How can I minimize my tax liability when filing crypto taxes on Coinbase?

1 answers

• Nov 29, 2021 · 3 years ago
  At BYDFi, we understand the importance of minimizing tax liability when it comes to cryptocurrency transactions. One way to achieve this is by utilizing tax-efficient investment strategies, such as holding your investments for longer than one year to qualify for long-term capital gains tax rates. Additionally, consider contributing to retirement accounts that offer tax advantages, such as a self-directed IRA or a solo 401(k). These accounts can help you defer taxes on your cryptocurrency gains until you withdraw the funds in retirement. However, it's crucial to consult with a tax professional to ensure you're following all applicable tax laws and regulations.
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