Toby Mathis, Esq. welcomes Preston Knight, Esq., Senior Attorney at Anderson Advisors to the show to discuss some of the tax implications around crypto mining. You’ll hear how and when transactions are taxed, how the IRS views crypto and mining as a business entity, and some tips and tricks for avoiding and minimizing short and long-term capital gain and other taxes.
Highlights/Topics:- Taxable events
- How the IRS views your work
- Capital gains hit when paying with bitcoin
- Short vs. Long term gains
- ‘Staking’ and how it is taxed
- Working through an S-Corp
- How to use a Roth to avoid taxes
- Using depreciation
- Writing off business expenses
- Airdrops and forks - what are the tax implications?
- Tracking and bookkeeping
Tax and Asset Protection Events
https://andersonadvisors.com/real-estate-asset-protection-workshop-training/?utm_source=aba&utm_medium=podcast&utm_content=how-crypto-mining-sales-and-staking-is-taxed
https://www.youtube.com/c/tobymathisesq
https://andersonadvisors.com/
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
