Ryan

#bitcoin | Tax Policy | Digital Art

[gypsielou @gypsielou]

What crucial part did they play? Was it mass adoption? Nope that was @CryptoKitties. Contract coded artists royalties? Nope that was @powerdada. Culturally relevant collectibles? #RarePepes. On-chain generative art? @mooncats. Rocks are just a speculative asset with attached jpg.

[Ryan @0xRyan_]

@rawmilkmen Check DMs

[Ryan @0xRyan_]

@rawmilkmen Ordered Nov 1, still no milk

[Ryan @0xRyan_]

@rawmilkmen you guys done with deliveries?

[Aurora Intel @AuroraIntel]

Egypt has reportedly sealed Rafah Crossing with concrete blocks

[Maya Zehavi @mayazi]

The reason I believe in crypto is that bizarre notion of “techno optimism”. Yeah, it’s been distorted with branded negligent improvements the barely effect our lives, but anytime I zoom out & review the real challenges that face society, I’m more confident we need a global infra

[Ryan @0xRyan_]

@NFTArtCritic @Allie_Ruiz That is not best practice. Out of all the grey area in crypto tax, this area seems pretty clear cut.

I would NEVER recommend any of my clients to take this position.

[Ryan @0xRyan_]

@NFTArtCritic @Allie_Ruiz 1. I don’t know of any tax professionals that disagree with this position (airdrops = OI)

2. It’s very easy to determine the FMV of a highly liquid token at launch. 👇

[Ryan @0xRyan_]

@NFTArtCritic @Allie_Ruiz Agree on that ^ BUT If that NFT was airdropped to you when the FMV was 50k you’d have OI of 50k.

If you then sold it for 10k and had no other activity you’d be in a bind bc you still have to pay tax on that 50k of OI but can only deduct 3k of cap loss in that yr.

[Ryan @0xRyan_]

@NFTArtCritic @Allie_Ruiz With larger amounts this could get tricky if your net capital loss is > than the $3000 limitation.

The 100$ is still OI & and the 70$ loss is still a cap loss

[Ryan @0xRyan_]

The 51¢ gas excise tax in California is absolutely insane.

How can politicians say they care about everyday people while also supporting such a regressive tax?

https://t.co/YV4SWI2Ouu

[𝕁𝕠𝕤𝕙 𝕁𝕒𝕣𝕣𝕖𝕥𝕥 @nohardforks]

I've spent almost two years pressing my argument that my Tezos staking rewards are not taxable income until sold.

First, I petitioned the IRS directly. It’s thorough and you can read it here: https://t.co/0Kq9eiydFI

(1/6) 🧵

[Ryan @0xRyan_]

https://t.co/vgdVDLknWz

[Ryan @0xRyan_]

The IRS Criminal Investigation Unit seized $3.5 billion in cryptocurrency during 2021, which accounted for 93% of its criminal investigation seizures

[Ryan @0xRyan_]

https://t.co/x00HsRwq5y

[Opera @opera]

Another one!

Opera will integrate HandShake #HNS in 2022! 🚀 Thanks to an even easier access to decentralized domain naming, our users will enjoy more choice and reasons to explore #web3 https://t.co/shMES9OZ8s

[Ryan @0xRyan_]

@toadswiback @skygolpe @CoinDesk @KnownOrigin_io You quick MF!! I’m jealous!

Snagged one of these a while back🤩

[Ryan @0xRyan_]

This is a perfect opportunity to tax loss harvest that low cap shitcoin you recently bought

[Ryan @0xRyan_]

@CryptoTrooper_ 🔥 🔥

[Ryan @0xRyan_]

@Mweisbrod @critical_group @FrancisSuarez It’s amazing to me that people still believe rent control works