Since assets are never taxed before you sell it, it makes sense to use some of your cryptocurrency as collateral to borrow cash. This way you gain liquidity without incurring a current tax bill. ...
By now word is out: if you make a profit when you sell cryptocurrency, your profits are taxable. According an article of Accounting Today To actually pay your taxes is easier said than done...
According an article from CCN.com, some say it is un-American to pay tax to fund big government, but the majority of Americans will agree that spending more than you are due is certainly...
by Fulton Abraham Sanchez, CPA · Published February 6, 2019 · Last modified July 8, 2019
News BTC posted, the start of 2018 saw finger-pointing from cryptocurrency communities, after a bull-run on Bitcoin in 2017 set tax payers on a course of liquidating assets to settle their expanded tax bills....
by Fulton Abraham Sanchez, CPA · Published February 6, 2019 · Last modified July 8, 2019
An article from Cryptoslate explain that for taxpayers who have been dealing in cryptocurrencies and who have delinquent state and federal tax filings, or unreported tax years’ transactions going back to 2017 or earlier,...
by Fulton Abraham Sanchez, CPA · Published November 8, 2018 · Last modified July 8, 2019
According to the articles of Coindesk and Cointelegraph, the chief accountant for the Securities and Exchange Commission has said that companies have a responsibility to follow accounting standards when working with blockchain and digital...
by Fulton Abraham Sanchez, CPA · Published November 8, 2018 · Last modified July 8, 2019
For those that don’t know what cryptocurrency is, it is a form of digital currency where transactions occur on a blockchain technology. It is a peer-to-peer network that is both digital and decentralized. The...
by Fulton Abraham Sanchez, CPA · Published September 4, 2018 · Last modified July 8, 2019
It seems like the whole world is a buzz with cryptocurrency speculation. Will it really be the new form of currency exchange that will take over everything that we’ve ever known about currency? Depends...
by Fulton Abraham Sanchez, CPA · Published August 16, 2018 · Last modified August 13, 2019
Introduction Application of the regulations to initial coin offerings. Reg D and Reg S. Do your Initial Coin Offering or ICO with the SEC rules. Security or Utility token Initial point offering could...
by Fulton Abraham Sanchez, CPA · Published August 16, 2018 · Last modified April 10, 2019
In July, 2018, the IRS set up an international group who will be investigating cryptocurrency tax crimes, general tax fraud and the money laundering crimes that go with them. The group is called...
