Multi-State – How Bitcoin Is Taxed

One of the most common questions I get from investors is how crypto investments like bitcoin are taxed. There seems to be a great deal of confusion, perhaps because of the different names people use for this new asset class. Continue reading Multi-State – How Bitcoin Is Taxed

Ohio – US Retail Giant Overstock to Use Bitcoin to Pay Its Taxes in Ohio

Overstock will cover commercial activity taxes (CAT) with Bitcoin starting February, using the recently launched cryptocurrency taxpayer platform, OhioCrypto.com. https://cointelegraph.com/news/us-retail-giant-overstock-to-use-bitcoin-to-pay-its-taxes-in-ohio

Ohio – Ohio Accepts Bitcoin For Tax Payments OhioCrypto.com

What is OhioCrypto.com? Under the leadership of Ohio Treasurer Josh Mandel, taxpayers are able to pay their state business taxes with cryptocurrency for the first time anywhere in America.  Ohio has become the first state in the United States, and Continue reading Ohio – Ohio Accepts Bitcoin For Tax Payments OhioCrypto.com

Ohio – State Set To Become First State To Allow Use Of Bitcoin To Pay Taxes

Starting this week, Ohio will allow businesses to use bitcoin to pay taxes, State Treasurer Josh Mandel said in a Wall Street Journal article published today. Mandel’s office is planning to make a public announcement Monday. “Beginning this week, Ohio businesses will Continue reading Ohio – State Set To Become First State To Allow Use Of Bitcoin To Pay Taxes

Multi-State – INSIGHT: The Sales Tax Implications Of Accepting Virtual Currency As Payment

I. Introduction This article is part two of a three-part series. It has been several months since part one, and the worldwide obsession with Bitcoin and other virtual currencies has not slowed down. In part one, we provided a factual Continue reading Multi-State – INSIGHT: The Sales Tax Implications Of Accepting Virtual Currency As Payment

Multistate – Understanding Bitcoin And Taxes

As cryptocurrencies like Bitcoin become more mainstream, the Internal Revenue Service is paying close attention. In fact, from the close of 2018 and onward, we’re looking at monumental changes in how the IRS is considering these technologies, at least financially. Continue reading Multistate – Understanding Bitcoin And Taxes

New York – The New York State Department Of Taxation And Finance Excused Bitcoin Users From Paying Sales Tax

SALT Report 3533 – In the memorandum the Department states that convertible virtual currency, such as Bitcoin, are considered intangible personal property for sales tax purposes.  Therefore purchases or use of Bitcoins are not subject to sales tax.  However, the Continue reading New York – The New York State Department Of Taxation And Finance Excused Bitcoin Users From Paying Sales Tax

Multistate – Virtual Currency And Sales Tax

SALT Report 3329 – On April 8, 2014 congressman Steve Stockman introduced the “Virtual Currency Tax Reform Act”.  The IRS deemed virtual currencies (Bitcoin) as property requiring capital gains reporting.  This Act is intended to change the status of virtual Continue reading Multistate – Virtual Currency And Sales Tax