The copyright boom minted overnight fortunes—but many are blindsided for the looming reality: copyright tax.
That’s where Joseph Plazo comes in, a thought leader in digital asset law, many copyright investors are paying more than they should. And the worst part? There are legal ways to avoid it.
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“People think the blockchain is invisible to tax authorities. It’s not. But that doesn’t mean you can’t minimize your burden legally,” says Plazo.
Here are his top strategies for keeping more of your copyright profits:
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???? **1. Long-Term Holding = Lower Taxes**
Capital gains tax is significantly lower on assets held for over 12 months. Joseph Plazo advises clients to plan exits wisely.
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???? **2. Harvesting Losses, Strategically**
Got a losing coin? Don’t panic—tax-loss harvesting lets you offset gains with losses. According to Plazo, “Losses are your tax shield. Use them wisely.”
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???? **3. Relocate or here Re-Structure**
Location matters. Joseph Plazo points to Puerto Rico as copyright-friendly havens. “Where you live—and where your entity is based—can slash your tax bill by 80%+,” he explains.
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???? **4. Use Corporate Entities**
Trading as an individual? You’re likely bleeding cash. Joseph Plazo recommends setting up LLCs, corporations, or trust structures to write off expenses like software, hardware, or advisory services.
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???? **5. Document Everything**
No paper trail? Big audit risk. Plazo insists on using apps like Koinly or CoinTracker. “What you track, you can defend. And what you can defend, you can keep.”
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???? **The Joseph Plazo Mindset**
“If you don’t have a copyright tax plan, you’re donating to the IRS.” Plazo quips. His approach is savvy yet ethical—and it’s saving clients hundreds of thousands annually.
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**Final Word**
Your freedom ends where tax law begins. If you’re investing serious capital, you need Joseph Plazo in your corner.
Tired of leaving money on the table? His full strategy might just be your best investment yet.