BitcoinTaxes Crypto Taxation Series

Kyle Mackenzie, a CPA, and the CFO and partner of the crypto division at Metrics Chartered Professional Accounting, joins the show to discuss all things crypto taxation in Canada. Kyle goes over the basics of Canadian crypto taxes, and runs through some of the more frequently asked advanced questions he encounters as well, including the tax implications of staking, bridging crypto, and ETH to ETH2 – plus, the CRA’s distinction between business and capital gains, superficial losses, and how both of these affect your bottom line. If you are looking for Canadian crypto tax guidance from an absolute pro, don’t miss this episode! Talk.Bitcoin.Tax (03:31): The Basics – Buying Crypto, Selling Crypto, and Crypto to Crypto (03:57): What are Superficial Losses? (06:17): Business Income or Capital Gains? (10:49): Crypto Staking (12:12): Deducting Mining Expenses (17:42): How The CRA Views Crypto Bridging and Swaps Episode Page: https://talk.bitcoin.tax/canada-crypto-taxes-explained/

Matt Metras, an Enrolled Agent at MDM Financial Services and overall crypto tax expert, joins the show to discuss crypto tax loss harvesting in the current bear market, touching on how to handle specific coins like LUNA. Matt also outlines the main points of the recent bi-partisan crypto bill: a De Minimis exemption on crypto spending, removing the tax on staking and mining rewards, and transferring oversight of crypto from the SEC to the CFTC. More info on Talk.Bitcoin.Tax   (01:36): Crypto Tax Loss Harvesting (06:00): Harvesting Luna Losses (09:34): The US Crypto Bill Explained (10:25): Crypto De Minimis (12:39): No More Mining and Staking Tax? (18:34): The CFTC Regulating Crypto

Matt Metras, an Enrolled Agent at MDM Financial Services and overall crypto tax expert, joins the show to discuss and demystify the popular question: is crypto staking taxed? Matt outlines the recent Jarrett case that had plenty of crypto enthusiasts asking the question! Plus, Matt answers crypto tax questions from Reddit users: casualty losses, FBAR and FATCA, Roth IRAs, the Economic Substance Doctrine, how to handle 1099s, a potential (but unlikely) De Minimis, wash sales, fair market value versus zero cost basis for airdrops and NFTs, and more! Talk.Bitcoin.Tax   (01:55): The Jarrett Case’s Effect on Staking Taxes (07:30): A New De Minimis Bill? (10:05): The Current Status of Crypto Wash Sales (14:53): Constructive Receipt – When Do You Own Airdrops? (22:32): Are NFT Airdrops Reportable Income? (24:42): Crypto Casualty Losses – Lost, Stolen, Hacked Crypto (29:24): Dealing With 1099s From Crypto Exchanges (38:05): FBAR and FATCA – How To Report

The end of 2021 has brought many potentially impactful changes to the world of crypto and crypto taxes. From wash sales and tax loss harvesting to blockchain swaps and donations, there are some potentially huge upheavals in the crypto tax world coming in 2022 and beyond! Don’t be left facing the consequences of these huge changes by being uniformed. Tune in to hear one of the best crypto tax lawyers in the business, Andrew Gordon of Gordon Law Group, discuss these changes and offer his expert opinion on how to handle them moving forward. You can’t afford to miss this episode! Episode Highlights (00:55): The Infrastructure Bill and Build Back Better BIG Crypto Changes (06:45): Are Wash Sales Going To Apply To Crypto Now? (19:07): Blockchain Swaps Could Definitely Be Taxable Episode Quote: > On Blockchain Swaps: “I can tell you that the more conservative position is to treat it like a taxable event, like an actual conversion – a disposition of one asset and purchase of another.” Full-Service Crypto Tax Prep Service: > Bitcoin.Tax Full Service

Matt Metras, an Enrolled Agent at MDM Financial Services and overall crypto tax expert, joins the show to outline what’s going on with the recent infrastructure bill and how cryptocurrency will be affected. We discuss the potential effects of the bill on decentralized finance, cryptocurrency miners, and centralized exchanges. More @ Talk.Bitcoin.Tax Timestamps: (01:23): A Summary Of The Infrastructure Bill (03:09): Cryptocurrency Tax (04:44): The Cryptocurrency Provision (07:19): DeFi and KYC Reporting (09:48): The Current Status Of The Infrastructure Bill    

(Talk.Bitcoin.Tax) The IRS is enforcing the laws of cryptocurrency taxation more fervently than ever. Civil and criminal enforcement of cryptocurrency tax evasion is increasingly common due to the wide-scale participation of crypto exchanges, as well as increasingly powerful blockchain analysis tools. Christopher Wajda, a former IRS ASAC (Assistant Special Agent in Charge) of the Criminal […]

DeFi, or Decentralized Finance, has taken the crypto world by storm. DeFi isn’t necessarily new, but it’s popularity amongst investors has certainly skyrocketed. Andrew Gordon, an attorney and CPA who concentrates on crypto and taxes joins the show to discuss the taxable implications of DeFi events. In this episode, we discuss how liquidity swaps, liquidity […]

Matt Metras, an Enrolled Agent at MDM Financial Services and overall crypto tax expert, joins the show to talk about the recently added IRS FAQ Question 5. More @ Talk.Bitcoin.Tax More Information: IRS Crypto Tax FAQ

