Hi everyone! Welcome to the very first episode of Suttle Subjects. My name is Ryan Mink. I’m a CPA and a Senior Manager with Suttle & Stalnaker.
I want to preface this episode by reminding everyone that regulation is still forming for the cryptocurrency and digital asset space, so the information I provide may only be relevant at this time. Additionally, the content is my interpretation and opinion and does not necessarily represent Suttle & Stalnaker’s views. Finally, as always, you should confirm with your tax preparer before utilizing any guidance I may provide, and nothing I say should be construed as financial or tax advice. So let’s jump in.
A while back, I had a client walk into my office to discuss filing taxes related to their cryptocurrency activity. They told me they were “mining Ethereum” and making about $1,400 per day (more than $500,000 per year). I quickly told them they needed to file taxes and to please tell me more about this “mining” activity they were doing. My interest was piqued. I had heard of Ethereum but wasn’t sure what Ethereum or the crypto space was and what was mining? We had a great conversation, still have regular conversations, and the rest is history.
As any great professional would do, I dove into research. Then, I decided to start dabbling in crypto to understand the nuances of the space, the terminology, and the technology behind my new client’s business. What began with $50 on Coinbase has turned into a deep passion. My wife would say I’m a little obsessed. I spend quite a lot of time reading articles, listening to podcasts, and meeting with other individuals within the crypto space. I have two Bitcoin miners running in my basement. I own several NFTs, have several centralized exchange accounts, and probably 20 decentralized wallets on several blockchains to help me manage my activity.
With all of this activity and involvement, I have found a need within the community for educational content related to cryptocurrency, blockchain, and other digital assets. In my opinion, this technology will change how our financial lives operate. Therefore, I created this VLOG to educate the firm’s clients, friends, family, and others. I also want to provide a resource for people to ask questions about the technology or transactions they are participating in.
Next time we will talk at a high level about how crypto is taxed, but I hope to hear from you before then. With that said, please reach out to me a let me know what questions you have regarding cryptocurrency, blockchain, or other digital assets. I have some key topics on my list, but I want to ensure I bring the most value to our users. Feel free to email me at firstname.lastname@example.org or call me at 304-554-3371.
I’m Ryan Mink, CPA with Suttle & Stalnaker, and I look forward to seeing you on the next episode of Suttle Subjects.