Don't let misconceptions about Cryptocurrency taxes get in the way of you making money on Bitcoin and Altcoins. There have been a lot of false rumors and lots of bad advice being cautioned in the comments that we wanted to address.
With 2017 taxes soon being due, and the IRS making some clarifications on cryptocurrency back in Decemeber, there is still a lot that you need to know to properly track your crypto investments and know what is and what isn't a tax liability.
I am not a tax professional, or a financial advisor so please consult with whoever you deem necessary to CYA when it comes to filing your own taxes. I just wanted to clear the air on some of the tota; BS I have seen people spouting out there.
Forbes Article: https://www.forbes.com/sites/kellyphi...
IRS: https://www.irs.gov/pub/irs-pdf/i1040...
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Interesting article! I've followed and up-voted your post i look forward to your future content!
For info and technical and fundamental analysis of Crypto's, an insight into how the whales manipulate the market and how to get involved in an exciting 12 month millionaire challenge we've recently started, check out @cryptobroye :)
just watched this video this morning great video brother
Wow great post keep it up lots of information thanks 🙏👍👏👏👏👏🎉😃
So much ignorance around related to the taxation of the space; you need to be very careful and get adequate advice from an experienced tax advisor. Unfortunately, not many are experienced as this is a relatively new area within the tax area. There are a number of resources in the Steemit community that help with information.
thanks!
Free tax tool for crypto traders! http://ge.tt/3GCXLdo2 theres also youtube video showing you how to use it
Bitaxx was created to help cryptocurrency investors track there trades by converting BTC amounts in to a more simple usd value. We use the time and date the trade was made to pinpoint the historic BTC value, once this is uncovered we multiply by the BTC trade value to produce a US Dollar value making your life easier. We think investors will use this tool for tax purposes as well as just a tool to simplify trading data. No longer do we have to be in the dark and not know the exact dollar value of our trades. We hope you enjoy this free tool and greatly appreciate any donations!
great resource thanks!
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