Working in the Washington, D.C., area, no matter who’s in the White House, I’m often thrust into conversations about tax policy. My clients tend to be more aware of various political issues and they’r...
Tag: Taxes
Accepting Bitcoin for State Taxes Is Now Legal in Colorado
Governor Jared Polis anticipates that his state will embrace bitcoin and other cryptocurrencies for use in taxation by the summer. In an interview with CNBC on Tuesday, Colorado Governor Jared Polis i...
Colorado State to Permit Payment of Taxes in Crypto this Summer
Colorado State Governor Jared Polis has revealed that it plans to let its residents pay their taxes in digital currencies as early as this summer. Speaking in an interview with CNBC, the governor said...
Crypto Taxes You Should Be Aware Of This 2022 – The IRS Breathes Down Your Neck
If you’ve gone deep in the current crypto craze, you might need to prepare your heart once you do your crypto taxes. Crypto may have started out as a humble money gig, but with its total value at nea...
How To Write Off Legal Fees On Your Taxes
Since 2018, it’s been tougher to deduct legal fees, and some plaintiffs in contingent fee cases are taxed on their gross recoveries, not net after legal fees. Some call it a new tax on legal settlemen...
Colorado to accept crypto payments for state taxes
TL;DR Breakdown • Colorado sees a future for decentralized commerce.• Governor of Colorado equates payment in crypto with TDCs. Colorado is ready to embrace crypto payment systems. However, the US reg...
Colorado residents can now pay their taxes in crypto
As a sign of the mainstream public’s continued adoption of digital assets, Governor Jared Polis of Colorado, a state in the western part of the United States, disclosed that they would start accepting...
Colorado to Accept Crypto for State Taxes From This Summer
Key Takeaways Colorado will accept crypto for payment of state taxes by the summer, Jared Polis has confirmed. An intermediary will convert crypto payments to U.S. dollars. Wyoming and Arizona are als...
How To Bequeath A Vacation Home To Your Kids Without Strife
Happy family dining and tasting wine at vacation home getty Dividing your assets among your offspring is always a fraught question, especially if real estate is at issue. For tips on how to do this wi...
This Week [In] Crypto: Billions Recovered, Wash Trades, Trillion Rubles in Taxes
Did you miss anything important [In] Crypto this week? No worries, we got you! We saw everything from recovering billions of dollars to white hat hackers saving Coinbase to Samsung’s crypto wallet ann...
Missouri Lawmaker Introduces Bill To Exempt Crypto From State Property Taxes
Proposed legislation potentially aiding cryptocurrency adoption continues to pop up in statehouses across the United States. This week, Missouri State Representative Phil Christofanelli introduced a b...
Super Bowl betting to top $7.6 billion. Don’t forget taxman if you win
Algerina Perna | Baltimore Sun | MCT | Getty Images If you plan to drop money on a Super Bowl bet this weekend, remember the IRS will be looking for its cut of your winnings. Americans are expected to...
Russian Government Eyes $13 Billion in Taxes From Crypto Economy – Taxes Bitcoin News
Authorities in Moscow expect to collect more than $13 billion as tax payments from the Russian crypto market, according to a government document quoted by media. The estimate comes as Russian institut...
Kazakhstan president calls for hefty taxes on crypto miners
Crypto mining activities in Kazakhstan have skyrocketed over the past few months, with the country now ranking as the second-largest Bitcoin miner by network hash rate. The president of Kazakhstan, Ka...
Spanish Treasury Postpones the Definition of Crypto Tax Declaration Models Until Next Year – Taxes Bitcoin News
The Spanish treasury ministry has announced it will postpone the establishment of the complete framework for declaring taxes related to cryptocurrency assets until 2023. While the Spanish government h...
Kazakhstan proposes power price hikes and taxes targeting crypto miners
The Kazakh government is considering a three-pronged proposal designed to make crypto miners pay much more for operating in the country, which could make Kazakhstan less attractive to the industry. On...
Crypto Taxes Are Complicated, But Changes Might Be Coming
Crypto taxes have been, and continue to be, a major obstacle to wider adoption for investors, traders, and users of cryptocurrencies. Since in the United States the only regulatory agency to have issu...
60,000 Indians Petition Government to Lower Crypto Tax to Avoid ‘Devastating Impact’ – Taxes Bitcoin News
Many Indians have signed a petition for the government to introduce reasonable crypto tax policies. This week, India’s finance minister, Nirmala Sitharaman, proposed taxing crypto income at 30%. India...
The Battle to Change How the IRS Taxes Mining and Staking
Two Tezos stakers sued the IRS to get back taxes paid on property they say they created through staking. The IRS offered to pay them back but didn’t commit to clear policy guidance. The stakers will n...
What the IRS Court Case Over Crypto Staking Taxes Really Means
In brief A couple sued the IRS after they were denied a refund request for taxes paid on Tezos staking rewards. After the lawsuit started, the IRS offered a refund. But the plaintiffs now want a more ...
Crypto taxes, the case of the IRS and the staking Tezos
The IRS has offered a refund to a US couple who paid taxes for Tezos that were never sold but were created and obtained through staking. This development between the US tax collection agency and the ...
No, IRS may not write off taxes on crypto staking rewards so easily, claim experts
Crypto news was abuzz recently with speculation of the U.S Internal Revenue Service (IRS) writing off the tax on income generated from unsold staked cryptocurrencies. Many, including crypto influencer...
After a Court Battle, the IRS Might Not Impose Income Taxes on Unsold, Staked Crypto
The United States Internal Revenue Service (IRS) could stop taxing digital assets obtained through staking. The agency added that it will refund the tax paid by a Nashville couple on tokens they had e...
In Huge Precedent, IRS Says It Will Not Tax Unsold, Staked Crypto
In court filings expected to made public Thursday, the IRS declared it would refund $3,293 in income tax (plus statutory interest) to a Nashville couple who had paid the amount on 8,876 Tezos tokens t...
Thailand Relaxes Tax Rules for Crypto Investors, Scrapping 15% Withholding Tax – Taxes Bitcoin News
Thailand has relaxed tax rules for cryptocurrency investors, scrapping its planned 15% withholding tax. “The revenue department did a lot of homework and reached out to crypto operators as well to get...
How Suburban Sprawl’s Single-Family Home Zoning Limits Housing Supply
America’s suburbs are sprawling again. Last year, single family housing starts rose to 1.123 million, the highest since 2006, according to the National Association of Home Builders, however, opt...
Biden’s coming for your crypto, stricter rules, and higher taxes on the way?
Last week, under a “national security memorandum,” the Biden administration said it would analyze crypto with the intent to build a regulatory framework. The threat of stricter crypto regulation is no...
Biden’s Bitcoin Regulations And The Threat Of Higher Taxes For Crypto
What will President Biden say about Bitcoin and digital assets? It’s hard to find his comments on … [+] it. But next month, the market will know exactly what he thinks about it. KMR Images...
Jeopardy Champ Amy Schneider Faces Big Taxes On 40 Wins
Jeopardy Getty Images It can be mesmerizing to watch Jeopardy! especially when someone you are rooting for is doing well, is super smart, and makes you think. That was so with Amy Schneider, but her 4...