Ripple Coin Rates 2018 – How to Avoid Extra Taxes USA 2018

Ripple Coin Rates 2018

This article is a guide and suggestion from an expert on what investors need to know about how the Tax Cuts and Jobs Act could affect your capital gains taxes.

As the cryptocurrency market continues to sour high 2018, with slight Sky Rocking of the coin, those residents in high-taxed countries like the United State must understand how they need to trade Ripple to avoid Extra Taxes USA 2018 When the Ripple coin would have Skyrocket.U.S. citizens who are intending to dive into or are already a big shareholder in the Ripple Markets. Paulyjay shared this on Cryptocompare, saying it’s important you make sure that you HODL for at least 1 year before cashing out on gains! That’s the difference between paying 39.6% vs. 20% in taxes for some.

Ripple Coin Rates 2018

Short-term capital gains (1 year or less) are subject to 2x+ the amount of taxes you have to pay for property gains (cryptos are seen as property, not currency by the government!). If you want to sell your coins and run with the money, you are are better off just waiting 1 year and 1 day to save yourself literally HALF the amount of taxes you would be liable for since it would now be seen as a Long-term capital gain.

Ripple Coin Rates 2018

This also varies by your income – some of us won’t even have to pay any taxes (even if you make millions from this!), while others do.

HAVE YOU HEARD? – MAVRO Cryptocurrency Coin

Here’s an article with charts that’ll accurately show you what tax rate you’d pay based on your income under the Tax Cuts and Jobs Act:

Congress recently passed the Tax Cuts and Jobs Act, so it appears that sweeping tax changes are set to go into effect in 2018. While the bill makes a number of changes to our individual tax code, one concern to investors is the capital gains tax. Here’s a rundown of the capital gains tax structure for 2018, and how you could be affected. Ripple Coin Rates 2018

How it could affect your short-term capital gains tax [ FOOL.COM ] Ripple Coin Rates 2018

For example, let’s say you’re single and have taxable income of $50,000 per year. If you buy a stock and sell it a couple of months later for a $2,000 profit, you would have to pay tax at a rate of 25% under the previous tax brackets, while the new tax brackets give you a lower 22% marginal tax rate. This would result in tax savings on your stock sale of $60.

The Foolish bottom line – Ripple Coin Rates 2018

While nothing significant changed in the capital gains tax structure, or in the long-term capital gains tax rates, your 2018 short-term capital gains tax could change because of the new tax brackets. Generally, lower marginal tax rates and different income thresholds for most tax brackets combine to produce a potential short-term capital gains tax cut for many Americans. Ripple Coin Rates 2018

But don’t just take my word for it, when that time does come when XRP skyrockets and we are satisfied enough to sell some/all to profit – you’re better off getting a CPA (and maybe even one who specializes in cryptos) before taking your money out. It’ll be 100% worth it: they will save you thousands (or millions, dream BIG!) and you can sleep at night knowing that the IRS won’t come after you years later for unpaid taxes, and you won’t get screwed over paying more than you are responsible for. Ripple Coin Rates 2018

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Ripple Coin Rates 2018

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