I opened an LLC (Digital Asset Consultancy Association) That has a digital wallet. I then Purchase consulting hours from the LLC and pay with My Xrp, Xdc, etc.
I think it would be far more effective to utilize business/commerce /financial terms. Folks have to get used to these term in order to understand this environment. Cannot go around talking about my toys in a box. I have my assets in a trust/LLC. Great job but keep it real.
Lewis, Thank you for making great crypto content. I’ve been a member since your early days! - I continue to learn a lot from all your deep dives. I have a handicapped daughter who needs constant care which leaves me little time to investigate and learn on my own. Keep up the great work!
"You" don't need to own any of it. The LLC owns it and can purchase whatever it is such as an investment property. Look into a "spendthrift" trust as well.
Hey Lewis, always appreciate your videos. I’m confused, although this seems like a great alternative idea I thought the best idea was use these digital assets in our wallets as collateral. Borrow a percentage, get a loan off that percentage. The loan is not taxed and the balance of the other digital assets pay off the loan. You even talked about that in one of your videos before. What has made you decide to change that method to the safe agreement??
Hi Lewis, 🙏🏼 Can you dive a bit more into the basics of being the manager of your own high net worth wealth? For example (I’m just assuming these are some of things): -“Topics” that must be studied -“wealth team members” who will be needed -Documents management and protection … We all know the mechanics of being in that position are clearly veiled from the everyday awareness of the masses. Thank you in advance. 🙂
Thanks Lewis. Great advice as usual. I've been waiting for this from you for 6-9months since you mentioned that you were looking at how to manage your crypto.
I'm sorry, I really didn't understand the analogy of the toys and the toy box. All I got is that you need an accountant and a solicitor to explain these to you.
The obsession with avoiding tax from people involved in crypto baffles me. If we all become wealthier why would we not be happier to pay more tax? It would pay for better healthcare, education, infrastructure and ultimately a fairer and better society.
Just a little tip... when sitting in a room with bare walls, you have to adjust the sound. Its killing my ears 😅 I appreciate your work for xrp holders!
One thing I’ve noticed is people throw around “talk to your accountant or professional” none of em know crypto! I’ve talked to five and they all have different takes! It’s insanity. I’m signing up with claver
Ok Lewis ur goin to have to explain what the benefits of setting up a limited company are...Corporation tax is 25%...Capital Gains is 20%...Why bother set up the limited company?
Excellent content. Need some more of these videos!!! Im sure we are all in the process of setting up our “estate” and knowledge before hand is key for future stress free growth!
Hi Lewis, would you be willing to pass over the details for your lawyer and who ever else involved to get this set up? Not many lawyers are clued up with crypto and the terms so would be better to use one with some sort of idea 👌 I'd be grateful for that information 👍
I see that it possible to get 100% CGT relief using "Entrepreneurs Relief " if you own more than 25% of the assets? Is this true? I would share the article link but presumably that would be deleted
Not if but when it will pump it. Then i will go to tax accountant. And ask. Because we dont pay tax because nobody knows how many i have plus i do not sold them. So there is no need to rush :)
Now try one for the adults in the room. Movement of digital assets into a financial structure to limit risk and ensure taxation obligations, with a structure that works for the future. Determining the utility of the structure with options and obligations in mind. Whilst this is big picture thinking, slight delusion of grandeur at sub fifty cents a share. But I see the movement in the market. 2023-2025-2030…..
What if I just want my cash? I'm not materialistic. I just want my cash to buy precious metals. And have some cash to buy me a farm and move off grid. Maybe a pickup truck. Thats it. I don't want more. How do I just get the cash and dodge the tax.
Can you expand upon this, why did you chose this option instead holding as a individual and relocating abroad? Or does the option you opted for still allow that? I could happily live in Dubai for 3 months for example.
Lewis you should get a license to be a broker, tax agent, consultant and just be the community broker for a fee, and you can offer different products, risk assesments, legal advisory and consultations. Many things are changing with regulations and only a few know how to navigate the new ocean waters that is crypto regulation discovered
ПОЧЕМУ ПРОСТО НЕ ЗАПЛАТИТЬ НАЛОГ И НА ОСТАВШИЯ ДЕНЬГИ КУПИТЬ АКЦЫИ ИЛИ ИНВЕСТИРОВАТЬ И ЧЕРЕЗ ГОД ВЫРНЕШ ДЕНЬГИ ЗА НАЛОГ И ЗА ВСЕ ЗАТРАТЫ И БУДЕШ В ПЛЮСЕ
I love you Lewis, but you are too stuck in the how, I am missing the reason why before ;-) please also Share the motivation view. Thanks a lot for your work!
