Top tax tips for crypto traders ahead of tax season
Are you a crypto investor concerned about how your digital asset investments will impact your tax bill? Gordon Law Partner Tax Attorney & CPA Andrew Gordon joins Wealth to provide guidance on cryptocurrency tax implications.
“Crypto investing is unlike investing in any other stock or security,” Gordon states. He emphasizes that unlike traditional investments, tax reports aren’t automatically generated for cryptocurrency transactions. Instead, the responsibility falls on individual crypto traders to report their activities, warning that “if you don’t report properly you could have severe penalties or even worse.”
Gordon highlights crypto donations as one potential tax reduction strategy. He explains that investors who realize…
