John Tellis is a CPA and Bitcoin consultant specializing in taxation and wealth management for high-net-worth individuals and families.

In this episode, you're going to learn why Bitcoin is not anonymous and how blockchain transparency affects its use, practical steps to manage tax obligations when buying, selling, or holding Bitcoin, key considerations for businesses accepting Bitcoin as payment, the challenges and opportunities of relocating Bitcoin to different tax jurisdictions, and strategies for intergenerational planning with Bitcoin wealth.

Jon Tellis is an Accountant, Chief Technology Officer, and Partner at nmbrly.ai. His firm provides Accounting, Tax, Advisory, and CFO services to Bitcoin and other tech businesses. He is also an entrepreneur focused on the development of disruptive technology in the FinTech space. He is co-founder of Generatio.me, a professional services network offering Bitcoin family office and advisory services.

Timestamps:

[03:00] Bitcoin is not anonymous

[04:12] Understanding blockchain transparency

[05:25] Tax implications of Bitcoin transactions

[06:42] Reporting Bitcoin gains and losses  

[08:14] Using Bitcoin wallets effectively  

[09:27] Taxation differences between countries  

[10:36] El Salvador’s approach to Bitcoin  

[11:42] Planning for Bitcoin wealth transfer  

[12:56] Teaching the next generation about Bitcoin

[14:15] Moving Bitcoin across borders

[15:28] Challenges of relocating Bitcoin wealth  

[16:45] Tax obligations for Canadians holding Bitcoin

[17:59] Unrealized capital gains taxation

[19:12] Potential global Bitcoin tax policies

[20:24] Bitcoin as a borderless technology

[21:36] Importance of harmonized tax strategies

[23:04] Bitcoin's volatility and taxation

[24:15] Fair treatment of Bitcoin compared to other assets

[25:28] Vancouver’s Bitcoin-friendly policies

[26:44] Bitcoin as a strategic reserve

[27:58] Paying property taxes with Bitcoin

[29:16] Encouraging businesses to accept Bitcoin

[30:32] Accounting complexities with Bitcoin transactions

[31:46] Benefits of stacking Bitcoin for businesses

[33:04] Vendor education on Bitcoin reporting

[34:18] Long-term advantages of accepting Bitcoin

[35:34] El Salvador’s evolving Bitcoin policies

[36:42] Bitcoin as an investment vs. medium of exchange

[37:59] Regional differences in Bitcoin adoption

[39:14] Future of global Bitcoin policies

[40:24] Mining opportunities and Bitcoin development

[41:38] Educating new Bitcoin investors on taxes

[42:52] Preparing for Bitcoin’s long-term value

[44:05] Managing Bitcoin legacy planning

Want to start a podcast like this one? Book your free podcast planning call here.

If you want to connect with Jon, follow him on LinkedIn or the nmbrly website.

Resources Mentioned:

Generatio | Website

MicroStrategy | Website

FASB | Website

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