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Toby Mathis
How Crypto Mining, Sales, and Staking is Taxed

Toby Mathis, Esq. welcomes Preston Knight, Esq., Senior Attorney at Anderson Advisors to the show to discuss some of the tax implications around crypto mining. You’ll hear how and when transactions are taxed, how the IRS views crypto and mining as a business entity, and some tips and tricks for avoiding and minimizing short and long-term capital gain and other taxes.


  • Taxable events
  • How the IRS views your work
  • Capital gains hit when paying with bitcoin
  • Short vs. Long term gains
  • ‘Staking’ and how it is taxed
  • Working through an S-Corp
  • How to use a Roth to avoid taxes
  • Using depreciation
  • Writing off business expenses
  • Airdrops and forks – what are the tax implications?
  • Tracking and bookkeeping


Tax and Asset Protection Events

Toby Mathis on YouTube

Anderson Advisors

Full Episode Transcript:

Toby: Hey, guys. Toby Mathis here. Today, we’re going to be talking about Bitcoin, the tax treatment, the good, the bad, the ugly, whether you’re a miner, whether you’re staking, whether you’re doing a soft fork, hard fork, no fork. We’re going to get into all the nitty-gritty. I have attorney Preston Knight with me, who is a bitcoiner. You actually are a miner if I’m not mistaken.

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