All Forum Posts by: Bob Langworthy

You sound like a person of faith. The way we look at giving is on our net business income. If we showed a loss, we wouldn't give. Not sure if this gets at your question.

I'm a big fan of small banks and Mechanics Savings Bank in Brunswick is excellent. Brian or Justin should be able to take care of your needs.

And remember that the House and Senate need to meet to reconcile the differences in their bills so nothing is final yet. After they do that, the final version needs to be voted on and that Senate bill was really close.

The House and Senate need to reconcile their differences and then vote on the final version. Still a little early to know and that Senate vote was very close. Too many changes to the bill and it might not pass again.

Portland is a fantastic little city that consistently ranks high in quality of life and quality of food. But you probably already knew that if you're moving here! There's a great, high octane realtor in Topsham named Tim Dunham. Topsham is halfway between Portland and Augusta and Tim works throughout the Midcoast area. Hope your property search and move go well!

Sorry, everyone. I didn't realize I couldn't link to a blog I wrote on the taxation of cryptocurrency. Here's the basics:

1) The IRS wants to tax your worldwide income.

2) In 2014 the IRS wrote that "For federal tax purposes, virtual currency is treated as property."

3) Because of this, it receives capital gains treatment.

Since most of you around here understand capital gains, I won't bore you with the details. Suffice it to say, if you have sell cryptocurrency and have a gain (doesn't everyone?) then you need to report it and pay the taxes.

Hope that helps!

Welcome to BP!

Brian and Denis nailed it. Find a great attorney and accountant to work with and you will avoid a lot of headaches and expense down the road.

Read the fine print...

John and Carl are spot on. Also consider outsourcing this function and focusing on your strengths. I see a lot of small business owners pulling their hair out over bookkeeping and losing sight of their primary business and goals. Strengthen your strengths and hire your weaknesses.