Parents, it’s time for ‘the talk’: Did your kid trade crypto in 2020?
Now is the time to look beyond your own income-producing activities and look to your children’s crypto as well. The taxation of cryptocurrency is no longer just a young person’s problem. That changed the day the United States Internal Revenue Service made cryptocurrency a focal point of enforcement and added a crypto disclosure question on its Form 1040. Unsuspecting parents with dependent children should be on guard. The IRS is looking for noncompliance, and crypto questions create a possibly perjurious trap. Noncompliance may be sleeping in the basements of many unwary parents.As of....
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Investing in digital assets can offer a plethora of opportunities, but when the taxman comes, investors best be prepared. Hindsight is 20/20, but when money is on the line, being prepared can give investors better foresight. Just over a year and a half ago, Investopedia reported on the panic among many crypto investors who’d found themselves on the wrong side of the taxman. The article read, “Online forums like Reddit are abuzz with posts citing possible scenarios by worried investors about pending tax liabilities for their past dealings in cryptocoins, which may now leave them poorer.”As....
In a testament to the growing adoption of bitcoin across generations, a study revealed that younger parents are starting to use the cryptocurrency to give funds to their children. Some of these are used by their kids to make purchases on iTunes or as credits in online gaming apps while others rely on bitcoin for allowances. In particular, a third of the parents included in the poll opt to transfer a weekly amount into their children's digital bank accounts. This research was conducted by financial technology firm, Intelligent Environments, and included 2,000 parents in the survey. Bitcoin....
Bitcoin, the metaverse and NFTs are the talk of the town these days, but how much do you think it would help our children if they knew about this? A recent survey including more than 800 parents and 200 college graduates in the United States was conducted to gain a greater perspective and understanding of […]
Bitcoin Press Release: Sportsbet.io kick-off interactive sports community with unique Club Talk feature. May 6th, 2021 Tallinn, Estonia — Sportsbet.io is inviting users to its new “Club Talk” room, a game-changing chat function where its community can talk sports while discussing and sharing bets. Chat Sports With Club Talk Club Talk is now live at […]
Crypto educated American moms and dads are already sinking an average of $766 into extra-curricular crypto education for their kids, according to the survey. Over two-thirds of U.S. parents and college graduates with an understanding or involvement in crypto believe that crypto should be taught in schools in order for students to “learn about the future of our economy,” a new study has found. In a newly released survey from the online educational platform Study.com, the firm found that 64% of the parents 67% of the college graduates surveyed believed that cryptocurrencies should be part of....