Tag Archives: NFT

Feature 2021

60. The Ins and Outs of Crypto Taxes with Micah Fraim

Personal Finance, , , , , , , , ,

As anyone who has ever bought and sold any sort of digital asset in the last couple years can attest, the rules and regulations around reporting those transactions to the IRS can be very fuzzy. Coupled with the lack of information made available by the IRS itself, and the lack of general knowledge and adoption of crypto by the accounting community, it can be very tough for investors to make heads or tails of it all. 

At best, you manage to stumble across a couple of really helpful twitter posts or youtube explainer videos offering solid tidbits of information that may or may not be directly applicable to your individual circumstances. But at worst, you make a mistake in reporting your transactions in one year, that ultimately opens up your returns from previous years to scrutiny, and you find yourself in the middle of a full-blown audit with no idea how you got there.

In this episode, Malcolm Ethridge speaks with Micah Fraim, CPA and crypto enthusiast, about the taxation of crypto. Micah shares his knowledge about how crypto and NFTs are taxed, how to save money on taxes when investing in crypto, why you should stay up to date on the ever-changing IRS taxation policies about crypto, and how to track activity across multiple digital wallets without using a platform like Coinbase.

Micah discusses: 

  • How crypto and NFT trades are taxed today
  • How to take advantage of the current crypto winter to save on taxes
  • Why he is such a fan of cryptos and their future long-term
  • Some recommendations for how to tack crypto activity and keep good records across multiple digital wallets
  • And more

Resources: 

Connect With Micah Fraim:

Connect With Malcolm Ethridge:

About Our Guest:

Micah Fraim is the founder of Fraim Cawley & Company. Micah is a certified public accountant who works with small business owners on preparing tax returns and offers more advanced tax planning. In addition, he is also a self-proclaimed crypto enthusiast and has recently published the book, Decryptifying Crypto Taxes.

 

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Feature 2021

31. Are NFTs a Fad or the Future? with Jesse Krieger

Personal Finance, , , , , , , , ,

Not that long ago, we were all trying to wrap our collective heads around this thing called Bitcoin and how it was promising to revolutionize the way we all pay for goods and services. And now, before we’ve really even come to a consensus on whether cryptocurrencies are a digital currency, a store of value, an investment asset class, or something else entirely, the conversation has shifted to a different form of digital gold called an NFT.

In this episode, Malcolm Ethridge is joined by Jesse Krieger, Chief Content Officer at PowerFan.io, an NFT minting platform for authors and other content creators, allowing them to create and sell exclusive works directly to their audience. Jesse discusses the ways in which cryptocurrency and NFTs differ, how NFTs are changing the narrative of the creative marketplace, and the potential impact NFTs have on ownership and artist royalties.

Jesse Krieger discusses:

  • The key differences between many of the more popular blockchains, cryptocurrencies, and their individual purposes in the marketplace
  • The higher income potential for artists and creators that distribute their content direct to consumers via NFTs
  • PowerFan’s ability to help create and distribute content as an NFT and their accessibility to credit cardholders
  • The multiple use cases for NFTs and the ways in which the space might evolve
  • And more

Resources:

Connect With Jesse Krieger:

Connect With Malcolm Ethridge:

About Our Guest:

Jesse is the co-founder and Chief Content Officer of PowerFan.io where he helps authors, artists & creators leverage NFTs and blockchain asset strategies. Jesse is also the Founder and Publisher of Lifestyle Entrepreneurs Press, a publishing company that has helped over 500 authors through the entire author journey, from writing and creating a great book, to providing expert publishing support with editing, design, layout and marketing strategy. He has authored and published two best-selling books on two different continents and been featured on over 100 media outlets for his bestselling book Lifestyle Entrepreneur and entrepreneurial endeavors. Jesse also holds degrees from University of California, Berkeley, as well as National Taiwan University and Beijing Normal University.

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