Wash Sale Rules May Soon Apply to Your Crypto Losses
By: Phil Gaudiano, CPA As part of the negotiations around the “Recovering America’s Wildlife Act” (House version & Senate version) currently making the rounds […]
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 […]
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, […]
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 […]
Two new crypto tax provisions to know
By: Phil Gaudiano, CPA There are a number of tax policy provisions in various stages of discussion in Congress. Relevant to crypto […]
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 […]
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 […]
Some NFTs May Soon Be Considered Collectibles
By: Phil Gaudiano, CPA In a recent development, the Internal Revenue Service (IRS) has issued Notice 2023-27, which announces its intention to provide […]
Self-Directed IRAs — Investing for Retirement with Crypto and Other Alternative Assets
By: Phil Gaudiano, CPA As alternative asset classes move toward greater acceptance, many people have become interested in including non-traditional investments in […]
Sales Tax & NFTs – More Questions than Answers
By: Phil Gaudiano, CPA As the market for non-fungible tokens (NFTs) continues to grow, it’s important for buyers and sellers to understand […]
Paying Crypto Transaction Fees with a Third Cryptocurrency
By: Sharon Yip, CPA During a crypto for crypto trade, sometimes people pay the transaction fee with a third cryptocurrency, such as […]