Understanding the Tax Implications of Cryptocurrency Staking: Revenue Ruling 2023-14
Introduction Cryptocurrency, specifically its staking mechanisms and its tax consequences continues to be a hot topic. We’ve previously discussed the topic here. Recently […]
Tax Consequence of Crypto Loans
By: Sharon Yip, CPA More and more crypto exchanges, such as Coinbase, Binance, BlockFi, and Nexo.com offer crypto loans. You can borrow […]
Understanding IRS Guidelines on Charitable Contributions of Cryptocurrency
Recently, the cryptocurrency space has grown exponentially, with digital assets becoming a significant part of the financial landscape. As this new financial […]
The Tax Impact of This Year’s Platform and Protocol Failures
By: Phil Gaudiano, CPA Note: This article originally appeared as part of CoinDesk’s Tax Week. Throughout 2022, the crypto economy has been in the […]
The Jarretts Didn’t Break Any Ground for Stakers
By: Phil Gaudiano, CPA On the evening of February 2, news broke that the IRS had agreed to refund Joshua and Jessica […]
Understanding the Ponzi Scheme Loss Deduction for Celsius Crypto Losses
Introduction: The collapse of Celsius, a major cryptocurrency lending platform, left many investors facing significant financial losses. In such cases involving potential fraud, […]
Digital Assets and Consensus Mechanism Changes – A Tax Perspective
By: Phil Gaudiano, CPA As the world of digital assets continues to evolve, many investors and users of cryptocurrencies find themselves navigating […]
Can You Avoid Paying Your Crypto Taxes Legally?
By: Sharon Yip, CPA Many people wonder how the rich can get away without paying their taxes, legally speaking of course. But […]