Cryptocurrency

Pink Floyd reference for attention!

We've got 132 members in here and not a peep! I realize that most accountants and tax practitioners steer clear of this topic, and for good reason too. It's complex and ever-changing and, frankly, it's a lot to wrap your head around if you haven't spent years personally involved in the digital asset space. 

That being said, I endeavor to demystify some of it for you here!

Do me a favour, and post some questions you have about crypto here.... there are NO stupid questions. Anything from what it is, to how it works, from general to specific. from tax/accounting standpoint or just general knowledge. 

I challenge you each to post one question. In response, I will slap together a video or two and we'll get some conversation flowing about this topic. Digital Assets are here to stay and I'd love to help make it a more comfortable topic for everyone. 

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Also, I've got a very casual and easy to understand set of videos available to watch on YouTube for you and your clients regarding investment scams (which often require cryptocurrency to be purchased and transferred to fund the accounts). These scams are sweeping the nation at an unprecedented rate and our only weapon is knowledge. Please share with your colleagues, friends, and loved ones if you think they might benefit from watching. Shameless plug link here.

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Candy Davis, CPA, CGA
Davis Accounting & Tax
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Be careful what you wish for...

An asset purchased with the primary or secondary intention of resale at a profit generates ordinary business income, not capital gains.  What other purposes have you seen for the acquisition of cryptocurrency that would support classifying them as capital assets rather than adventures in the nature of trade or full business inventory?

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Hugh Neilson
Kingston Ross Pasnak LLP
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Original Message:
Sent: 10-09-2025 10:48
From: Candy Davis
Subject: Hello! Is There Anybody out There? Just Nod if You can hear me!

Pink Floyd reference for attention!

We've got 132 members in here and not a peep! I realize that most accountants and tax practitioners steer clear of this topic, and for good reason too. It's complex and ever-changing and, frankly, it's a lot to wrap your head around if you haven't spent years personally involved in the digital asset space. 

That being said, I endeavor to demystify some of it for you here!

Do me a favour, and post some questions you have about crypto here.... there are NO stupid questions. Anything from what it is, to how it works, from general to specific. from tax/accounting standpoint or just general knowledge. 

I challenge you each to post one question. In response, I will slap together a video or two and we'll get some conversation flowing about this topic. Digital Assets are here to stay and I'd love to help make it a more comfortable topic for everyone. 

---------

Also, I've got a very casual and easy to understand set of videos available to watch on YouTube for you and your clients regarding investment scams (which often require cryptocurrency to be purchased and transferred to fund the accounts). These scams are sweeping the nation at an unprecedented rate and our only weapon is knowledge. Please share with your colleagues, friends, and loved ones if you think they might benefit from watching. Shameless plug link here.

------------------------------
Candy Davis, CPA, CGA
Davis Accounting & Tax
------------------------------