Cryptocurrency Q&A
How do I not pay tax on crypto?
How do I not pay tax on crypto?
Leonardo
Fri Mar 29 2024
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7 answers
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I'm a crypto investor, and I've heard that some people can avoid paying taxes on their crypto investments. How can I do the same? I don't want to get into any legal trouble, but I'd like to maximize my profits. Can you give me some advice on how to structure my investments to minimize my tax burden?
7 answers
SamsungShineBrightness
Sun Mar 31 2024
Donating cryptocurrency to registered charities can help reduce your capital gains tax (CGT) bill. Depending on the value of the donation and your overall tax situation, you may be able to significantly lower your tax liability.
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TaegeukChampion
Sun Mar 31 2024
Alternatively, if the value of your donation exceeds a certain threshold, you may be completely exempted from paying capital gains tax on that particular transaction. This is a great incentive for crypto investors to make donations.
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BlockchainBaronessGuard
Sun Mar 31 2024
When choosing a charity to donate to, ensure that they are registered and recognized by the government. This ensures that your donation goes to a legitimate cause and that the funds are used effectively and efficiently.
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KDramaCharm
Sun Mar 31 2024
Giving back to society through donations is always a commendable act. It not only helps those in need but also brings fulfillment and happiness to the donor.
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CosmicDream
Sun Mar 31 2024
If you have been successful in making profits from cryptocurrency investments, consider donating a portion of your earnings to registered charities. This not only benefits the recipient but can also have tax advantages for you.
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