The BitcoinTaxes Podcast

Ephraim Olson, a US tax lawyer who specializes in crypto tax law, joins the show to discuss recent IRS guidance on crypto tax staking. The IRS releases sparse guidance on common crypto activities, like staking – oftentimes, this guidance fails to address nuance, and paints with broad strokes. Ephraim joins the show to present an […]

Ephraim Olson, a US tax lawyer who specializes in crypto tax law, joins the show to discuss recent IRS guidance on crypto tax staking. The IRS releases sparse guidance on common crypto activities, like staking – oftentimes, this guidance fails to address nuance, and paints with broad strokes. Ephraim joins the show to present an alternate view on how crypto staking could potentially be treated in terms of taxation. More @ Talk.Bitcoin.Tax

Scams have always been prevalent in the cryptocurrency space, but they are becoming increasingly sophisticated. Alex Johnson, a lawyer with Kugelman Law, joins us to discuss a common sophisticated cryptocurrency scam known as “pig butchering”. Alex explains pig butchering scams in detail, and discusses potential taxable implications of falling victim to a scam. Guest Alex […]

Scams have always been prevalent in the cryptocurrency space, but they are becoming increasingly sophisticated. Alex Johnson, a lawyer with Kugelman Law, joins us to discuss a common sophisticated cryptocurrency scam known as “pig butchering”. Alex explains pig butchering scams in detail, and discusses potential taxable implications of falling victim to a scam. More @ Talk.Bitcoin.Tax

In November 2023, the cryptocurrency trading platform Kraken has started sending specific crypto user data to the IRS. Alex Kugelman, a crypto tax controversy lawyer, joins the podcast to explain who is being targeted, why, and what to do if you are someone who's data Kraken is sharing with the IRS. Episode Link: https://talk.bitcoin.tax/kraken-sending-user-data-to-irs/ More episodes at: talk.bitcoin.tax

In November 2023, the cryptocurrency trading platform Kraken has started sending specific crypto user data to the IRS. Alex Kugelman, a crypto tax controversy lawyer, joins the podcast to explain who is being targeted, why, and what to do if you are someone who’s data Kraken is sharing with the IRS. Guest Alex Kugelman Twitter: […]

The IRS released Revenue Ruling 2023-14 which describes cryptocurrency staking as taxable at the fair market value on the date it was received. Matt Metras joins the show to break down what this ruling means for crypto traders and how it may affect their taxes moving forward.

The IRS released Revenue Ruling 2023-14 which describes cryptocurrency staking as taxable at the fair market value on the date it was received. Matt Metras joins the show to break down what this ruling means for crypto traders and how it may affect their taxes moving forward. Guest Matt Metras Twitter: @EmDeeEm Facebook: @BitcoinTaxesMe Reddit: […]

First time guest Ephraim Olson, a US tax lawyer who specializes in crypto tax law, joins the show to discuss opinion letters. The lack of guidance in the crypto tax space often puts taxpayers in a difficult position. Without official guidance from the IRS, there are a range of crypto activities that would benefit from further clarity. Opinion letters are written by lawyers to take a specific position on crypto tax activity – Ephraim explains how these letters can benefit taxpayers and why more people should be educated about these letters as a potential option to utilize.

First time guest Ephraim Olson, a US tax lawyer who specializes in crypto tax law, joins the show to discuss opinion letters. The lack of guidance in the crypto tax space often puts taxpayers in a difficult position. Without official guidance from the IRS, there are a range of crypto activities that would benefit from […]

Welcome to the fourth episode of our multi-part series on crypto taxation. If you missed, or haven’t yet listened to our first three episodes, we covered the basics of crypto taxation, what is, and what isn’t taxable. Then, we explored like-kind, 1099s, and how to handle margin trading, staking, loans, and NFTs on your taxes. Our […]

Welcome to the fourth episode of our multi-part series on crypto taxation. If you missed, or haven't yet listened to our first three episodes, we covered the basics of crypto taxation, what is, and what isn't taxable. Then, we explored like-kind, 1099s, and how to handle margin trading, staking, loans, and NFTs on your taxes. Our third episode reviewed all things crypto tax audits. In today's episode we explore real-world crypto tax scenarios and how a seasoned crypto tax professional, Andrew Gordon, suggests handling those situations. Andrew discusses the biggest mistakes he has seen crypto taxpayers make, and lets our listeners know exactly how to prevent those mistakes. Episode Link: https://talk.bitcoin.tax/real-world-crypto-tax-scenarios/ (11:01): The biggest mistakes a taxpayer can make (15:01): How to minimize the fees you pay a crypto tax pro (16:10): Can you claim losses on shut down exchanges like FTX? (22:08): Is FIFO the only allowed calculation method?

