Bitcoin, Cryptocurrencies and Tax Series


#1

Hi Everyone
I’ve been working hard on getting different stuff online to help the Bitcoin and Cryptocurrency communities.
In Miami I was able to meet Daniel Winters of Global Tax LLC. He works with several crypto companies and people. We were able to get setup for a tax series.

We kicked off our weekly tax advice and info series today.
Feel free to submit questions in the comments section and each week we will get some answers for you.

I have Drew Cordell writing the series with Daniel.
I kicked it if with a video interview with Daniel.
Enjoy and I hope this helps you all with your tax and accounting.
Interview with Daniel Winters about Bitcoin and Taxes
Kick Off Article
Bitcoin and Taxes Basics

I have more things coming in the near future for you all as well in different areas. Stay tuned.


#2

Figuring this out on a personal level will turn to a nightmare, this is why I turn it over to my accountant since I write it into part of my business.


#3

I know that’s why I put this together to help everyone. It is a weird situation as the IRS treats it as a stock type deal. Yet people user it as a currency.

I hope this series helps people.


#4

Exactly and now some states are discussing accepting it as currency. So they need to decide, is it to be treated and taxed as a property, currency or an investment.

My accountant did have to study up on it since no one else has asked her to deal with this mess but she admitted that it was something that she had really needed to do. Luckily for her I did keep records of what the cash price was at that time when I did buy or sell. She did cuss me out jokingly though telling me that she could have used that time spent on studying the tax aspects of it on more time relaxing.


#5

My tax accountant almost had a fit until I have her my reports. Lucky I did not make much.
I wish I was healthy again so I could work. The opportunity’s in bitcoin and crypto are huge.


#6

Tax information around Bitcoin is extremely important and most folks tend to gloss over it.
I’m glad to see someone making an effort to get some useful info out there :+1:


#7

Thank you I have so many things I am getting going to help the community. I am excited about. I wish I was not disabled so I could go faster.

Things like taxes are huge right now especially with all the different regulatory things going on.