We figured it out. Some genius came out with the idea. We will load a PDF with lifestyle stuff in random paid content.
This way if people don't care they don't have to read it. We want to focus on making money first.
The catch here is we won't listen to "arguments" against what is written. It's why we stopped back in the day as people would try to push back eventhough we knew they were wrong.
Reality is most have not seen the range from total poverty to wealth.
Social dynamics in America would be great. I remember when you guys actively discouraged people from buying Rolexes as flex symbols. Now, major Cities are crime ridden.
People don't think about these things. They don't even realize an apple watch (or even looking well put together) in the wrong place can make you a target of envy (thus violence).
Would be interested to read about how the social rules change as you move through the hierarchy from poor to rich.
Patrick - thanks for this post! Bridging the knowledge gap on taxation is so important, especially in crypto when Treasury can't keep up. People leave thousands on the table.
You mentioned loss harvesting & rebalancing. BowTied Tax wrote an article on this specifically for crypto. Hope it helps someone!
Patrick, do you have any advice for individuals that have ignorantly failed to report any crypto tax gains/losses since getting involved in 2020. Mostly capital gains 2020/2021 and now lot's of losses shaping up for 2022 to the point it will probably be net negative in USD value over the course of 3 years. I never took any money out of the crypto ecosystem back into USD so didn't think it was taxable but I'm obviously learning as I go. Heavy defi user and thousands upon thousands of transactions, just not sure where to begin. Would the losses from 22 offset the gains from previous years? Thanks in advance,
Thank you Patrick, good intro post. I'm a US citizen living in Europe which means double the ball-ache at tax reporting times. Koinly worked pretty well for me this year for both jurisdictions, mostly automated although it made some strange assumptions I had to go in and manually correct.
Would love another book from you guys!
Yes bumping this
We figured it out. Some genius came out with the idea. We will load a PDF with lifestyle stuff in random paid content.
This way if people don't care they don't have to read it. We want to focus on making money first.
The catch here is we won't listen to "arguments" against what is written. It's why we stopped back in the day as people would try to push back eventhough we knew they were wrong.
Reality is most have not seen the range from total poverty to wealth.
Social dynamics in America would be great. I remember when you guys actively discouraged people from buying Rolexes as flex symbols. Now, major Cities are crime ridden.
People don't think about these things. They don't even realize an apple watch (or even looking well put together) in the wrong place can make you a target of envy (thus violence).
Would be interested to read about how the social rules change as you move through the hierarchy from poor to rich.
+1 for the book
Patrick - thanks for this post! Bridging the knowledge gap on taxation is so important, especially in crypto when Treasury can't keep up. People leave thousands on the table.
You mentioned loss harvesting & rebalancing. BowTied Tax wrote an article on this specifically for crypto. Hope it helps someone!
https://bowtiedtax.com/2022/09/21/crypto-tax-loss-harvesting-wash-sales/
Nice to meet you! Not many of us around lol.
I've been waiting for new books since I first signed up for BTB. Do it!
Another book would be great.
Love to digest another book from u guys!
Patrick, do you have any advice for individuals that have ignorantly failed to report any crypto tax gains/losses since getting involved in 2020. Mostly capital gains 2020/2021 and now lot's of losses shaping up for 2022 to the point it will probably be net negative in USD value over the course of 3 years. I never took any money out of the crypto ecosystem back into USD so didn't think it was taxable but I'm obviously learning as I go. Heavy defi user and thousands upon thousands of transactions, just not sure where to begin. Would the losses from 22 offset the gains from previous years? Thanks in advance,
L
Thank you Patrick, good intro post. I'm a US citizen living in Europe which means double the ball-ache at tax reporting times. Koinly worked pretty well for me this year for both jurisdictions, mostly automated although it made some strange assumptions I had to go in and manually correct.