The CryptoLaw Podcast: A Very Special Episode – The Tax Man Cometh!
As any small business owner knows, having to deal with state and federal wage and hour laws can be something of a challenge. Add to that the issue of taxes—and not just income tax but FICA (Social Security tax, the “regular” Medicare tax; and the Medicare surtax )—then things start to get a lot more onerous. So what happens when you want to pay your employees or contractors (or they want to get paid) in cryptocurrency, like Bitcoin, Ether, maybe even a blockchain project’s native token?
You’re about to find out because today we have our first ever special guests on The CryptoLaw Podcast – Patrick Devereaux and Shehan Chandrasekera, both of whom know a little something about how to deal with paying wages with cryptocurrency including the tax consequences.
This is our first special break-out episode, hosted by Grant Gulovsen. Don’t worry, though. Your regular weekly episode is still on deck, but we wanted to get this one out pronto because it includes some exceptionally useful information for anyone trying to build a business around cryptocurrency and blockchain technology.
Our special guests this week were:
Patrick is an experienced consultant with a strong background in accounting and finance in the software industry. He is currently a partner at Apereum, a professional consulting firm that provides end-to-end solutions for startup companies. You can email him at Patrick@apereum.com.
Shehan is an entrepreneurial CPA who is passionate about blockchain and other new technologies. He speaks at Fintech and blockchain conferences and serves on the advisory board of host of companies, across industries, in addition to being a partner at JAG CPAs & Co. You can contact him via email at firstname.lastname@example.org.
The information presented in The CryptoLaw Podcast is provided for educational, informational, and entertainment purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. It is not intended to be, and does not, constitute legal, financial, investment, trading, or any other advice. This podcast does not establish a lawyer-client relationship between you or anyone else, including any of the attorneys appearing on the podcast. All of the information presented is general in nature and is not specific to you or anyone else. Do not make any decision, legal, financial, investment, trading or otherwise, based on any of the information presented in this podcast without consulting a licensed attorney or professional financial advisor, as appropriate. You understand that you use or rely on any and all Information your hear on this podcast at your own risk.
If you would like to hear us cover a particular topic on an upcoming episode of The CryptoLaw Podcast, leave a comment below, on our Contact Us page, via Twitter @thecryptolaw, LinkedIn CryptoLaw Podcast, or just message one of our hosts (Roxana Nasoi, Ramy Gabal, or Grant Gulovsen) via DM on social media.