The IRS vs. Bitcoin

Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business

The Rich Dad Company

Entrepreneurship, Business, Investing

4.1 • 3.9K Ratings

🗓️ 31 March 2021

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

If you sold, mined, or traded cryptocurrencies in 2020, then this episode is for you! Tom Wheelwright, Rich Dad Advisor on Taxes, warns listeners as they prepare for filing taxes this year, “Anytime you use or trade your virtual currency, that’s a taxable event.”
But what does trade mean, exactly? According to Tom, if you did anything other than just buy it, then you have to declare it—if you don’t it’s a felony.
In addition to the tax rules of cryptocurrencies, Tom and Robert discuss opportunities to pay less taxes on other commodities like gold, silver, oil, and solar. And as Tom predicts, Green Energy investors will be rewarded with incentives in the near future because every government wants cheaper energy.
Host Robert Kiyosaki and guest Tom Wheelwright discuss what changes are happening for gold, silver & Bitcoin, and how you can pay less taxes, legally.
To learn more about the IRS Tax code on cryptocurrencies, visit: www.wealthability.com
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Transcript

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0:00.0	Don't Be Like Charlie.
0:03.0	Charlie is that do it yourself or who does himself in.
0:06.6	Do it yourself is good for tile and grout.
0:09.2	It is not good for asset protection.
0:11.8	Charlie thought he'd save a few dollars forming his LLC online.
0:15.8	With no guidance, he did it wrong.
0:18.0	When he sold the property, he lost thousands and thousands of dollars.
0:21.8	He did himself in by trying to do it himself.
0:24.9	Don't burn yourself.
0:26.5	His corporate direct to set up and maintain your LLCs and corporations.
0:31.3	Corporate direct is owned and operated by attorney and rich dad advisor Garrett Sutton.
0:36.5	Garrett wrote the best seller's loopholes of real estate and start your own corporation.
0:41.0	He is Robert Kiyosaki's attorney for asset protection.
0:44.4	He and his team will do it right.
0:46.5	Visit them at corporatedirect.com or call 800-600-1760.
0:52.1	Don't you want to change in rich dad and receive $100 off your formation fee?
0:59.1	That's corporatedirect.com.
1:02.1	Did you hear about rich dad's new podcast Malayamani?
1:05.1	Don't you want the truth about money and not just the lies and media selling you?
1:09.1	Don't you want to control your own future?
1:12.1	Then join me, Alexandra Gonzalez-Gonesa, as I interview the number one personal finance
1:17.1	author in the world.
	...

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