Do You Own A Crypto Business?

Cryptocurrency News and Public Mining Pools

Do You Own A Crypto Business?

Just curious as we approach tax season (in the USA) if any of you have gone as far as creating a crypto business entity… I've been thinking of doing so for my small amount of mining for a few reasons…

The conversation I plan to have with my accountant. (1) We buy equipment (equipment depreciates). (2) We create revenue/assets that are held or sold (3) We resell equipment for profit (4) we use our time to manage a rig, fix equipment and maintain (essentially payroll opportunity) (5) we have electricity costs that can be split between personal/business.

Not sure what tax strategies could be implemented here to offset taxes now or down the road as crypto evolves…

Would love to hear from anyone that HAS done this or has considered it. Open dialogue

submitted by /u/greatdane84
[link] [comments]

Facebook Comments