Luminola | E+ | Getty Images It’s natural to fixate on portfolio losses, especially with the S&P 500 down more than 20% for the year. But you may still have gains after years of growth, and ...
Tag: Taxes
European Lawmakers Urge for Crypto Taxation, Use of Blockchain to Fight Evasion – Taxes Bitcoin News
Members of the European Parliament have called for “effective taxation” of crypto assets and “better use of blockchain” to counteract tax evasion. A resolution aiming to achieve both objectives has be...
Here’s how advisors are helping clients reduce their 2022 tax bill
Hero Images | Hero Images | Getty Images Weigh Roth IRA conversions With the S&P 500 Index down more than 20% in 2022, many investors are eyeing Roth individual retirement account conversions, whi...
Celsius Founder Withdrew $10M Before Freeze to Pay Taxes: Report
Details about his withdrawals will soon be submitted in court His transactions are linked to estate planning, according to the FT Less than a week after Celsius founder Alex Mashinsky stepped down as ...
Former Celsius CEO Withdrew $10M Ahead of Bankruptcy to ‘Pay Taxes’
Former Celsius CEO Alex Mashinsky withdrew $10 million in May to pay state and federal taxes and also used it for ‘estate planning.’ A spokesperson for Mashinsky said that he had deposited crypto that...
Celsius Users Still Confused About Taxes as Court Battles Continue – crypto.news
As questions around Celsius restructuring and fund recovery continue, investors continue to express their worries about tax. Following its fall a few months ago, Celsius has constantly been fighting l...
How Donald Trump Paid Less In Taxes Than A Household Earning Only $20,000 Per Year
Donald Trump has taken a lot of heat over the years about his income taxes or, more specifically, his ability to get out of paying what most would consider his fair share. Trump has kept a tight grip ...
Explore Trading with Minimal Taxes on Coinbird
– Advertisement – Even though cryptocurrency is such a volatile asset, many investors choose to trade it. Trading cryptocurrency can provide better returns than traditional investments if ...
U.K. ‘Mini Budget’ Likely Just Dealt Scotland A Fiscal Time Bomb
The flags of Britain, Scotland and European Union wave outside the Scottish parliament in Edinburgh, … [+] Friday, Jan. 31, 2020. Britain officially leaves the European Union on Friday after a d...
ETF popularity hits record number
ETFs are seeing a record surge in popularity. The industry hit a milestone with more than 3,000 ETFs trading simultaneously for the first time ever this month — a 30% increase since December 2020, acc...
IRS Moving on Crypto Holders Who Skip Taxes: 3 Things to Know
The IRS is going after crypto owners who fail to report gains on their taxes. The US tax authority got a court order Thursday enjoining an NYC bank to turn over records on potential crypto tax dodgers...
U.S Court Issues John Doe Summons to Taxpayers that Failed to Remit Crypto Taxes
The United States District Judge, Paul G. Gardephe has granted permission to the Internal Revenue Service (IRS) to issue what is called a John Doe summons on M.Y. Safra Bank to release information abo...
IRS Issues Summons on Users Who Don’t Pay Taxes on…
The U.S. Internal Revenue Service (IRS) has been granted the authority to issue a “John Doe” summons to New York-based M.Y. Safra Bank. The summons forces the bank to hand over information about its c...
South Korea Seizes $184 Million in Crypto Assets From Alleged Tax Dodgers, Reports Reveal – Taxes Bitcoin News
The government in South Korea has seized cryptocurrency worth around $184 million in two years due to tax arrears, according to local media. The authorities in Seoul started confiscating virtual asset...
GOP Calls Warnock’s Parsonage Benefit A Tax Dodge. It Used To Defend It.
General view of the interior of Ebenezer Baptist Church (Martin Luther King church) in King Historic … [+] District getty The National Republican Senatorial Committee blasts on its website ICYMI...
South Korean gov has confiscated 260B won in crypto for non-payment of taxes since 2021
According to regional news outlet mk.co.kr, the South Korean government has seized over 260 billion Korean won ($180 million) worth of cryptocurrencies over the past two years due to tax arrears. The ...
South Korea Seizes $180M in Crypto from Investors That Owed Taxes
South Korean tax authorities confiscated roughly ₩260 billion (approx. $183.5 million) worth of cryptocurrency assets since 2021 due to tax arrears, according to a report by a local media outlet on Th...
IRS secures court approval to probe records of M.Y. Safra Bank, SFOX users over failure to report taxes
On Sept. 22, a U.S. judge granted the Internal Revenue Service’s (IRS) petition that requires M.Y. Safra Bank to submit records of taxpayers who may not have reported or paid taxes on crypto transacti...
Due To Unpaid Taxes, The Republic Of Korea Seized $184 Million (USD) In Virtual Assets
After introducing the guidelines on unpaid taxes in 2022, the tax collecting authorities started to collect the non-payment of taxes by seizing digital assets. The reports state that authorities seize...
Colorado Becomes the First US State Accepting Taxes in BTC and ETH: Report
The authorities of Colorado announced that state residents can now pay their taxes in cryptocurrencies instead of fiat. Among the supported digital assets are the two biggest by market capitalization ...
Indian Government Working on How GST Tax Could Be Applied to Crypto – Taxes Bitcoin News
India’s ministry of finance is reportedly working on how the goods and services tax (GST) could apply to crypto transactions. “A better understanding of how cryptocurrencies fit into our legal system ...
Colorado enables crypto payment for taxes
Colorado residents can now pay their taxes using cryptocurrencies, Axios reported on Sept. 20. According to the report, Governor Jared Polis made this revelation at the Denver Startup Week. Residents ...
Taxes, Inequality And Unemployment Will Weigh On China After Party Congress
Russian President Vladimir Putin, left, speaks to China President Xi Jinping during the Shanghai … [+] Cooperation Organization summit last Friday. (Sergei Bobylev, Sputnik, Kremlin Pool Photo v...
Colorado Residents Can Now Pay State Taxes With Crypto, for a Fee
Colorado allows for crypto tax payments, and they cost less than credit card transactions Taxpayers may be subject to additional taxes down the line Colorado residents can now pay state taxes via cryp...
Thinking about a Roth conversion? If you have an IRA, consider this ‘bear market bonus’
If you’ve been thinking about converting a traditional IRA to a Roth IRA, here’s the good news: This year’s market turmoil may be giving you a golden opportunity to do it. That’s because the stocks an...