13: What You Need To Know About Cryptocurrency & Tax
Cryptocurrency is a digital or virtual currency. Essentially, it was created to offer a system to enable peer to peer payments without the need of a third party, offering security and a measure of anonymity. For federal income tax purposes, it's treated as a capital asset. And what you don't know could hurt you since recently the IRS has made it a priority to keep up with cryptocurrency transactions. Kelly invites David Kemmerer to help guide taxpayers who are using or may be interested in using cryptocurrency.
Staying Up to Date on Cryptocurrency Regulations
David Kemmerer is the co-founder and CEO of Crypto Trader.Tax, the leading cryptocurrency software. David helps to explain the foundation of cryptocurrency, and where it is headed. David also shares the new and upcoming involvement that the IRS has in store and how to properly track and manage your cryptocurrency to avoid dilemmas. Not only does David inform taxpayers of what is coming, he also discloses the benefits, values, and stigma concerns behind cryptocurrencies. If you are currently a user of cryptocurrency or just have interest, this podcast will give you what you need to know about cryptocurrency and tax.
Listen to Kelly and David Discuss Cryptocurrency and more such as:
- What is Cryptocurrency and how it is used?
- Where does Crypto get its value?
- Capital Gain transactions with your taxes through Cryptocurrency
- IRS Involvement, views and how to handle your taxes
- What to be aware of when utilizing Cryptocurrency
- Coinbase Confusion
- How the IRS can detect if you do, or do not comply
- 1099 reports being implemented
- Exchange level and blockchain enablement tools
- Why the IRS has their eyes on Cryptocurrency and the stigma behind it
- How the benefits outweigh the cons of Cryptocurrency
- How to Buy and manage Bitcoin or Cryptocurrency
- How to keep track of your exchanges
- Does the IRS involvement take away from Cryptocurrency purposes?
More About Kelly Phillips Erb:
Kelly is the creator and host of the new Taxgirl podcast series. Kelly is a practicing tax attorney with considerable experience and knowledge. She works with taxpayers like you every day. One of the things that she does is help folks out of tax jams, and hopefully, keep others from getting into them.
Links Mentioned:
Kelly’s Website – Taxgirl
David Kemmerer – LinkedIn
David’s Company – CryptoTrader.Tax
David’s Email- David@cryptotrader.tax
