How to not pay taxes on your crypto gains!?
Loan
I saw this question pass by on X today, and was very curious for the answers. And the best answer was actually quite obvious!
The case is simple, someone has 14.7 million US dollars in crypto, and wants to know how they can cash out without paying taxes, or at least pay as less taxes as possible.
The answer is quite simple and straightforward and has actually very little to do with crypto. It uses a strategy that is used for gains in other financials, like stocks.
Use the crypto or stock as collateral and loan against them. Use some of the lent money as income and put the rest in a high yield savings plan and pay off your loan with the interest.
Sounds quite simple? It is, and it is used by billionaires like Elon Musk and companies like Strategy!
Be smart and loan!
Sincerely,
Pele23
Posted Using INLEO
There are easier ways than this.
Good to know, will keep it in mind :)
Transfer from one crypto to another crypto is a taxable event in many jurisdictions, response invalid.
You also need a way to service the loan...
Mmm, here in Belgium that’s not the case. Servicing the loan by putting your lent money in a high yield account, higher than your loan interest, ideally 😉
Such infinite money loop holes do not sadly exist in my jurisdiction :D