News & Politics
CWE 5 Crypto and Your Taxes
Full video here:https://youtu.be/Nbssed9-2SI
The intersection of Crypto Currencies and taxes is a very tricky subject.
In this podcast we address the difference between short term gains and long term gains and how some tax payers may even be in a 0% bracket without even realizing it.
Ever wonder how Airdrops are taxed? Or what about forks? What happens when you swap a main net coin for a token. i.e Ethereum for an ERC-20 token.
How is mining treated and when is the tax applied? Is the tax applied when you receive the coins or is it applied when you sell the coins?
What about wash sale rules? Are you allowed to claim a loss and immediately buy your bitcoin back? How does the IRS view crypto?
All of these subjects and more are discussed and make sure to stick around for our ad at the end which goes over important reasons to consider a crypto IRA?
Rough outline below:
Today we are joined by Beth logan who is an enrolled agent with kozlog tax advisers. Beth is one of the few tax professionals who has an understanding of crypto and more importantly what that means for you and your taxes. The government has sure made it difficult for people to understand what the heck is going on. IRS says bitcoin is property but what does that mean for others…. CFTC says it’s a commodity and the SEC says that ICO’s are more than likely securities but bitcoin and Ethereum aren’t securities. Bottom lines it’s a mess. A lot of people are confused and that’s where Beth can help us out.
I think the first thing people want to know is what is an enrolled agent and maybe what the difference between an EA and a CPA we’ve all heard of Certified public accountants but most people probably have no idea what an EA is? So can you help us out a little and break down the distinction.
Beth Logan: firstname.lastname@example.org
Some of the questions we answered:
Can you work with people around the country?
How people can reach you - ok to link in show notes?
-How you charge -Hourly - do you want to say how much?
It is Free