The Millionaire’s Lawyer – From Startup to Payout

Welcome to “The Millionaire’s Lawyer” where you’ll hear leading experts share advice on how to your grow your business and sell it for upwards of seven figures. If you want to learn lawyer proven strategies for building and exiting your business for maximum profitability, then this podcast is for you. Your host, JP McAvoy, is a business lawyer, college professor, and best selling author who interviews the best and brightest in the world of business on a range of topics from business, legal and accounting perspectives. As a lawyer and the Managing Partner of Conduct Law, a law firm with clients throughout the US, Canada, and Asia, JP has been assisting clients start, grow and sell their businesses for millions of dollars for more than fifteen years…will yours be the next? To hear more from “The Millionaire’s Lawyer” listen and subscribe to the show and to access the wide variety of resources that we offer in addition to this podcast go to www.jpmcavoy.com

A Little About Micah Fraim:

Taxes are still Michah’s focus, but he advises people on what is best for the business or individual overall – not just from a tax perspective. His firm deals with businesses of all kinds, but they especially focus on online and other highly scalable businesses. A few years ago he started investing in crypto and quickly realized that nobody understands how taxes work. Since then he’s spent the majority of his time helping clients navigate the Wild West of crypto taxes.

In this episode of The Millionaire’s Lawyer, JP and Micah Fraim discuss:

A lot of the crypto and blockchain transactions and actions are becoming taxable by the IRS.

Micah mentions when it is appropriate to have a corporation run these transactions out of and through because some of the tax savings are undeniable.

For traditional securities, there’s, what’s called the wash sale rule. So if you buy stock and then it goes down in value and you wanna sell it for a loss, you’re not allowed to purchase it back for at least 30 day

Micah states that in the Bear Market people should be dollar-cost-averaging in the markets

With crypto, a lot of the investors don’t have a lot of planning around it, but because of its violitity it is almost essential to have that.

Connect with Micah Fraim:

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Connect with your host, JP:

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Email: jpmcavoy@conductlaw.com
Phone: 1-833-890-8878

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