Cryptocurrency Taxes? Everything You Need To Know With A Tax Pro! Have you made profits from trading Cryptocurrency? Did you know that the IRS is a terribly greedy organization that really wants your money? Did you know you may need to pay taxes on your Cryptocurrency profits? If you have said yes to all of these questions? Did you say no? Either way, you should watch this video to better understand Cryptocurrency taxes and how to protect yourself against them. Especially in the current financial climate, you need as much information as possible when it comes to Crypto. In this video, we interview Rebecca Samuels who is a Crypto Tax Professional and she sheds light in the world of Cryptocurrency taxes. 0:00 Intro 0:50 Rebecca's Background 1:50 How is Cryptocurrency taxed at the moment 3:49 Crypto used for rent payment? 5:43 Tax write-offs with Cryptocurrency 7:44 Best tax structure for Cryptocurrency 9:40 Cryptocurrency regulation from the Government 14:15 Deferring capital gains taxes from Cryptocurrency Rebecca Samuels CPA EA Contact information - Info@pythagus - email www.calendly.com/pythagus - to book a consultation 240-482-8708 - phone www.pythagus.com Rebecca has been a Crypto CPA for the past few years and she has seen this sector evolve along that time. So currently the IRS expects everyone to pay taxes on their Cryptocurrency holdings. The IRS views cryptocurrency as property, so just like anything else that we earn, the IRS wants their cut, but it does depend on how you receive the Cryptocurrency. So in order for the IRS to properly categorize your cryptocurrency holdings, they must know the way that you received the Crypto. So what would happen if one day, your landlord and or tenants want to pay/receive rent payments in crypto? Well according to Rebecca it's a combination of receiving a rental payment AND in conjunction with the unrealized gain of the actual crypto. So there is two separate columns that would need to be figured out when filing taxes. Now one of the questions that we have (along with majority of other crypto holders)....is there special tax write-offs when it comes to crypto? Well according to Rebecca, crypto traders do not fall under the traditional "trader status" by the IRS. There is still A LOT of gray area when it comes to cryptocurrency that the IRS and the Government still are figuring out. 😃 Thanks for Subscribing & Liking our Video! 📧 ⌨️ FREE 7 Day Trial To PropStream Real Estate Investing Software: http://reisoftware.thekwakbrothers.com 📊 Pay Off Your Mortgage In 5-7 Years (On Average): https://www.youtube.com/watch?v=eGVn9iq1e6c 💻 JOIN OUR FREE FACEBOOK GROUP FOR LANDLORDS & PASSIVE INCOME: https://www.facebook.com/groups/bestreigroup 💳 Are you a Business Owner? Start Accepting Credit Card Payments with Lower Fees: http://emap.easypaydirect.com/go/signup/vf8d3N 🔊 Our Podcast: 🔹Spotify: https://open.spotify.com/show/7pnHJSNl7vPVFzq69IzC6B 🔹iTunes: https://podcasts.apple.com/us/podcast/first-deal-experience/id1282240923 📧 Hire the Kwak Brothers to Speak: info@thekwakbrothers.com #crypto #thekwakbrothers #cryptotaxes ======================== ---DISCLAIMER--- The suggestions, advice, and/or opinions that are given by Sam Kwak (The Kwak Brothers) are simply opinions. There are no guarantees of set outcomes. Listeners, guests, and attendees are advised to always consult with attorneys, accountants, and other licensed professionals when doing a real estate investment transaction. Listeners, guests, and attendees are to hold Sam Kwak, Novo Elite, Inc. and the Kwak Brothers brand harmless from any liabilities and claims. Not all deals will guarantee any profit or benefits. Listeners, guests, and attendees are to view and listen to all materials and contents furnished by the Kwak Brothers as a perspective based upon experience.