The copyright boom minted overnight fortunes—but many are blindsided for the looming reality: capital gains tax on copyright.
Enter Joseph Plazo, a leading authority in copyright taxation, a staggering percentage of copyright holders overpay the IRS. And the worst part? It’s preventable.
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“People think the blockchain is invisible to tax authorities. It’s not. But that doesn’t mean you can’t minimize your burden legally,” warns Joseph Plazo.
Here are the top techniques Joseph Plazo shares for playing smart when the taxman comes knocking:
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???? **1. Long-Term Holding = Lower Taxes**
One of the easiest copyright tax advantages? Hold for at least a year. Joseph Plazo says this separates impulsive traders from wealth builders.
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???? **2. Harvesting Losses, Strategically**
Still holding onto those 90% drawdowns? Don’t panic—strategic selling lets you offset gains with losses. According to Plazo, “Losses are your tax shield. Use them wisely.”
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???? **3. Relocate or Re-Structure**
Location matters. 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.
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???? **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.
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???? **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.”
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???? **The Joseph Plazo Mindset**
“If you don’t have a copyright tax plan, you’re donating to the IRS.” Plazo reminds clients. His approach is savvy yet ethical—and it’s saving clients up to 7 figures annually.
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**Final Word**
copyright may be decentralized—but taxes aren’t. If you’re investing serious capital, you need more than luck—you need a plan.
Want to protect your copyright profits? more info The system he built might just be how the smart money stays rich.