trading on non-US friendly crypto exchanges and minimizing tax gains

[vit]

Hi, I need help regarding two topics:

1) I'm a US citizen and I'm unable to trade on certain crypto exchanges like Binance. Is there a way to get around this issue?
2) I just paid my capital gains taxes and its ridiculously high (37% tax bracket but compared to what I cashed out vs what I owed to the IRS in 2023, it's like 50% of my crypto cashout). Are there any legal strategies/loopholes to minimize my capital gain taxes? I saw some mentions about setting an offshore company to help with this but I'm a total rookie in this matter. I'd love to know how an offshore company would help minimize the taxes.

Forfeiting my US citizenship is not option as my entire family is in the US. I don't mind traveling around though, just don't want to relocate from my US home.

thanks in advance for any guidance!

 

[jafo]

vit said:
Hi, I need help regarding two topics:

1) I'm a US citizen and I'm unable to trade on certain crypto exchanges like Binance. Is there a way to get around this issue?
2) I just paid my capital gains taxes and its ridiculously high (37% tax bracket but compared to what I cashed out vs what I owed to the IRS in 2023, it's like 50% of my crypto cashout). Are there any legal strategies/loopholes to minimize my capital gain taxes? I saw some mentions about setting an offshore company to help with this but I'm a total rookie in this matter. I'd love to know how an offshore company would help minimize the taxes.

Forfeiting my US citizenship is not option as my entire family is in the US. I don't mind traveling around though, just don't want to relocate from my US home.

thanks in advance for any guidance!
Click to expand...

You need to hire a US CPA or tax attorney for this matter.

 

[wellington]

jafo said:
You need to hire a US CPA or tax attorney for this matter.
Click to expand...

Surely...

Find a fund of funds outside of the US, invest in that via a corporation, and only pay tax on dividends.