March 26, 2021
Bloomberg quoted Tax Director Nicholas Marazza in an article about how to be smart about taxes on Bitcoin.
Bloomberg
By Alexis Leondis
Excerpt:
Those who are philanthropically inclined and itemize their deductions may want to donate their gains to a charity (provided the nonprofit accepts crypto, although there are third parties that can help if not). That’s doubly advantageous because the donor both escapes the capital-gains tax and gets a deduction for the full market value of the crypto holding up to a certain percentage of income, as long as it was held for at least one year, said Nicholas Marazza, an accountant at Marcum LLP.
