Cryptocurrency and Virtual Currency Accounting
Real Estate and Construction Accounting
Hey Saim, is legal to set up your Crypto LLC and what are some details that I need to be aware of?
Of course, you can set up a Crypto LLC for your crypto business. LLC’s can offer tax write-offs and deductions, depending on what you are doing with crypto. The most important thing is to ensure all personal and business matters and transactions are kept separate.
There are other entity types you might benefit from depending on your crypto business. Incorporation can also help to lower your overall tax burden, if tax strategies are utilized properly. I’d recommend consulting with a cryptocurrency accountant to be sure you have the best entity for your business.
LLCs provide you with certain legal protections. We are not lawyers, and if you need legal consultation, we would advise you speak with a lawyer.
© Saim Akif, 2021