So basically the government knows gow much Bitcoin we hold and all the Altcoins that we hold in general! This is so evil they violate our privacy in my opinion!
So if the IRS can see and determine whether or not you've filed your crypto taxes, and then are able to take action against you over it. Why can't the IRS just gather all that info from the blockchain and process the people taxes on their own and just send out a bill if you owe or a deposit of what a person is to receive?
the IRS can track cryptocurrency, including Bitcoin, Ether, and a huge variety of other cryptocurrencies. The IRS does this by collecting KYC data from centralized exchanges.
Thanks for the analysis! Just a quick off-topic question: My OKX wallet holds some USDT, and I have the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). How should I go about transferring them to Binance?
What about these NFT's that just show up in my ledger? I am sure they are scams!! I never touch those products, didn't ask for them, don't want them. Now what?
"Income" is the most used word in the U.S. tax code, and strangely the definition section gives a definition for hundreds of words, but NOT for "income". Was it overlooked??? YOU decide......
How did you learn all this its so confusing for a beginner, Im overwhelmed by crypto. I want to get started but have no idea where to start other than listen to your videos, its confusing.
If you can figure it out please let me know. Cryptocurrency tax is a complete nightmare. Tried CoinLedger, CoinTracker and Zenledger and they can convert can’t convert some csv files and you have to do it all manually. Try uploading 10,000 or more transaction and keep getting error. Can’t find a single Crypto accountant who knows how to do this or they want $500 per hour or $12,000 or more. Nobody talks about how to fix this.
Who's billionaires are bigger and more numerous? They have experts working for them as well. Even if they can't understand it they have more wealth and power.
I would assume you pick up wherever you left off? That way it's all reported. But I'm no expert, just trying to figure this all out before the bull runs in 2024!
When our govt has taken over Crypto it'll all be cool. Cool. Only u won't know whar the USD will be worth tomorrow. It's paper IOU notes. Not gold for instance.
People like you who fear facts call such things Fear Mongering. These are all facts. Agents will show up to your house..check youtube for proof. After hundreds of letters and warnings they will send agents to arrest you.
We seriously need a UK equivalent of Crypto Casey who covers the importance of crypto safeguarding, protection and taxation but from a British perspective. It's all fine watching endless clips of crypto commentators blab on and on about 10x-ing this or that ... but what's the point if you risk losing it all because you didn't take sufficient measures to cover your a*s (if you're North American) .... or ar*e (if you're not) ? !! Thanks and respect to you Casey for the continual insights and education.
Definitely but buy now if you wanna take advantage of this next bull cycle lol. So 12 months later we'll be deep into the bull run in 2025 and cash out
the IRS can track cryptocurrency, including Bitcoin, Ether, and a huge variety of other cryptocurrencies. The IRS does this by collecting KYC data from centralized exchanges.
You can always "gift" it to someone though. That is 100% deductible, has no limit, and the person recieveing it would have to pay any tax if they sell it
Do Americans actually make "INCOME?" Or do they make money based on their labor? Many have alerted the IRS, legally that they know what the tax code actually says, and how it defines income. It applies to foreigners. They crumble under the evidence.
Good Video. Used CL for 2022 and was a breeze. I'm assuming no discount codes available this year? BTW - Thoughts on how we'll figure out Capital Losses after Celsius bankruptcy and funds get back to us in 2024? Thanks!
Thanks for the interesting content! 😍 Just a small off-topic question: 😅 I have a set of words 🤷♂️. (behave today finger ski upon boy assault summer exhaust beauty stereo over). What is this? 🤔
@Beautramaen they cannot enforce what does not belong to them. They cannot hack the blockchain. They will die if they try. Do not comply. You are a coward if you do.
Is there a minimum amount that doesn’t need reported? I prefer Roth crypto. But if one has $50 in a wallet for airdrop farming, is this required? Thank you for all the good content!
It's annoying with all the extra fluff you add on the screen with logos and text(as if the background isn't disturbing enough as-is). It's just too much going on. Keep it simple because you're trying too hard, and that always has the opposite effect. A turn off. PS: We're not family either.
Couldn't *_DISAGREE_* more ! If you do your research you'll find that the kind of visuals you refer to, in fact (for many people), greatly assist in the ability for the brain to retain information. It also helps to keep ones attention on the subject being discussed. You also seem to take offence to Casey's use of the term *_fam_* ?? Hope you get to understand yourself better as to why you would watch channels that you find objectionable. Good luck with finding future happiness
@@goonaa6924 I read "somewhere" that you are wrong. You can research that because I said so. So, _you_ disagree and I like pineapples. If we have something to say in this world it's important that it is our own opinion(s). Good luck on your research, I hope for your sake you do not pull it out of your ass one more time.
