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Will Michael Saylor's MicroStrategy Incur Tax Liabilities On Unrealized Bitcoin Gains? X Users Call The Claim 'False,' But Here's What You Need To Know
Monday, January 27, 2025 - 4:56am | 760MicroStrategy Inc. (NASDAQ:MSTR) reportedly may be liable for taxes on its unrealized Bitcoin (CRYPTO: BTC) gains, despite having made no sales. What Happened: The Inflation Reduction Act of 2022, which introduced a “corporate alternative minimum tax,” could result in the so-called...
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Italy Backpedals On Controversial Tax Hike On Crypto Capital Gains Following Industry Opposition: 'No More Prejudices'
Wednesday, December 11, 2024 - 5:22am | 367Politicians from Italy’s ruling coalition said Tuesday that the country will lower the proposed tax hike on cryptocurrency capital gains following industry criticism and internal disagreements. What Happened: Lawmaker Giulio Centemero and Treasury Junior Minister Federico Freni,...
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Balaji Srinivasan Gives A Nod To Pro-Bitcoin El Salvador President Nayib Bukele's Theory On US Government Funding: 'DC Isn't Funded By Taxation, It's Funded By Inflation'
Thursday, August 29, 2024 - 2:58am | 478Silicon Valley investor Balaji Srinivasan concurred with El Salvador President Nayib Bukele's argument that not high taxes but money printing by the Federal Reserve finances the U.S. government. What happened: On Wednesday, Srinivasan took to X to respond to an earlier address by Bukele at the...
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Cannabis Taxes: Weight, Potency Or Price? Impact On Businesses, Patients And Consumers
Thursday, June 6, 2024 - 12:35pm | 790Cannabis companies are bracing for a cash flow boost. President Biden's decision to reschedule cannabis could free up over a billion dollars in tax breaks thanks to the elimination of the burdensome IRS code 280E. This tax code currently prevents cannabis businesses from deducting normal...
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Apple Card Savings Account Holders To Receive 1099 Interest Tax Form: What You Need to Know
Wednesday, January 3, 2024 - 7:27am | 463With 2023 now over, Apple Inc. (NASDAQ:AAPL) is gearing up to dispatch 1099-INT tax forms to holders of its Apple Card Savings accounts. What Happened: Apple has started sending out emails to its customers informing them that their 1099-INT tax forms are on the way, reported 9to5Mac. Form 1099-INT...
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Taxation, 280E, And The Challenges Of Accounting For Cannabis Dispensaries
Thursday, February 9, 2023 - 2:18pm | 1162Currently, too many accounting professionals are making big mistakes by misinterpreting the tax code in an attempt to increase the deductions dispensaries take. This approach could trigger an IRS audit and put companies at risk of incurring hefty penalties, or being shut down for not...
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New Capitol Hill Legislation Would Make Crypto Payments Below This Amount Tax-Free
Wednesday, June 8, 2022 - 4:38pm | 308The Responsible Financial Innovation Act introduced by Sens. Cynthia Lummis and Kirstin Gillibrand would exempt cryptocurrencies that are below $200 from capital gains taxes. Here's what you need to know. What Happened: After extensive dialogue on cryptocurrency taxation, this...
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Co-Founder of Flow Cannabis Calls For Tax Revolt In California, Says Regulatory System 'Unworkable'
Tuesday, November 23, 2021 - 7:41pm | 501Michael “Mikey” Steinmetz, co-founder of Flow Cannabis Co, which makes the Flow Kana cannabis brand is threatening to withhold his taxes unless California Governor Gavin Newsom and the state Legislature adjust marijuana regulations on July 1, 2022, reported The Sacramento Bee...
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Is It Possible To Profit From Crypto Trading Without Considering Tax Implications?
Monday, June 15, 2020 - 2:37pm | 583Traders buy the dip and sell at the peak. The ultimate premise for profitability. Investors, however, need not apply the golden rule at all times. Different horizons and projections determine divergent optimum investment strategies, due to tax-related purposes. Cryptocurrencies are an interesting...
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Low-Cost Retail Investors Could Be Waking Up To Trump's Protectionism
Monday, January 30, 2017 - 10:18am | 306Shares of Wal-Mart Stores Inc (NYSE: WMT), Dollar General Corp. (NYSE: DG) and Dollar Tree, Inc. (NASDAQ: DLTR) plummeted as much as 2 percent Friday morning, and traders attributed the activity to continued concern on proposed border taxes. President Donald Trump’s emphasis on domestic job...
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Millennials, Retirement Savings And New Research Studies
Sunday, May 15, 2016 - 4:46pm | 920So much has been written and theorized about Millennials and money; juxtapose that with fears of under-investing in the market and government-assisted retirement programs depleting at a rate that cannot keep up with population growth under current taxation, and the present and future for...
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How Much Income Tax Would You Pay Under President Trump?
Monday, May 9, 2016 - 2:08pm | 352Donald Trump took some heat this weekend over comments he made regarding taxes on businesses and the wealthiest Americans. On Sunday, Trump said that he and many other wealthy Americans would be willing to pay more in income taxes. However, on Monday, Trump clarified that he will not be raising...