IRS vs NFTs: Are Higher Taxes Coming for Your Digital Art?

Clinton explores a controversial new IRS ruling proposing to tax NFTs as collectibles at an escalated 28% long-term capital gains rate. Alongside experienced crypto tax attorney, Andrew Gordon, he analyzes this potential change that could have a significant impact on the NFT community. Together, they unpack the definition of collectibles under the tax code, debate the tangibility and artistic qualities of NFTs, and discuss the practical difficulties of implementing such a tax. Tune in for an insightful discussion on the rapidly evolving intersection of cryptocurrency and tax law. If you're an NFT holder or interested in crypto, this is one conversation you won't want to miss!

CryptoTaxAudit is the ultimate solution for ensuring your crypto taxes are precise and fully compliant with the latest regulations. With expert guidance and support, you can avoid costly penalties and enjoy complete peace of mind. Don't take any chances with your hard-earned assets. Become a Audit Defense member today and take control of your financial future! Visit CryptoTaxAudit.com today.

Join our community on YouTube @TheClintonDonnellyShow and on Twitter @CryptoTaxFixer

Guest: Andrew B. Gordon, managing attorney at Gordon Law Group

A dual-professional combining his Certified Public Accountant credentials with a law degree from Chicago Kent College. He specializes in areas like tax compliance, cryptocurrency law, FTC defense, internet law, and corporate litigation.

Renowned among tech startups and affiliate marketers, he expertly navigates legal complexities while bolstering profits and reducing risk. His relentless commitment yields impressive savings for his clients and delivers peace of mind.

Follow Gordon Law Group for more information and daily insights:

Twitter 👉 @gordonlawltd

YouTube 👉 @gordonlawltd

Website 👉 Gordon Law Group