Cryptocurrency has become a significant part of many investment portfolios, offering both opportunities and challenges. One of the critical challenges is ensuring that these digital assets are included in your estate plan. Proper estate planning for cryptocurrency is essential to ensure that your assets are transferred smoothly to your beneficiaries and to avoid potential legal complications. Here's a comprehensive guide on how to incorporate cryptocurrency into your estate planning.
Cryptocurrency has revolutionized the financial world, offering new opportunities for investment, spending, and innovation. However, with great opportunity comes significant responsibility, particularly in the realm of tax compliance. As the popularity of digital currencies like Bitcoin, Ethereum, and others continues to grow, so does the scrutiny from tax authorities. Understanding what constitutes a taxable event and how to stay compliant is crucial for any cryptocurrency enthusiast.
The IRS announced on March 21, 2023 that they are soliciting feedback in advance of new guidance on the tax treatment of NFTs as collectibles.
Cryptocurrencies continue to be a growing asset class, but with limited guidance from the IRS and treasury--and differing points of view on whether certain forms of cryptocurrency are assets, income, or securities--many are left wondering how to tax and report them properly.
In the cryptocurrency world, NFTs are the latest craze. But what exactly is an NFT?
We’ve all seen the stories about bitcoin over the past few years—the triumphs and the pitfalls. For many investors, this cryptocurrency has raised a lot of questions and a lot of curiosity. Is bitcoin just a “scam” that will end in a meltdown? Or does it have the potential to revolutionize financial markets as we know them?
If you’re one of the many who are curious about bitcoin, read on for some of what you should know about the emerging world of cryptocurrency.
With the rise of cryptocurrency, the IRS and US government have been faced with questions surrounding how to define, regulate and report this new form of currency. Federal banking regulators question whether cryptocurrency firms are in the business of banking, and according to the SEC, some, but not all, cryptocurrencies are considered to be securities.
