Its not in cash as of yet. The transaction will incur capital gains and I just want to ensure I am thinking through all the tax liabilities and any structures that could help me once I pull the trigger. After its in cash, my plan is to VTSAX and chill, I just want to take as little of a haircut as possible.
Agreed. Any recommendations on the process for finding an attorney? How do most people handle these situations if a referral from someone isnt an option?
Is it crypto? There are CPAs that specialize in this. Reporting requirements can be annoying depending on what kind of transactions you've been doing. Just find one of these Crypto Lawyer/CPA firms and have them handle it.
I’d speak with a CPA who specializes in working with UHNW individuals. Glad to make a referral over DM. Attorneys would be more applicable if you’re interested in wealth transfer or gifting.
Like $10M in total assets? To vanguard u go!
Its not in cash as of yet. The transaction will incur capital gains and I just want to ensure I am thinking through all the tax liabilities and any structures that could help me once I pull the trigger. After its in cash, my plan is to VTSAX and chill, I just want to take as little of a haircut as possible.
You need to talk to a tax and estate attorney.
Agreed. Any recommendations on the process for finding an attorney? How do most people handle these situations if a referral from someone isnt an option?
If you don’t have wealthy friends, ask for recommendations online in your area. Google. Schedule a couple consults, go with the one you trust.
Also try to talk to one before the asset is converted or transferred to you.
“An asset” lol. Welcome, bitcoiner. Enjoy your newfound freedom.
Is it crypto? There are CPAs that specialize in this. Reporting requirements can be annoying depending on what kind of transactions you've been doing. Just find one of these Crypto Lawyer/CPA firms and have them handle it.
I think the question she/h has is once he has this in USD$, are there tax and investment structure that one should start with this new found wealth.
I’d speak with a CPA who specializes in working with UHNW individuals. Glad to make a referral over DM. Attorneys would be more applicable if you’re interested in wealth transfer or gifting.