In a recent letter to the IRS, the AICPA (American Institute of Certified Public Accountants) asked if a “de minimis” rule could be implemented for crypto, which would exclude all small crypto transactions with gains less than $200 from capital gain taxation
We're excited to launch the first phase of US dollar (Fiat) trading for approved corporate customers, followed by all qualified customers as we roll out additional phases. See why it's kind of a big deal: https://t.co/a3KXXxgNFn
Good regulations are good, bad regulations are bad. Sound too simple, right? But I still constantly get asked, do you like “regulation”, as in one word/entity. Gotta look a little deeper.
If you receive crypto as payment, you need to recognize ordinary income equal to the fair market value of the coins on they day that you received them, and that amount then becomes your basis, which you will use to calculate capital gains if you later sell/trade/use the coins
If you’ve ever received crypto as payment, sent crypto to a friend, used crypto to purchase something, received crypto from a friend, gifted crypto, etc. (basically anything besides trading), make sure to keep track of those transactions. It’ll make your taxes so much easier.
In @FinancialReview: "Moving beyond trials and into commercial deployment of the Power Ledger energy trading platform in a historical trading market like Chicago is a major opportunity".
https://t.co/L4awi7q7ZL