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Being a business owner in California means having to deal with sales tax, and quite possibly a sales tax audit.  Sales tax is the tax collected on goods that are sold in a business for the taxing agencies. In California, the basic sales tax is 7.25 percent. Having to deal with sales tax means that […]

Are cryptocurrency losses tax deductible? Talk about a timely question. Between June and November 2019, bitcoin prices dropped by nearly half. With a market share nearly three quarters of the entire market capitalization of all circulating cryptocurrencies, that’s dropped the price of altcoins in similar proportion. Even crypto investors, traders, and businesses that deal in […]

Crypto has been around for a decade, but many new adopters are still uncertain about properly filing and paying taxes on crypto earned as income. If you work for a business that pays wages or bonuses in crypto, there’s a good chance it’s a crypto business, and you’re an early adopter who’s been paying close […]

In 2009 Satoshi Nakamoto, the pseudonymous inventor of bitcoin “mined” the first block on the bitcoin blockchain and created a disruptive new tech industry. By August 2018 less than ten years later, over 1,600 new cryptocurrencies had been created. This complicated regulatory uncertainty around crypto by raising the question: Is there a crypto to crypto […]

As cryptocurrency grows into a mature industry, these still largely unregulated financial tech platforms have drawn increasing scrutiny from global tax authorities because of their apparent ease of use for evading taxes. But don’t think it’s that easy to get away with concealing crypto holdings and profits from the IRS. The vast, publicly accessible digital […]

A cannabis tax audit can come at any time to any cannabis business, which makes being prepared a necessary component to keeping your business alive. While there are some obvious steps you can take to keep yourself safe, like keeping everything legal and by the book, there are other simple techniques that will go a […]

Crypto users should stay well-informed of the tax implications of initial coin offerings. An initial coin offering (ICO) is a fundraising vehicle for new cryptocurrencies. It’s something akin to the initial public offering (IPO) of shares in a corporation to raise capital for growth by selling ownership stakes and making them available to the general […]

If you are a cannabis business in California, collecting and paying cannabis taxes is going to be part of your everyday life. By knowing exactly what you need to be collecting, you’ll not only make your business run smoother, but you’ll stay out of trouble with the law. While cannabis businesses are not the only […]

Whether you mine bitcoin for fun or profit, hold bitcoin as a long term investment, buy and sell bitcoin to day trade on its volatile price movements, or receive bitcoin as a gift, you are responsible for paying taxes on your bitcoin holdings if you reside in the US and are subject to the federal […]

Just like everyday people, businesses are subject to income taxes, even cannabis businesses. While the status of cannabis being illegal at the federal level may cause some hiccups if you are not prepared, being up to date on recent laws concerning taxes is crucial for a business. To make sure you get the most out […]