Mastering Crypto Taxation: Maximize Profits, Minimize Liabilities! Dive into the world of cryptocurrency taxation and learn how to navigate the complexities of crypto investments. From understanding taxable events to calculating capital gains, discover strategies to minimize your tax liabilities and maximize the benefits of your digital assets. Stay compliant, well-informed, and ready to tackle the challenges of cryptocurrency taxation! Quiz: What is the cost basis of a cryptocurrency? a. The original value of the asset, typically the purchase price, plus any additional costs such as transaction fees b. The selling price of the asset c. The total value of the asset at the time of sale What is tax-loss harvesting? a. A strategy to reduce taxable income by selling underperforming assets at a loss b. A strategy to harvest more losses by buying high and selling low c. A method to avoid taxes altogether Which type of retirement account allows for tax-free qualified withdraw
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 :)