Non-fungible tokens better known as NFTs are the hottest thing in crypto. 2021 may go down as the “Year of NFTs”. You may be wondering how are NFTs taxed?

Let’s start with the NFT meaning. Then we’ll discuss the taxability.

Fungibility

NFTs are a byproduct of crypto or...

The IRS issued the final instructions for answering everybody's favorite tax question. "At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?"

• Is it good news or bad news?
• Are the final instructions better than...

GameStop, Goliath, Crypto Craziness and a Golden Nugget: Part 2

In part one of this blog we talked about GameStop and related crypto craziness. WallStreetBets was David taking on Melvin Capital as Goliath. In this case David's stone was a short squeeze that almost killed the hedge fund.

The tweet...

GameStop, Goliath, Crypto Craziness and a Golden Nugget: Part 1

The past week in crypto, twitter, reddit and securities spheres is historic on a number of levels. The old saying you can't make this stuff holds true once again. 

I always say my life would be boring it wasn't for crypto and...

IRS Virtual Currency Check-the-Box for 2020

In our first ever Crypto Bullseye Blog where I talked about the virtual currency gotcha question for 2019. 

Guess what? The saga continues for 2020 and there are a few more twists to this ongoing tale. 

The "virtual currency...

I've helped hundred of people with crypto taxes, accounting and more over the last 7 years. Now I want to share this wisdom with you in our first ever Crypto Bullseye Blog. In this edition we'll highlight a simple but important pitfall to avoid for 2019 and 2020 taxes. Read on.

In 2019 the IRS...