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Law was just passed that impacts your crypto holdings but there is a whole lot of confusion around this bill and what it actually means for both beginner and advanced crypto investors
The law that has been passed is the new $1 trillion dollar infrastructure bill
-We luckily have two things going for ourselves here.
1st I’ve personally read hundreds of pages on this 2700 page bill and have even broken spending down into 13 graphs
And 2nd I’m a dork who has experience in digesting these bills into words that can actually be understood.
So let’s briefly cover this bill, how it impacts your crypto, and a dramatic change we may see in the future.
Schedule one-on-one business consulting with me here: https://max-maher.teachable.com/p/1hr-consultation-call
*I am not a financial advisor. This is not financial advice*
source
Hidden on page 42,069 of this bill is some verbiage requiring you to smash the subscribe button.
Sorry, it’s the law, I don’t make the rules.
After watching so many YouTube tutorial videos about trading I was still making losses untill Mr George William started managing my investment. now I make $6,800 weekly. God bless Mr George William . His been a blessing to my family.
Isn’t this the Build Bank Better bill that didn’t pass?
Is this law only applicable to U.S citizens? Or once you use centralised platform like coinbase, you’d be eligible to pay tax?
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hey max ,I'm from australia and would like to see if you could send information for people like me who have crypto with a US based person invested for nearly 2 years now .Ive learnt a lot of stuff from you and other you tubers and wasn't aware about the tax rules regarding crypto ,many thanks jk
Thank you.
F this. What a bunch of confusing bull
Joe Biden and the Democrats are the worst thing for crypto investing and for your own personal prosperity! They want to implement over 85,000 new IRS agents to overlook everything that you do financially and text you to death!!! If you did nothing wrong… You will go financially bankrupt trying to fight them in court! Elections have consequences people…
Broker? I barely know her!
There’s a lot of confusion around our President in general
I'm really coming to the conclusion that crypto was created by government body.
THEY ARE EVIL , GREEDY, &JEALOUS RICH DEM THEY CANT BELIEVE THE AVERAGE PERSON IS HAS FINALLY FOUND A WAY TO MAKE THERE OWN MONEY. outside the stock market where they have been keeping it to themselves for so long. Unreal
they cant believe we are slipping through the system without there supervision! They cant stand by and not get a piece of the action! They are determined to keep us poor
This is an amazing video with great information and loads of effort. Value for your time. Appreciate you brother. It’s a good thing you find a personal interest in this otherwise oh what a grind it would’ve felt like.
Note: it was probably STILL quite the grind.
Hands of my crypto!
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But what happens if were not USA based so we don't pay USA taxs anyway and couldn't coin exchanges just move off shore anyway so they could totally skirt all of these things like reporting to tax office etc ? I know daft question.
Just know it protects the rich.
Tarzan came a long way.
Generally speaking, nothing the government does is intended to aid the individual. Those who find their situation improved because of legislation can consider this to be a benefit because of unintended consequences only. What needs to happen is that crypto currency needs to be treated as a currency. Currently this is not advantageous to the government as they make more money thru capital gains taxes. If I spend crypto, it should be no different than if I spent euro. It shouldn't matter if I bought my euro using dollars. From an accounting standpoint, I have some crypto stored in a cold vault, only 1/100 BTC. If I were to move this to an exchange or sell it, I don't know what cost basis to use for taxes. Fortunately, I keep good records for what is in the exchange.
8:04 The ATF does this all the time to "define" regulations effectively criminalizing whatever they was just by "clarifying" a definition.
TREASON FOR ALL POLITICAINS AND TV STATIONS IRS CDC NOW REVELATIONS 19:11
You are really the best! Thanks so much for helping me understand this space so much better!
What is the jurisdictional authority for what you say is the law??????
Man I can't stand seeing or listening to that dirt bag! Had to listen to months of all of that about Trump and a totally made up quid-pro-quo… meanwhile Biden went on national television and bragged about how he forced a quid pro quo in Ukraine withholding tons of money until they fired the prosecutor that was going after the bidens and burisma to save his own family's ass! Literally went on national television to brag and laugh about it! Not to mention all the other crap! Man these leftists are dirtbags and half the Republicans are trash too actually helping the Democrats further their leftist agendas! Country is so screwed
Great video. At the end you talk about an amendment that says miners will be exempt. What does that mean? Miners aren’t considered brokers?
I just read about this today and was blown away as it was the first I heard about having crypto taxed. It seemed not very many people were aware of it wherever I looked. You are the exception and definitely ahead of the curve. Thank you for explaining it simply as well. Another subscriber on the books!
Great work 👌 cheers
If they're planning on taxing unrealized gains, then it's only fair to compensate unrealized losses. Lots of 85% dips in crypto. Life isn't fair, I suppose!