Frequently Asked Questions – Cryptocurrency

Frequently Asked Questions – North Carolina Bitcoin Lawyer Q: How is cryptocurrency treated by the Internal Revenue Service? A: Cryptocurrencies are currently considered property but the Internal Revenue Service. As such, general accounting and tax principles apply to cryptocurrency mining and transactions. The Interal Revenue Service’s definition of virtual currencies as property means that each…

Understanding Chapter 7 Bankruptcy

Chapter 7 Bankruptcy – What it can do for you and how the process works Chapter 7 Bankruptcy is designed to give individuals a fresh start by wiping the slate clean. Once you file for Chapter 7, your creditors must immediately stop all collection efforts, including collection letters, phone calls, repossessions, garnishments, and lawsuits. Known…