Need advice on taxes for llc

versacestove

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If this isn't the right forum please let me know. I need help as I opened an LLC in January 2024. Long story short my partner bailed on me and the llc barely did any business last year. However my digital assets show a steady stream of money coming in and out. What advice can anyone offer to evade taxes and anonymize my crypto? Thanks in advance.
 
If this isn't the right forum please let me know. I need help as I opened an LLC in January 2024. Long story short my partner bailed on me and the llc barely did any business last year. However my digital assets show a steady stream of money coming in and out. What advice can anyone offer to evade taxes and anonymize my crypto? Thanks in advance.
convert your crypto to xmr and store them in a cold storage, make an audit report and show them your company went under loss. and your company is bankrupted
 
assets will be held by the court so you will not gonna have any access after announcing bankrupt
that depends on if you 7 or bk 11. there are alot of ways to lower your tax rate on your company. look up tax law in your state like mentioned below. most important tho if you are going to go the bk route make sure you got no assets on the books, just going to more of a headache for you later on.
 
I had a business for two years, did my own books, filed my own taxes, etc. I was based in the US and if I was in your position I would consider the following:

1. Take @LetsCleanItTogether advice to convert to cold storage - protect the dinars.
2. If you're in the US, look at your state exceptions for taxable business activities, for example, in some states income from services is not taxed at the state level. Record your books income to match those tax exempt categories to reduce your state tax burden on paper.
3. If you have any equipment or other assets formally on your books be sure to depreciate/amortize them, it's fully deductible and not hard to make a depreciation/amortization schedule for audit purposes.
4. Avoid making claims to easy audit triggers, i.e. home office expense, just to reduce your tax burden.
5. Again just unique to the US, but as the current administration looks to cut back on the IRS (personnel and budget) the better a spot you will be in to fly under the radar - nothing tangible here just keep an eye on the news.
6. It's easier for an audit to hide stuff on the balance sheet than the P&L.
 

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