While cryptocurrency and distributed ledger technologies have broadened in significance well beyond Bitcoin, the underlying technologies have created new challenges for financial reporting surrounding digital assets.
Our in-house digital asset specialists can help you meet those challenges. An important part of our approach includes taking a step back and looking at your business holistically to better understand your business and related needs.
It is crucial for Greensboro and other taxpayers to understand that the regulatory landscape around Bitcoin is rapidly changing.
The IRS is already coordinating with lawmakers and federal agencies, such as the U.S.
Treasury Department, to make Bitcoin reporting laws clearer, stricter, and easier for tax authorities to enforce.
Individuals and businesses that use Bitcoin or other cryptocurrencies, such as Dash, Ethereum, Litecoin, or Zcash, are increasingly at risk for being audited.
An IRS audit could lead to harsh penalties for failing to comply with Bitcoin regulations – regulations that can be confusing, contradictory, and difficult to interpret.
If you have sold Bitcoin, purchased Bitcoin, saved for retirement with Bitcoin, made major purchases using Bitcoin, mined Bitcoin, or paid employees using Bitcoin or other cryptocurrencies, it is in your best interests to discuss state, federal.
International tax compliance with an experienced cryptocurrency accountant as soon as possible. Serving individual taxpayers, C corporations, S corporations, limited liability companies (LLCs).
Other business entities in the Greensboro, Winston-Salem and Charlotte area, the North Carolina Bitcoin accountants at Mildrid Esua, CPA, PLLC can help you plan financially for your business or your family.
While working to reduce or eliminate penalties by making sure that you are complying with Bitcoin laws as tax regulations continue to shift.