Tax

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US Tax Law and Cryptocurrency Part 3: Cost Basis Accounting (FIFO, LIFO, HIFO, and Specific Identification)

1 Mar 2021 5 minute read 0 comments Phul

I am a certified public accountant (not an artist) that is based out of New Jersey, and I'm continuing my extensive guide covering the interactions of United States tax law and cryptocurrency. The cost basis of an asset is its original value which is...

US Tax Law and Cryptocurrency Part 2: Tax Loss Harvesting and Wash Sales

25 Feb 2021 3 minute read 0 comments Phul

I am a certified public accountant that is based out of New Jersey, and I'm continuing my extensive guide covering the interactions of United States tax law and cryptocurrency. You can view the first part on LeoFinance, my own blog, Medium, Reddit, a...

US Tax Law and Cryptocurrency Part 1: The Basics

24 Feb 2021 3 minute read 3 comments Phul

This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, investment, or accounting advice. You should consult your own tax, legal, investment, or accounting advisors...

Living From Cryptocurrency In Germany? A Reality Check

14 Feb 2021 5 minute read 22 comments Khazrakh

Like many of us, I'm somewhat obsessed with the concept of living from cryptocurrency instead of relying on my everyday job's salary to pay the bills. I'm pretty confident that this is eventually going to be possible and I certainly don't have any in...

Will Bernie RUIN the Economy? | A Market Overview under a Biden Presidency

4 Feb 2021 1 minute read 0 comments BudgetHolics

In this video I go over some, in my view, key economic policies that will affect the economic environment of the coming years. Namely, Environmental Policies, Taxation, and Healthcare. The Biden administration seems to be prioritizing the narrowing...

The REAL Crypto Trilemma: Crypto, Taxes, and You

2 Feb 2021 5 minute read 1 comment Michael @ CryptoEQ

If you have already filed your 2020 individual tax returns, you probably noticed a question about Cryptocurrency. You may have already taken the deep dive into this topic and if so, I hope you still learn something from this. If you have more questio...

I've Never Owned Any Bitcoin, Uncle

16 Jan 2021 4 minute read 0 comments Jimmython

Honestly, I don't even know why I'm talking to you right now, Uncle. You haven't called me in years, and you don't have jurisdiction over sovereign assets. I honestly think that you're only getting in touch with me because you heard about my success...

Why do you need a crypto tax calculator?

26 Dec 2020 1 minute read 0 comments Cryptotexty

I just read an article about the crypto tax calculator. The author of the article helped his Australian friend to buy some cryptocurrencies, particularly Cardano and Ripple.  While some people live in one of a handful of jurisdictions where capital g...

Steve Mnuchin Tanks Coinbase IPO? (How to Get Around US Wallet Regulations)

18 Dec 2020 3 minute read 4 comments Jimmython

US Treasury Secretary Steve Mnuchin is set to impose useless, ridiculous regulation aimed at self-hosted wallets. But since he can't really regulate the apps you put on your computer, he has to do it through the exchanges. What the regulation really...

Cryptocurrency Taxation – A Bit Brain Guide

8 Dec 2020 6 minute read 4 comments Bit Brain

If you’re worried about the taxes which you need to pay on your crypto trades, Defi earnings, staked coin dividends etc, then my question to you is:“Why on Earth does your government know what you’re doing with your crypto?”You’re doing it wrong; tha...