Inside the Crypto Bullseye Zone

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Anchor Your Crypto Ship in the IRS Safe Harbor crypto strategy crypto tax

Here are some final thoughts on IRS Rev. Proc. 2024-28 while you anchor for the holidays. The IRS introduced transitional guidance to help taxpayers shift from universal method of tracking and calculating gains and losses to wallet by wallet method before January 1, 2025. This is a little bit like t...

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Don't Get Tax Rekt: Sail Your Crypto Ship into IRS Safe Harbor Before the December 31, 2024 Deadline crypto strategy crypto tax

Sail your crypto ship into the “safe harbor” or get rekt at sea. That’s the metaphor for the ONE-TIME cost basis exercise for US taxpayers that MUST be completed by December 31, 2024. I suspect a majority of taxpayers will miss this boat entirely because they didn’t get the message or don’t understa...

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How to Avoid Capital Gains Tax on Cryptocurrency crypto strategy crypto tax

Strategies to avoid crypto capital gains

Everyone wants to know how to avoid capital gains tax on cryptocurrency. The magic is in the strategy and the mindset rather than “tax loopholes.” There are a few standard ways to avoid the tax, but crypto offers a cornucopia of returns and therefore differe...

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Airdrops are a Key Benefit of Investing in Cryptocurrency: Make $9,321 in 47 MINUTES Testing Crypto Apps crypto strategy

Crypto is the goose and airdrops are golden eggs

Airdrops may be the greatest crypto strategy invented and one of several key benefits of investing in cryptocurrency. There is no better feeling than getting free money for doing things you already do in crypto.

Money does fall from the sky and mone...

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About Crypto Bullseye

About Kirk David Phillips, CPA, CMA, CFE, CBP

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