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Insights That Preserve Wealth & Reduce Taxes

Welcome to the Chainwise Insights Blogโ€”your resource for navigating the complexities of wealth, tax, and financial strategy with clarity and confidence.

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June 25, 2024

Some NFTs May Soon Be Considered Collectibles

In this blog post, we will explore the key aspects of this notice and what it means for NFT holders.

June 25, 2024

Tax Consequence of Crypto Loans

More and more crypto exchanges, such as Coinbase, Binance, BlockFi, and Nexo.com offer crypto loans. You can borrow money at an interest rate usually much lower than what you would have to pay to a bank for personal loans, by using some of your cryptocurrency as collateral.

June 25, 2024

Understanding IRS Guidelines on Charitable Contributions of Cryptocurrency

Recently, the cryptocurrency space has grown exponentially, with digital assets becoming a significant part of the financial landscape. As this new financial realm continues to evolve, so does the need for clear tax guidance on various aspects of cryptocurrency transactions.

June 25, 2024

The Tax Impact of This Yearโ€™s Platform and Protocol Failures

Letโ€™s examine two of the more significant events to occur this year: the Celsius Network bankruptcy and the failure of Terra and its cryptocurrency LUNA, and discuss the potential tax implications of each.Letโ€™s examine two of the more significant events to occur this year: the Celsius Network bankruptcy and the failure of Terra and its cryptocurrency LUNA, and discuss the potential tax implications of each.

June 25, 2024

Two new crypto tax provisions to know

Relevant to crypto investors are the Infrastructure Bill which is currently sitting in the House of Representatives, and two bills aimed at retirement: the Securing a Strong Retirement Act in the House and the Retirement Security and Savings Act in the Senate.

June 25, 2024

The Jarretts Didnโ€™t Break Any Ground for Stakers

Crypto channels on social media erupted jubilantly in celebration of the fact that staking income is no longer taxable. They were wrong.

June 14, 2024

Demystifying the Bidensโ€™ S Corp Compensation: A Look at Reasonable Salaries for S Corp Owners

In this blog post, weโ€™ll examine the concept of reasonable compensation for S corp owners and guide them on how to stay compliant.

June 14, 2024

Crypto Asset Inheritance Plan

For crypto investors who want to pass their crypto assets to the next generation, there are some unique challenges they need to consider, in addition to the measures they need to take for developing an inheritance plan for their traditional assets.ย 

June 14, 2024

Can You Avoid Paying Your Crypto Taxes Legally?

Many people wonder how the rich can get away without paying their taxes, legally speaking of course. But what they fail to realize is that most of the billionaires and giant corporations โ€œavoidingโ€ taxes still file annually and work with a CPA.

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