Tag: taxeable events

If you never intend on selling your bitcoin, why might you still need an advisor?In The United StatesA great question.I mean, if you haven’t sold any of your stack yet, and probably haven’t incurred a taxable transaction, then why would you need to consult a professional tax advisor? You’re a HODLer; you have diamond hands. You’ll never sell. So, do...

The proposed legislation seeks to reduce friction in the usage of bitcoin as a daily currency.A bipartisan bill introduced Thursday would exempt bitcoin transactions from tax obligations if the associated capital gains are $200 or less, seeking to incentivize the digital currency’s usage as a medium of exchange in the U.S. economy. Currently, any gain obtained from the sale of cryptocurrency must...

What is the current outlook on bitcoin taxes, and what might the future hold as the network and asset grows?While many joke about that unfortunate boating accident that magically makes all bitcoin disappear, the vast majority of us know that as the popular meme goes, “One does not simply not pay taxes.” This article is geared toward the U.S. tax code, as...

What are the basics that everyone should know about how their bitcoin is taxed in the United States?Is the purchase of bitcoin taxable? Do you pay taxes on the sale of bitcoin? What transactions require me to report my Bitcoin? These are questions nearly every Bitcoiner has asked themselves at some point in their Bitcoin journey. The topic of taxes and bitcoin...

This tax season, it may be worthwhile to consider making a bitcoin donation to reduce one’s taxes through philanthropy.This year is on track to be a record year for bitcoin donations as more donors continue to learn about the tax benefits of donating bitcoin instead of fiat. Why do so many high-networth individuals make large gifts of equities or bitcoin instead of...