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Hello, fam! Crypto Casey, here 👋 and I'm on a mission to improve people’s lives through #crypto education. In this important video, we delve into the necessary but "less-than-thrilling" topic of cryptocurrency taxes for the 2023 tax season. We review the expanded IRS requirements for digital asset reporting and introduce CoinLedger, a free tax software that simplifies the complex process of tracking and filing cryptocurrency taxes to save you time and maximize your refund. Let's jump in!
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DISCLAIMER: The information contained herein is for informational purposes only and not to be construed as financial, legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome. © 2024 Crypto Casey. All rights reserved.
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So basically the government knows gow much Bitcoin we hold and all the Altcoins that we hold in general! This is so evil they violate our privacy in my opinion!
that's literally what crypto is at the core no privacy. But I get what you're saying, a wallet doesn't have a wallet holder name.
Paying taxes to the Federal Reserve bank for a currency that is not a Federal Reserve Note to begin with. Something isn't right here. 🤔
So if the IRS can see and determine whether or not you've filed your crypto taxes, and then are able to take action against you over it. Why can't the IRS just gather all that info from the blockchain and process the people taxes on their own and just send out a bill if you owe or a deposit of what a person is to receive?
Happy 2024 Crypto Casey 🫵You Rock 🤘🎸🗿🏆🥇💪💙
I'm new here please. What are the best strategies to make huge money/profit through cryptocurrency trading ?
Someone suggested that crypto trading is far better than buying to hold for a long time but I have no idea whom to direct me or even trade for me.
Glad I got into crypto when I did because it's been a turning point for me financially been my best decision so far
Step 1) Stop filling out the confession form.
"You have a right to remain silent. Anything you say can and will be used against you."
Um, the US Government can track crypto better than an Apache scout, I'd tread very carefully on that one!
@@Beautramaen says the fed
Casey, you are a bright spot in this chaotic environment. Learned so much from you, thanks!!
Really crypto is none of their business, That is downrite oppressive. Something needs to be done.
Yes, if asked, your boating trip didn't go as planned.
the IRS can track cryptocurrency, including Bitcoin, Ether, and a huge variety of other cryptocurrencies. The IRS does this by collecting KYC data from centralized exchanges.
do they give you money if you lose while trading? or just take it away if you win?
If the government is tracking us, this is no longer decentralized
I have a CPA that is also a crypto fanatic. He's been my tax guy for about 15 years now.
Super important video. People who don't take taxes seriously get ruined. Good work.
Defund the IRS.
Expeditiously
Thanks for the analysis! Just a quick off-topic question: My OKX wallet holds some USDT, and I have the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). How should I go about transferring them to Binance?
Why would I pay taxes on my fking rewards that I didn’t even sell! Fking taxes hate it😢😢😢
This is so complicated that I can't even do the things I need to do in order to be able to pay them to do everything for me
You the best Casey! Thank you
How many years can they go back to audit your Crypto?
I do appreciate your knowledge on the subject and info though. Learned a lot. Hope cryptos future is not as dire as i suspect.
What about these NFT's that just show up in my ledger? I am sure they are scams!! I never touch those products, didn't ask for them, don't want them. Now what?
So good, thank you! 🙏🙏🙏
USA-centric. We’re not all from the U.S.
7:52
"Income" is the most used word in the U.S. tax code, and strangely the definition section gives a definition for hundreds of words, but NOT for "income". Was it overlooked??? YOU decide......
Happy 2024 Casey 🙂 Cool
Can u do this all on your phone? Thanks
Good video thank you
How did you learn all this its so confusing for a beginner, Im overwhelmed by crypto. I want to get started but have no idea where to start other than listen to your videos, its confusing.
It's misleading like this is quick. It takes up to 15 minutes just to sync each wallet transactions.
They not the Creators of it .
While the Pentagon "loses" billions a year.
This is gold
Am new an I want to start training but I do understand it need some help
love the video. i was excited about coinledger until my largest holding KASPA isn't supported. ugggg....any way to get around this?
If you can figure it out please let me know. Cryptocurrency tax is a complete nightmare. Tried CoinLedger, CoinTracker and Zenledger and they can convert can’t convert some csv files and you have to do it all manually. Try uploading 10,000 or more transaction and keep getting error. Can’t find a single Crypto accountant who knows how to do this or they want $500 per hour or $12,000 or more. Nobody talks about how to fix this.
Who's billionaires are bigger and more numerous? They have experts working for them as well. Even if they can't understand it they have more wealth and power.
Will coin ledger find transactions sent to wallet from exchanges and vice versa??
The same question
Video starts at 750
Crypto ledger doesn't work across all wallets
You and Lorenzo make a good couple..❤
What if you used another software for three years and want to switch? I wonder how far back and do you have to import every year again?
I would assume you pick up wherever you left off? That way it's all reported. But I'm no expert, just trying to figure this all out before the bull runs in 2024!
How can there be taxes on something that has no laws or regulations. Ain't paying shit.
Tx fees should be a write off. Think about it.