Receiving an official IRS notification of an audit can lead many to panic and stress about the unknown that lies ahead. However, an audit defense can be successfully handled with a level-headed and cerebral approach. Alex Kugelman joins the show and outlines what a cryptocurrency audit looks like, and the best practices for handling one properly. Alex walks us through the various factors that could trigger a crypto audit and answers some common questions crypto traders should know the answer to.   Episode Highlights 00:52: The Basics – What Triggers An Audit 03:37: What To Do If You Receive A 1099-K 19:30: Benefits of Audit Defense Specialists 24:25: Crypto Audit FAQs Sign Up Now For Crypto Audit Defense: > Bitcoin.Tax Audit Defense

Connie Gallippi, CEO of the first Bitcoin non-profit BitGive, and Matt Metras, a cryptocurrency tax pro, join the podcast to discuss the many benefits of donating cryptocurrencies. They walk us through the potentially massive tax deductions that can result from donating crypto, which organizations accept crypto donations, and how donating is a major way to advance crypto adoption. More @ Talk.Bitcoin.Tax Saving Money By Donating Crypto Blog Post Episode Highlights: (03:35): The First De-Phi Conference For Good (12:23): The Basics of Crypto Taxation (14:36): Organizations Accepting Crypto Donations (22:10): Benefits of Donating Cryptocurrency (25:50): Taxable Write-Offs (37:15): BitGive’s Current Campaigns Relevant Links: > The De-Phi (Decentralized Philanthropy) Crypto for Good Conference 2020 (Full Conference) > Donate Crypto via GiveTrack

Attorney Zach Ziliak and Tax Attorney Andrew Gordon join the show to discuss the current Bitcoin Bull Market and why it’s different than the notorious 2017 Bitcoin price spike. We discuss the incoming Biden/Harris administration, and what it could potentially mean for cryptocurrency policies. Plus – Andrew Gordon shares some cryptocurrency tax planning strategies that crypto enthusiasts can utilize before the end of the year. More @ Talk.Bitcoin.Tax (04:23): The Skyrocketing Price of Bitcoin (10:40): Post 2017 Bitcoin Infrastructure (26:00): Biden Administration & Crypto Policies (35:53): Cryptocurrency Tax Planning Strategies (49:11): Final Thoughts & Crypto Wishlist

Alex Kugelman and Matt Metras join the show to give us an update on the recent issues in cryptocurrency taxation, including the 2020 round of IRS educational letters, DeFi and IRS compliance, the important crypto update to the Draft Form 1040, taxing crypto staking, and challenges to IRS cryptocurrency taxation law. More @ Talk.Bitcoin.Tax Highlights: (01:52): The 2020 IRS Educational Letters (07:32): DeFi and IRS Compliance (10:46): Future of Cryptocurrency Taxation (12:50): A Crypto De Minimus Exemption (15:11): Draft Form 1040 Crypto Question (22:00): Taxing Crypto Staking (29:37): Challenging the IRS (34:41): Crypto Tax Predictions

Adam Reeds, CEO of the crypto loan and savings platform Ledn, discusses Bitcoin loans and cryptocurrency savings accounts. Episode Information: https://talk.bitcoin.tax/bitcoin-and-crypto-loans/

Michael Shaulov, CEO & Co-Founder of Fireblocks, joins the BitcoinTaxes Podcast to discuss security as it relates to blockchain technology and cryptocurrency, and the unique challenges that exist in the space. More Info @ Talk.Bitcoin.Tax

Connie Gallippi, founder of BitGive, joins us to discuss how she is harnessing the benefits of blockchain technology and cryptocurrency in order to help those in need during the COVID-19 crisis. More Information @ Talk.Bitcoin.Tax!

Cryptocurrency tax lawyer Andrew Gordon discusses the benefits of utilizing a crypto tax professional from the Bitcoin.Tax full tax preparation service. More Information @ Talk.Bitcoin.Tax!

Brad Kam of Unstoppable Domains discusses decentralized blockchain web domains- how they combat censorship and create convenient crypto payment gateways. More info @ Talk.Bitcoin.Tax!

Our guest today is Andrew Gordon. Andrew is a cryptocurrency tax lawyer and the managing attorney of Gordon Law Group. Andrew concentrates on tax controversy and compliance, Internet law, FTC Defense, and corporate litigation. Andrew is here today to discuss the economic relief measures that the government has enacted as a response to the coronavirus crisis. We discuss what role cryptocurrency plays in this relief response. In addition, Andrew updates us on any changes to FBAR and FATCA filing since his last time on the show.

Alex Kugelman, a tax controversy lawyer with expertise in cryptocurrency and IRS audits, goes in-depth about what could happen in a potential crypto audit, revisits compliance post-2019 IRS FAQ update, and gives us his take on the effect of COVID-19 on crypto taxes.   All Episodes on Talk.Bitcoin.Tax  

Alex Kugelman, a tax controversy lawyer with expertise in cryptocurrency and IRS audits, goes in-depth about what could happen in a potential crypto audit, revisits compliance post-2019 IRS FAQ update, and gives us his take on the effect of COVID-19 on crypto taxes.   All Episodes on Talk.Bitcoin.Tax