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The IRS vs. Bitcoin

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Manage episode 288811390 series 46481
Content provided by The Rich Dad Company and The Rich Dad Media Network. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by The Rich Dad Company and The Rich Dad Media Network or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
If you sold, mined, or traded cryptocurrencies in 2020, then this episode is for you! Tom Wheelwright, Rich Dad Advisor on Taxes, warns listeners as they prepare for filing taxes this year, “Anytime you use or trade your virtual currency, that’s a taxable event.”
But what does trade mean, exactly? According to Tom, if you did anything other than just buy it, then you have to declare it—if you don’t it’s a felony.
In addition to the tax rules of cryptocurrencies, Tom and Robert discuss opportunities to pay less taxes on other commodities like gold, silver, oil, and solar. And as Tom predicts, Green Energy investors will be rewarded with incentives in the near future because every government wants cheaper energy.
Host Robert Kiyosaki and guest Tom Wheelwright discuss what changes are happening for gold, silver & Bitcoin, and how you can pay less taxes, legally.
To learn more about the IRS Tax code on cryptocurrencies, visit: www.wealthability.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
  continue reading

486 episodes

Artwork
iconShare
 
Manage episode 288811390 series 46481
Content provided by The Rich Dad Company and The Rich Dad Media Network. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by The Rich Dad Company and The Rich Dad Media Network or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
If you sold, mined, or traded cryptocurrencies in 2020, then this episode is for you! Tom Wheelwright, Rich Dad Advisor on Taxes, warns listeners as they prepare for filing taxes this year, “Anytime you use or trade your virtual currency, that’s a taxable event.”
But what does trade mean, exactly? According to Tom, if you did anything other than just buy it, then you have to declare it—if you don’t it’s a felony.
In addition to the tax rules of cryptocurrencies, Tom and Robert discuss opportunities to pay less taxes on other commodities like gold, silver, oil, and solar. And as Tom predicts, Green Energy investors will be rewarded with incentives in the near future because every government wants cheaper energy.
Host Robert Kiyosaki and guest Tom Wheelwright discuss what changes are happening for gold, silver & Bitcoin, and how you can pay less taxes, legally.
To learn more about the IRS Tax code on cryptocurrencies, visit: www.wealthability.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
  continue reading

486 episodes

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