It's quite simple: to pay your tax bill, you need to know the number of your accumulated gains or losses. Below, we'll explain how to calculate your cryptocurrency gains, so...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 12/31/2022
The cryptocurrency world is currently in chaos. Just a few months ago, cryptocurrency companies were everywhere during the Super Bowl, following the virtual currency surge of 2021.Today,...
Posted by Dennis Jao on 08/24/2022
Cryptocurrency has become the most delinquent and high-gaining investment of the modern era. The long-term investment has led people to ask what happens to Bitcoin (BTC) when the owner...
Posted by Pat Raskob, Emeritus on 07/31/2022
Getting a fiat loan on your appreciated crypto is a great way to withdraw money without paying capital gains tax. This article will analyze several transactions associated with a cryptocurrency...
Posted by KLSM CPA Firm PLLC on 04/06/2021
Does the IRS take a large chunk of your cryptocurrency income? Maybe you traded one cryptocurrency for another at the right time and withdrew a lot of it in dollars, and now you have...
Posted by CORE PERFORMANCE on 05/29/2021
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),...
Posted by Carmen Garcia on 10/01/2020
Currently, there are numerous platforms in the e-commerce world that will reward you in bitcoin when you buy products or services from a list of specific suppliers. A quick Google...
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
Every bitcoin transaction either bought, sold, or traded comes with tax consequences.The Internal Revenue Service (IRS) has ordered the Coinbase cryptocurrency exchange deliver all...
Posted by Larry Hurt on 07/25/2019
