Crypto Tax Made Easy
@CryptoTaxSucks
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We've saved clients $21.8MM in crypto tax (and counting) Daily content to help you save, too. Want a free review of your crypto tax to see if we can help?👇
Joined October 2022
Did this SEC statement just make liquid staking tax free?. I've had more than one person ask me about this. 🧵So I've got good news and bad news 👇
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First thing I asked GPT-5 to do was write me a script to tell Amazon's X-ray to stfu while watching a movie. One shot. But I wonder what it thinks about me now?.
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I didn’t manage to get my allocation in the presale. And it shows.
The $PORTALS presale sold out in 11 seconds. And the tax outcome for buyers is very different from most launches. 🧵Here’s why 👇.
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RT @CryptoTaxSucks: The $PORTALS presale sold out in 11 seconds. And the tax outcome for buyers is very different from most launches. 🧵He….
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Bookmark this post in case you need to remember how presales are taxed. And follow @CryptoTaxSucks to know how to keep the taxman from eating your bags.
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So for $PORTALS presale buyers:. âś…No income tax at TGE.âś…Flexibility to hold long term.âś…Gains taxed when you sell. A small but powerful structural difference = huge win for holders.
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So what if a paper handed presaler sells?. Buy $15k in presale. Sell at 2x for $30k. Proceeds: $30k.-Cost basis: $15k.=$15k short-term capital gain. In most countries we cover, that’s taxed at your income tax rate.
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Last cycle, when presales sold out this fast, opening price action was often bullish. Why?. Everyone who missed out in presale rushes to buy at launch.
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The one caveat:. If you bought your SOL much lower and used it for the presale, you may have a capital gains bill on that contribution. If you top blasted SOL…you’ve actually locked in a capital loss. Bonus W.
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With this presale, participants aren’t taxed when they receive their tokens at TGE. Instead, they’re taxed when they sell. That means long-term holders can actually hold… . Without having to dump a slice on day one for tax.
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That “paid” part matters for taxes. In many countries, airdrops are taxed as income the moment you receive them. That can force people to sell part of their stack just to cover the tax bill. That’s bearish for price action.
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What made it special wasn’t just speed. NFT holders and the most bullish community members were vetted for the whitelist. This was almost like a bonus airdrop for the most committed holders . Except they paid for it. And this is GOOD.
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The presale was 7M tokens at $0.09 each. Total supply is 1B → $90M FDV. It sold out in 11 seconds flat.
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Portals is like an onchain Roblox x Virtuals. They already have real revenue. Their NFT collection is the 2nd largest by market cap on Solana. And their community? Diehard.
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The $PORTALS presale sold out in 11 seconds. And the tax outcome for buyers is very different from most launches. 🧵Here’s why 👇.
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You guys will really trust anything an account with a whale pfp says, huh?.
It's hilarious how many accounts just recycle headlines with factual errors. I’ve seen 5 viral posts claim $12.5T can now invest in crypto. That’s wrong. The real number is about $8.7T. They confused all employer retirement plans with 401ks which is the only thing the.
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RT @CryptoTaxSucks: It's hilarious how many accounts just recycle headlines with factual errors. I’ve seen 5 viral posts claim $12.5T can….
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RT @CryptoTaxSucks: Did your grandpa just become our exit liquidity?. The headlines say you can invest in crypto with your 401k. But that'….
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It's hilarious how many accounts just recycle headlines with factual errors. I’ve seen 5 viral posts claim $12.5T can now invest in crypto. That’s wrong. The real number is about $8.7T. They confused all employer retirement plans with 401ks which is the only thing the.
Did your grandpa just become our exit liquidity?. The headlines say you can invest in crypto with your 401k. But that's not the full story. So are we going to see some of that $8.7 TRILLION in investments flow to crypto?. 🧵Here's what I learned 👇
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Most headlines made it sound like BTC is already in your 401k. It’s not. If you know someone who thinks they can buy Bitcoin in their 401k tomorrow, share this thread with them. And follow @CryptoTaxSucks for the truth (and the tax angles) behind the headlines.
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So yeah - you want find BTC in your 401k tomorrow. But if crypto makes it into 401ks the steady inflows could be a monster bid for our bags. What I find most bullish about this executive order is that it signals the US government is still pro-crypto.
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