Welcome to the third episode of our multi-part series on crypto taxation. If you missed, or haven't yet listened to our first two episodes, we covered the basics of crypto taxation, what is, and what isn't taxable. Then, we explored like-kind, 1099s, and how to handle margin trading, staking, loans, and NFTs on your taxes. Today's episode covers all things cryptocurrency audit. Alex Kugelman, a cryptocurrency tax controversy lawyer, joins us to discuss the ins and outs of cryptocurrency audits, how to avoid them, and how to successfully navigate a crypto audit if you do find yourself as a target of the IRS. Episode link: https://talk.bitcoin.tax/crypto-audit-irs/ Timestamps (02:04): The causes and triggers of a cryptocurrency audit (06:36): What to expect in a cryptocurrency audit (18:25): Is the IRS treating transfers as taxable events? (47:30): How lenient is the IRS with their payment plans?

Welcome to the third episode of our multi-part series on crypto taxation. If you missed, or haven’t yet listened to our first two episodes, we covered the basics of crypto taxation, what is, and what isn’t taxable. Then, we explored like-kind, 1099s, and how to handle margin trading, staking, loans, and NFTs on your taxes. Today’s episode covers all […]

Welcome to the second of our multi-part series on crypto taxation. If you missed, or haven't yet listened to, our first episode, we covered the basics of crypto taxation, what is, and what isn't taxable In this next episode, we will be exploring more advanced aspects of cryptocurrency taxes, including: Review of basic crypto taxation and exactly where they are reported on tax forms (01:36) If you can you use a 1031 like-kind exchange (10:20) Receiving a 1099 from an exchange and what you should do (15:10) How you should report margin trading, staking and loans (23:30) What you should be aware with NFTs and minting (29:40) Episode Link: https://talk.bitcoin.tax/taxes-on-crypto-for-gains-income-margin-and-nfts/

Welcome to our new multi-part series on crypto taxation! Every week we’ll be exploring a different facet of cryptocurrency taxation. In today’s episode, the second part of the series, we go over more advanced aspects of cryptocurrency taxation, everything from staking, margin, airdrops, gifts, donations, defi, etc. – all of the more advanced facets of […]

Welcome to our new multi-part series on crypto taxation! Every week we’ll be exploring a different facet of cryptocurrency taxation. In the first part of this series, we are diving into the very basics of cryptocurrency taxation. We’ll be discussing what’s taxable, what’s not taxable, and where exactly everything gets reported on your tax forms. […]

Welcome to our new multi-part series on crypto taxation! Every week we'll be exploring a different facet of cryptocurrency taxation. In the first part of this series, we are diving into the very basics of cryptocurrency taxation. We'll be discussing what's taxable, what's not taxable, and where exactly everything gets reported on your tax forms. Full episode link: https://talk.bitcoin.tax/taxes-on-crypto-what-is-taxable/ In future episodes of this series, we'll be discussing tax implication strategies in cryptocurrency, including long and short-term gains, tax loss harvesting, how you treat margin, futures, staking, etc. – all the popular types of cryptocurrency activity. Then we'll be moving on to cryptocurrency tax regulations, past regulations, current regulations, where the future of regulations may go, and how that affects you as a taxpayer. We'll discuss cryptocurrency audits, which are becoming more and more frequent every tax year. And finally, we'll be discussing real and hypothetical cryptocurrency tax situations with tax professionals who have been in this space for years. You DO NOT want to miss this series – everything you need to know about crypto taxation will be answered. More Information (02:00): Which Types of Crypto Transactions Are Taxable? (06:56): How Do I Determine How Much To Pay On My Crypto? (27:54): Rapid Fire Rundown: Is It Taxable?

