Asset Transfers & Tax Planning
- Is the first $5,000 of LLC formation costs tax deductible, and what other professional fees can be written off?
- What specific expenses can I write off through my digital asset LLC (hardware wallets, security devices, trading software, subscriptions, conferences, home office, portion of utilities/insurance, vehicles over 6,000 lbs under Section 179)?
- How do DeFi activities, airdrops, yield farming, and liquidity pools get taxed, and what software helps track these complex transactions?
- Does every crypto-to-crypto swap trigger a tax event?
- Should I set up the LLC now or wait until after my assets appreciate in value? What are the risks of waiting?
- How do I transfer digital assets from personal wallets, exchanges, or retirement accounts (IRAs, 401ks) into an LLC or trust without triggering taxable events?