Virtual Event on December 19, 2022, 2:00-3:00 EST/11:00-12:00 PST
SAN MATEO, CALIFORNIA, UNITED STATES, December 14, 2022 /EINPresswire.com/ — Earnity, a social crypto platform and marketplace, announced today that it is hosting a virtual expert panel on tax-loss harvesting strategies for cryptocurrency (crypto) investors. The webinar is part of Earnityâ€™s recently announced expert speaker series. With these panels, Earnity, together with crypto industry leaders, are shedding light on the crypto market, crypto trading, crypto investing, crypto financial planning, crypto tax planning, as well as related macro economic trends and news developments impacting the crypto market and industry.
â€œTax-loss harvesting is a very useful technique that crypto investors can use to offset some or all of their capital gains and possibly save a lot of taxes,â€� said Sharon Yip, Co-Founder and CEO of Polygon Advisory Group, and one of the speakers at Earnityâ€™s event. â€œGiven the bear market, we expect to see more investors deploying tax-loss harvesting this year,â€� she added.
â€œAny investor that has lost value on a crypto position has the ability to sell the investment, capture the capital loss and reinvest back into the same cryptocurrency immediately,â€� explains Jackson Wood, Portfolio Manager at Freedom Day Solutions, contributing writer for CoinDesk, and an expert speaker with Earnity.
â€œThe more governments, especially in the U.S., try to tax crypto, the more crypto owners will use tax loss harvesting to compensate,â€� reported AccountingToday, following a recent study by the National Bureau of Economic Research that found that tax-loss harvesting becomes especially pronounced by the year-end and during market downturns. Given the bear market, many more investors may be exploring this strategy this year.
â€œWhile many investors might want to consider tax-loss harvesting, it should be made with the guidance of a financial professional you trust,â€� urges Ryan Firth, Founder and President of Mercer Street Personal Financial Services, an investment advisory firm based in Houston, Texas, and another speaker on Earnityâ€™s tax-loss harvesting expert panel.
â€œCrypto is confusing enough. Crypto taxes take the complexity to another level, which is why expert advice is so crucial,â€� said Dan Schatt, CEO of Earnity. â€œNow more than ever, there is a need for verified, actionable, expert-led crypto education, and Earnity is collaborating with trusted, credentialed experts to allow easy access to the highest level of crypto expertise and education available,â€� he added.
Earnityâ€™s â€œTax-Loss Harvesting Strategies for Crypto,â€� webinar will take place on Monday, December 19th from 2:00-3:00 EST/11:00-12:00 PST. Registration is free.
Polygon Advisory Group
Founder and President
Mercer Street Company
Yip and Firth will explore topics including:
Tax-loss harvesting basics
How to use tax-loss harvesting for crypto
Practical tips on planning your tax-loss harvesting strategy
Advice on navigating common pitfalls
Future crypto expert panel topics include: security considerations for keeping your crypto safe, ramifications of the FTX collapse, financial planning for 2023, tax planning for 2023, and more.
This event follows Earnityâ€™s event, â€œBuckle Up: Navigating the Recession with Crypto,â€� with experts Dara Albright, Co-Founder, DWealth Education; Adam Blumberg, Co-Founder, Interaxis; Nick Reilly, Founder, One Day Advice; and Jackson Wood, Portfolio Manager, Freedom Day Solutions.
Earnity is a Silicon Valley community-based crypto platform and marketplace where users can learn about crypto through the community, as well as share, buy, gift or create collections of crypto. Earnity’s focus on creating a smart and welcoming community of verified users is making crypto easier to understand, more accessible and more secure. Connect with @JoinEarnity on Instagram, LinkedIn or Twitter.
General tax-loss harvesting information: https://www.investopedia.com/articles/taxes/08/tax-loss-harvesting.asp
Jackson Wood CoinDesk article: https://www.coindesk.com/learn/tax-loss-harvesting-rules-cryptocurrency/
AccountingToday article: https://www.accountingtoday.com/news/report-finds-crypto-increases-use-of-tax-loss-harvesting
Recent study detailed by the National Bureau of Economic Research: https://www.nber.org/system/files/working_papers/w30716/w30716.pdf
Sharon Yip, Co-Founder, CEO, Polygon Advisory Group information: https://www.linkedin.com/in/sharon-yip-cpa-cce-mba-mst-7857951/
Ryan Firth, Founder and president, Mercer Street Company information: https://www.linkedin.com/in/ryanfirth/
Polygon Advisory Group information: https://www.polygonadvisory.com
Mercer Street Company information: https://mercerst.com