BitcoinTaxes Crypto Taxation Series

Matt Metras, an EA at MDM Financial Services, spoke to the author of the 2019 IRS Crypto FAQ and shares with us what he learned, and what all of it means for crypto traders and enthusiasts, including forks, airdrops, viable calculation methods, and the concept of fair market value.

Matt Aaron, co-founder of Crazy Calm CBD Coffee, joins the podcast to discuss the benefits of accepting cryptocurrency payments with a business that is considered high-risk. Matt, no stranger to podcasts himself (as the previous host of the Bitcoin.com Podcast), succinctly describes the advantages of accepting crypto payments, as well as the hurdles that new business owners may need to overcome.

Mike Stoddard is a CPA, PFS, and CFP with a storied history in taxes, investments, and cryptocurrency. Mike joins the show and illustrates how experience in these industries lends to his ability to predict what's to come in the crypto and blockchain spaces. Mike also discusses the philosophical nature of cryptocurrency and describes how enthusiasts can maintain their views while still obeying the law of the land.

Connie Gallippi is the Founder and Executive Director at BitGive, the first Bitcoin non-profit organization recognized by the U.S. Government. Connie joins The BitcoinTaxes Podcast to discuss how blockchain technology is perfect for the non-profit sector. We discuss the benefits of utilizing the blockchain and cryptocurrency for social good, in addition to the added perk of being able to offset crypto capital gains to save you some money come tax time.

The IRS has recently released new tax guidance for cryptocurrency trading - the first official guidance released in over 5 years, since March 2014. Tyson Cross, a tax attorney who specializes in cryptocurrency taxation, joins the show to analyze this new guidance. Tyson's expertise provides clarity to some of the ambiguous components of the new guidance. The guidance provides new information about forks, airdrops, calculation methods, and establishing a coin's fair market value - Tyson provides his expert analysis, as well as his opinion, on each of these topics.

Some analysts predict that Bitcoin prices will increase significantly. With the halvening approaching, that prediction could become a reality. Most crypto investors certainly hope so, but large capital gains will inevitably follow a bull market. Becoming crypto-rich has some serious tax implications that every investor needs to be aware of. Tyson Cross joins us to discuss these implications and shares powerful tax reduction strategies that investors can utilize during the next big crypto bull run.

The IRS has begun sending out educational letters to more than 10,000 cryptocurrency users reminding them that they need to be including their crypto capital gains and losses on their tax forms. The IRS letters will be referenced as 6173, 6174 or 6174-A, and strive to help taxpayers understand their tax and filing obligations and how to correct past errors.

Drew Hinkes has an expansive background in the crypto-space. He is an attorney with Carlton Fields, the co-founder and General Counsel of Athena Blockchain, and Adjunct Professor at the NYU Stern Business School and the NYU School of Law. Drew joins the show to discuss gaps in the current crypto tax guidance, how individual states handle cryptocurrency trading, the flawed concept of “valuation”, and what it’s like to teach a college course on cryptocurrency.

Tim Doyle, a Chartered Accountant, joins us to discuss how cryptocurrency taxation is handled in New Zealand. Tim’s been an accountant for over 10 years, and has honed his focus to cryptocurrency taxation for the past couple years. Tim shares some excellent information that will be useful to any New Zealand crypto enthusiast, and sheds some light on the global differences of crypto taxation.

Laura Walter, aka The Crypto Tax Girl, joins us to talk about her experience in the crypto taxation space. Laura has a rapidly growing following that she shares useful taxation information with via Twitter, YouTube, and through her courses. Laura talks about the benefits of having a knowledgeable CPA in conjunction with utilizing a crypto tax calculation service, like Bitcoin.Tax.

The end of the tax season is quickly approaching, and this last episode in our current podcast series answers and explores some of the common questions with using Bitcoin.Tax for crypto taxation. Join us with Colin Mackie, CEO and Founder of Bitcoin.Tax, where we answer these questions and talk about some upcoming features of our software.

Cryptocurrency capital gains can be an extra source of income, however, these gains are taxed and those taxes can become costly for many crypto traders. In this episode, we speak with Drew Kernosky of Archer Tax Group, to discuss ways to mitigate these tax burdens including crypto-backed loans and qualified opportunity zones, which can defer gains until 2026.

A lack of guidance has left crypto traders unsure of their reporting obligations for foreign accounts. We are joined with Andrew Gordon, a tax attorney, who understands the ins and outs of foreign account reporting in relation to cryptocurrency trading. Andrew discusses FBAR, FATCA, penalties associated with not reporting, and to answer the question - do cryptocurrencies have to be included in these reports?

Most cryptocurrency investors have some experience with ICOs. Even still, there are a lot of complexities involved in investing in and trading with ICOs. Marc Boiron has a vast amount of experience with ICOs, from both the investor and issuer point of view and joins us today to share his unique perspective on ICOs, STOs, and where he sees the future of both going.

Margin trading with cryptocurrencies is common practice for many in the world of crypto. Jon Stead, a cryptocurrency CPA who specializes in margin trading accounting, joins us to give an in-depth overview of margin trading, the tax implications, and strategies for being a successful margin trader.