There's often mass confusion about bitcoin and taxes. Many new bitcoiners are simply unaware and don't know what is/isn't a taxable event. In today's episode, Matthew chat's with Brian Bradley an asset protection lawyer about bitcoin taxes and how to protect them. 

If you plan on going to El Salvador as a US citizen to spend some of your bitcoin you may want to think twice. The IRS classifies bitcoin as property and will tax it accordingly. If you buy a coffee using your Lightning Wallet you are technically selling your property and creating a taxable event. 

Now, will you report this bitcoin taxable event? 

That's up to you. 

Brian's clients are High Net Worth Individuals who understand the privy of taxes. They want to pay the least amount of taxes on their bitcoin and protect it.  

Setting up a domestic trust in the US is a great way to protect your bitcoin from litigation and frivolous lawsuits and should be strongly considered by bitcoiners with large bags. 

#Bitcoin #BitcoinTaxes #ProtectYourBitcoin


⏰ Time Stamps

00:00 Introduction
1:45 High Networth Individual Questions
3:20 How Is Bitcoin Taxed?
6:30 Where To Store Your Bitcoin
8:44 Cold Storage
10:50 Using Domestic Trusts
13:00 Spending Your Bitcoin Abroad
17:00 Taxable Event
19:22 Wild Wild West = Crypto
22:00 Manipulating The Money Supply
24:00 Bitcoin Maximalism 
26:00 Dirty Fiat
29:00 Bitcoin As A Store of Value
32:15 Money Printer Go Brrrrr
34:50 Chiese Capital Flight
36:00 Bitcoin Best Asset Class
39:00 Trading In n Out Of The Market
40:00 Bitcoins Future Value
42:00 The Name of The Game is "More Bitcoin."

#bitcoin #bitcointaxes #taxlaw

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