0:00: Important Court Case & It’s Implications for Crypto Investors 0:20 McNulty v. Comm'r of Internal Revenue 2:30 Facts about Bitcoin Court Case 3:13 Purchasing precious metals in an IRA 3:30 Section 408 of the Internal Revenue Code 5:00 How physically holding precious metals can lead to tax penalties 6:15 Laws pertaining to holding precious metals in Self Directed IRA 6:40 Why personal control of IRA assets defeats the purpose of an IRA 7:40 Do cryptocurrencies have an asset protection class? 7:54 Can I legally hold cryptocurrency in a cold wallet? 8:20 Can my IRA hold cryptocurrency in a cold wallet? 8:57 Is holding cryptocurrency in a cold wallet a taxable distribution? 9:15 Is it legal to hold cryptocurrencies on an exchange? 9:50 Why do people move cryptocurrencies from an exchange to a cold wallet? 10:08 Are cold wallets more secure? 10:25 How has this case changed crypto IRAs? 11:52 What type of assets can you physically hold in a self-directed IRA? 13:55 Can
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)