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Posts Tagged ‘Bitcoins’

Rapper 50 Cent Boasts and then Denies Having Bitcoin

March 5th, 2018

Rapper 50 Cent, in bankruptcy, initially boasted that he was the recipient of 700 bitcoins for one of his albums.  At the time, the ownership of the bitcoins would have made him a millionaire, but his bankruptcy estate would have been very interested in the bitcoins.  Now, 50 Cent claims that he never owned the bitcoins and blamed the reports on fake news.

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2014 Tax Tip #4 – Bitcoins

December 18th, 2014

The IRS has stated that virtual currency is treated as property for tax purposes and will be subject to general tax principles for property transactions.  For more tax help, contact our office at 816-524-4949.