Understanding Crypto Taxes: A Simple Guide for Beginners

The Tax Reality No One Wants to Talk About So here's what happened to my friend Sarah last year. She made about $5,000 in profit trading crypto in 2023 and was feeling pretty good about herself. Then tax season hit like a truck. Turns out she owed $1,800 in taxes that she hadn't saved up for. She lost track of many trades. It took her weeks to figure out what she had done. It was a nightmare. Don't be Sarah. Learning about crypto taxes now will save you serious money and stress later. The good news? It's really not as scary as it sounds once you get the basics. When your crypto is taxed. Here's the confusion: buying crypto and holding it doesn’t create taxes. It's only when you actually do something with it that the taxman comes knocking. Stuff that creates taxes: Selling crypto for regular money. Trading one crypto for another (yeah, even Bitcoin to Ethereum counts). Buying things with crypto (that pizza you bought with Bitcoin? Taxable.) Getting paid in crypto...