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The Secret to Legally Paying Zero Taxes on Bitcoin Profits


Author Bio
Charlene Rhinehart is a personal finance writer and former financial analyst. Her goal is to help more individuals build a stock portfolio that s bigger than their shoe collection. With a background in taxes and pageantry, Charlene is always ready to sprinkle a bit of glam and happiness into her work to help individuals achieve their goals.
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The price of
Bitcoin (CRYPTO:BTC) has soared exponentially within the last year, allowing investors to quadruple their gains without lifting a finger. If you re thinking about selling a fraction or all of your Bitcoin investment, make sure you understand how taxes for Bitcoin work.  ....

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The Secret to Getting Into the 0% Tax Bracket


KXLY
February 19, 2021 3:03 AM
newsfeedback@fool.com (Charlene Rhinehart, CPA)
Posted:
Updated:
February 21, 2021 5:07 AM
If you’re tired of giving away the majority of your income to taxes, there’s a way around that. You can legally decrease or completely eliminate your tax bill by taking advantage of some of the perks in the tax code.
So, when you’re ready to tap into the secret sauce to enjoy more of your money and unlock the 0% tax bracket, here are some tips to make the process a breeze.
Image source: Getty Images.
Take advantage of the best deductions
Tax deductions are powerful components of a tax return, allowing you to trim your tax bill and keep more money in your pockets. There are some incredible benefits available that allow you to earn up to a certain amount of gross income before you have to share a piece of your income with the IRS. ....

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