I opened an LLC (Digital Asset Consultancy Association) That has a digital wallet. I then Purchase consulting hours from the LLC and pay with My Xrp, Xdc, etc.
So the company is taxed immediately on a profit for services rendered?
I think it would be far more effective to utilize business/commerce /financial terms. Folks have to get used to these term in order to understand this environment. Cannot go around talking about my toys in a box. I have my assets in a trust/LLC. Great job but keep it real.
😂😂…but it’s your toy box though😅
Ahahahahah
Lewis, Thank you for making great crypto content. I’ve been a member since your early days! - I continue to learn a lot from all your deep dives. I have a handicapped daughter who needs constant care which leaves me little time to investigate and learn on my own. Keep up the great work!
Your doing great mate fair play. I hope your daughter is doing well
It couldn’t be stated any clearer. As we move into the new system, you will ultimately become responsible for your finances.
can't wait to end the FED and the IRS... so we don't have to worry about taxes on income... I need to setup a trust either way...
"You" don't need to own any of it. The LLC owns it and can purchase whatever it is such as an investment property. Look into a "spendthrift" trust as well.
Hey Lewis, always appreciate your videos. I’m confused, although this seems like a great alternative idea I thought the best idea was use these digital assets in our wallets as collateral. Borrow a percentage, get a loan off that percentage. The loan is not taxed and the balance of the other digital assets pay off the loan. You even talked about that in one of your videos before. What has made you decide to change that method to the safe agreement??
Hi Lewis,
🙏🏼 Can you dive a bit more into the basics of being the manager of your own high net worth wealth?
For example (I’m just assuming these are some of things):
-“Topics” that must be studied
-“wealth team members” who will be needed
-Documents management and protection
…
We all know the mechanics of being in that position are clearly veiled from the everyday awareness of the masses.
Thank you in advance. 🙂
In 8 months I’ll get that cool GOLD badge! 💰 💰 💰 💰
Thanks Lewis. Great advice as usual. I've been waiting for this from you for 6-9months since you mentioned that you were looking at how to manage your crypto.
I'm sorry, I really didn't understand the analogy of the toys and the toy box. All I got is that you need an accountant and a solicitor to explain these to you.
How do you set a wallet/account in your new company name ???
This is way over my understanding
...As a parent i regularly charge our children taxes buy eating 30% of their ice cream 😅
You mean the ice cream you bought, paid for and distributed?
The obsession with avoiding tax from people involved in crypto baffles me. If we all become wealthier why would we not be happier to pay more tax? It would pay for better healthcare, education, infrastructure and ultimately a fairer and better society.
Just a little tip... when sitting in a room with bare walls, you have to adjust the sound. Its killing my ears 😅 I appreciate your work for xrp holders!
At some point the box needs to pay mommy and daddy, no? So, if you pay tax or the box pays tax what's the difference at this point?
May I ask what type lawyer you spoke with, what specialty?
One thing I’ve noticed is people throw around “talk to your accountant or professional” none of em know crypto! I’ve talked to five and they all have different takes! It’s insanity. I’m signing up with claver
Good info. Thanks. Is this something everyone look at? I hold a relatively small bag..
Lewis I’m super grateful for your daily videos. They’re really helpful! Thank you so muchhh!
dealing with tax has sent you down a deep rabbit hole
Ok Lewis ur goin to have to explain what the benefits of setting up a limited company are...Corporation tax is 25%...Capital Gains is 20%...Why bother set up the limited company?
Excellent content. Need some more of these videos!!! Im sure we are all in the process of setting up our “estate” and knowledge before hand is key for future stress free growth!
Hi Lewis my accountant thinks you will still get hit with cgt? You don’t mention this in the video?
Anyone from Australia can confirm this applies to us?
I'm 60yrs old and need to go back to school. Toys, boxes, la la la. You have lost me.
This is amazing!
