 All right, everybody. So what I want to do is I wanted to bring in somebody who could help us out with taxes, especially as we get to towards the end of the year, we're in December 2022. And there's a lot of things that happen. So I brought in a friend of the show, David, camera from coin ledger to answer some questions. David, thanks for coming by. Yeah, it's always good to be on. I was like chatting with you. So let's do it. Hey, man, I need to save some people because there's like, there's a couple of questions that came up. And one of those big questions was Rob, what do we need to know right now before the year ends? And I was like, that's a good question. Because if we're going to do an education series coming up in January 2023, February and March, but what if you'll need to know like right now before 2022 ends? Yeah, and it's a good question because it's very relevant. You and I were chatting a little bit before, but the main thing to know before 2022 ends is you need to know where you're at from a tax liability standpoint. And let me explain why. Because the beginning of 2022, if everyone remembers, January, February, March, prices were ripping, right? It was still on the up. And so if you were making trades, earning staking words, earning interest, you were realizing income at those high price levels. Then obviously price is correct. Three arrows happens, you know, all this stuff comes out and we go through, you know, drastic downward pressure in the market. And what happens, right? This is the nature of humans is during the up markets, people are checking their portfolios and they're seeing how much money they're making. And as soon as things start to go down out of sight out of mind, they kind of forget about it. And so the risk that thousands of crypto investors are at is if you were realizing taxable events at the start of the year when prices were very high and you haven't done anything since then, you could be looking at a large tax bill if you don't realize losses now. So what you should do before the end of December is take a look at where your portfolio is and what taxable events and taxable income you've incurred coin ledgers a good platform to help you do that, but you can do it by hand as well. And if you have, you know, gains that you incurred from January to March and you haven't done anything since then you're still holding these assets that have now drawn down 80%. What you should do is harvest those losses so that it offsets those gains you were realizing earlier in the year. This can save you a ton of money and the risk. If you don't do anything, if you just let it ride through the end of December to the new year and, you know, come April you finally log in to do your taxes. You might be looking at a massive tax bill that you can do nothing about now because 2022 is over. That is your taxable income for the year. You can't retroactively go and sell to harvest losses and realize losses. So the Twitter comment that you shared with us is it's a great one because people should before the years over take assessment of where they're at from a tax liability standpoint. And that caught off guard, you know, when taxes are actually due, which is April 18th in 2023. Perfect. So there's two things to unpack there. First of all, you said, you know, we can do what we want to and take a look at our spreadsheets or use Queen Ledger. I'm going to be honest with you, man. I don't like to pour through spreadsheets and I especially don't like to look through all my exchanges to see like, because I dollar cost average and a lot of people that are watching this video, they dollar cost average. That's different price points every single day, week and month. And to go back there, honestly, sounds like a very daunting task. So I'm not, I'm not, I don't have the time or the effort or the energy to do those things. That's why I like that Queen Ledger is around. And the second thing when you take it, when you talk about taking a look at like looking back before things get crazy. The first thing I think is first I get anxiety and like, damn it, now I got to do those things and go through it and put this into a product. But with Queen Ledger, and there's a link in the description, and it looks just like this. And of course, that is an affiliate link, but also there's a video on how to set everything up, especially with the API integration. And the one thing I like about with Queen Ledger is because on the website itself, you look at the pricing. First of all, you can start for free. You just, you can look at it, start for free, and that's what's awesome. And then it says right here, start for free. But if you want to actually generate the reports and send them off to your CPA, which I've done now two years straight, there's different tiers for. I mean, 49 bucks, trust me, peace of mind, 9919929, whatever you want to do, it's up to you. But I just like that option. And then lastly, that there was one thing that you talked about, you talked about tax loss harvesting, which would be okay. Now towards the end, I need to either, you know, get rid of these off the books, take some big losses and then, oh, great, now I have losses and I can offset that. Can we, I always get this question, can we buy back? Because a lot of people are in the traditional market. So like, I can't buy back my stocks, my equities because it's a security and that's called wash trading. Can we do that still with crypto? Yeah, you can. And that's a great highlighting point that I didn't hit on in my rant there. You can. So because the IRS explicitly defines cryptocurrencies as property, right? It defines things like stocks as securities and explicitly in the code, wash sales apply to securities. You know, it's consensus in the space that right now, you know, digital assets and cryptocurrency, the wash sale doesn't apply. So you can again sell, harvest your losses, buy back into the exact same position at a lower basis, and then you've realized those losses. So the answer is yes, you can do that. Perfect. I did that with XRP, worked out pretty well for that year. Okay, so that is it. I just want to show people a little snippet about what to expect. We'll have David and some of his group on hopefully some CPAs in January, February and March to answer the tough questions such as a thing like what happens when exchanges fell, what can I do with my other crypto? How do I set this up? So we'll do all those things in January, February and March. I just want to put this out quickly so people understand before the year is over. David, thanks for stopping by, man. We appreciate it. Thank you for having me. I'll see you guys. All right, let's jump back.