As an investor in cryptocurrency, we have extensive
knowledge of the various types of cryptocurrency, and what each one is designed
to do, and as an accounting professional we keep up on the tax
implications of Bitcoin and Cryptocurrency accounting. However, even with the
gain in popularity with-in the last year, the idea of ‘Bitcoin’ is foreign to
most, including the IRS!
They have committed resources to learn, regulate, and gain
an understanding of what ‘Cryptocurrency’ should be classified as, capital asset with capital gains, like stocks, or assets and taxed
at individual rates. All they know is with potential for large gains, comes
their chance to get big tax dollars, so it’s critical to accurately
report earnings!
At
Arizona Tax Advisors, we can help you navigate these waters. From basic
guidance to helping to determine gains, we are here to help!
Call
us – 602-274-7770
Email
Id - info@arizonataxadvisors.com
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