Fort Lauderdale Accountant Can Help You Claim Bitcoin Gains/Losses on Taxes

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scottks1/Flickr creative commons
Bitcoin has become hugely popular because its potential as a new type of currency that operates outside of any government control. Because it can be bought, sold, and traded anonymously online, outside of banking institutions, proponents say it can help make commerce fast and easy and empower people in third-world areas that have trouble getting access to capital. But skeptics say it can be used for money laundering and drug deals.

Observers have been watching to see how the U.S. government ends up dealing with this phenomenon -- which could be a threat to its financial system. Last week, the IRS both legitimized it and diminutized it, declaring that bitcoin would be treated not like another currency (like yen, euros, etc) but like an asset (such as a stock).

On March 25th, the tax overlords released guidelines saying that the IRS will tax bitcoin as property, not as currency.

See also: Five Weirdest Things I Learned at the North American Bitcoin Conference


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South Florida Company Sells Sexy Radiation-Blocking Bras

Categories: Economy

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demronbra.com
It's currently in stock!
Whether you're in a postapocalyptic nuclear disaster or standing a little too close to the microwave, this radiation-blocking bra will provide lift and shape. It can also simultaneously protect boobs from harmful radiation, heat, and even biological and chemical threats. When was the last time you saw anything from Victoria's Secret do that?

See also: Victoria's Secret Employee Foils Underwear Robbery, but Thieves Get Away With $11K in Merch

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Broward College Adjunct Professors Make Maximum $16,000 a Year; They Are Now Unionizing, May Strike

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Armstrong

Broward College administration must be brought to account for paying starvation wages to its faculty.

I have taught American government and American history, primarily at Broward College, as an adjunct professor since 2004. Due to unannounced circumstances this semester, and as has been done many times to me in the past, my income was cut in half this term due to arbitrary scheduling of professors at the various campuses. Having been assigned a half load means I earn roughly $200 per week, as opposed to the normal $400 per week I make when I teach a full load. Either way, this is a travesty.

Even when teaching the maximum load of four classes per term, an adjunct can at most make $16,000 per year teaching both the fall and spring terms (the normal full year for full-time professors). This is half of the median income in Broward County.

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GEO Group Earns Over $600,000 a Year From Prisoners' Phone Calls

Categories: Economy

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miss_millions via Flickr Creative Commons
At least they don't have to deal with Comcast?
GEO Group (formerly Wackenhut Corrections) is the second-largest private prison company in the country.

Guess where it gets a nice chunk of revenue? By taking kickbacks from the companies that put phone lines into its prisons. According to a letter it sent to the SEC, GEO Group received $608,108 in prison phone commissions in 2012. (Though the company pointed out that's less than one percent of its $2.8 billion in assets, $1.339 million in income and $1.5 billion in revenues.)

A GEO Group shareholder -- a very interesting one -- attempted to bring this to the attention of fellow shareholders. He hoped that, since it creates an unnecessary cost to inmates' families (many of them poor), and since it was really a small sliver of GEO's revenue, the shareholders could vote on a resolution to nix this revenue stream. But this week, the GEO Group put the smackdown on that attempt.


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Florida Yacht Broker: Why Bitcoin Is Better Than Credit Cards

Categories: Economy

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yachtfan/ Flickr creative commons
"I'm on a boat!" The last time you yelled that out was probably in your dreams.

It's true that booking a yacht for a charter cruise can take some serious cash -- or bitcoin, the virtual currency that's making waves in finance.

The Advantaged Yacht Charters and Sales in Miami Beach booked its first boat charter last Sunday in bitcoin.

Last weekend, co-owner Jessica Londono attended the North American Bitcoin Conference in Miami, where the deal was sparked. "At the conference, the owner of BitPay, Tony Gallippi, made a shoutout that there were local businesses accepting bitcoin during his talk," she says.

See also: Five Weirdest Things I Learned at the North American Bitcoin Conference

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"Professor of Cannabis" Is Ready to Teach Medical Marijuana Entrepreneurs in Florida

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Medical Marijuana Tampa
Jeremy Bufford of Medical Marijuana Tampa
On Tuesday, I wondered aloud who was ready to make some money if medical marijuana becomes legal in Florida after November's vote. There was only one corporation with "marijuana" in its name listed in the state so far.

