Author - John Bird

1
Four Years, A Lifetime of Achievements
2
What We Know about How the IRS Treats Taxation of Cryptocurrencies
3
The Passing of the Tax Cuts and Jobs Act – What You Should Know
4
Bitcoin 101 FAQs
5
We Now Return You to Your Regularly Scheduled Update on the Economy and Markets …

Four Years, A Lifetime of Achievements

FRI, FEB 2nd, 2018

Two days ago I was interviewed and quoted by Reuters News regarding the Fed’s January FOMC statement. But the dialogue and policy decisions – or lack thereof – from this rather uneventful meeting was not what I wished to truly cover. The January meeting was Janet Yellen’s last. It was the end of an era – cut far too short by a man who only made a change because he wanted to place his mark on the Fed – whatever that means. The best person for the job wasn’t what mattered. And make no mistake, Janet …

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What We Know about How the IRS Treats Taxation of Cryptocurrencies

THURS, JAN 25th, 2018

The IRS has provided little guidance regarding virtual currencies such as bitcoin, Ethereum, and Litecoin. The most notable IRS publication, Notice 2014-21, states “For federal tax purposes, virtual currency is treated as property. General tax principles applicable to property transactions apply to transactions using virtual currency.”

What does this IRS statement mean to virtual currency users? It means that you will need to file and/or pay taxes if you traded, sold, or used virtual currencies to make a purchase. Consider the following scenarios:

1. If you bought a virtual currency and sold it for a gain, …

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The Passing of the Tax Cuts and Jobs Act – What You Should Know

THURS, DEC 21st, 2017

As you have likely seen in the news, The Tax Cuts and Jobs Act was passed by both the House and the Senate this week. This bill is widely expected to be signed into law by President Trump. The bill brings important changes to most American families – likely including yours.

At Albion Financial Group, we are not accountants nor are we attorneys. However, as a financial advisor, we want to make sure you are aware that this bill likely impacts you and that there are year-end actions that may be financially beneficial.  Most importantly, we …

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Bitcoin 101 FAQs

MON, DEC 11th, 2017

Bitcoin 101 FAQs:

Bitcoin, and more broadly cryptocurrencies, are seeing increasing news coverage. This has left many wondering: “What is bitcoin and how does it work?” For those trying to better understand bitcoin and cryptocurrencies, here’s our understanding on a handful of frequently asked questions:

What is bitcoin?

Bitcoin is a digital “currency” that can be used to purchase goods and services (only at select locations, for now), or held as a store of speculative value. There are many differences between bitcoin and traditional currency, but the principal difference is that bitcoin is not issued by …

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We Now Return You to Your Regularly Scheduled Update on the Economy and Markets …

THURS, NOV 2nd, 2017

The U.S. economy continues down its years-long path of expansion. Despite the endless cacophony of hoopla and noise from the new regime in Washington D.C. the track of growth has neither picked up nor dissipated. Our broad assessment infers that the bedrock of the economy – e.g., jobs, sentiment, private sector balance sheets, and aggregate demand – is healthy. Meanwhile lawmakers have been in a state of gridlock for the majority of the year. Taken together, a measured and stable economy with little in the way of dramatic new policies from the Beltway is a celebrated …

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