Bill Harris, Evergreen Wealth Founding CEO and former CEO of PayPal and Intuit, joins Caroline Hyde to discuss the current state of the crypto market and crypto investing strategies. He speaks on 'Bloomberg Technology.' (Source: Bloomberg)
I'm interested when you're looking at the regulatory overview, when you're looking at everyone suddenly probably calling you up, wanting to know how their investments in crypto were looking and how they should make the most of them. Do you make changes ahead of an administration change? Yes, of course. What you do is you try to anticipate where it's going.
First of all, it's lower tax rate than ordinary income, but it's also then there are many things you can do about the timing of recognizing capital gain. If you don't do that, if you don't think about the timing, then you're going to be hit by anything from 20% to 40 35% capital gains tax when you sell at a gain. There are some really terrific things you can do to reduce, offset, defer or even eliminate that capital gains tax. But you have to be smart about it.
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