Welcome to episode 10 of The Bitcoin Game, I’m Rob Mitchell.
I wanted to really have fun and celebrate this 10th episode. I never knew if I’d be able to get ten episodes out, so this is quite an achievement for me. With that in mind, I decided to focus on something the entire cryptocurrency community loves to talk about… Taxes!
While cryptocurrency taxes may not be a favorite topic, I actually had a lot more fun than I expected, speaking to Jake Benson, CEO and founder of LibraTax. This was my opportunity to ask every tax accounting question I could think of related to cryptocurrency.
I also spent a little time with LibraTax, and I wasn’t convinced it had the features I needed. But after getting some tips from Jake on hidden capabilities and techniques, I think I’ll be using LibraTax to help with my accounting this year. So if you think you might want to give LibraTax a spin, listen to the entire episode, and you’ll get some specific tips towards the end.
While Jake certainly seems like a tax expert to me, please do not use this podcast for personal tax advice. Consult with a tax professional, or do your own research to make sure you file your taxes correctly. There certainly are gray areas when it comes to tax regulation, especially with new financial technologies. So there’s often an aggressive and a conservative approach that can be taken.