MultiversX Tracker is Live!

Small business and buying btc

Bitcoin Reddit

More / Bitcoin Reddit 86 Views

Hi everyone!

I think the answer will be yes but I can’t articulate the why so I’m hoping someone can explain it for me.

I own a small bakery.100% ownership. I have a healthy cash reserves for the business. It’s a growing business but our monthly expenses are quite low and it’s a very low risk business. We have zero debt.

I buy and hold btc for myself. But should the business also buy and hold btc? I’d like to keep half the reserves in fiat but the rest in btc.

Down the line, the growth of btc might surpass what we actually make from the bakery. If we don’t cash out the btc, there wouldn’t be any capital gains tax. Would purchasing btc be a business tax write off? As long as the business has enough fiat reserves for emergency expenses, I don’t really expect to sell the btc so I’m not worried about the inevitable bear market in a few years.

Or I can just continue buy directly myself only and not through the LLC. I just don’t know if there is a clear obvious benefit buying through the business.

submitted by /u/snapbanana25
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.



Comments