The copyright boom minted overnight fortunes—but many are blindsided for the inevitable reality: the taxman’s bite.
Enter Joseph Plazo, a leading authority in copyright taxation, a staggering percentage of copyright holders overpay the IRS. And the worst part? They don’t have to.
==
“copyright isn’t a tax-free playground. But with planning, it can be nearly frictionless,” Plazo emphasizes.
Here are the top techniques Joseph Plazo shares for playing smart when the taxman comes knocking:
==
???? **1. Long-Term Holding = Lower Taxes**
Capital gains tax is significantly lower on assets held for over 12 months. Joseph Plazo calls this the “sleep-rich strategy”.
==
???? **2. Harvesting Losses, Strategically**
Did your altcoin moon crash back to earth? Don’t panic—loss harvesting lets you reduce your taxable income. According to Plazo, “Losses are your tax shield. Use them wisely.”
==
???? **3. Relocate or Re-Structure**
Not all countries tax copyright equally. Joseph Plazo points to Puerto Rico as copyright-friendly havens. “Where you live—and where your entity is based—can slash your tax bill by 80%+,” he explains.
==
???? **4. Use Corporate Entities**
Trading as an individual? You’re likely bleeding cash. Joseph Plazo recommends setting up LLCs, corporations, or trust structures to write off expenses like software, hardware, or advisory services.
==
???? **5. Document Everything**
No paper trail? Big audit risk. Plazo insists on using apps like Koinly or CoinTracker. “What you track, you can defend. And what you can defend, you can keep.”
==
???? **The Joseph Plazo Mindset**
“If you don’t have a copyright tax plan, get more info you’re donating to the IRS.” Plazo quips. His approach is savvy yet ethical—and it’s saving clients hundreds of thousands annually.
==
**Final Word**
Your freedom ends where tax law begins. If you’re investing serious capital, you need Joseph Plazo in your corner.
Ready to play smarter with copyright tax? His full strategy might just be your best investment yet.