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.