Show notes
This week Austin and Jesse talk Crypto Taxes with Crypto Tax Expert Miles Brooks from CryptoTrader .Tax who is going to full you a full review! Miles is going to give us everything you need to know about crypto taxes so you can file your taxes with peace of mind. MacNCheeasy and Jesse Friedland break down this crypto topic so anyone can understand in THIS WEEKS episode of The New Normal. NEW EPISODES EVERY TUESDAY. 20% DISCOUNT FOR COIN LEDGER: https://cryptotrader.tax/?fpr=the-incubator62Join our FREE Incubator Discord Here ⬇️https://discord.gg/fvMHvZ46bEOur Guest:@MilesBrooksTax ( https://twitter.com/MilesBrooksTax )Your Hosts:@JesseFriedland (https://twitter.com/JesseFriedland)@MacNCheeasy (https://twitter.com/MacNCheeasy) Timestamps: 00:00 – Intro 02:30 - A little about Miles Brooks 05:25 – What’s it like dealing with big clients? 07:45 – How does the IRS view crypto assets? 10:42 – NFTs: what are the tax implications? 18:00 – What happens when you burn an NFT to receive another? 20:48 – What about rug pulls? 33:38 – When a rug pull becomes a gift 36:03 – How do staking benefits get taxed? 48:25 – How wrap conversions work 54:36 – How far back can the IRS go? 57:13 – Closing thoughts