3 things every NFT investor should know to avoid a tax nightmare -Breaking
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2021 will go down in history as “the year of.” nonfungible tokens (NFTs). Names like Beeple Bored Ape Yacht Club dominated the headlines, it’s estimated that NFTs have SubmittedMore than $23 trillion in trade volume
A new breed of investors has emerged from the rise of NFTs. They spend their time looking through platforms such as Discord or OpenSea in search of the next 100x opportunity. However, it’s important for the NFT investor of today to keep tax implications in mind. They risk making the same mistakes as the previous investors.
Miles BrooksMiles is a licensed public accountant. He also serves as the director for tax strategy at CoinLedger. CoinLedger is a crypto-tax software platform that automates all aspects of the tax reporting process. Miles is a graduate of California Polytechnic State University- San Luis Obispo with a master’s degree in taxation. Miles worked previously at Apercen Partners before joining CoinLedger. This boutique tax firm specializes in helping ultra-high-net worth founders and investors to develop income and wealth planning strategies. Miles, a crypto tax specialist, has been involved in taxation of cryptocurrency since 2017.
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