Summary: You\u2019ve made money in crypto and managed to sell it for a profit; however, there is still an important question to answer. What are the strategies for minimizing tax burden with crypto, and can you use the losses to offset other gains? Micah Fraim, a bestselling author and CPA of an accounting firm, comes on the show to explain how you can lower your crypto taxes by the legal means available. Many people don\u2019t understand this component when investing in digital assets, and Micah\u2019s mission is to help people successfully manage these new age investments. Tune in for more insight. Highlights: -If you\u2019ve made money in crypto and you managed to sell it for a profit, you have to figure out strategies for minimizing tax burden with crypto, or try and use the losses to offset other gains -The average crypto investor has three main categories of income (i.e. trading, capital gains, staking income) -If you\u2019re trading and holding for more than a year, you get the same treatment as long term capital gains -With crypto, you can sell your whole portfolio and buy it back, but you realize the loss -After 30 days you can buy a stock back but with crypto you don\u2019t have to worry about waiting -The IRS has only issued guidance on five or six things in crypto -With the things that are ubiquitous, there is no guidance -Your duty as a citizen is to minimize your taxable incomes through whatever legal means are available -It\u2019s going to take multiple iterations of regulations to close the loopholes/gray areas that exist right now -Micah bought some crypto back in 2017. When the market recovered, Micah got involved in a project with cryptocurrency, and realized that no one understood the tax side of digital assets Useful Links: Financial Survival Network Fraim, Cawley & Company, CPAs