Can I Defer Capital Gains Tax
On The Sale Of Cryptocurrency?
The answer is YES!
Can I defer capital gains tax on the sale of highly appreciated cryptocurrency? The answer is YES. Using the Deferred Sales Trust, you can now transfer your coins to a Deferred Sales Trust, an exchange for what’s called a promissory note to pay you overtime. It’s kind of like an IRA. It’s kind of like a 401k. That if you do it in the right order. You can defer all of the Capital Gains Tax. The big challenge with most of my clients before, they feel trapped to sell their Bitcoin or Ethereum or XRP, because of the large Capital Gains Tax. Now, if you’ve owned Cryptocurrency for more than a year, you have what’s called a Long Term Capital Gains Tax Rate. You want to be aware of what state you live in, and perhaps even what Capital Gains Tax you’re going to pay.
I want to tell you about a recent story quickly of a client who bought Ethereum. They worked in Silicon Valley for 20 years, and they’re looking at a very, very multi-million dollar gain on the sale of their cryptocurrency. They were able to use the Deferred Sales Trust to defer all of that gain. What was so cool about that is they were able to actually now retire from their day job. They’re going to start their own business and invest in some Real Estate also into some more diversified investment-grade securities, all tax-deferred using the Deferred Sales Trust. I want to teach you all about this in fact, I have a Mastermind every Friday at 10 am Pacific Standard Time, you can attend at no cost and you can learn about the Deferred Sales Trust we want to demystify what this is, how it’s legal, how it works so that you can create preserve more wealth or help your clients do the same. Go to CapitalGainsTaxSolutions.com to Register For Free and also download my Free eBook Selling Real Estate or Business or Cryptocurrency Smarter, you can go to CapitalGainsTaxSolutions.com Thanks so much for watching this video. I look forward to connecting with you real soon.
Closed Deal Story
Selling Bitcoin, Ethereum Capital Gains Tax-Deferred Using the Deferred Sales Trust
I believe that is where we’re at with cryptocurrency’s current marketplace. We closed the first Bitcoin and Ethereum case for $5 million and helped the client defer around $1.5M in capital gains tax. Now we’re getting a wave of individuals who are finding us. You might be finding us right now.
One of the biggest challenges with folks who are selling cryptocurrency is they want to be able to diversify, they want to be able to time the real estate market and or even the crypto market, they want to be able to have some liquidity, some cash flow, and so part of this vision is taking helping our clients who are in cryptocurrency, buy an investment, real estate, all tax-deferred, using the Deferred Sales Trust, also invest with Jake Mellor as the financial advisor to in a diversified investment grade security or start a business. Whatever the outcome that you want to do. Why is it that you’re investing with any type of asset? What if you could sell high, diversify, and buy back in whenever you’d like to? This is what we’ve already done and we’re doing, we’ve already proven it.
Read The Full Case Study Here
Join Our Crypto Capital Gains Tax Mastermind
Create a clear Deferred Sales Trust exit and wealth plan for your sale at the Capital Gains Tax Solutions Mastermind Livestream
Every Friday at 10 am PST/ 1 pm EST
Register for free CLICK HERE
Want to learn more? Check Out The Blogs Below!
- Can a Deferred Sales Trust Be Used for Mergers and Acquisitions?
- How to Defer Capital Gains Tax When Selling Your Cryptocurrencies
- Need An Exit Strategy? The Deferred Sales Trust Might Be the Answer