NFT CPA l S2 Citizen #1286

(CPA) I help NFT traders and project founders better understand their tax situations. Not Financial Advice. S2 NeoTokyo Citizen WGMI

[NFT CPA l S2 Citizen #1286 @NFT_CPA]

New to the NFT world in 2021? Perhaps you've been crushing it this year in TopShot, BAYC, Crypto or any of the other projects that mooned. Now you're swimming in cash (ETH) but a little worried how this is going to affect your taxes. I'm here to help with all those tax questions.

[NFT CPA l S2 Citizen #1286 @NFT_CPA]

@AtownBrown 😳🤣

[NFT CPA l S2 Citizen #1286 @NFT_CPA]

@AtownBrown @DJohnson_CPA @TheNFTCPA Personal NFT trading handled somewhat similar to stock trading. Comparing proceeds at sale to cost basis to determine LT or ST capital gains/losses.

[NFT CPA l S2 Citizen #1286 @NFT_CPA]

@AtownBrown @DJohnson_CPA @TheNFTCPA The income amount would be FMV at the time you received it. If you received it for business, income would be included in sch C income. If personal airdrop/raffle, it would ordinary income.

[NFT CPA l S2 Citizen #1286 @NFT_CPA]

@AtownBrown @TokenframeNFT We can discuss this next time we chat lol

[NFT CPA l S2 Citizen #1286 @NFT_CPA]

@responsiboul Just sent you a DM.

[NFT CPA l S2 Citizen #1286 @NFT_CPA]

Did crypto dump due to people selling to pay their taxes?

[NFT CPA l S2 Citizen #1286 @NFT_CPA]

@andwhew @neotokyonewstv 🤙🏼

[NFT CPA l S2 Citizen #1286 @NFT_CPA]

@Avstn21 🤙🏼

[NFT CPA l S2 Citizen #1286 @NFT_CPA]

@goodguyaugust @neotokyonewstv 🤙🏼

[NFT CPA l S2 Citizen #1286 @NFT_CPA]

@tuccinomics 🤙🏼

[NFT CPA l S2 Citizen #1286 @NFT_CPA]

Where is my S2 family at?

[NFT CPA l S2 Citizen #1286 @NFT_CPA]

@readyplayerh @SteadyStackNFT Let’s go. S2 here 🤙🏼

[NFT CPA l S2 Citizen #1286 @NFT_CPA]

@PeekabooPunkz Done

[NFT CPA l S2 Citizen #1286 @NFT_CPA]

Companies are starting to accept crypto for payment. Be mindful that paying someone with crypto will trigger a taxable event for you.

Don’t pay more tax than you have to 🤷🏻‍♂️

[NFT CPA l S2 Citizen #1286 @NFT_CPA]

@LeBoomington TY ser 🤝

[NFT CPA l S2 Citizen #1286 @NFT_CPA]

Some good news for all the $LOOKS stakers on this Wednesday evening.

[Blockworks @Blockworks]

BREAKING: IRS will not tax unsold staked crypto as income

Via @caseywagnerr

[NFT CPA l S2 Citizen #1286 @NFT_CPA]

@POTUSdotETH 🤝

[NFT CPA l S2 Citizen #1286 @NFT_CPA]

@zanshake Does S2 identity count? Patiently waiting until us S2s can upload a citizen.

[NFT CPA l S2 Citizen #1286 @NFT_CPA]

@ZssBecker Taxplanning.eth