Not Paying Your Taxes!!
This continues my series aimed to help crypto newbies avoid costly mistakes. Know some people new to crypto? This should be helpful.
After an especially bullish spring, there are likely to be some newly minted millionaires. Whether you put $100 or $10000 into crypto at the beginning of the year, if you have sold any of your tokens you’re going to need to speak to a tax professional to ensure you are compliant with your country’s tax laws.
Al Capone was sentenced to prison for tax evasion, where he later died. Don't be like Al.
I’d also encourage you to talk to a professional about ways to minimize your taxes in the future. In the US, there are a number of ways to legally reduce your taxes. It is worth your time and money to have a professional help guide you through this process!
I’m not a tax professional, so I’m going to keep this post short. Pay your taxes. You don’t have to smile while you do it, but don’t get yourself in hot water with your government because you were greedy! Pay your taxes!!!
