$17K in Tax Debt on Crypto Gains

Don’t be like me and make a lot of money in crypto and not have a plan for the taxes.

Photo by melanie gabbi on Unsplash

In 2021, I made over $150K in crypto profits and owed $17,210 in taxes. I knew I would have to pay taxes on the gains, so I set some of the earnings aside. But I didn’t have a good plan for where to hold those funds. Instead of liquidating the cryptocurrency…