marksea on Nostr: satoshipacioli nostr:note15w6wl5xwaj34nykjqafnv58u7kz6tcxgmx07awwyh0qu42rwqhrs0pjna5 ...
satoshipacioli (npub1drl…rfg0)
quoting note15w6…jna5#asknostr With most expecting a Bitcoin bull run in 2025, is there an IRS rule that would prevent me from the following:
1. Withhold zero dollars on all pay checks.
2. Not pay taxes quarterly (as I have been doing the last 5 years).
3. File an extension for both 2024 and 2025 tax returns.
4. Instead, buy and HODL Bitcoin with all cash that from the above listed actions.
5. When the time comes, sell what’s needed of the Bitcoin to make the 2024 and 2025 tax payments when they are ultimately due.
Has anyone else done this in the past? Any thoughts or cautionary tales? #bitcoin #taxes #cpa #irs