Texas Has Always Been a Pioneering State #
The Dallas-Fort Worth metro is no exception.
2.9 million households. Median income of $86,000. And about 14% of households earning over $200k, which works out to around 406,000 households. That’s a lot of wealthy families in one metro.
The Texas advantage shows up in Tax Planning. No state income tax means more flexibility in how you structure things. But it doesn’t mean crypto is simple.
DFW’s Crypto Growth #
Dallas-Fort Worth isn’t the first place people think of for crypto. Austin gets more attention. But DFW has its own tech scene growing fast, plus a ton of finance, Real Estate, and energy money that’s been moving into digital assets.
Crypto ownership here tracks close to the national average, around 28-30%. Among high earners, it’s probably higher. Self-directed investors who handle their own portfolios tend to be drawn to crypto’s independence from traditional financial systems.
About 187,000 households in DFW earning over $200k don’t have a financial advisor. Apply what we know about crypto ownership rates, and a significant chunk of them are holding digital assets without professional guidance.
The Texas Tax Trap for Crypto Holders #
People move to Texas for the tax benefits. No state income tax. That’s real money, especially for high earners.
But crypto can mess up your tax picture in ways that offset those savings if you’re not careful.
Every trade is a taxable event at the federal level. Short-term gains get taxed as ordinary income. If you’ve been actively trading, Staking, or using DeFi, you might owe more than you expected. And the IRS has gotten serious about enforcement. They’ve issued John Doe summons to exchanges. They’ve added crypto questions to tax forms.
Texas not having state income tax doesn’t mean crypto is tax-free. It means you need to be smarter about federal Tax Planning.
Tracking cost basis across multiple exchanges and wallets is tedious but necessary. Knowing which lots to sell for tax-loss harvesting requires planning. Understanding how Staking rewards and airdrops get taxed prevents surprises.
Finding the Right Digital Asset Advisor #
Texans like to do business with other Texans. That makes sense for a lot of services. For crypto advisory, it’s less important.
The advisors who really understand digital assets have clients everywhere. They’ve built remote practices because crypto itself is everywhere. Your Bitcoin doesn’t know you’re in Frisco or Fort Worth.
Remote advisory relationships give you:
- Access to specialists who focus on crypto, not generalists who added it to their brochure
- Secure communications that protect your financial information
- Flexibility to meet when it works for your schedule
- No drive time in DFW traffic
What matters is whether your advisor can handle the specifics. Can they track cost basis across Coinbase, Kraken, and various DeFi protocols? Do they understand how to coordinate crypto strategy with other investments? Can they help with Custody and Estate Planning for digital assets?
Getting Help With Crypto Wealth Management #
Digital Wealth Partners works with crypto holders remotely. If you’re in DFW with significant Digital Asset holdings, they focus on exactly this kind of situation. Check them out at digitalwealthpartners.net.
Those 187,000 high-income households without advisors include a lot of people who think they’ve got it covered. Some do. Many are missing tax savings or building up risk they don’t see.
