Crypto Tax

The world of cryptocurrency is constantly changing, with innovations and new uses for digital currencies springing up every day. This innovation has left governments, including the U.S., scrambling to catch up. For example, as of 2023, the Internal Revenue Service (IRS) considers cryptocurrency property for tax purposes. This means the tax laws that apply to property transactions, like selling or exchanging property, also apply to cryptocurrencies. Cryptocurrency Basics Cryptocurrencies such as Bitcoin, Ethereum, and others are digital or virtual currencies…