virtual currency

Virtual currencies, also called cryptocurrencies or e-currencies, might be relatively new to the world of finance, but they are becoming more common. Bitcoin, for example, is being accepted by retailers as payment and used to pay employees. Some people are holding virtual currencies as capital assets. Regardless of how you use e-currencies, they may be subject to taxation by the IRS. If you are exploring cryptocurrencies, now would be a good time to talk to the team at Edgewater CPA Group about how you can plan for your 2020 taxes.