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Category: Cryptocurrency

August 25, 2022August 25, 2022Accounting, Cryptocurrency, Scam, Security

Understanding cryptocurrency fraud

Cryptocurrency fraud falls into two main categories: Scams soliciting investment Theft of accounts The number of cryptocurrency scams is decreasing as people […]

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August 19, 2021Cryptocurrency, Taxes

The bitcoin conversation

Text message from Facebook friend: “Quick question: what are your thoughts on bitcoin? My sons keep telling me I need to get […]

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March 6, 2021Accounting, Cryptocurrency, Taxes

CNBC published incorrect tax advice about reporting of cybercurrency

SHAME ON @CNBC editors and author @sahahtobrien! This type of inaccurate reporting of tax policy and procedure in this article should be […]

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January 16, 2021January 16, 2021Accounting, Cryptocurrency

Update on new Bitcoin reporting requirement

This blog post uses “Bitcoin” in the title that actually could refer to all types of virtual currency. On December 23, 2020 […]

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January 10, 2021July 11, 2021Cryptocurrency, Taxes

Forecast: Cryptocurrency ownership reporting will be required

This blog post is based on a presumption and projection of a proposed rule that may be modified delayed or cancelled. In […]

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March 7, 2020Cryptocurrency, Taxes

Does simply owning cyber currency put you at increased risk of audit and tax penalty?

Many cyber currency owners believe that if they didn’t receive any cash then there is no tax due now. IRS disagrees and […]

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October 28, 2019February 6, 2020Cryptocurrency, Taxes

IRS just got serious about cryptocurrency

The just-released draft copy of Form 1040 Schedule 1 that starts off with the question: “At any time during 2019, did you […]

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August 13, 2018Accounting, Cryptocurrency

Concern over Tether

I’ve written a series of posts on the theme that investors have good reason for concern about cryptocurrency investments. The latest concern […]

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March 23, 2018March 23, 2018Accounting, Cryptocurrency, Taxes

Implications of blockchain in everyday accounting

The AICPA co-published a new report on blockchain that is written primarily by accountants at Deloitte & Touche LLP. The report covers a […]

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January 14, 2018January 14, 2018Affordable Care Act, Cryptocurrency, Social Media, Taxes

Watch out for these two latest online scams

Scams always require two components: the media and the message. CPAs are indoctrinated with specific education and are required to maintain an […]

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Tony Novak CPA, MBA, MT

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This Web site is independently owned and operated by Tony Novak operating under the trademarks “Freedom Benefits”, “OnlineAdviser” and “OnlineNavigator”. Opinions expressed are the sole responsibility of the author and do not represent the opinion of any other person, company or entity mentioned. Tony Novak is not a representative, agent, broker, producer or navigator for any securities broker dealer firm, federal or state health insurance marketplace or qualified health plan carrier and has no financial position in any stocks mentioned. Novak may act as and be compensated as an accountant, agent, adviser, writer, consultant, marketer, reviewer, endorser, producer, lead generator or referrer to the companies listed on this site or other commercial companies and non-governmental insurance exchanges. Information is from sources believed to be reliable but cannot be guaranteed. Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues or a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties.

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