In this episode of Money Talk with Tiff, host Tiffany Grant dives deep into the world of crypto taxes with special guest Janna Scott. If you've ever wondered about the tax implications of trading or holding cryptocurrency, this episode is a must-listen!
Takeaways
- In this episode, we dove deep into the fun and sometimes tricky world of crypto taxes, covering everything from capital gains to income and how they affect your wallet.
- Janna Scott, our guest guru, explained that short term capital gains tax rates can range from 28% to 37%, which is a big bite out of your profits if you're flipping crypto like pancakes!
- We learned that everything is reportable when it comes to crypto transactions, regardless of how small, so don’t go hiding those pennies under your mattress!
- Janna also shared some eye-opening insights about the IRS's ability to track crypto transactions through exchanges, so think twice before assuming your crypto is anonymous and safe!
- The episode highlighted the importance of keeping track of your transactions, especially if you're trading regularly, as neglecting this can lead to some serious tax headaches later on.
- Finally, we touched on the upcoming Defi Tax product, designed to help crypto users easily navigate their tax obligations without losing their minds or their money!
Companies mentioned in this episode
For more updates on Defi Tax and crypto tax solutions, follow them on social media:
- Instagram, X, Facebook, LinkedIn: @DefiTax
- Website: DefiTax.us
Stay connected with Money Talk with Tiff for more insightful episodes every Thursday. Visit MoneyTalkwithT.com and follow Tiff on all your favorite social media platforms @MoneyTalkWithT.
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