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Saturday, 04/24/2021 2:38:13 PM

Saturday, April 24, 2021 2:38:13 PM

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Some useful tips on avoiding taxes when using Bitcoin to buy gold tokens.

Gold is tax-free, and because of concerns over unbacked cryptocurrencies, precious metal merchants have started offering Bitcoin investors an opportunity to swap your crypto assets for gold or invest in an ICO that is backed by gold.

Buying gold with digital assets has been made easy – as easy as purchasing precious metals with fiat currency in fact.

Gold provides a solid (pardon the pun) solution to swerve the tax man.


https://bitemycoin.com/opinion/how-to-cash-out-your-bitcoins-without-paying-taxes-5tips


It isn't common knowledge that you can put a variety of alternative assets in your retirement account, such as real estate, precious metals, private placements and more. This is allowed under the rules of self-directed IRAs, which only exclude certain types of investments. When the IRS designated digital currencies as personal property in 2014, Bitcoin and other digital currencies immediately became eligible for placement within a self-directed IRA.

For tax conscious individuals, a bitcoin IRA can be attractive as you don’t trigger taxable events when trading within these accounts like you normally would when trading on a normal cryptocurrency exchange. All of your income is tax deferred or tax-free (in the case of a Roth IRA).
https://cryptotrader.tax/blog/best-crypto-and-bitcoin-ira

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