New information about how the IRS views crypto taxes is released very sporadically. In the first month of 2023, new IRS memos were released regarding crypto tax losses and crypto tax donations. Matt Metras, an Enrolled Agent at MDM Financial Services and overall crypto tax expert, joins the show to discuss what these memos mean […]

New information about how the IRS views crypto taxes is released very sporadically. In the first month of 2023, new IRS memos were released regarding crypto tax losses and crypto tax donations. Matt Metras, an Enrolled Agent at MDM Financial Services and overall crypto tax expert, joins the show to discuss what these memos mean for crypto users and the crypto tax they will report to the IRS. In addition, Matt discusses the 2019 IRS Crypto FAQ and the 2021 Infrastructure Bill and the effects they are having in 2023 on crypto taxes. Talk.Bitcoin.Tax (02:00): The Infrastructure Bill and Crypto 2023 (08:00): The IRS FAQ and Specific Identifcation (14:05): What is an IRS Crypto Tax Memo? (15:10): IRS Memo on Crypto Tax Losses (i.e., Rug Pulls) (25:40): IRS Memo on Crypto Tax Donations (30:20): Cryptocurrency Question on Form 1040 Episode Page: https://talk.bitcoin.tax/how-the-new-irs-crypto-tax-memos-affect-you/

Kyle Mackenzie, a CPA, and the CFO and partner of the crypto division at Metrics Chartered Professional Accounting, joins the show to discuss all things crypto taxation in Canada. Kyle goes over the basics of Canadian crypto taxes, and runs through some of the more frequently asked advanced questions he encounters as well, including the tax implications of staking, bridging crypto, and ETH to ETH2 – plus, the CRA's distinction between business and capital gains, superficial losses, and how both of these affect your bottom line. If you are looking for Canadian crypto tax guidance from an absolute pro, don't miss this episode! Talk.Bitcoin.Tax (03:31): The Basics – Buying Crypto, Selling Crypto, and Crypto to Crypto (03:57): What are Superficial Losses? (06:17): Business Income or Capital Gains? (10:49): Crypto Staking (12:12): Deducting Mining Expenses (17:42): How The CRA Views Crypto Bridging and Swaps Episode Page: https://talk.bitcoin.tax/canada-crypto-taxes-explained/

Kyle Mackenzie, a CPA, and the CFO and partner of the crypto division at Metrics Chartered Professional Accounting, joins the show to discuss all things crypto taxation in Canada. Kyle goes over the basics of Canadian crypto taxes, and runs through some of the more frequently asked advanced questions he encounters as well, including the […]

Matt Metras, an Enrolled Agent at MDM Financial Services and overall crypto tax expert, joins the show to discuss crypto tax loss harvesting in the current bear market, touching on how to handle specific coins like LUNA. Matt also outlines the main points of the recent bi-partisan crypto bill: a De Minimis exemption on crypto spending, removing the tax on staking and mining rewards, and transferring oversight of crypto from the SEC to the CFTC. More info on Talk.Bitcoin.Tax (01:36): Crypto Tax Loss Harvesting (06:00): Harvesting Luna Losses (09:34): The US Crypto Bill Explained (10:25): Crypto De Minimis (12:39): No More Mining and Staking Tax? (18:34): The CFTC Regulating Crypto

Matt Metras, an Enrolled Agent at MDM Financial Services and overall crypto tax expert, joins the show to discuss crypto tax loss harvesting in the current bear market, touching on how to handle specific coins like LUNA. Matt also outlines the main points of the recent bi-partisan crypto bill: a De Minimis exemption on crypto […]

Matt Metras, an Enrolled Agent at MDM Financial Services and overall crypto tax expert, joins the show to discuss and demystify the popular question: is crypto staking taxed? Matt outlines the recent Jarrett case that had plenty of crypto enthusiasts asking the question! Plus, Matt answers crypto tax questions from Reddit users: casualty losses, FBAR […]

