How will NFTs affect your tax return this year? How will you get your taxes organised for next year and how do you avoid costly mistakes and help yourself save money with your NFT Taxes?
In this video, for anyone who has bought even just one NFT in the last year and is based in the UK, you need to know where you stand in terms of your nft tax 2022 but also in terms of cryptocurrency tax and what you need to do to pay tax on NFTS. So if you want to avoid tax on cryptocurrency and need crypto tax explained then this video should help. It's got great nft tips for beginners and more established buyers in the space as well.
I've teamed up with CPA Kate Waltman who has deep dived into the biggest questions and queries the NFT community has around NFT and Crypto Tax. If you want to know what the Tax Rules are how to do your NFT taxes and what they best Crypto Tax strategy is for you, then you'll want to watch all these tips to help avoid those crypto mistakes.
To find out more about how to get tax advice for your NFT journey, you can contact Kate via:
Twitter: / kpwaltman
Website: www.taxeswithkate.com
CHAPTERS
00:00 Introduction
00:47 Do Brits need to pay tax on NFTs?
01:18 Diamond hands? Are you liable for tax if you hold your NFT?
02:04 Capital Gains Tax: The rate a UK tax payer will pay for NFTs
03:10 Exemptions: Where can you save money on your NFT purchase?
04:01 Airdrops and Giveaways: UK tax implications for receiving additional NFTs.
04:51 Gas Fees: can this be offset in your taxes?
06:20 Tax Planning: How to get organised for the year ahead.
DISCLAIMER: ** THIS IS NOT FINANCIAL OR LEGAL ADVICE ONLY OPINIONS OF MYSELF AND MY GUESTS. I AM NOT RESPONSIBLE FOR ANY INVESTMENT OR LEGAL DECISIONS YOU CHOOSE TO MAKE. ANYONE ENTERING INTO THE WORLD OF NFTS SHOULD DO SO CAUTIOUSLY AND ONLY BE WILLING TO SPEND WHAT THEY CAN AFFORD TO LOSE **
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Music courtesy of Boho Bones NFT https://opensea.io/collection/bohobones
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