Tax
Jan. 2, 2018
Big gains could mean big taxes for bitcoin millionaires
Many a bitcoin millionaire may be thinking like their forefathers did holding low basis stock in Microsoft, Intel or Starbucks.After all, losing lots of money to taxes is never fun.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
Bitcoin has captured the hearts and wallets of techies everywhere. At the start, it seemed off the grid, a kind of counterculture counterpunch to the banks and financial institutions that had their grip on everyone everywhere. It seemed largely anonymous, although now that the IRS is getting Coinbase customer lists, it turned out not to be entirely under the radar.
Now, it seems practically mainstream, with futures, investment banks...
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