Crypto Taxation

Hi Mark,

I wanted to say I am a huge fan of the podcasts. It’s obvious that you and Mat do genuinely want to help the average Joe reach financial freedom.

I recently moved my Equity Trust Self-Directed account over to Directed IRA and I am in the process of opening an LLC through the attorney law firm KKOS. I have the majority of my assets in Gold, Silver and Crypto. The turnover process has gone well however, I did not realize that by liquidating my Crypto from Equity that I would be subject to short term capital gains taxes. I wish someone in the process would have stopped me from committing taxation suicide during the process. I figured it out by watching one of your recent podcasts on the subject.

Never the less, as you often say I am responsible for my own ship. My question is in 2024 is there a way to mitigate my 25K in short term tax liability before the end of the year? I am a high w2 earner and I am trying to avoid paying even more in taxes.

Look forward to hearing from you.

My Best,

Gary Hyre

Ghyre222@gmail.com

There’s no tax on the sale of anything inside your Equity Trust account (crypto, gold, silver, real estate). Not sure who told you that. Talk about this with the tax lawyer that is working on your LLC. Sorry, didn’t have time to cover it on the show. Mark and Mat