Texas CPA Accepts, Consults & Writes About Bitcoin
News December 28, 2013 Comments Off on Texas CPA Accepts, Consults & Writes About Bitcoin 26
Texas CPA Jason Tyra accepts, consults on, and writes about Bitcoin. He sagely noted in a recent Bitcoin Magazine article that; “The IRS may not have figured Bitcoin out yet, but most of the situations encountered by individual and business taxpayers when dealing with Bitcoin are readily comparable to other types of transactions for which an extensive body of governing regulations and case law already exist. Until the regulations for virtual currencies are written and released, Bitcoiners remain free to choose how and when to report gains at tax time. As long as the position taken is reasonable under the circumstances and is consistently applied, taxpayers would be well advised to select the position that results in the lowest overall tax burden.”
For the complete article see: Declaring Bitcoin Income Part 3- Bitcoin As An Asset.
Bitcoin4Biz followed up with Tyra. He expressed concern, “that tax protestors are dispensing toxic advice to taxpayers / business owners concerning Bitcoin’s taxability. There seems to be substantial overlap between the Bitcoin and tax protestor communities and I am concerned that the non-tax protestor Bitcoin people will end up with accepting bad advice from the anti-tax Bitcoiners without realizing it.”
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