Tag Archives: tax

Accounting Methods for Cryptocurrency Trades & Sales

All Articles, Tax LawBy Attorney Eric Rothenberg March 15, 2019

By Eric P. Rothenberg, Esq. (Published Article) The world of cryptocurrency transactions was changed dramatically at the end of 2017 when the Internal Revenue Code [“IRC”] was modified to remove all types of assets eligible for Tax Free Exchanges under IRC Section 1031 [also known as “1031 Transactions] EXCEPT for real estate. Prior to…

Cryptocurrency [Bitcoin] and the IRS

All Articles, Tax LawBy Attorney Eric Rothenberg August 24, 2018

The creation and use of cryptocurrency is very recent. Back in 2010, it just began trading. In 2011, it hit its first “bubble” at $31 per coin when previously they traded for just pennies. Most people by now have already heard it hit nearly $18,000 in December 2017. That’s quite a leap in just 7…

Are You Tax Return Prepared?

All Articles, Business & Real Estate, Estate Planning, Tax LawBy Attorney Eric Rothenberg August 20, 2018

In order for you or your preparer to do a good job on your income tax returns, which in turn will reduce the risk of being audited, here are some notions you must keep in mind. The Internal Revenue Service requires individuals to gather the adequate documents that can also help provide answers if their…

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