Digital Currency

LibraTax is designed to help balance the Bitcoin books by optimizing capital gains/loss reporting on virtual currency transactions.

From food trucks to online retailers, a growing number of mainstream businesses are accepting virtual currencies, such as Bitcoin, as a payment method. But as the popularity of digital cash rises, states are beginning to look at ways to regulate its use.

One of the leading developers of online sales and use tax automation software has developed the first such system to support bitcoin and other virtual online currencies.

If you’re old enough to remember the “pre-laser printer days” (and the profession’s demographic says nearly 80 percent of you are), you’ll no doubt recall that old dot-matrix and line printers were often loaded with lined paper that we loving dubbed green-bar.

From the 2008 Tax Season Survival Guide

Column: The eSecurity Advisor