The IRS Takes A Position On bitcoin blueprint review

bitcoin blueprint
Bitcoin used to be something like Schrodinger’s currency. Without regulatory observers bitcoin blueprint review, it could claim to be money and property at the same time.

 

Now the Internal Revenue Service has opened the box, and the virtual currency’s condition is established – at least for federal tax purposes.

 

The IRS recently issued guidance on how it will treat bitcoin, and any other stateless electronic competitor. The short answer: as property, not currency. Bitcoin, along with other virtual currencies that can be exchanged for legal tender, will now be treated in most cases as a capital asset, and in a few situations as inventory. Bitcoin holders who are not dealers will be subject to capital gains tax on increases in value. Bitcoin “miners,” who unlock the currency’s algorithms, will need to report their funds as income, just as other miners do when extracting more traditional resources.

 

Though this decision is unlikely to cause much turbulence, it is worth noting. Now that the IRS has made a call, investors and bitcoin enthusiasts can move forward with a more accurate understanding of what they are (virtually) holding. A bitcoin holder who wants to comply with the tax law, rather than evade it, now knows how to do so.

 

I think the IRS is correct in determining that bitcoin is not money.

bitcoin blueprint review, and other virtual currencies like it, is too unstable in value for it to realistically be called a form of currency. In this era of floating exchange rates, it’s true that the value of nearly all currencies changes from week to week or year to year relative to any particular benchmark, whether it’s the dollar or a barrel of oil. But a key feature of money is to serve as a store of value. The worth of the money itself should not change drastically from day to day or hour to hour.

 

Bitcoin utterly fails this test. Buying bitcoin is a speculative investment. It is not a place to park your idle, spendable cash. Further, to my knowledge, no mainstream financial institution will pay interest on bitcoin deposits in the form of more bitcoins. Any return on a bitcoin holding comes solely from a change in the bitcoin’s value.

 

Whether the IRS’ decision will help or hurt current bitcoin holders depends on why they wanted bitcoins in the first place. For those hoping to profit directly from bitcoin’s fluctuations in value, this is good news, as the rules for capital gains and losses are relatively favorable to taxpayers.

This characterization also upholds the way some high-profile bitcoin blueprint review

 

Including the Winklevoss twins, have reported their earnings in the absence of clear guidance. (While the new treatment of bitcoin is applicable to past years, penalty relief may be available to taxpayers who can demonstrate reasonable cause for their positions.)

 

For those hoping to use bitcoin to pay their rent or buy coffee, the decision adds complexity, since spending bitcoin is treated as a taxable form of barter. Those who spend bitcoins, and those who accept them as payment, will both need to note the fair market value of the bitcoin on the date the transaction occurs. This will be used to calculate the spender’s capital gains or losses and the receiver’s basis for future gains or losses.

 

While the triggering event – the transaction – is easy to identify, determining a particular bitcoin’s basis, or its holding period in order to determine whether short-term or long-term capital gains tax rates apply, may prove challenging. For an investor, that might be an acceptable hassle. But when you are deciding whether to buy your latte with a bitcoin or just pull five dollars out of your wallet, the simplicity of the latter is likely to win the day. The IRS guidance simply makes clear what was already true: Bitcoin isn’t a new form of cash. Its benefits and drawbacks are different.

 

The IRS has also clarified several other points. If an employer pays a worker in virtual currency, that payment counts as wages for employment tax purposes. And if businesses make payments worth $600 or more to independent contractors using bitcoin, the businesses will be required to file Forms 1099, just as they would if they paid the contractors in cash.

 

Clearer rules may cause new administrative headaches for some bitcoin users, but they could ensure bitcoin’s future at a time when investors have good reason to be wary. “[Bitcoin is] getting legitimacy, which it didn’t have previously,” Ajay Vinze, the associate dean at Arizona State University’s business school, told The New York Times. He said the IRS decision “puts Bitcoin on a track to becoming a true financial asset.” (1)

 

Once all bitcoin users can recognize and agree on the type of asset it is, that outcome is likelier.

Maryland Addiction Dual Diagnosis Treatment Services

Maryland Addiction

Maryland Addiction Dual Diagnosis Treatment Services

Maryland Addiction Dual Diagnosis Treatment Services

Most drug rehab Maryland Addiction services, including alcohol treatment programs, are geared towards serving a white, heterosexual, male, client. Unless great effort has been put into awareness training, developing knowledge about the experiences and circumstances of minority groups, and the establishment of programs to deal with the special needs of different groups of oppressed people, services will simply perpetuate institutional discrimination.

 

Gay Alcohol Treatment Programs Not Adequate

 

U.S. researchers Lohrenz et al (1978) found that 37% of homosexuals experienced discrimination from alcohol treatment program staff while Fifield, De Crescenzo & Latham (1975) discovered that 75% of homosexuals who are recovering from alcoholism believe that mainstream drug rehab and alcohol rehab program are not geared to treating homosexuals and do not provide an accepting and supportive environment. Because of discrimination homosexuals are less likely to attend an alcohol treatment program and drug addiction Maryland Addiction treatment program unless, that is, they are ‘passing.’ In this case, if the clinician does not bring up the subject, one of the major causes of their problems will be ignored. Rofes (1989) says: By ignoring the special problems that a lesbian alcoholic, for example, presents, an alcohol treatment program will be doing a service to no one. Their alcoholism treatment of the individual will be less than adequate and may tend to intensify the woman’s feelings of isolation and ‘difference.’ Only by bringing the issue into the open and addressing the woman’s lesbianism as an aspect of her life which she needs to feel positively about, will the program be truly effective.

