Thanks guys and NotFuzzyWarm
I rather do this legit and keep everyone including the taxman happy
Topic: Bitcoin Mining Operation - Accounting (Read 521 times)
There are some good resources, and a few decent BTC tax lawyers that are a google search away. Keeping meticulous records is the most tedious part.
Since you are running this as a business (best way to do it!) along these lines, be aware of the IRS section-179 for capital equipment expenditures. Miners fall under the same category as PC's, servers, etc. and can be entirely written off as capital equipment necessary for the company:D
Hi All,
Thanks for the help in advance.
As stated in my couple of previous posts I have invested decent sums of money in mining (50K) planning to invest another 200K. Currently refurbishing an industrial building to help support this operation.
Since this a cost oriented exercise, I would like to see if I can do this under a LLC.
Can anyone advise a good accountant in US who does this Crypto related accounting for a living? I want someone who has done this before for a mining operations, need good advice and guidance rather than someone to fill up forms.
Let me know
Thanks for the help in advance.
As stated in my couple of previous posts I have invested decent sums of money in mining (50K) planning to invest another 200K. Currently refurbishing an industrial building to help support this operation.
Since this a cost oriented exercise, I would like to see if I can do this under a LLC.
Can anyone advise a good accountant in US who does this Crypto related accounting for a living? I want someone who has done this before for a mining operations, need good advice and guidance rather than someone to fill up forms.
Let me know
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