Tagged: taxes

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

HMRC Explains Income Tax on Interest Earned from P2P Loans

Her Majesty’s Revenue and Customs (HMRC) department, the agency responsible for the collection of taxes, has published its current “position” on the requirement to deduct income tax on interest paid on peer to peer loans. According to HMRC, under existing tax rules in Chapter 3… Read More

Fintech Tax Solution Xcordis Launched to Cut Inefficient Collection, Combat Corruption

UK based Xcordis has launched its Auto-Tax technology today to remove inefficiencies and reduce opportunities for graft and dodging. Their application is said to offer a full audit trail from collection to distribution and is designed to tackle a pressing problem in the developing world:… Read More

EU VAT Committee Posts Review on Taxing Crowdfunding

The EU’s VAT Committee has published its review of the liability to VAT of crowdfunding activities. The Committee stated that “where platforms provide services free of charge40 they remain outside the scope of application of the VAT Directive”.  But where services generate a fee, such… Read More

In Australia, New Tax Incentives For Startups, Specifically Around Crowdfunding

In Australia, startups recently received good news from Treasurer Joe Hockey: new tax incentives for startups, specifically around crowdfunding, also known as crowd-source equity funding (CSEF), notes Gizmodo Australia. The tax incentives are part of the new 2015-16 federal budget. Gizmodo notes, [AU] $7.8 million will be spent getting the… Read More

Taxpayers Australia: Consider Tax Obligations Triggered Through Crowdfunding

Taxpayers Australia, a non-profit entity that promotes “fairer and more transparent taxation system for every Australian taxpayer” has published a cautionary note on individuals using crowdfunding and the potential tax liability that may be incurred. The advocacy group warns that the Tax Office has taken… Read More

Australian Tax Office Wants to Hit Crowdfunding Campaigns with GST

The Australian Tax Office (ATO) has told the Aussie parliament that rewards based crowdfunding campaigns, like those listed on Pozible, Kickstarter and Indiegogo, may be required to pony up taxes on rewards purchased by campaign backers.  This is a question that has surfaced not only… Read More