Bitcoin and taxes: What’s the story?
The alarming rate at which cryptocurrencies are gaining validity in our world and becoming popular with people of all trades and hobbies is shocking to some.
However, the logical person can look back and make sense of it. After all, it’s the better form of payment, if not at least an equally valid competitor against traditional currencies.
After all, look at how it’s garnering attention around the world. The four largest accounting firms on the planet that is, Deloitte, Ernst & Young, PricewaterhouseCoopers, and KPMG are all starting to get their hands on it. In fact, Maryville University recently described blockchain as “the future of accounting!” From experts to religious doomsday preppers, there are even talks of bitcoin becoming a global currency.
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It s been said that every crisis has a silver lining. For many, today s challenging environment presents a unique opportunity to get creative in how we teach the next generation about wealth and the strategies to manage it.
Just as you work hard to secure your own financial future and legacy, it’s also important to ensure that your loved ones can navigate their own financial independence. In my career, I have used quite a few tactics to help prepare the next generation, and I have found the following five strategies to be most effective. But before digging into each strategy, let’s review the basics.