Cryptocurreny Tax Planning
Cryptocurrency, commonly referred to simply as Bitcoin, has recently fallen under governmental scrutiny. As the currency rises in popularity it has been used to pay employees and purchase from retailers. The law considers cryptocurrency a capital asset. This popularity has resulted in a renewed focus on clarifying e-currency tax law. The Internal Revenue Service (IRS) will be treating most cryptocurrency transactions as a taxable event and intends to enforce cryptocurrency taxes. Due to this shift, many investors and advocates will now need cryptocurrency tax planning and accountants to avoid hefty fees and excessive witholding. The experienced professionals at Azran Financial provide comprehensive crypto tax services and dedicated Bitcoin accountants so that there are no surprises on tax day!