I found out some information the other day that I think might be of interest to a few of you.

The IRS will tax your BTC gains. There is one way around this. Hold your BTC for at least a year and donate the appreciated amount to a 501C charity. This is the holy grail of tax planning. You get to take the full value of the donation (if you itemize) but don't have to pay any capital gains.

For what its worth, I called the church last week to do just this and was told they currently don't accept BTC. However, the guy did say he heard some of the bigshots talking about how much easier it would be to use BTC to fund church operations is some countries that make it hard to move cash in and out. I suspect, the church is a bit behind on this and by the end of this year, BTC will be accepted.

Cash out your BTC within a year and you will pay ordinary tax rates on the gain. Hold for 1+ years and you not only can donate it as noted above, but the tax rate also can be a lot lower.

F18