USA Cryptocurrency investor pays no tax on gains (Legally!)
Just starting on steemit and thought I would introduce myself. Got the cryptocurrency bug a little over a month ago (October 24th). Started buying, BTC, LTC, ETH, and GBTC (through my USAA brokerage account). I have the advantage of having moved to Puerto Rico in January and just evacuated before Maria (Now floating around the USA). The advantage to Puerto Rico from an investor perspective is, ACT 22 Tax Incentive.
http://puertoricotaxincentives.com/act-22-individual-investors-act/
So I can enjoy the nice melt up in Bitcoin value, report the gains on my taxes and pay 0%. Not my original reason for moving to PR (I also run an eCommerce business with similar tax benefits), but synergistic with cryptocurrency investing.
Just something to think about if you worry about paying Uncle Sam a big chunk of change and have the flexibility to relocate to a caribbean island and want to stay a US citizen.
Can you share more details on what is ACT 22 incentive?
Congratulations @cryptosailor! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPThankfully I am already in Puerto Rico and investing in Cryptocurrency for almost 7 months now. I lived in PR since 2001.