Virtual Currencies And Your Taxes

Digital Assets | Prager Metis | Jul 26, 2022

As virtual currency transactions rise, so does the enforcement of virtual reporting requirements. When reporting cryptocurrency on your tax return, a good rule of thumb is that you must report it on your tax return if a taxable event occurs. For cryptocurrency, taxable events fall under two categories: Capital Gain and Ordinary Income Loss. Learn more about cryptocurrencies and your taxes here.


Top Ten Year-End Tax Planning Checklist

As the year draws to a close, taking proactive steps in your financial planning can significantly impact your tax liability. This checklist provides a guide to key strategies that individuals can consider before the end of the year to potentially decrease their income tax. By strategically managing income, deductions, and investments, you can optimize your tax situation and position yourself for a more tax-efficient financial future.

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