Expats, short for expatriates, are people who are based in a country other than their home country. It is sometimes believed that these people have denounced their country and decided...
Your taxes this year may be dominated by a clear question: "At any point in 2020, did you sell, receive, send, trade, or earned financial interest in any virtual currency?"In...
What is considered a convertible virtual currency?Convertible virtual currency is an uncontrolled digital currency. Still, it can be used as a substitute for a real and legally recognized...
A cryptocurrency wave has led to the rise of Bitcoin to over $30,000 per coin, with everyone scrambling for their share of the digital currency. However, if you are interested in cryptocurrencies,...
How much you paid for your cryptocurrency (cost basis) greatly impacts the taxes you pay when you finally sell them. Understanding how the specific ID, first-in, first-out (FIFO),...
This year’s tax day has been delayed by the United States Internal Revenue Service from the 15th of April to the 15th of July. This means a lot of Americans won’t be worrying...
Posted by Tim Thompson CPA PLLC on 06/23/2020
The internet came with many blessings for men, and making money is one of the benefits. As a result, there are many resources online that can help you make and grow your wealth. In...
There are four ways to stop paying taxes on your crypto earnings. If you're fed up with the IRS receiving half of your short-term profits and 20% of your long-term gains, here...
For Bitcoin (BTC), the year 2017 was a year to remember. While most Bitcoin bulls would rather forget the year after that. These digital assets are known to be volatile but exciting--...
Posted by YourIRSTaxAdvocate.com on 01/19/2020