Are there any tax advantages to opening a SEP IRA with a cryptocurrency platform?

1 answers

• Mar 22, 2022 · 3 years ago
  While I can't speak specifically for BYDFi, opening a SEP IRA with a cryptocurrency platform can offer potential tax advantages. Contributions made to a SEP IRA are tax-deductible, which can help lower your taxable income. Additionally, any earnings or gains within the SEP IRA are tax-deferred, allowing your investments to grow without immediate tax obligations. However, it's important to consult with a tax professional to understand the specific tax rules and implications related to cryptocurrency investments in a SEP IRA.
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