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Last Minute Tax Planning Strategies for Bitcoiners image

Last Minute Tax Planning Strategies for Bitcoiners

Bitcoin has had a good year of publicity and a solid last quarter of growth. Whether you are a hard core Bitcoin miner or just a casual trader, it is likely that you’ve racked up substantial gains in 2013. There are just a few weeks left in the tax y...

Declaring Bitcoin Income Part 3- Bitcoin As An Asset image

Declaring Bitcoin Income Part 3- Bitcoin As An Asset

This is the third part of a multi-part series that will discuss how to declare Bitcoin income on US personal or business income tax returns. What follows are my professional opinions and should not be construed as tax or accounting advice. Instead, t...

KryptoTax Review image

KryptoTax Review

With the start of a new year comes the start of a new tax filing season in the United States. After an exciting and volatile 2013, many US taxpayers find themselves with substantial Bitcoin related gains (or losses) to report, but not the resources o...

What If I Don’t Report My Bitcoin Income? image

What If I Don’t Report My Bitcoin Income?

What if you don’t report all of your Bitcoin gains on your US tax return? You must have at least considered it by now. How would the IRS know? I get this question from clients at least as often as I see it in print. It is a tempting proposition: last...

Of Bitcoin and EBITDA and Micropayments, oh my! image

Of Bitcoin and EBITDA and Micropayments, oh my!

EBITDA? Micropayments? Bitcoin? What? EBITDA [i] is simply the Earnings that a company has Before Interest, Taxes, Depreciation, Amortization. It is in essence a true representation of a company’s earnings power. How much money did the company make i...

HMRC Publicize Pro Bitcoin Stance image

HMRC Publicize Pro Bitcoin Stance

A recent publication from HMRC (Revenue & Custom Brief 09/14) shows that HMRC and the UK are favourable towards Bitcoin businesses and the emerging Crypto-currency economy. From summer of 2013 there has been concern as to whether HMRC (Her Majesty’s ...

Bitcoin Taxation: Understanding IRS Notice 2014-21 image

Bitcoin Taxation: Understanding IRS Notice 2014-21

Written By: Christopher Rajotte, Andrew Ittleman, and Mitchell Fuerst, Fuerst Ittleman David & Joseph, PL, Miami, Florida From the recent collapse of the major bitcoin exchange, Mt. Gox, to the alleged identification of Bitcoin’s creator in Californi...

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