Are you a crypto investor concerned about how your digital asset investments will impact your tax bill? Gordon Law Partner Tax Attorney & CPA Andrew Gordon joins Wealth to provide guidance on cryptocurrency tax implications.
“Crypto investing is unlike investing in any other stock or security,” Gordon states. He emphasizes that unlike traditional investments, tax reports aren’t automatically generated for cryptocurrency transactions. Instead, the responsibility falls on individual crypto traders to report their activities, warning that “if you don’t report properly you could have severe penalties or even worse.”
Gordon highlights crypto donations as one potential tax reduction strategy. He explains that investors who realize capital gains on their cryptocurrency investments can donate a portion to charity, receiving a deduction that could significantly reduce their tax bill.
For a detailed explanation of the new cryptocurrency regulations taking effect in 2025, and their tax implications, watch the full interview above with Gordon Law Partner Tax Attorney & CPA Andrew Gordon.
To watch more expert insights and analysis on the latest market action, check out more Wealth here.
This post was written by Angel Smith
