So I made 100 grand cash off of crypto this year and I know I'm gonna be paying 25% of it in taxes this year.
My cousin who just got his 4 yr degree in accounting texted me and said he could do the paperwork and get it so I don't pay anything in taxes.
Now that sounds great and all, but I really don't like dealing with the guy and would prefer to do it on my own.
Is there really any loopholes when filing capital gains taxes or is it a straight 25-28% no matter what? What could he realistically change?
>>2708530
Capital gains tax is 13 percent
>>2708530
don’t fuck with the IRS
Don't trust this clown, get a real fucking accountant.
I suppose I could set it up for you. That would save you some money. I'll write down the forms you need, you can pick them up, and I'll prepare them for your signature... nearly free of charge... I'd only ask three beers apiece for my co-workers, if that seems fair. I think a man working outdoors feels more like a man if he can have a bottle of suds. That's only my opinion.
>>2708549
I've held it less then a year so it's treated as income.
I'd deal with someone yelling at me and calling me a faggot for 1-2 hours at this point if this meant I would save $25k.
"Dealing with the guy" seems like a walk in the park for 25k.
There are people on this board trading for hundreds of dollars. Don't be a bitch nigga.
>>2708558
Good movie
>>2708530
Politely decline all cousins who gives you mad dealz, don't fuck with tax authorities and you will lead a happier, albeit a tiny bit poorer, life.
>>2708574
This. The money isn't worth fucking up your life
>>2708530
>4 year degree in accounting
Shit man dont trust anything less than a grad when it comes to important things
>>2708562
this. seriously, are you legit retarded OP? at least discover his strategy somewhat and then research yourself if it's legit or not
hey buddy, don't evade taxes
>>2708530
Nigga who cares isnt your accountant liable if he cheats on your taxes in Murica?
>>2708560
Then hold it for a year..
>>2709290
You are also liable and the IRS is relentless
>>2709311
Liable to pay them back and for fraud? or just to pay them back. Because if its the latter its worth a shot
>>2708530
Talk to someone who has a good accountant, and start an LLC. You are legitimately running and investment firm, you need to get taxed like one. You will end up paying a lot less.