Contact Gordon Law Group here: https://gordonlawltd.com/cryptodad/
00:00 Introduction
00:41 Andrew Gordon Experience & Background
01:21 What are the basics when it comes to crypto & taxes?
03:30 How have you navigated the IRS crypto guidelines or lack thereof?
04:55 How do you gather crypto tax related information from your clients?
06:33 How are staking rewards taxed?
08:17 How do we deal with lost or missing crypto transactions or wallets?
12:14 Is moving crypto from an exchange to my wallet considered a taxable event?
13:05 How do crypto taxes work when we get paid for work/services directly in crypto?
14:20 Can you prepare tax returns for anyone in the 50 states? How would that work?
16:47 What resources do you have to help clients that are not tech savvy?
19:37 Can you work with clients who want to use their existing tax professional or CPA?
20:52 What if I had crypto transactions in the past but have already filed my taxes?
22:17 How do I deal with crypto tax scammers that demand crypto or bank info?
Legal & Disclaimer Notice: This video is provided solely for informational and/or educational purposes. It is not offered as advice (whether professional, financial or investment advice or otherwise). Investing in Cryptocurrencies is inherently risky. Never spend money on Cryptocurrencies you can’t afford to lose.
I am not qualified to provide Legal Tax Advice. The principles discussed in the video should be considered general advice. Please consult your CPA or Tax preparer for specific advice for your individual needs.
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How to Set Up & Use the Ledger Nano X Hardware Wallet with Phone & Computer (Latest Version 2023): https://youtu.be/LOk-9i23xS8
How to Recover Your Lost Crypto Using the Ledger Device vs Using Ledger Live: https://youtu.be/tcspePxhkhk
How to Restore a Ledger Nano X Hardware Wallet from your 24 Word Backup Phrase (Latest Version 2021): https://youtu.be/iaPzg2mg9aQ
How to Re-Install Ledger Live on a New Computer (Latest Version 2021): https://youtu.be/sIeB4xS4ZfQ
How to Upgrade Your Ledger Nano X to Firmware Version 2.0 (Covers Bluetooth Pairing Reset Issue): https://youtu.be/3OXIJp0traQ
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? DISCLAIMER: This video is for educational purposes only and should not be considered financial advice. Always do your own research before investing in cryptocurrencies.
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What is Bitcoin?
Bitcoin is a new technology that functions as a digital currency. It is a peer-based, decentralized way to hold, store, send, and receive value. It does this by maintaining a cryptographic “ledger” called the Blockchain. All of the bitcoins in existence are created and stored on the Blockchain.
Bitcoin with a capital “B” refers to the technology itself. Bitcoin spelled with a little “b” refers to the tokens that hold the value and can be exchanged with others.
Multiple copies of the Blockchain exist on thousands if not millions of computers worldwide. Each copy of the Blockchain “verifies” itself by connecting to the Internet and making sure it has the most up-to-date list of transactions. The Blockchain maintains its integrity by using strong, modern, encryption techniques. This makes it impossible for anyone to alter the ledger, create fake transaction or “double-spend” their bitcoins.
Bitcoins do not require banks or third-party financial services to act as central clearing houses for electronic transfers. In essence, Bitcoin technology “cuts out the middleman”. Bitcoin is a decentralized, peer-to-peer monetary system that exists outside of the traditional, centralized, fiat-currency based financial system.
Is Bitcoin money?
Good question! The short answer is yes! But the long answer requires that we talk a little about what “money” is or what it should be.
Money is basically an idea. It is a system that we can all agree upon which allows us to exchange value, so we do not have to carry around cows or chickens with us to trade for the things we need.
An ideal money or “currency” should have the following properties:
Portable
Fungible (interchangeability)
Dividable
Durable
Cognizable (easily identified)
Stable
Does B
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https://www.youtube.com/watch?v=1BAZYfMzJI0
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Privacy Tools: Check them out https://www.privacytools.io/
Privacy based phones & OS
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? NEWS STORIES COVERED ?
