#488 10 Crypto Loopholes The Rich Use To Get Richer
Main Street Business
Mark J Kohler and Mat Sorensen
4.8 • 584 Ratings
🗓️ 26 March 2024
⏱️ 34 minutes
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| 0:00.0 | Welcome back, everybody, to another episode of the Main Street Business Podcast. I'm here with |
| 0:06.7 | the amazing Matt Sorensen. We're talking about 10 crypto strategies the rich are using to protect their |
| 0:12.2 | crypto strategy, to make more money, to save taxes, and build wealth. These are the real strategies |
| 0:18.1 | we've been actually implementing with clients who have invested over $100 million. |
| 0:22.3 | And they're doing this to keep more money in their pocket and grow their crypto portfolio. |
| 0:26.4 | There's a lot of information out there about how to make money in crypto. |
| 0:28.8 | In fact, there's a lot of misinformation or too much information about this. |
| 0:32.5 | But this is the legit strategies for real lawyers, helping real clients. |
| 0:36.1 | These are the strategies you need to know |
| 0:37.7 | and need to be implementing to grow and expand your crypto portfolio and keep more money in your |
| 0:42.2 | pocket. Now, these are the types of things you're not going to find out there on the web with |
| 0:46.3 | all of the background and additional information you need because the tax lawyers and the tax |
| 0:50.7 | professionals that specialize this are not sharing their strategies on the web. We're going to share them here. But once you understand them, now you can captain your ship. You can find the right professional tailored to your set of circumstances, facts, situation, and you're off to the races. Now, Mark and our business and tax lawyers, we're also crypto investors ourselves, but we have a trust company with $1.7 billion in assets. We have a law firm that's nationwide helping clients across the country who are also investing in crypto. So we've got the strategies. We've actually implemented and done this stuff. We're going to get into the details here. Let's dive into it and we're going to work backwards. We're going to do a little David Letterman, a little ESPN sports center. We're going to go from 10 to number one. |
| 1:27.9 | Now on our list, number 10, and this is, again, a strategy. |
| 1:32.6 | We've learned over both of us doing over 10,000 consultations, let alone our team that's |
| 1:37.6 | meeting with clients every day and when we're collaborating. |
| 1:40.3 | We've got our network of CPAs and enrolled agents around the country, our tax pros. |
| 1:44.0 | We've got our ears to the ground here, I guess what you say. We're really trying to learn anything that's out there. So we're going to kick off number 10, may I? Yes. With the asset protection piece, often overlooked. Now, you may think, oh, you're talking hard wallet or where do I put my keys? No, no, no, no. I'm talking about you texting and driving tomorrow and getting in a lawsuit. You may be old enough to have teenage drivers. You might have a risky lifestyle or other business. I don't know. But if you have the potential to get into a lawsuit, and frankly, if you live in America and drive a car, welcome to the club. You get in a lawsuit, |
| 2:18.0 | they can go after your crypto wallets. Well, they won't find them. Really? I thought we thought |
| 2:23.5 | this was a blockchain technology that everybody could see. Well, that works for the plaintiffs, |
| 2:28.4 | too. Because when they come after you, when you blow through that crosswalk and kill some kid, |
| 2:32.3 | they're going to under penalties of perjury and discovery and interrogatories and all the things that happen some kid, they're going to under penalties of perjury |
... |
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