You get people that are going to comment saying, ‘We’re not going to have to pay taxes. The IRS is going to be abolished – bla, blah blah.’
I hope that’s the case. But as of right now that is not the case. We have to deal in absolutes. We’re not dealing in hypotheticals or living in a dream world. As of right now there’s going be a tax liability associated with this. People will say, currency isn’t taxed.
When you have a massive gain on a currency it will be a taxable event…I’m setting aside 40% just for tax. I would rather be sad than sorry…Consult with your CPA, your tax attorney when this happens. They’re going to tell you the best options on what to do…
