Bitcoin Taxes & Estate Planning

Filing taxes on bitcoin losses, gains, and any bitcoin earned income is necessary to avoid additional taxes or penalties by the IRS. Different bitcoin activities create different taxable events.

Bitcoin investors looking to pass their wealth on to future generations, while keeping their bitcoin private and secure, should consider investing bitcoin in a trust.

Family offices prioritize preserving, growing, and distributing their wealth over time. Investing in Bitcoin can assist family offices in meeting their investment goals and priorities.

Adding Bitcoin to an individual retirement account can be beneficial for investors who want to diversify and can tolerate volatility. Investors should be aware of the different types of retirement accounts and the fees associated with them.

Thousands of Bitcoin have been removed from circulation after the death of the owner, due to an inability to recover their assets. Proper planning can reduce the risk of your Bitcoin investment being lost.

Bitcoin is legal in the United States. The IRS considers bitcoin property, the CFTC considers bitcoin to be a commodity, and the SEC does not consider bitcoin to be a security.

Bitcoin is a uniquely seizure-resistant type of property. There is no amount of physical force or legal coercion that can transfer bitcoin from one party to another without the corresponding private keys.

A 401(k) is a company-sponsored retirement savings account that may be funded with net or gross income and is accessible upon the employee's 59 ½ birthday.

An individual retirement account (IRA) is a tax-advantaged investment vehicle allowing individuals to contribute a limited amount to their retirement savings each year. IRAs may be funded with net or gross income.

A Limited Liability Company (LLC) is a flexible and attractive business structure to store assets and manage risk. Using an LLC to invest in bitcoin requires careful planning and consideration on behalf of the founding members.