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Strategies to legally reduce taxes after selling XRP


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3 hours ago, RobertHarpool said:

I'm not 100% sure what you mean.  

But, an IRA can be managed in one of 3 ways:

1. Managed IRA ... where you pick your level of risk and someone invests your money into a fund deemed at that level. 

2. Self Directed ... where you pick your own stocks and funds to invest in

3. Self Directed with Checkbook Privileges ... where you invest your own IRA money into whatever you wish ... crypto, neighbor's lemonade stand, grandmother's startup, whatever. (There are limits though....and it requires a custodian's oversight to make sure u adhere to those limits....i.e. u can't invest in your own startup ... Cheapest overseer I've found is about $1K) 

All 3 can get you to crypto in some form now days.

I apologize in advance if I missed the mark on your question ...

 

Yes, thanks... that's the high-level overview;  I was wondering if there were any specialist shops in the custody business who'd yet made a name for themselves or had some experience in the area.  I've experience with a number of SD IRA custodians from another "monetized hobby" a decade or two ago, but am not sure about crypto.

The "alternative investments" that I was attempting to do, back then, were totally foreign, experience-wise anyway, to many in the custody biz and it was a time-suck - ergo, wondering if anyone in the US had made any progress in that area for individual/retail investors (or, for that matter, if there were any specialist RIA's to ease pain).

Favorable tax treatment is nice, but dealing with people who have a clue and not wasting time is nice, too (and I'm aware that such experience may require a premium).

It may be that nobody is willing to yet go out on a limb wrt crypto custody (at least at the SD and/or retail retirement level), given regulatory uncertainty / lack of clarity.

But it sure would be nice... know what I mean? :)

Edited by NightJanitor
Spelling error - "cryTpo" - which is but one of the reasons I want someone good to do most of the paperwork part(s) for me!
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14 hours ago, NightJanitor said:

In the US, has anyone yet figured out a way to custody within a Roth IRA or a 401k?

iTrust Capital; however, they stopped transacting XRP when the SEC sued. I think they use Coinbase to actually custody their crypto assets. 

Edited by VanGogh
clarity
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Is it just me or do IRAs and 401ks come off as a kinda lazy man's excuse to get skimmed of by the gooberment and bankster friends?

Sure tax-free is nice but your capital is locked up for years and you have to trust someone else not to f*ck it up.

I mean you're essentially 'forcing'/enticing people to plow their fiat in to an IRA which is backed by a propped up stock market run by manipulation just to not be taxed by the government. 

It's such a circle j3rk handoff....

Gooberment IRS: Do this to help our Wall Street friends or we'll tax you anyway.

And for crypto-IRAs, why should the government get any 'cut'/advantage of our foresight for hodl'ing for years while taking all the risk? BS.

Edited by jetbrzzz
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4 minutes ago, jetbrzzz said:

Is it just me or do IRAs and 401ks come off as a kinda lazy man's excuse to get skimmed of by the gooberment and bankster friends?

Sure tax-free is nice but your capital is locked up for years and you have to trust someone else not to f*ck it up.

I mean you're essentially 'forcing'/enticing people to plow their fiat in to an IRA which is backed by a propped up stock market run by manipulation just to not be taxed by the government. 

It's such a circle j3rk handoff....

Gooberment IRS: Do this to help our Wall Street friends or we'll tax you anyway.

And for crypto-IRAs, why should the government get any 'cut'/advantage of our foresight for hodl'ing for years while taking all the risk? BS.

The IRS are nothing but pirates IMO. 

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