Creating a successful business requires a good idea combined with skill, talent and ambition. However, even if you have all of those elements, you may end up falling short if you can’t raise the capital that you need to move forward.
In part 1 of our three-part series, we introduced cryptocurrency in general. Next, let’s explore the challenges and opportunities that exist for those hoping to earn, store and spend their bitcoin or similar cryptoassets.
The Crypto-Possibilities
The PayPal loophole is going away in a little over six months from now.
You used to be able to avoid giving 1099s to contractors and vendors when you use PayPal or a similar service as your payment platform. This pushed the reporting requirements to PayPal. Current federal law requires that PayPal file Form 1099-K with the IRS and send it to you when:
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