 

Avoiding Coming Out

 

Shernoff & Finnegan (1991) discuss the case of a lesbian who is hiding her sexuality, then stress: It is the responsibility of each alcoholism treatment counselor to take the lead in this area the same way alcohol treatment counselors routinely question early family history, dynamics of shame, denial and spirituality. By omitting questions about sexual orientation, or the more subtle questions about sexual or affectional feelings or fantasies for a person of the same sex, the counselor is not obtaining information about all the possible contributing factors for achieving and maintaining sobriety. While Hellman et al (1989) note: Therapists may fear causing anxiety by asking patients about sexual orientation because of discomfort with the subject. However, this questioning can be essential in helping to overcome the secrecy and denial that are hall marks of the struggle with both alcoholism and homosexuality. Of course, if a worker is ignorant about homosexuality s/he is likely to make the situation worse:

 

Problems Faced In Gay Alcohol Maryland Addiction Programs

 

American surveys, referred to by Hellman et al (1989), reveal a list of complaints about mainstream provision ranging from

 

  • heterosexual bias in alcoholism treatment and evaluation (including either focusing primarily on sexual orientation when inappropriate or ignoring important factors linked with sexuality)

 

  • ignorance about lesbian/gay issues and discomfort at approaching matters of sexuality

 

  • ignorance about the inter-relation of homosexuality and alcohol abuse

 

. Neisen & Sandall (1990) worked at a program designed to offer alcohol treatment to chemically dependent lesbians and gays. They list their clients’ experiences of non-gay drug rehab or non gay alcohol rehab, which include:

 

difficulty in being open about their sexual orientation due to fear of staff/client harassment,· staff telling them it wasn’t acceptable to discuss sexual orientation

 

some were forced to disclose their sexual orientation

 

as soon as their sexuality was known, some were discharged

 

some said that after disclosure the alcohol treatment they received was different due to an atmosphere of condemnation

 

some feared that if their sexual orientation was known about this would receive more emphasis than their chemical dependency

 

Some addiction treatment programs were not happy having their partner attend a family program.

 

Citing Morales & Graves (1983) and Hellman, Stanton, Lee, Tytun and Vachon (1989), O’Hanlan (1996) notes:

 

  • the majority of detox and drug rehabilitation and alcohol rehab programs were insensitive to issues of sexual orientation and did not, generally, encourage its disclosure

 

  • homophobia limits the success of recovery and alcohol treatment for lesbian substance abusers

 

 

 

 

Learn the Benefits Of Glucosamine For Dogs – Joint treat for dogs

Joint treat for dogs

Joint treat for dogs

Joint treat for dogs

Found in the cartilage of living animals is a natural substance known as glucosamine. Aiding in the production of cartilage, glucosamine helps to build healthy joints in animals such as dogs. For years, people have been supplementing glucosamine for dogs with much success. They have found that by using this supplement, there is significant pain relief for dogs suffering with joint problems such as osteoarthritis. Recognizing the signs of joint pain, understanding the uses and learning how glucosamine works can help you decide if glucosamine is right for your pet.

 

Glucosamine is widely known for its ability to assist in providing relief for joint conditions and diseases. Osteoarthritis is a common affliction to dogs with senior pets more likely to be affected. All joints can be affected but hip joints are most commonly involved. This is also known as hip dysplasia which can cause the cartilage of the joints to be worn at a significantly higher rate. This can lead to painful bone to bone contact causing great pain and discomfort. Osteoarthritis can also affect knees, shoulders and elbows. All of these conditions respond well to glucosamine.

 

Before giving your dog glucosamine joint treat for dogs, there are some indications that can help you decide if it is right for your pet. Your pet may show signs of discomfort or stiffness, which may be more noticeable in the morning upon rising or in colder temperatures. Some pets may limp, have difficulty climbing steps, moving around or jumping. Your dog may show signs of pain or discomfort during normal activities such as walking or standing. If you start noticing such symptoms, you may want to try glucosamine.

 

Just why glucosamine is beneficial to joint health is a question many people might have. When dogs are younger, cartilage is routinely broken down and replaced. Naturally occurring, glucosamine helps synthesize the growth of new cartilage. As pets age, they are not able to produce glucosamine at the levels they could when they were younger.

 

As a result, the underproduction of new cartilage can result in painful joint treat for dogs

 

Over time, this can cause significant discomfort and pain. By supplementing, you are able to increase the amount of new cartilage being produced. This increase in production helps to even out the balance thus providing pain relief. Because of the way glucosamine acts, it provides not only short term pain relief but enables the body to produce cartilage at a faster rate providing longer term benefits.

 

There are many products available that are helpful in relieving dogs of joint pain. Many of these are designed to provide pain relief while the medication is being actively administered. Glucosamine is intended to provide relief from joint pain while also providing the essentials to help build up new cartilage. Glucosamine is generally recommended as a daily supplement, though some dogs may not need long term supplementation. This is due to the fact that glucosamine effectively targets and treats the cause of joint pain instead of just treating the acute symptoms. It is important to familiarize yourself with the many uses of glucosamine for dogs. This can help you determine if it is something that will work for your pet. Knowing the signs of joint pain and how glucosamine works can help you decide if this is a supplement that would be beneficial for your dog.