Matt Metras, an Enrolled Agent at MDM Financial Services and overall crypto tax expert, joins the show to discuss and demystify the popular question: is crypto staking taxed? Matt outlines the recent Jarrett case that had plenty of crypto enthusiasts asking the question! Plus, Matt answers crypto tax questions from Reddit users: casualty losses, FBAR and FATCA, Roth IRAs, the Economic Substance Doctrine, how to handle 1099s, a potential (but unlikely) De Minimis, wash sales, fair market value versus zero cost basis for airdrops and NFTs, and more! Talk.Bitcoin.Tax (01:55): The Jarrett Case's Effect on Staking Taxes (07:30): A New De Minimis Bill? (10:05): The Current Status of Crypto Wash Sales (14:53): Constructive Receipt – When Do You Own Airdrops? (22:32): Are NFT Airdrops Reportable Income? (24:42): Crypto Casualty Losses – Lost, Stolen, Hacked Crypto (29:24): Dealing With 1099s From Crypto Exchanges (38:05): FBAR and FATCA – How To Report

The end of 2021 has brought many potentially impactful changes to the world of crypto and crypto taxes. From wash sales and tax loss harvesting to blockchain swaps and donations, there are some potentially huge upheavals in the crypto tax world coming in 2022 and beyond! Don’t be left facing the consequences of these huge […]

The end of 2021 has brought many potentially impactful changes to the world of crypto and crypto taxes. From wash sales and tax loss harvesting to blockchain swaps and donations, there are some potentially huge upheavals in the crypto tax world coming in 2022 and beyond! Don't be left facing the consequences of these huge changes by being uniformed. Tune in to hear one of the best crypto tax lawyers in the business, Andrew Gordon of Gordon Law Group, discuss these changes and offer his expert opinion on how to handle them moving forward. You can't afford to miss this episode! Episode Highlights (00:55): The Infrastructure Bill and Build Back Better BIG Crypto Changes (06:45): Are Wash Sales Going To Apply To Crypto Now? (19:07): Blockchain Swaps Could Definitely Be Taxable Episode Quote: > On Blockchain Swaps: “I can tell you that the more conservative position is to treat it like a taxable event, like an actual conversion – a disposition of one asset and purchase of another.” Full-Service Crypto Tax Prep Service: > Bitcoin.Tax Full Service

Matt Metras, an Enrolled Agent at MDM Financial Services and overall crypto tax expert, joins the show to outline what’s going on with the recent infrastructure bill and how cryptocurrency will be affected. We discuss the potential effects of the bill on decentralized finance, cryptocurrency miners, and centralized exchanges. Guest Matt Metras Twitter: @EmDeeEm Facebook: […]

Matt Metras, an Enrolled Agent at MDM Financial Services and overall crypto tax expert, joins the show to outline what's going on with the recent infrastructure bill and how cryptocurrency will be affected. We discuss the potential effects of the bill on decentralized finance, cryptocurrency miners, and centralized exchanges. More @ Talk.Bitcoin.Tax Timestamps: (01:23): A Summary Of The Infrastructure Bill (03:09): Cryptocurrency Tax (04:44): The Cryptocurrency Provision (07:19): DeFi and KYC Reporting (09:48): The Current Status Of The Infrastructure Bill

(Talk.Bitcoin.Tax) The IRS is enforcing the laws of cryptocurrency taxation more fervently than ever. Civil and criminal enforcement of cryptocurrency tax evasion is increasingly common due to the wide-scale participation of crypto exchanges, as well as increasingly powerful blockchain analysis tools. Christopher Wajda, a former IRS ASAC (Assistant Special Agent in Charge) of the Criminal Investigation Division, and Alex Kugelman, a cryptocurrency tax controversy lawyer, join the show to discuss how the IRS is going about this enforcement and what can be done to avoid having a special agent show up at your door. Full episode @ https://talk.bitcoin.tax/an-irs-insiders-look-at-crypto-tax/ Episode Highlights 03:28: Complying with the June 2021 Like-Kind Memo 11:31: IRS Tactics to Enforce Compliance (Summons, Blockchain Analysis, etc.) 14:20: The Increased Ease of Tracking Crypto Transactions 17:50: IRS Enforcement of DeFi