Would this be valid in say Germany...Spain, well Europe in general, ya reckon?
Just create a private trust and hold your crypto in this trust. Any tax can be claimed back from within your trust?
what kind of business would you want to make to save the most amount of tax or it does that even matter and they all save you the same amount ?
Hi Lewis, would you be willing to pass over the details for your lawyer and who ever else involved to get this set up? Not many lawyers are clued up with crypto and the terms so would be better to use one with some sort of idea 👌 I'd be grateful for that information 👍
I believe he uses jake claver, also a feature in previous videos. Not a lawyer but sets up our trust structure
Thanks for shifting the conversation. Lets occupy this time while we wait
RIGHT!!!!!!!!!!
Great points Lew! Are S.A.F.E. Agreements avail in the US.
The financial system is about to make some majors changes , so It's too early to be making any decisions right now . Give about 6 months at least !
Is this worth it with a small bag of say 20,000
Thank you very much for explaining these options! You are a blessing to me.
Not sure what mic your using but it's very bassy and popping a lot in my speakers.
Love your content though
I see that it possible to get 100% CGT relief using "Entrepreneurs Relief " if you own more than 25% of the assets? Is this true? I would share the article link but presumably that would be deleted
Respect
Yesss!!!😅Talk to me like I’m 8! Lol Break it down in Laymans term! Brains a little foggy lol
Not if but when it will pump it. Then i will go to tax accountant. And ask. Because we dont pay tax because nobody knows how many i have plus i do not sold them. So there is no need to rush :)
Now try one for the adults in the room. Movement of digital assets into a financial structure to limit risk and ensure taxation obligations, with a structure that works for the future. Determining the utility of the structure with options and obligations in mind. Whilst this is big picture thinking, slight delusion of grandeur at sub fifty cents a share. But I see the movement in the market. 2023-2025-2030…..
What if I just want my cash? I'm not materialistic. I just want my cash to buy precious metals. And have some cash to buy me a farm and move off grid. Maybe a pickup truck. Thats it. I don't want more. How do I just get the cash and dodge the tax.
Your solution sounds like an investment contract. Ie creating a security .
Can you expand upon this, why did you chose this option instead holding as a individual and relocating abroad?
Or does the option you opted for still allow that?
I could happily live in Dubai for 3 months for example.
Lewis you should get a license to be a broker, tax agent, consultant and just be the community broker for a fee, and you can offer different products, risk assesments, legal advisory and consultations. Many things are changing with regulations and only a few know how to navigate the new ocean waters that is crypto regulation discovered
Thanks Lewis. I have a dormant LLP setup in my name for the past 2 years. Maybe time to use it 👍
Then slide it in a Trust. Iron clad.
Thank you for all of your hard work. Great content!
Thanks Lewis. The great information is simplified perfectly.
Really good info. Thanks Lewis!
Cryptolewlew > Lewis Jackson
ПОЧЕМУ ПРОСТО НЕ ЗАПЛАТИТЬ НАЛОГ И НА ОСТАВШИЯ ДЕНЬГИ КУПИТЬ АКЦЫИ ИЛИ ИНВЕСТИРОВАТЬ И ЧЕРЕЗ ГОД ВЫРНЕШ ДЕНЬГИ ЗА НАЛОГ И ЗА ВСЕ ЗАТРАТЫ И БУДЕШ В ПЛЮСЕ
I love you Lewis, but you are too stuck in the how, I am missing the reason why before ;-) please also Share the motivation view. Thanks a lot for your work!
Privacy, wealth management, millionaire/billionaire insider advice. Thats the way. Prepare your millions before you see your millions.
Good topic. Thanks
Great minds think alike 👍
More videos like this. Im stressed out about this topic.
Hmmmmmmm...........this sounded like mixed up and garbled ,,,,,,,,
This is soooo important!!!❤
Great content Lewis.
Great video! Keep them coming!
More
I like that intro lol
and thats 3rd grade god help me lol 😁
What is this about, matey?
What is the best place to put your crypto to best advantage yourself for the future
Wunderbar - Mokkabar
Thanks Lewis......better get my S~#T together
You need 2 write a book cause you are very intelegent. Gony phone me 5 min am skint
In 20 years, xrp may be worth $20.
super vid lewis