Eliminate Short-Term Capital Gains for Warp-Speed Bitcoin Adoption

Kirk-Phillips

-+*The burden of managing a tax calculation every time you buy something with bitcoin creates adoption friction that’s counterintuitive to the frictionless nature of bitcoin that we all know and love. (More on this in my article titled, “A Gift from the IRS and the Coffee Problem.”) So what if there was a better way to… Read more »

The Tax Implications of Salaries in Bitcoins

ryan-lazanis

-+*Tech startups are now starting to trend toward paying their staff in a new form of payment: bitcoins. But they might be forgetting about the tax implications of salaries in bitcoins. It’s easy to see the allure of getting paid in bitcoins for those that work in innovative, cutting edge environments, for bitcoins themselves are innovative and… Read more »

Digital Currency Sparking Entrepreneurship in Africa

Danetha Doe Headshot

-+*Civil unrest, bloody wars, poverty and famine, the continent of Africa has been plagued by devastating tragedies over the last several decades. Combined with political corruption, an unstable financial system, and lack of decent educational and business growth opportunities, its citizens are amongst the poorest in the world. Many living on less than one dollar… Read more »

Income Tax Treatment of Virtual Currencies in Singapore

Vishal

-+*Businesses that choose to accept virtual currencies such as Bitcoins for their remuneration or revenue are subject to normal income tax rules. They will be taxed on the income derived from or received in Singapore. Tax deductions will be allowed, where permissible, under our tax laws.

Accounting for Business Transactions in Bitcoin

marty-zigman

-+*Recently, I gave a Webcast presentation to AICPA members to help accounting professionals understand Bitcoin and how to treat it on the general ledger. If you are an AICPA member, the webcast is available for your viewing. In this article, the key points from that presentation are outlined and will help accountants fundamentally understand and… Read more »

The Impact of the IRS Guidance on Bitcoin

Richa Jain

-+*Years after Bitcoin made its way into the world, in March 2014, the IRS has made an attempt to clarify taxation guidelines for convertible virtual currencies (like Bitcoin). The key guideline is to treat bitcoins as property, and not currency. While it is a good move to clarify the government’s stance on Bitcoin taxation to… Read more »