I've been mining Crypto for a few months but need some help expanding and creating it into a business to reduce taxes. Does anyone have experience in the field that could share some of their knowledge
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As a CPA, I ask why? As an investment you have lower tax rates. Do you have the capital to scale to a large operation that would be mining? Once the year 2025 comes, or perhaps sooner, you will be able to write off investment expenses again.
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Hi Jacob,
Thank you for your question! To aid in your search and expand your network, I highly recommend utilizing our Community tab to look for professionals in the Crypto industry - feel free to reach out to any of those professionals directly! It may help with making some contacts and gaining advice as you look to advance in the industry.
You may find these articles helpful:
https://freemanlaw.com/mining-explained-a-detailed-guide-on-how-cryptocurrency-mining-works/
https://freemanlaw.com/taxation-of-crypto-mining/
I hope these are helpful!
Best,
Julian
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