In this podcast episode, we delve into the current state of Bitcoin and explore the concept of dollar cost averaging as a strategy for navigating the volatile crypto market. Bitcoin's price has been fluctuating, with experts suggesting that it could drop to $20,000 if it fails to surpass a certain line. We also discuss the upcoming halving event, which involves reducing the rate at which Bitcoin … [Read more...]
Ep. 003: Crypto Tax Tips: How to Navigate Different Types of Crypto Income
In this podcast episode of Thursday Tax Tips, we discuss the various types of crypto income and their impact on taxes. From the buy-and-hold strategy known as "Holding" to income from staking and interest-bearing assets, we explore the tax implications of these activities. We also discuss the concept of return of capital and the importance of choosing the right tax software for accurate reporting. … [Read more...]
Crypto Tax Tips: How to Navigate Different Types of Crypto Income
Today, we're diving into the world of crypto investing, discussing various crypto income types and how they impact your taxes. (This post is from our series of Facebook Lives. Catch the next one on our Facebook channel.) Introduction It's Thursday, and that means it's time for another round of Thursday Tax Tips with Beta Virtual Assistance! Hodling - The Buy-and-Hold Strategy The … [Read more...]
Ep. 002: Crypto Loan Pitfalls: Avoiding Tax Traps in Volatile Markets
In this podcast episode, we explore the intriguing world of cryptocurrency loans and their tax implications. Discover how borrowing against your crypto holdings can be a smart strategy if you avoid common tax traps, helping you avoid capital gains taxes when selling your digital assets. We also share essential tips for managing crypto loan transactions for tax purposes. However, be careful about … [Read more...]
Crypto Loans Pitfalls: Avoiding Tax Traps in a Volatile Market
Explore the tax-saving potential of crypto loans and learn how to navigate their complex implications. Discover essential tips to avoid loan pitfalls and make informed financial decisions. (This post is from our series of Facebook Lives. Catch the next one on our Facebook channel.) Introduction Hello, readers! It's Tuesday which means it's time for our weekly discussion on crypto tax … [Read more...]
Diversification and Safety Tips: What Works in Crypto
Learn about the importance of diversification and safety in the crypto world. Discover practical safety measures and the complexities of crypto taxes. Stay informed, diversify wisely, and get assistance with your crypto tax journey. (This post is from our series of Facebook Lives. Catch the next one in our Facebook channel.) Diversification: A Vital Strategy Last week, we discussed the … [Read more...]
Ep. 001: Diversification and Safety Tips: What Works in Crypto
In this podcast episode, we discuss the importance of diversification and safety in the crypto world. Diversifying your crypto assets is essential for mitigating risk and protecting against unexpected events. However, finding the right balance is crucial, as over-diversification can become counterproductive. We provide practical safety tips, such as using a wallet you control and verifying … [Read more...]
Crypto Investing: Cultivating Your Wealth Like a Pro Gardener!
No one would ever confuse me with a gardener. It’s not quite that I have a brown thumb, but I certainly am not producing hundreds of pounds of extra vegetables to donate to the Food Bank like my dad does out in Idaho! In any case, have you ever thought about how similar crypto investing is to gardening? It may sound crazy, but hear me out. Just like a skilled gardener carefully tends to their … [Read more...]