The IRS is enforcing the laws of cryptocurrency taxation more fervently than ever. Civil and criminal enforcement of cryptocurrency tax evasion is increasingly common due to the wide-scale participation of crypto exchanges, as well as increasingly powerful blockchain analysis tools. Christopher Wajda, a former IRS ASAC (Assistant Special Agent in Charge) of the Criminal Investigation […]

DeFi, or Decentralized Finance, has taken the crypto world by storm. DeFi isn't necessarily new, but it's popularity amongst investors has certainly skyrocketed. Andrew Gordon, an attorney and CPA who concentrates on crypto and taxes joins the show to discuss the taxable implications of DeFi events. In this episode, we discuss how liquidity swaps, liquidity pools, crypto collateral, staking (including ETH2), and NFTs are likely viewed by the IRS and what that means for the taxes that investors could owe on these events. More @ Talk.Bitcoin.Tax Episode Page: DeFi and Crypto Taxes: Liquidity, Staking, and NFTs Episode Highlights (01:45): Taxes on Liquidity Pools and Liquidity Swaps (12:07): Taxes on Staking Crypto (ETH2) (17:15): Crypto as Collateral – A Tax Saving Strategy? (22:00): Taxes on NFTs Full-Service Crypto Tax Prep Service: Bitcoin.Tax Full Service Ethereum 2.0 Tax Guide: Ethereum 2.0 Staking

DeFi, or Decentralized Finance, has taken the crypto world by storm. DeFi isn’t necessarily new, but it’s popularity amongst investors has certainly skyrocketed. Andrew Gordon, an attorney and CPA who concentrates on crypto and taxes joins the show to discuss the taxable implications of DeFi events. In this episode, we discuss how liquidity swaps, liquidity […]

Matt Metras, an Enrolled Agent at MDM Financial Services and overall crypto tax expert, joins the show to talk about the recently added IRS FAQ Question 5. Guest Matt Metras Twitter: @EmDeeEm Facebook: @BitcoinTaxesMe Reddit: BitcoinTaxesMe Website Listen

Matt Metras, an Enrolled Agent at MDM Financial Services and overall crypto tax expert, joins the show to talk about the recently added IRS FAQ Question 5. More @ Talk.Bitcoin.Tax More Information: IRS Crypto Tax FAQ

Receiving an official IRS notification of an audit can lead many to panic and stress about the unknown that lies ahead. However, an audit defense can be successfully handled with a level-headed and cerebral approach. Alex Kugelman joins the show and outlines what a cryptocurrency audit looks like, and the best practices for handling one […]

Receiving an official IRS notification of an audit can lead many to panic and stress about the unknown that lies ahead. However, an audit defense can be successfully handled with a level-headed and cerebral approach. Alex Kugelman joins the show and outlines what a cryptocurrency audit looks like, and the best practices for handling one properly. Alex walks us through the various factors that could trigger a crypto audit and answers some common questions crypto traders should know the answer to. Episode Highlights 00:52: The Basics – What Triggers An Audit 03:37: What To Do If You Receive A 1099-K 19:30: Benefits of Audit Defense Specialists 24:25: Crypto Audit FAQs Sign Up Now For Crypto Audit Defense: > Bitcoin.Tax Audit Defense

Today's episode will cover events happening the week ending December 11th, 2020. This week we'll be discussing a few of the big adoption stories of the week. Full Show Notes: (00:23) It shouldn't come as much of a surprise to frequent listeners that large mainstream corporations and businesses are rapidly adopting cryptocurrency, generally by investing […]

Donations must be made by December 31st to use as a deduction in your 2020 taxes Connie Gallippi, CEO of the first Bitcoin non-profit BitGive, and Matt Metras, a cryptocurrency tax pro, join the podcast to discuss the many benefits of donating cryptocurrencies. They walk us through the potentially massive tax deductions that can result […]

