cryptocurrencies

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Should Cryptocurrency Consulting Be the Next Phase in Your Accounting Career?

Think the hype over cryptocurrency has reached its fever pitch? Think again—the crypto craze has only just begun. Businesses are increasingly viewing cryptocurrency as a viable investment. New tokens are gaining steam, and Bitcoin, the OG crypto cash, continues to trade at a frenzied pace. More than 200,000 Bitcoin transactions occur every day, and investors like […]

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The AICPA’s Twitter Totally Got Hacked by Bitcoin Scammers

So, I’m the first to admit I don’t know shit about blockchain, nor do I care. But I do know that public accounting firms are anxious to appear far more tech savvy than lil’ ol’ me and have been wasting a lot of time and effort talking about the transformative powers of blockchain. We’ll include […]

IRS Reminds Everyone to Report Their Crypto Trading Income and If You Don’t, Hey, Maybe You’ll Go to Jail

As we’ve discussed, some cryptocurrency traders have only recently learned that taxes are a thing. To make matters worse, some traders who made a lot of money wound up fully back in the market only to find themselves holding positions that now have huge paper losses. This situation is precisely the worst possible one to […]

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Some Cryptocurrency Traders Opting for ‘Screw It’ Tax Compliance Approach

Here’s an amusing New York Times column by Kevin Roose that features a rafter of cryptocurrency traders distressed about their tax situations. As we noted earlier this year, some crypto traders got mad/sad upon learning that taxes were a thing they had to deal with. And according to Laura Walter, aka Crypto Tax Girl, some […]

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Cryptocurrency Traders Learning That Taxes Are a Thing

Here’s an amusing MarketWatch story by Shawn Langlois on how cryptocurrency traders, presumably having no concept of income, are all bent out of shape about the taxes they owe on their trading gains. The lead kvetcher, latex_man, posted a thread entitled “I just did my taxes and it turns out I lost almost everything” and […]