Setup Your WY Holding Company Before 12/31/2024 for Potential Tax Savings
Change is coming...
Your cryptocurrency and digital asset exchanges are seeing more regulations on the horizon that will impact how your cryptocurrency is categorized and reported.
Starting soon, a "broker" will be required to report any transactions involving digital assets for the calendar year.
A broker is any person who regularly provides any service effectuating transfers of digital assets on behalf of another person. Miners, Wallet Developers, Exchange Platforms, etc would all now be required to keep details of your every transaction and report them to the government.
The IRS will also classify digital assets as cash. So any person that receives more than $10,000 of cash (including digital assets) in one or multiple transactions must file a Form 8300 return with the IRS or face penalties. Again, less privacy, more government reporting.
Digital Asset Protection will show you
how to retain your privacy
and protect your digital assets.
How it works
Protecting your assets should be easy and that's exactly how it is
Form a Wyoming LLC
Setup the LLC in WY to securely hold title to your digital assets
Transfer Your Assets
Document the transfer and value of your digital assets, cryptocurrency and NFTs to your LLC
Maximize Your Portfolio
Use your LLC to maximize the return and advantages of your holdings while maintaining privacy
Why A Wyoming LLC?
Wyoming is the first state to create a legal framework that not only allows but also welcomes cryptocurrency businesses. The new laws recognize legally protected property rights for owners of all types of digital assets, including crypto tokens and cryptocurrencies themselves. This means you can do business with confidence knowing your finances are safe!
Many cryptocurrency investors and enthusiasts like the fact that Wyoming law allows for an LLC to be formed without listing or disclosing any names of its members. This ensures some anonymity, which many find appealing in this day when everyone's privacy seems obsolete.
Asset protection is a key feature of LLC formation in every state. An LLC can shield its owners from personal liability and make it difficult for creditors or claimants to pierce through the "corporate veil." Wyoming's law has one of most stringent standards that must be satisfied before an owner will lose their assets, meaning they're safe even if something goes wrong with your business!
Your Digital Asset Protection System
Here are the elements of your digital asset protection system:
1. Wyoming LLC
Your Wyoming LLC will is at the core of your digital asset protection system. It will hold title to all of your digital assets, wallets, and NFTs to secure them and maintain your privacy.
2. Federal Tax ID
Any transactions, profits, or losses will be reported to the IRS on the tax id of the LLC, instead of your personal social security number.
3. Business Bank Account
Using a low cost, business bank account to fund your digital asset acquisitions and receive profits from your investments avoids the issue of co-mingling personal and investment funds.
