100 sats \ 2 replies \ @Reachableceo 4 Sep 2023 \ on: Do you report your sats activity on SN for tax purposes? meta
This is a great question. I have been researching how to accept BTC/SATS as payment (in lieu of/in addition to) fiat.
The regulation in the space (especially if I want a bank to custody the assets) (I have a board of directors and we do have Umbrel in development, but ultimately, we would want to custody with our bank) is.... confusing.
Where are the lawyers/accountants with expertise in this domain that my board can hire to provide input?
Let alone the 1099/600 threshold, dealing with exchange rates etc etc etc. Every report I've seen on forums from folks who try todo this above board/legit, say it's a nightmare and the IRS doesn't even have definitive answers.
Zaprite can do online payments and invoicing
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Thanks! Bookmarked. I knew the crowd wisdom would have a solution :)
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