Professional Tax & Bookkeeping Services

Welcome to TJONESTAXES.COM. For more than 20 years, Tom Jones has provided professional bookkeeping and tax services for Burlington, Graham, Elon, Gibsonville and surrounding areas of North Carolina.

Whether you need individual tax preparation or business tax services, you will receive the highest level of care and attention from Tom Jones and his experienced staff.

As a full-service tax firm, we are committed to reducing your tax liability, maximizing your return, and helping to resolve any tax issues you may have. Call now (336-395-3777) to schedule an appointment.

How to Know When Your Cryptocurrency Is Taxed

Bitcoin and other cryptocurrencies have transitioned from an underground fiat economy to mainstream acceptance. With the crypto market value topping out at $2.6 trillion in 2021, its clear that a decentralized economy is hatching right before our eyes.

No longer is paying through the blockchain a dark art. Now you can pay your AT&T phone bill in Bitcoin. Now you can add cryptocurrency to your IRA. Now you can pay for your Home Depot purchase with crypto. And now the IRS wants their fair share of your digital assets, and they intend to get it.

Whether you have a few bitcoins rattling around in your digital wallet, or if you are exploring how to add cryptocurrency to your investment portfolio, beware. The IRS is getting serious about crypto tax enforcement and not knowing when to report gains and losses can cost you big in IRS penalties.

But relax. Not everything you do with cryptocurrencies is taxable. Let’s look at what events trigger a reporting requirement and require you to pay the IRS.

Read the rest of the article.

Bitcoin and Your Taxes

Bitcoin has become a popular and legitimate form of currency, accepted by companies around the world. Tom Jones is trained to help you benefit from cryptocurrency while remaining in compliance with IRS requirements. Click HERE to learn more.