Bitcoin Billionaires Beware - Tom Wheelwright and Robert Kiyosaki on Bitcoin taxes
If you sold, mined, or traded cryptocurrencies in 2020, then this episode is for you! Tom Wheelwright, Rich Dad Advisor on Taxes, warns listeners as they prepare for filing taxes this year, “Anytime you use or trade your virtual currency, that’s a taxable event.”
But what does trade mean, exactly? According to Tom, if you did anything other than just buy it, then you have to declare it—if you don’t it’s a felony.
In addition to the tax rules of cryptocurrencies, Tom and Robert discuss opportunities to pay less taxes on other commodities like gold, silver, oil, and solar. And as Tom predicts, Green Energy investors will be rewarded with incentives in the near future because every government wants cheaper energy.
Host Robert Kiyosaki and guest Tom Wheelwright discuss what changes are happening for gold, silver & Bitcoin, and how you can pay less taxes, legally.
Want to learn more about Bitcoin and cryptocurrencies? Go where Robert goes and head to https://study.richdad.com/MONTHLY-MEMBERSHIP-OFFER where you can hear expert Jeff Wang teach crypto investing and opportunities.
To learn more about the IRS Tax code on cryptocurrencies, visit: https://wealthability.com/blog..../irs-explains-how-it