Tagged: taxes

Polish Government Pondering Crypto Tax Legislation

The Polish government has published proposed legislation seeking to define how cryptocurrencies will be taxed in the country, Kryptowaluty reports. The bill reportedly defines cryptocurrencies as, “a digital mapping of value,” and includes rules governing both the use of cryptos in retail purchases and their use as… Read More

Young Norwegians Who Bragged to Media about Crypto Wealth Forgot to Report it on Their Taxes

Two young braggarts who took to the Norwegian media to boast about millions in crypto profits last year are backpedalling now after media showed they disclosed minimal gains on their 2017 tax returns, Dagens Naeringsliv reports. Crypto-mining partners Philip Eriksen and Roy Arne Olsen, both… Read More

China’s Shenzhen District and Tencent Partnering to Develop an “Intelligent Tax” System on Blockchain

Chinese tech behemoth TenCent is cooperating with tax authorities in the Shenzhen province to develop a blockchain-based and Big Dat-fed “intelligent tax” system.   Tencent last year joined Facebook, Google and Amazon as one of handful of companies on the globe to pass the $500 billion… Read More

Cryptomonnaies : France to Drop Tax on Cryptocurrency from 45% to 19%

Le Conseil d’etat announced this past week that French authorities have decided to dramatically drop the tax on cryptocurrency from 45% to 19%. While still considerable, this represents an important step by the French government in seeking to be more innovation friendly. The change in taxation was… Read More

iComply & Cointaxes Partner to Help Canadian Taxpayers Manage their Cryptocurrency Taxes

iComply Investor Services has announced a new strategic partnership with Cointaxes, a platform for Canadian taxpayers to help manage their tax liability for crypto. The software has been available for US citizens for some time (tax day was April 15 in the States) but now… Read More

Australian Government Posts Reasonable Cryptocurrency Tax Obligations

In mid-March, The Government of Australia published tax guidelines for citizens and businesses using cryptocurrencies to invest, make or receive payments. The document, “Tax treatment of cryptocurrencies,” is fairly readable and the compliance procedures outlined quite reasonable. In short: “Our view is that Bitcoin…is an… Read More

German Federal Ministry of Finance Posts Letter Regarding Taxation of Bitcoin, Virtual Currencies in General

The Bundesminiserium der Finanzen in Germany (Federal Ministry of Finance) posted a notice yesterday regarding VAT tax treatment of Bitcoin and other virtual currencies. The document, in German, is embedded below.  In brief, the German government will not tax In brief, using Bitcoin as a… Read More

Heritage: Congress Must Remove Anti-Competitive Barriers to Cryptocurrency

Here is an interesting write up that should make cryptocurrency advocates happy. The Heritage Foundation, a leading policy think tank in Washington, DC, published a report at the end last year telling Congress and other public authorities they need to back off of Bitcoin and… Read More

Chief of the IRS Criminal Division is on the Hunt for Cryptocurrency Scofflaws

In March of 2014, the Internal Revenue Service issued  an FAQ on digital currencies and the tax treatment of transactions in crypto like Bitcoin. In brief, the IRS said that virtual currency should be treated as property for U.S. federal tax purposes. “General tax principles that… Read More

The Taxman Cometh: Tax Reform May Impact Cryptocurrency Trading

It is that time of year again. Tax time. The dreaded annual routine where you compile all of your state and federal tax forms into an envelope and shuffle it off to your accountant. Alternatively, you may use a tax software and do it yourself… Read More

Real Estate Crowdfunding & Taxes: AlphaFlow Has Answers

Real estate and crowdfunding is a perfect match. Real estate has always been a very popular investment class but unless you had big money, or tons of time on your hands, it was pretty hard to get into. Sure, you can invest in traditional REITs… Read More

Fintech Startup Canopy Raises $20 Million During Series B Funding Round Led By Pelion Venture Partners

Fintech startup and practice management platform for tax professionals, Canopy, announced on Monday it raised $20 million during a Series B funding round led by Pelion Venture Partners, with participation from existing investors New Enterprise Associates (NEA), EPIC Ventures, and Deep Fork Capital. Canopy has grown by… Read More

The Invest in America Act: Supporting Entrepreneurs & Innovation While Empowering Everyday Americans

  First off, we all owe Tony a debt of gratitude for actually drafting this set of regulations. Legislative drafting is yeoman’s work especially when it comes to tax law. This new legislation solves for two extremely important problems in the U.S. economy and society…. Read More

Calling All Would-be Angels: “Invest In America Act” Bill Could Help You Find Your Wings

Start-ups and small businesses represent the heart of the American economy and fostering this sector is integral to continued innovation and job growth in the U.S.  Access to capital however, is always a critical issue for these types of businesses and angel investors often represent… Read More

2017 Holds Promise for Tax & Financing Policy for Startups

2016 brought with it many positive developments for startups in terms of capital access and tax policy. Investment crowdfunding finally went live, a number of bills to facilitate capital formation passed the House, and the startup community galvanized around a tax bill that would make… Read More

The US Government is Worried that Usage of Digital Currencies will Lead to Tax Avoidance

The Treasury Inspector General for Tax Administration (TIGTA) published a document this fall that reviewed the growing usage of Bitcoin and other digital currencies in the private sector. While acknowledging there are benefits to “virtual currencies” including lower transaction fees and faster transfer of funds… Read More

Getting it Right: the UK Supports SME Growth with EIS & SEIS Tax Programs

Starting and creating a new business is a highly risky endeavor.  Yet these same small businesses are the ones that create the most jobs and drive economic growth. In brief, SMEs are imperative for society as a whole. The UK has supported an innovation-based economy… Read More

A New Bill Looks To Fix The Current “S Corp” Rules For Easier Crowdfunding; Why It Needs To Do More

A new Bill (H.R. 4831) was recently introduced by Representative J. French Hill which looks to amend the rules of the Internal Revenue Code of 1986 (the “Code”) concerning  “subchapter S” qualified corporations (“S Corps”), and the limited number of permitted S Corp shareholders, to… Read More

Dealstruck’s New Survey Reveals: Small Business Owners Are Responsible with Their Tax Refund

With tax time upon us and the corporate filing deadline (March 15) looming, Dealstruck, Inc., a leading small business online lender, announced its recent survey of more than 500 business owners nationwide indicated that instead of taking a trip to Vegas, company owners are taking… Read More

IW Capital Report on Taxes: EIS is a Popular Product for the 2016 Tax Year

IW Capital, a financial firm that has facilitated over £60 million worth of investment into the UK’s SME sector, has published a report on the UK tax landscape.  The report, embedded below, states that with the forthcoming Budget report (March 16), scrutiny of the tax environment… Read More

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