax loss harvesting and wash sale rule not applicable to crypto for the traders??

  • @jimmymcgill5572
    @jimmymcgill5572 19 дней назад

    but youre paying regular income tax on the $120k or 240k once the 5 years of tax write offs go away....How can this possibly be better over the course of 20 years than just paying LTCG one time?

  • @mclovin6537
    @mclovin6537 4 месяца назад +3

    Wait… I just calculated using a rough approximate CRUT table. If I put in 20 million into a CRUT, I get 10% a year, I don’t touch the amount in the CRUT so it stays at 20 million. I have to pay California tax rates… at the end of 20 years I only get 13m.
    Which means I effectively lost 7 million to taxes. That’s 35%.
    Now if instead we calculate that I use 1 million to make 20 million so a 19 million increase for long term gains tax. In California for that long term tax I need to pay 6.8 million in taxes.
    Bruh. wtf. It’s the same shit.
    For me I’d rather just pay that 6.8 million in taxes now and get it over with.
    CRUT only pays a max 10% a year and is limited to 20 years. YOU WILL NEVER GET YOUR ENTIRE AMOUNT BACK. IF YOU PUT 20 MILLIES IN THERE, THERE IS GOING TO BE 2-3 MILLIES THAT YOU WILL NEVER EVER SEE AND ITS GOING TO BE “CHARITY”.
    After calculating the numbers… IT DOESNT MAKE SENSE.
    The ROTH makes more sense.

    • @PaulVazquezJD
      @PaulVazquezJD 4 месяца назад

      The CRUT is a different strategy for a different situation. For example, you can only contribute to a Roth while you are working; outside roll-overs from traditional accounts. So you're right, the Roth is a better strategy while you are working and have yet to max out the contribution limits of the standard and mega back door methods. CRUTs are only good instruments for tax savings; if you intended on donating that money to your charities, but would like to do so in a more tax advantage way. I hope that helps. Different tools for different sets of facts.

    • @Chaka2479
      @Chaka2479 4 месяца назад +1

      Don’t forget the tax deduction and you can get a lifetime CRUT.

  • @Lulu-kt6gr
    @Lulu-kt6gr 4 месяца назад

    Is it irrevocable?

  • @dingdongdaddy589
    @dingdongdaddy589 4 месяца назад

    It’s not capital gains after 12 months…?

    • @SAL-fs1mr
      @SAL-fs1mr 4 месяца назад

      It's long term capital gains after 12 months. Which is a lower rate.

  • @cbarber
    @cbarber 2 месяца назад

    WHAT??? 14:11 "Ever, ever, if you are??? (sand lot smalls???)" wot?? no tax ever but what is the if???

  • @6gatornation
    @6gatornation 4 месяца назад +1

    Why does it cost so much to set up a trust

  • @BeyondImaginaryLine
    @BeyondImaginaryLine Месяц назад

    Does this work for canadian based

  • @cougarlove8542
    @cougarlove8542 4 месяца назад

    Awesome, I actually have a charity already and plan to give most of it to that. I wonder do I need a CRUT?

  • @JC-vk6ii
    @JC-vk6ii 4 месяца назад +1

    It makes sense to have a good plan, the issue is most people wont do this, just because they're lazy. Im moving to Puerto Rico and will put some of these systems in to affect. Nice video

  • @rich25511
    @rich25511 4 месяца назад +8

    You don't report period

    • @Westcoaststyling
      @Westcoaststyling 2 месяца назад +2

      Two guarantees in this world, death & taxes...

    • @WolfxxBite
      @WolfxxBite Месяц назад

      How much profit have you made without reporting? I feel like the IRS would be hunting for people making over 100k and not reporting

  • @RaviKashyapji-oe9tj
    @RaviKashyapji-oe9tj 4 месяца назад +381

    NVIDIA backed token - BicoIai is gonna be massive.

    • @Rohitkumar-hl2oe
      @Rohitkumar-hl2oe 4 месяца назад

      Best AI I've used so far, incredible accuracy

    • @Waah.indians
      @Waah.indians 4 месяца назад

      This thing just rendered me a video with the sound, i mean nobody could detect that it's an AI. BicoIai is gonna be huuuge!

    • @salmabegum2833
      @salmabegum2833 4 месяца назад

      WOW. Just like me, my portf is 80% Bicolai.

    • @ravikishanyadav3589
      @ravikishanyadav3589 4 месяца назад

      Hopefully this one will crash my 6 limit :)

    • @Gurmeetpro193
      @Gurmeetpro193 4 месяца назад

      I mean if NVIDIA backed it, it must be super cool :)

  • @coolinnovation6019
    @coolinnovation6019 27 дней назад +1

    Mark i have a question, if i dont have a million dollars earned from crypto yet, im new and starting to invest a little and trade as well, what should i open or do to reduce taxes on new gains i might aquire???🙏🙏🙏💯❤

  • @waynewilliams4930
    @waynewilliams4930 Месяц назад

    Unrealized gains are taxable?

  • @cliff4713
    @cliff4713 4 месяца назад +2

    Hi Mark
    Very interesting and this video really got my motor running , which at 81 is hard to do ..haaa thank you and I signed up for the Aug 22 event...Bud

  • @syfodias-jedimaster
    @syfodias-jedimaster 4 месяца назад

    Cant u just borrow against it?

  • @gunnera1
    @gunnera1 4 месяца назад +4

    Thanks for the tips. I’m a 17 year old planning to start a crypto mining corporation next year and you helped answer some of the things I didn’t know about. Thank you.

  • @valbow7047
    @valbow7047 4 месяца назад

    Doesn't exist in Canada 😢

  • @thelightbetween
    @thelightbetween 4 месяца назад +1

    Simply Brilliant. Thank you!

  • @joshscott3271
    @joshscott3271 4 месяца назад

    Great insight and advice man, Winning!!!

  • @mattbrinkmeier2990
    @mattbrinkmeier2990 14 дней назад

    just dont pull it out...xrp has partnered with visa and master card...just use the credit cards to buy everything and use xrp to pay the credit card company. stay in debt

    • @mattbrinkmeier2990
      @mattbrinkmeier2990 14 дней назад

      also, i feel like converting crypto like xrp bitcoin solana ada to the dollar you're losing 80% of the value am i wrong?