Hoping that Singapore remain our peace and stability in such a turbulent world today.
+2
a very huge congratulations to FUTU for crossing the $10 billion AUM mark. This is a really key milestone and I am happy to be part of it. Cheers to more milestones with FUTU! ![]()
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The crypto market is down, but you can celebrate the dip in prices.Because the IRS classifies digital currencies like bitcoin as property, losses on crypto holdings are treated much differently than losses on stocks and mutual funds.With crypto tokens, wash sale rules don’t apply, meaning that you can sell your bitcoin and buy it right back.
This paves the way for tax-loss harvesting. The best thing do is sell at a loss and buy back bitcoin at a lower price. You can harvest an unlimited amount of losses and carry them forward into an unlimited number of tax years.
Quickly buying back the cryptos is another key part of the equation. If timed correctly, buying the dip enables investors to catch the ride back up, if the price of the digital coin rebounds. $Bitcoin (BTC.CC)$ $Bitcoin Cash (BCH.CC)$ $Ethereum (ETH.CC)$
This paves the way for tax-loss harvesting. The best thing do is sell at a loss and buy back bitcoin at a lower price. You can harvest an unlimited amount of losses and carry them forward into an unlimited number of tax years.
Quickly buying back the cryptos is another key part of the equation. If timed correctly, buying the dip enables investors to catch the ride back up, if the price of the digital coin rebounds. $Bitcoin (BTC.CC)$ $Bitcoin Cash (BCH.CC)$ $Ethereum (ETH.CC)$
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