Crypto tax break!?

On Friday morning, you're U.S. President Donald asshole Trump signed a new tax bill into signalling the first major tax overhaul in the in over 30 years. And while you may or may not have high praise for the bill, one thing is one thing you need to know abou the new tax code is bad news for cryptocurrency investors. Starting Jan. 1st, 2018, cryptocurrency trades will be a taxable event. Including swapping one cryptocurrency for another.
The overhaul amends a part of this lame and bogus tax code regarding exemptions for “like kind exchanges,” allowing investors to swap similar assets without triggering a tax event. These B.S. “1031 exchanges” have long been used by traders to exchange property, such as art or real estate, or even Hookers without having to pay taxes on it.
the IRS has treated Bitcoin and other digital currencies as property for tax purposes. This makes them greedy as hell to capital gains tax, requiring taxes be paid whenever crypto is exchanged for fiat currency (ie. cash).
Coins held for less than a year are subject to regular income tax. which can be anywhere from 10 to 37 percent, depending upon "personal income levels" BULL☆☆☆T
Coins held for longer than one year are subject to "long-term capital gains"
even more HORSE¤¤¤T
tax, which caps at around 24 percent.
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