The Crypto Bullseye Blog™

Three reasons you could miss Bitcoin reaching $1,480,000 in 2030

Is bitcoin worth investing? Get ready to have your mind blown.

I’ve extracted several key pages on Bitcoin from the Big Ideas 2023 Report by Ark invest to explain how my crypto OG evangelist mind was blown apart....

UK makes crypto tax-free by calling it gambling

The UK wants to be a global blockchain hub but then stated crypto has no value and should be regulated like gambling which makes it tax free. That's insane. This stance is full of hypocrisy and contradictions.

The UK Treasury issued a report in May...

Don't morph into a crypto PIG

By now you've probably heard about pig butchering crypto scams, which are a subset of crypto scamming. I've studied frauds for the last 12 years and I'm especially intrigued by the anatomy of crypto scams and the psychology of the victims.

I'm also a Certified Fraud...

How to Avoid Expensive Crypto Tax Mistakes & Audit-Proof Your Tax Return

My new crypto book

I just published my second crypto book project, The Crypto Tax Blueprint™: How to Avoid Expensive Crypto Tax Mistakes & Audit-Proof Your Tax Return, which took about 2 years to...

How Ledger's new recover service violates the crypto ethos

Ledger’s new “Recover” service may have earned top honors for crypto news of the week. In the eyes of the crypto degens Ledger Recover is a violation of the crypto ethos in 3 major ways.

First, let’s get the skinny...

NFTs will be split into pieces for tax purposes

The IRS recently issued Notice 2023-27: Treatment of certain nonfungible tokens as collectibles. This is the beginning of IRS guidance on NFT Tax. The best part is they are looking for public comments and I was impressed with the questions they...

Some losses are more valuable than others.

We're still fresh off of the original US individual tax deadline. It's still a good time to discuss crypto taxes since crypto tax season essentially never ends. In addition, the AICPA recently issued an IRS comment letter regarding the treatment of...

You get an impossible task with more work

This week I already did the heavy lifting via my Coindesk Opinion piece. I'll also give you some other stuff below so read that first then click on the article link. Please read here 1099-DA Reporting Creates More Headaches for Taxpayers

MONSTER...

Getting your data before you can't

The Missing Transactions Dilemma is one of the most expensive crypto tax mistakes in the game. Most people don't realize it until they are deep in the realization of it.

In crypto there are two kinds of assets:

1. Crypto assets (the obvious one)
2. The data about the...

The nitty gritty of choosing a crypto tax pro

In Part I we examined the legacy approach and the anatomy of tax return preparation to segue into being better prepared for choosing a crypto tax professional. See Part I. Let’s dive into Part II.

List illusion

Crypto tax software is a must to...

The anatomy of tax return prep and where to start: The legacy tax approach

Let's examine the anatomy of tax preparation which is helpful when going through the process of choosing a crypto tax professional. Pre-crypto taxpayers either self-prepared tax returns or hired a professional. It's...

Understanding the meaning of NFTs

Non-fungible tokens better known as NFTs are the hottest thing in crypto. 2021 may go down as the “Year of NFTs”. You may be wondering how are NFTs taxed?

Let’s start with the NFT meaning. Then we’ll discuss the taxability.

Fungibility

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