Connie Gallippi, CEO of the first Bitcoin non-profit BitGive, and Matt Metras, a cryptocurrency tax pro, join the podcast to discuss the many benefits of donating cryptocurrencies. They walk us through the potentially massive tax deductions that can result from donating crypto, which organizations accept crypto donations, and how donating is a major way to advance crypto adoption. More @ Talk.Bitcoin.Tax Saving Money By Donating Crypto Blog Post Episode Highlights: (03:35): The First De-Phi Conference For Good (12:23): The Basics of Crypto Taxation (14:36): Organizations Accepting Crypto Donations (22:10): Benefits of Donating Cryptocurrency (25:50): Taxable Write-Offs (37:15): BitGive's Current Campaigns Relevant Links: > The De-Phi (Decentralized Philanthropy) Crypto for Good Conference 2020 (Full Conference) > Donate Crypto via GiveTrack

Today's episode will cover events happening the week ending December 4th, 2020. This week we'll be talking about Bitcoin's all-time-high, Ethereum 2.0, and some of the tax-related questions people have been having about staking. More Information @ Talk.Bitcoin.Tax Full Show Notes: (00:26) The big news this past week is that Bitcoin hit it's all-time high […]

We'll be taking the week off from doing news due to the US Thanksgiving Holiday – I hope you all made the most of your day during this tough year! Over on The BitcoinTaxes Podcast, we interviewed two cryptocurrency-based attorneys, Zach Ziliak and Andrew Gordon, about the current-day infrastructure of BTC and how it differs […]

Attorney Zach Ziliak and Tax Attorney Andrew Gordon join the show to discuss the current Bitcoin Bull Market and why it’s different than the notorious 2017 Bitcoin price spike. We discuss the incoming Biden/Harris administration, and what it could potentially mean for cryptocurrency policies. Plus – Andrew Gordon shares some cryptocurrency tax planning strategies that […]

Attorney Zach Ziliak and Tax Attorney Andrew Gordon join the show to discuss the current Bitcoin Bull Market and why it's different than the notorious 2017 Bitcoin price spike. We discuss the incoming Biden/Harris administration, and what it could potentially mean for cryptocurrency policies. Plus – Andrew Gordon shares some cryptocurrency tax planning strategies that crypto enthusiasts can utilize before the end of the year. More @ Talk.Bitcoin.Tax (04:23): The Skyrocketing Price of Bitcoin (10:40): Post 2017 Bitcoin Infrastructure (26:00): Biden Administration & Crypto Policies (35:53): Cryptocurrency Tax Planning Strategies (49:11): Final Thoughts & Crypto Wishlist Relevant Links: > Bitcoin.Tax Full Service > Bitgive Foundation

Today's episode will cover events happening the week ending November 13th, 2020. This week, Bitcoin Cash is undergoing a hard fork over the weekend, President-Elect's Biden's transition team gains a crypto savvy financial lead, and the first decentralized philanthropy conference is right around the corner! More Info @ Talk.Bitcoin.Tax Full Show Notes: (00:29) First up […]

Today's episode will cover events happening the week ending November 6th, 2020. This week has been quite intense, from a US political perspective! If you are an American, or follow American politics, you know that this week has been the US Presidential Election – and one of the most nail-biting ones at that. Big things […]

This week, MicroStrategy is swimming in gains, Iran is embracing cryptocurrency in the face of sanctions, and PayPal's cryptocurrency service has already rolled out to some users. More Info @ Talk.Bitcoin.Tax Full Show Notes: (00:27) As you probably have heard if you are a frequent listener of this podcast, many companies are investing in Bitcoin […]

This week, PayPal announces what we all expected, Binance Jersey swims with the fishes, Kraken re-opens in Japan, and Reddit Moons get legitimized. More Information @ Talk.Bitcoin.Tax Full Show Notes: (00:25) The big, and not very surprising, news of the week has to do with PayPal. The payment processing giant has finally unveiled its plan […]

This week, OKEx is having a bad day, and a decentralized file distribution token hits the market. More info @ Talk.Bitcoin.Tax Full Show Notes: (00:25) As most of us in the crypto space can attest to, exchanges are a dime a dozen. There are some, like Coinbase (Pro) and Binance, that most people in the space […]

This week, Square Invests $50 million into Bitcoin, Coinbase is losing employees because they don't want to get political, and the extended tax deadline is less than a week away! More @ Talk.Bitcoin.Tax Full Show Notes: (00:28)  On Wednesday this week, Square Inc purchased 50 million dollars worth of Bitcoin, or around 4709 BTC. For those […]