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There are only two things certain in life: Death and Taxes. If you did any crypto trading in 2017, the tax man will cometh in a few weeks. Crypto might have begun as a libertarian dream, unfortunately, that has not come to fruition, so you have to pay taxes. Some of you made a lot of money in 2017 but then left your money in crypto, which has crashed in 2018, but you still owe money on the crypto gains from 2017. Ouch. Hurts, I know. Rather than ignore it, learn about different methods to manage it. We talk crypto tax expert Zachary McClure about some of the top questions people have around filing taxes on crypto. We define terms like long term capital gains, short term capital gains, 1031 exchanges.

Listen on Apple iTunes or Google Play Music.

Show notes:
01:25 Zachary McClure background
03:23 Intro to Token Tax SAAS service
03:43 Taxable event on crypto-to-crypto trades
04:55 Definition of Capital Gains, Long Term and Short Term
06:28 1031 Exchange
08:30 Why you still can owe taxes if you never cashed out your crypto
13:37 Different accounting methods for calculating Crypto Cost Basis
15:49 Income tax brackets
17:20 Trading under LLCs
17:40 Impact of forks on taxes
29:10 Impact of mining crypto on taxes
33:20 Pass through entities
34:50 How Tokentax works.
38:13 Zac’s favorite crypto projects

Connect with Zachary:

TokenTax: www.tokentax.us
Twitter: @ZacharyMcClure
Linkedin: Zachary McClure LinkedIn

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