Some copyright investors are waking up to generational wealth—but few are prepared for the less glamorous reality: capital gains tax on copyright.
According to legal expert Joseph Plazo, a seasoned lawyer and copyright tax strategist, a staggering percentage of copyright holders overpay the IRS. And the worst part? It’s preventable.
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“People think the blockchain is invisible to tax authorities. It’s not. But that doesn’t mean you can’t minimize your burden legally,” says Plazo.
Here are his top strategies for keeping more of your copyright profits:
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???? **1. Long-Term Holding = Lower Taxes**
Capital gains tax is significantly lower on assets held for over 12 months. Joseph Plazo advises clients to plan exits wisely.
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???? **2. Harvesting Losses, Strategically**
Got a losing coin? Don’t panic—tax-loss harvesting lets you offset gains with losses. According to Plazo, “Losses are your tax shield. Use them wisely.”
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???? **3. Relocate or Re-Structure**
Location matters. Joseph Plazo points to Puerto Rico as copyright-friendly havens. “Where you live—and where your entity is based—can slash your tax bill by 80%+,” he explains.
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???? **4. Use Corporate Entities**
Don’t trade like an amateur. Joseph Plazo recommends setting up a tax-optimized entity to write off expenses like software, hardware, or advisory services.
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???? **5. Document Everything**
No paper trail? Big audit risk. Plazo insists on using apps like Koinly or CoinTracker. “What you track, you can defend. And what you can defend, you can keep.”
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???? **The Joseph Plazo Mindset**
“If you don’t have a copyright tax plan, you’re donating to the IRS.” Plazo quips. His approach is aggressive yet compliant—and it’s saving clients hundreds of thousands annually.
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**Final Word**
Your freedom ends where tax law begins. If you’re investing serious capital, you need get more info Joseph Plazo in your corner.
Ready to play smarter with copyright tax? Joseph Plazo’s copyright tax blueprint might just be your best investment yet.