Staking Crypto IRAs – What You Need to Know
For many crypto investors, including Crypto IRA investors, staking has become a term that is often discussed. In essence, staking is the manner in which a growing number of cryptocurrencies verify their transactions. Just kike Bitcoin mining, which is based on the proof of work (“POW”) principle, proof of stake (“POS”) is a more environmentally friendly way to mine cryptos and earn rewards to…
McNulty Case Reaffirms Physical Possession Rules
The recent court case, McNulty v. Commissioner has reaffirmed the physical possession rule. Although there hasn't been much guidance in the past, this case shows why you should not hold IRS-approved metals and coins personally. It's a clear violation of Internal Revenue Code Section 408(m). Here is what we know about the case.
McNulty Case - Summary
The McNultys established a…
Buying Dogecoin with a Self-Directed IRA or Solo 401(k)
Dogecoin gets treated like a joke by a lot of the financial world, and it started as one. But a meme coin with real trading volume and a real market cap is still a taxable event every time you buy, sell, or swap it, unless you hold it inside a retirement account. Buying Dogecoin through a Self-Directed IRA or Solo 401(k) doesn't change the coin's volatility, but it does change how the…