Ivan (ivanz)

Ivan

Founder @pennyworks. Portfolio Manager, technologist and unchained investor.

4 Followers

Recent casts

Any degen python coders out there? Our company is growing rapidly and I need a founding level engineer/lead to take the company from 1 to 10. Must have defi experience. Fully remote, high expectations, massive upside. We will be the Intuit of crypto. Anyone game?

  • 0 replies
  • 0 recasts
  • 0 reactions

Any degen python coders out there? Our company is growing rapidly and I need high-agency founding member engineers to take it to the next level. Must have defi experience. Fully remote, high expectations, massive upside. We will be the Intuit of crypto. Are you game?

  • 0 replies
  • 0 recasts
  • 0 reactions

How to leverage Portugal's crypto tax benefits? Here's the TLDR: Scenario 1: Day 1: Buy 1 BTC for $100. Day 2: Swap 1 BTC for 5 ETH. Assume the BTC is worth $150 at this time. Day 3: Sell ETH for $151. Swap BTC for ETH is not taxable since it's crypto to crypto, but you'd be taxed on day 3 ETH sale, it'll "inherit" the basis of $100, so you'd pay cap gains on $51. Scenario 2: Day 1: I buy 1 BTC for $100. 1 year + 1 days: I "swap" 1 BTC for 5 ETH. Assume the BTC is worth $150 at this time. 1 year + 2 days: I "sell" $ETH for $151. Swap BTC for ETH is not taxable since it's crypto to crypto, AND the ETH gets a new basis at $150 since BTC was held for more than 1year. You'd be taxed on 1 year + 2 days ETH sale, so you'd pay cap gains on $1. A safe way to ensure no tax liability is swap coins to a stablecoin since it still counts as crypto, and wait for a year to convert it to fiat. I'm not a tax lawyer or accountant, please consult a professional if you need personal advice.

  • 0 replies
  • 1 recast
  • 0 reactions

Top casts

Here's what we do: 1. Xero for bookkeeping. 2. Find someone to bookkeeping for you on Upwork. 3. If you do a lot of crypto, it may be a headache to track that. We built our own infra and offer it to others as a service. 4. Aggregate data for crypto and journal it periodically. 5. Hire competent accountant for taxes.

  • 0 replies
  • 0 recasts
  • 2 reactions

Indefinitely if you just tape it again using electrician's tape.

  • 0 replies
  • 0 recasts
  • 0 reactions

How to leverage Portugal's crypto tax benefits? Here's the TLDR: Scenario 1: Day 1: Buy 1 BTC for $100. Day 2: Swap 1 BTC for 5 ETH. Assume the BTC is worth $150 at this time. Day 3: Sell ETH for $151. Swap BTC for ETH is not taxable since it's crypto to crypto, but you'd be taxed on day 3 ETH sale, it'll "inherit" the basis of $100, so you'd pay cap gains on $51. Scenario 2: Day 1: I buy 1 BTC for $100. 1 year + 1 days: I "swap" 1 BTC for 5 ETH. Assume the BTC is worth $150 at this time. 1 year + 2 days: I "sell" $ETH for $151. Swap BTC for ETH is not taxable since it's crypto to crypto, AND the ETH gets a new basis at $150 since BTC was held for more than 1year. You'd be taxed on 1 year + 2 days ETH sale, so you'd pay cap gains on $1. A safe way to ensure no tax liability is swap coins to a stablecoin since it still counts as crypto, and wait for a year to convert it to fiat. I'm not a tax lawyer or accountant, please consult a professional if you need personal advice.

  • 0 replies
  • 1 recast
  • 0 reactions

Onchain profile

Ethereum addresses