It’s easier if the irs just drains my blood. 🤦🏼♀️
I'm too dumb for this🤦🏾♂️🙄
And to broke to pay a person🤦🏾♂️ Wait too many steps for me
I guess i'm going to jail
😂😂😂
I do think world banks will take over bitcoin
so.. not free
When our govt has taken over Crypto it'll all be cool. Cool. Only u won't know whar the USD will be worth tomorrow. It's paper IOU notes. Not gold for instance.
❤❤❤
You go through these steps to fast
😳
No fear mongering please 😖
People like you who fear facts call such things Fear Mongering.
These are all facts.
Agents will show up to your house..check youtube for proof.
After hundreds of letters and warnings they will send agents to arrest you.
🐈 😻 🐈⬛️
.
We seriously need a UK equivalent of Crypto Casey who covers the importance of crypto safeguarding, protection and taxation but from a British perspective. It's all fine watching endless clips of crypto commentators blab on and on about 10x-ing this or that ... but what's the point if you risk losing it all because you didn't take sufficient measures to cover your a*s (if you're North American) .... or ar*e (if you're not) ? !! Thanks and respect to you Casey for the continual insights and education.
They have no real rights over CRYPTO to tax it .
Yes they have! 😂
They don’t need rights, they have laws
Hold your coins for 1yr then cash out after its 15%
Definitely but buy now if you wanna take advantage of this next bull cycle lol. So 12 months later we'll be deep into the bull run in 2025 and cash out
I find it easy to go boating this time of year.
It always ends with an accident involving a wet seed backup and a lost hard wallet.
the IRS can track cryptocurrency, including Bitcoin, Ether, and a huge variety of other cryptocurrencies. The IRS does this by collecting KYC data from centralized exchanges.
@@edthewardwhat if you don’t do kyc?
Lost/stolen crypto is not deductible. I looked into this
You can always "gift" it to someone though. That is 100% deductible, has no limit, and the person recieveing it would have to pay any tax if they sell it
Do Americans actually make "INCOME?" Or do they make money based on their labor? Many have alerted the IRS, legally that they know what the tax code actually says, and how it defines income. It applies to foreigners. They crumble under the evidence.
Thank you, Crypto Casey! I was kinda dreading tax season. This should help.
This is another episode of top tier crypto advice! This service looks very promising so thank you for the detailed explanation!
Good Video. Used CL for 2022 and was a breeze. I'm assuming no discount codes available this year?
BTW - Thoughts on how we'll figure out Capital Losses after Celsius bankruptcy and funds get back to us in 2024? Thanks!
We ❤ u Casey but tax is voluntary. Just decline the offer. You are spreading unnecessary fear.
Thanks for the interesting content! 😍 Just a small off-topic question: 😅 I have a set of words 🤷♂️. (behave today finger ski upon boy assault summer exhaust beauty stereo over). What is this? 🤔
DO NOT COMPLY
Let us know what Federal prison is like while you are there.
@Beautramaen really? You think they own bitcoin?
I'm saying that the US Federal Government can track crypto easier than you can and escaping taxes won't end well for anyone.
@Beautramaen they cannot enforce what does not belong to them. They cannot hack the blockchain. They will die if they try. Do not comply. You are a coward if you do.
Thanks just talked too fast you lost me in the middle …
What if you swap tokens on a DEX do those have to be reported? I heard no …
Yes, u have to report everything Cex, Dex and even staking.
theres no uniswap for me
Is there a minimum amount that doesn’t need reported? I prefer Roth crypto. But if one has $50 in a wallet for airdrop farming, is this required? Thank you for all the good content!
Taxes - If you receive crypto when buying a cold wallet, how is it classified in taxes? Income or Air Drop? Thank you for your time and assistance.
The ability to see data is restricted to paying accounts by my experience. No viewing allowed
Casey is a smart operator, if only I was aware of this crypto in 2010 today I would be free.
india Income tax 30%
thank you🤑🤩
It's annoying with all the extra fluff you add on the screen with logos and text(as if the background isn't disturbing enough as-is). It's just too much going on. Keep it simple because you're trying too hard, and that always has the opposite effect. A turn off.
PS: We're not family either.
Couldn't *_DISAGREE_* more ! If you do your research you'll find that the kind of visuals you refer to, in fact (for many people), greatly assist in the ability for the brain to retain information. It also helps to keep ones attention on the subject being discussed. You also seem to take offence to Casey's use of the term *_fam_* ?? Hope you get to understand yourself better as to why you would watch channels that you find objectionable. Good luck with finding future happiness
@@goonaa6924 I read "somewhere" that you are wrong. You can research that because I said so.
So, _you_ disagree and I like pineapples.
If we have something to say in this world it's important that it is our own opinion(s). Good luck on your research, I hope for your sake you do not pull it out of your ass one more time.
I remember you were planning on making a video about pro crypto for election. @cryptocasey