Bitcoin Billionaires Beware – Tom Wheelwright and Robert Kiyosaki on Bitcoin taxes
If you sold, mined, or traded cryptocurrencies in 2020, then this episode is for you! Tom Wheelwright, Rich Dad Advisor on Taxes, warns listeners as they prepare for filing taxes this year, “Anytime you use or trade your virtual currency, that’s a taxable event.”
But what does trade mean, exactly? According to Tom, if you did anything other than just buy it, then you have to declare it—if you don’t it’s a felony.
In addition to the tax rules of cryptocurrencies, Tom and Robert discuss opportunities to pay less taxes on other commodities like gold, silver, oil, and solar. And as Tom predicts, Green Energy investors will be rewarded with incentives in the near future because every government wants cheaper energy.
Host Robert Kiyosaki and guest Tom Wheelwright discuss what changes are happening for gold, silver & Bitcoin, and how you can pay less taxes, legally.
To learn more about the IRS Tax code on cryptocurrencies, visit:
Facebook: @RobertKiyosaki
Twitter: @TheRealKiyosaki
Instagram: @TheRealKiyosaki
32 comments
Black Beard April 8, 2021 10:03 am
Good video, What do you think about $SUB, $TRX, $PMA, $PPT, $XDN, $BDG, $BTT, $DGB, $EXM, $CRO, $MATIC, $CELR, $ARK, $RVN
Ruirodtube April 8, 2021 10:03 am
He keeps saying « capitalism is wonderful » but he’s actually taking advantage of CRONY capitalism, which is to bribe politicians to write laws that benefit the rich to the detriment of the not rich.
IT’S SOCIALISM FOR THE RICH!
America is a socialist country for the rich. Not paying taxes is the equivalent of subsidies. Rich receive handouts.
Kozmic Karma Koala April 8, 2021 10:03 am
Robert, GOD BLESS YOU SIR !!! Such a wonderful dispostion and SAGE ADVICE ! ~,;)<333
Frank justin April 8, 2021 10:03 am
The best way to build a higher net worth, BE like the rich people who invest in time When money realizes that it is in good hands it wants to stay and multiply in those hands investment today is a source of income tomorrow.
Abel Sanchez April 8, 2021 10:03 am
Thank you so much for this episode. I have listened to it twice and I plan on listening to it 10 more times. Thank you, thank you, thank you.
H Norman April 8, 2021 10:03 am
Work hard, save hard and then they tax you more.
Tazmania 77 April 8, 2021 10:03 am
I'm still confused about Bitcoin can someone put it simple speak? Yeah I know I'm slow.
Tyron Gibson April 8, 2021 10:03 am
“Don’t panic “
multiHappyHacker April 8, 2021 10:03 am
If you don't like Bitcoin having a public ledger then buy Monero and wait until everyone else realizes publicly available transactions aren't a good idea.
carlton robinson April 8, 2021 10:03 am
Gold is the real investment. Bitcoin is a farce like paper. They're pushing us to Crypto because they are hoarding Gold. Virtual Currency isn't real, hence its name.
Ganja Dub Woke April 8, 2021 10:03 am
Tom's a real cool dude. 😎👍🏻
Sam April 8, 2021 10:03 am
But taxation is theft
Robert M April 8, 2021 10:03 am
I heard Bitcoin is slow transaction and Litecoin is faster transaction. I have question what oil is a good investment.
AMERICA IS DEAD April 8, 2021 10:03 am
This isn't smart but it does smart us poor people that don't have asset portfolio's. it is laws like these that make the rich richer and the the poor still poor. This is not applicable for most people. What is stupid is to keep paying into a government that is a controlling lying son of a bitch giving it's rich friend's a break.
diego argueta April 8, 2021 10:03 am
move countries
Justin Thomas April 8, 2021 10:03 am
Time to open up a Panamanian Corporation that buys and sells BTC & ETH
Ron Burgandy April 8, 2021 10:03 am
This expisode is really simple to break down… You hold, trade with places like bybit (no kyc aml) and then just sell a chunk when you want a nice car, house , boat or whatever. Anything over 12 months in HODLing is the lowest tax bracket capital gains… And if you are in Germany, Singapore, Saudi Arabia and a bunch of other nations, then it's a ZERO capital gains tax bracket, because of different laws.
The US is simply way behind the 8 ball with taxation on a global scale.
Crypto Nursery April 8, 2021 10:03 am
bitcoin and cryptocurrencies are very trackable. every wallet and its transactions are printed on the blockchain for everyone to search and you cannot remove them. a common misconception of crypto.
Krishna Krishna April 8, 2021 10:03 am
"Bitcoin in roth ira" — That's fantastic..!!
Anthony Chatman April 8, 2021 10:03 am
OUR TAXES ALL GO TO CRIMINAL ACTS BY THE RICH
Anthony Chatman April 8, 2021 10:03 am
IF WE ALL STAND UP AND NOT BE COWARDS AND SAY NO TO TAXES UNLESS THEY TEACH US MORE OF IT WHICH THEY WILL TRY NOT TO SO THEY COULD MAKE ALL THE SMART MONEY MOVES
Phantasmagoria April 8, 2021 10:03 am
They are the criminals!
Angus Boy Channel April 8, 2021 10:03 am
You can use $80,000 Bitcoin tax free if you have it over a year.Long term capital gains stars after that.
Jaz Player April 8, 2021 10:03 am
ooowww a felony what a crazy world maybe its a felony to have fiat currency as well.
Susana Parra April 8, 2021 10:03 am
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James Musbach April 8, 2021 10:03 am
This guy is.. Clueless. BTC is China mined, used to launder illegal $$.. & trading is.. Shut down by July
stevoteo April 8, 2021 10:03 am
and that's why there is Monero
vad b April 8, 2021 10:03 am
Where do you buy your bitcoin and ETH-USD
Butter Bay Biscuits April 8, 2021 10:03 am
Tom's so good, the IRS pays HIM!
Butter Bay Biscuits April 8, 2021 10:03 am
Tom is with his weight in gold
Julio Samaniego April 8, 2021 10:03 am
How can I move to Puerto Rico so I don’t have to pay capital gain taxes?
Justin J April 8, 2021 10:03 am
I'll will enjoy watching the IRS get them on tax evasion.