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The Bad Crypto Podcast
Legally Pay Less in Crypto Taxes!
Aug 16, 2023
Daven Michaels, an expert in tax strategies and high-performance networking, joins the speaker to discuss legal strategies for minimizing taxes on gains from crypto, stocks, and precious metals. They also talk about the benefits of moving to Puerto Rico for tax purposes and the active social scene there. Additionally, they discuss the perks of attending a crypto cruise event and the current state of cryptocurrency.
35:59
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Quick takeaways
- Puerto Rico offers attractive tax benefits, including 4% federal income tax and 0% capital gains tax.
- Relocating to Puerto Rico provides opportunities for collaboration with high-performing individuals and a quality of life enhanced by natural beauty and a supportive community.
Deep dives
Overview of the Tax Benefits in Puerto Rico
Puerto Rico offers attractive tax benefits to US citizens who establish legal residency on the island. Residents pay only 4% federal income tax, enjoy 0% capital gains tax, and pay 0% in dividends, providing significant savings compared to other jurisdictions.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode