

#488 10 Crypto Loopholes The Rich Use To Get Richer
8 snips Mar 26, 2024
Discover 10 crypto loopholes used by the rich to save taxes and build wealth. Learn about asset protection strategies, managing crypto investments, maximizing tax deductions, and utilizing Roth IRAs for long-term wealth growth.
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Asset Protection with a COPE LLC
- Protect crypto assets from lawsuits with a charging order protection (COPE) LLC.
- Consult a lawyer specializing in crypto asset protection for proper setup and maintenance.
Wash Sale Strategy
- Utilize the wash sale strategy to your advantage in crypto.
- Sell crypto at a loss, immediately repurchase, and avoid taxes on future gains.
Hardware Wallet Security
- Secure your crypto keys using a hardware wallet like Nano Ledger or Trezor.
- Be mindful of the risks of forgetting keys or losing the physical device.