CORONAVIRUS WILL SEND BITCOIN PRICE TO 100,000 IN 2020 MAX KEISER
https://cointelegraph.com/news/coronavirus-will-send-bitcoin-price-to-100-000-in-2020-max-keiser
INDIA SUPREME COURT LIFTS RBI BAN ON BANKS SERVICING CRYPTO FIRMS
https://cointelegraph.com/news/india-supreme-court-lifts-rbi-ban-on-banks-servicing-crypto-firms
RESERVE BANK OF INDIA TO APPEAL SUPREME COURT’S CRYPTO DECISION
https://cointelegraph.com/news/reserve-bank-of-india-to-appeal-supreme-courts-crypto-decision
SOUTH KOREAN LAWMAKERS GREENLIGHT STRICT CRYPTO AML BILL
https://www.coindesk.com/south-korean-lawmakers-greenlight-strict-crypto-aml-bill
CRYPTO.COM APP ADDS DUST CONVERSION TO MCO/CRO
https://blog.crypto.com/crypto-com-app-adds-dust-conversion-to-mco-cro/
ENHANCING YOUR LEDGER EXPERIENCE: LEDGER LIVE MANAGER VERSION 2.0 IS NOW AVAILABLE
https://www.ledger.com/enhancing-your-ledger-experience
?CHECK OUT THESE GREAT LEDGER VIDEOS FROM CRYPTODAD!?
My most popular Ledger Nano S Video: Using Ledger Live with Your Ledger Nano S https://youtu.be/XVSTZ7DwB8Q
Great Video for Restoring Ledger Nano S: Restore Ledger Nano S Using Ledger Live https://youtu.be/modccBd0Jds
Ledger Nano X Videos:
How to Set up the Ledger Nano X: https://youtu.be/zMCoaRfyGO4
How to Buy Bitcoin and Store it on a Ledger Nano X https://youtu.be/c_T-9XardEQ
How Restore to Ledger Nano X from the 24 Word Recovery Phrase of Your previous Ledger
Nano S https://youtu.be/Bg-eEaRp1r4
How to Transfer All of Your Cryptocurrency Assets from Ledger Nano S to Ledger Nano X https://youtu.be/707_RpVa6x4
How Buy Bitcoin Using the Cash App & Store it on Ledger Nano X https://youtu.be/NbnX3p9Jew0
How to Buy Monero on Shapeshift & Store in a Ledger Nano X https://youtu.be/CVtlFOM9Q5Y
How to Purchase Stellar Lumens and Store on a Ledger Nano X https://youtu.be/aZWQtTR99H8
Ledger Live Now Supports ERC20 Tokens and Native Segwit Bitcoin Addresses https://youtu.be/tb9XhEVFnWM
Using Ledger Live to Send ERC20 (BAT) Tokens to Your Ledger Nano Device https://youtu.be/f7eB8vc1BQc
How to use Multiple Ledger Nanos with the Same Copy of Ledger
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00:00 Introduction
00:35 The Dangers of Wiping Your Old Phone Before Transferring Google Authenticator Codes
01:10 The Rational for Trading in Your Old iPhone
02:08 How to Hang on to Your Old Phone When Ordering Online
02:40 How to Hang on to Your Old Phone When Purchasing Phone in Person (Verizon At&T)
03:35 How to Hang on to Your Old Phone When Purchasing Phone in Person (Apple Store)
04:17 Exporting Your Google Authenticator Codes From Your Old iPhone to Your New iPhone
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Or use the code cryptodad when registering. Thanks!
?CHECK OUT THESE GREAT LEDGER VIDEOS FROM CRYPTODAD!?
Top Trending Videos:
Legal & Disclaimer Notice: This video is provided solely for informational and/or educational purposes. It is not offered as advice (whether professional, financial or investment advice or otherwise). Investing in Cryptocurrencies is inherently risky. Never spend money on Cryptocurrencies you can’t afford to lose.
Social Media links!
Twitter: https://twitter.com/The_CryptoDad
YouTube: https://www.youtube.com/CryptoDad
#iphone14 #googleauthenticator
...
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? TOPICS COVERED ?
What is Bitcoin?
What is Blockchain?
What is hash?
What is a bitcoin wallet?
What is the difference between a hot wallet and a cold wallet?
What is the difference between a custodial and non-custodial wallet?
How can you prove ownership of bitcoin?
What is 2-factor authentication?
Why are there different coins?
What are the differences between the top cryptocurrencies?
? OPEN A CRYPTO.COM ACCOUNT ?
