If you work in finance then get your ass to this #bitcoin conference in Denver
It could change your investment philosophy and career
Hosted by the @SpaceDenver and @wyattorourke_
Happy to lend some thoughts on it:
What we know?
1. It's for payments received in the course of a trade or business, irrespective if you're a sole-prop, freelancer, s corp, or a full fledged corporation.
2. For payments received from another US person/entity. Offshore DAOs and foreign entities need not apply.
3. The IRS/FinCen does not care about your airdrops or staking rewards as an individual, but yes as a business.
4. The IRS has not published regs yet, so still up in the air with regards to IRS reporting for now. However FinCen (the bank secrecy act) was not updated by the Infra Bill which leaves cryptocurrency tax compliance as clear as mud as Form 8300 is sent to both the IRS and FinCen.
5. We’re monitoring the situation with our tax law partners at Darien Advisors, but currently in a holding pattern as we're awaiting the IRS. Keep track of your transactions and await further guidance.
It's great to see some activity back on the timeline. Welcome back. A few of us stuck around to build while you were away.
Meet @beam_cash. Beam instantly offramps your crypto into USD when you need to.
https://t.co/ftA7nirjVi