What are the best crypto currency tax planning advice?

[rydg187]

Hello,

I am a USA citizen. I am currently investing in crypto currency. I have a few holdings in different types of crypto. I am interested to know about "CREATIVE and UNORTHODOX" ways of keeping as much of the profits as I can away from the tax man. Where are the gray areas and loop holes?

My goal is to earn profits from investing in crypto currency and then in 5-10 years later from now after I have made good profits.... take those profits and invest in rental real estate properties in the USA.

Can people here please give me some guidance or point me to professionals who can help me in these matters.

Thank you in advance

 

[belarus]

You want to consult an local CPA, he will be able to help you with some sort of company setup to make it all legit and even reduce the total tax to be paid.

 

[mnschwarz]

As an American you have a harder time with taxes than most. As mentioned above definitely consult a local professional but depending on how much you're investing / earning, you may be best suited to follow similar structures that the large American giants such as Apple use. That is keep your profits offshore to defer taxes. And I say defer because that is all the large companies are doing, albeit indefinitely. If you take your profits back onshore you will be taxed on them. You may be better served with a goal to not take your profits back to the US in the future.