Use my referral link https://platinum.crypto.com/r/cryptodad to sign up for Crypto.com and we both get $50 USD :)
Or use the code cryptodad when registering. Thanks!
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Privacy Tools: Check them out https://www.privacytools.io/
Excerpts from: MASTERING BITCOIN
The Bitcoin Book – Programming the Open Blockchain by Andreas M. Antonopoulos
https://github.com/bitcoinbook/bitcoinbook
?CHECK OUT THESE GREAT LEDGER VIDEOS FROM CRYPTODAD!?
My most popular Ledger Nano S Video: Using Ledger Live with Your Ledger Nano S https://youtu.be/XVSTZ7DwB8Q
Great Video for Restoring Ledger Nano S: Restore Ledger Nano S Using Ledger Live https://youtu.be/modccBd0Jds
Ledger Nano X Videos:
How to Set up the Ledger Nano X: https://youtu.be/zMCoaRfyGO4
How to Buy Bitcoin and Store it on a Ledger Nano X https://youtu.be/c_T-9XardEQ
How Restore to Ledger Nano X from the 24 Word Recovery Phrase of Your previous Ledger
Nano S https://youtu.be/Bg-eEaRp1r4
How to Transfer All of Your Cryptocurrency Assets from Ledger Nano S to Ledger Nano X https://youtu.be/707_RpVa6x4
How Buy Bitcoin Using the Cash App & Store it on Ledger Nano X https://youtu.be/NbnX3p9Jew0
How to Buy Monero on Shapeshift & Store in a Ledger Nano X https://youtu.be/CVtlFOM9Q5Y
How to Purchase Stellar Lumens and Store on a Ledger Nano X https://youtu.be/aZWQtTR99H8
Ledger Live Now Supports ERC20 Tokens and Native Segwit Bitcoin Addresses https://youtu.be/tb9XhEVFnWM
Using Ledger Live to Send ERC20 (BAT) Tokens to Your Ledger Nano Device https://youtu.be/f7eB8vc1BQc
How to use Multiple Ledger Nanos with the Same Copy of Ledger Live
https://youtu.be/dw2AiMiTpXI
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The Crypto Dad shows you how to set up the Ethereum wallet. We go through downloading (with verification) and installing the Ethereum wallet. Important software used is:
Ethereum Project Home page:
https://electrum.org/#home
Software verification is done with:
MD5 & SHA Checksum Utility
https://raylin.wordpress.com/downloads/md5-sha-1-checksum-utility/
The video shows you how to directly fund your new Ethereum wallet. I do this with a debit card. This technique creates a Coinbase account “on the fly” and transfers your purchased coins directly into your Ethereum wallet. If you would like to explore the Coinbase website, you can go here:
https://www.coinbase.com/dashboard
...
https://www.youtube.com/watch?v=KAh0N3KcsMg
The CryptoDad shows you how to check to see if you have received any Tron tokens by virtue of owning Ethereum in a private wallet. You need to have sent or received ETH after January 1, 2018 and had at least 1 ETH in your wallet during the snapshot on April 20th, 2018
Be sure and join the CryptoDad for his “Live Q & A from LA” every Friday night at 6:00 PM PST
Some info on the 30 M Tron Airdrop:
http://bitcoinist.com/tron-trx-completes-its-ethereum-eth-airdrop-ahead-of-main-net-launch/
https://medium.com/@Tronfoundation/answers-to-frequently-asked-questions-of-tron-738b4653758a
More About Tron: https://tron.network/en.html
Here is my video on transferring your Tron to an exchange in preparation for the main-net launch:
How to Prepare for the Tron Migration from ERC20 tokens to Tron Network
...
https://www.youtube.com/watch?v=yIGhGqroIh8
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Try the Brave Browser: https://brave.com/rex704
Legal & disclaimer Notice:
This video is provided solely for informational and/or educational purposes. It is not offered as advise (whether professional, financial or investment advice or otherwise) Investing in Cryptocurrencies in inherently risky. Never spend money on Cryptocurrencies you can’t afford to lose.
Social Media links!
Twitter: https://twitter.com/The_CryptoDad
YouTube: https://www.youtube.com/CryptoDad
Support CryptoDad’s Channel
Donate Bitcoin:
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Donate XRP:
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#coinbasecard #bitcoin #coinbase
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