Since, then I heard from a few others who said they're waiting to see what happens with the vote or that they are purposely registering under names that don't have "marijuana" in the title because in other states that have legalized weed, it's been hard for pot businesses to get bank accounts. (While "drowning in cash" sounds like a great problem to have, there are crazy security concerns.) Don't worry, though -- pot entrepreneurs are out there salivating.

One man, Jeremy Bufford, proprietor of Medical Marijuana Tampa, has already pounced. He is preparing to open a chain of 15 dispensaries with a quality-control lab and next week will launch his school for medical marijuana workers and entrepreneurs. He has already hired five people and expects to hire 350 more, plus trigger a mini-real estate boom assuming the initiative passes and he signs leases on the properties he's already scoped out. His website is already advertising for 15 positions from "lead botanist" to "delivery driver" to "executive chef" to "professor of cannabis."

I spoke to Bufford at length about his preparations and predictions for the medical marijuana industry in Florida:

See also: Florida Supreme Court Approves Medical Marijuana Initiative

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Medical Marijuana: Who Will Profit? So Far, Only One "Marijuana" Corporation Is Listed in Florida

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Yesterday, the Supreme Court OK'd the language in a proposed ballot initiative, so Florida voters this November will get to vote on whether or not to legalize medical marijuana.

Surely, stoners compassionate medical professionals are going are going to come out in full force to vote this thing through and see that weed is enshrined in the state constitution. (I can't believe this is happening in my lifetime! Black president and weed in the constitution!)

So, next question: Who will profit?

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Five Weirdest Things I Learned at the North American Bitcoin Conference

Categories: Economy

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I was officially inducted into 'Bitcoin Land' yesterday, and I'm not sure where the exit is. That's OK though, I might have to hang out in this mysterious vortex for awhile. The folks are a friendly bunch. Heck, one guy set me up with a virtual wallet and gifted me seven bucks worth of the digital goodness. "Welcome to Bitcoin Land," he said.

For those unfamiliar with Bitcoin, a digital currency that some businesses are starting to accept in lieu of U.S. dollars, check out our story from last week which explains the phenomenon.

This past weekend, in the Magic City, 1,200 bitcoin enthusiasts and skeptics flocked to the Miami Beach Convention Center for the two-day North American Bitcoin Conference. The event organizers anticipated only 500. The attendees came in from Europe, Asia, Latin America and the United States.

See also: Bitcoin in South Florida: From Shady Cash Deals to Bitcoin Accounting Firms; Conference This Weekend

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Bitcoin in South Florida: From Shady Cash Deals to Bitcoin Accounting Firms; Conference This Weekend

Categories: Economy

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scottks1/ Flickr creative commons

Last week, I was having a cappuccino at Brew Urban Café in Fort Lauderdale's Victoria Park when an acquaintance I knew only as Brian, who is about 40 and was wearing a bright-orange jersey, said hello. His tattooed friend plopped down at the table across from us. The friend opened his laptop and lit a cigarette. I noticed the two guys didn't have any coffee.

They were there to buy Bitcoin.

"It's cryptocurrency," Brian began to explain but was interrupted when their guest strode up -- a slick, 20-something guy wearing jeans, white flip-flops, and a black tank top exposing his buff arms. Let's call him Neo.

I could overhear as the three gentlemen began to talk business. They each slowly shared snippets of personal information, but not enough to reveal their identities. It was like a game of cat-and-mouse as they bantered back and forth.

"What do you do?" Neo asked Brian.

"I was in the dot-com industry and got out in time. "

Neo said he was selling Bitcoins for $700-plus per coin, plus an 8 percent commission fee. Brian shook Neo's hand and passed him a folded stack of $800 in cash. (U.S. dollars, that is. There are no tangible bitcoins.) Neo fiddled with his smartphone, and the tattooed dude, eyeing his laptop, said the transfer had begun.

See also: Five Weirdest Things I Learned at the North American Bitcoin Conference

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Florida Residents to Lose Unemployment Benefits Saturday

Categories: Economy, News

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Thanks to Congress' not adding an extension to emergency unemployment benefits into the budget deal that's going to pass the Senate this week, roughly 73,000 Floridians will lose those benefits come Saturday.

This is in addition to the 1.3 million in other states who will get ganked when the federal emergency unemployment benefits expire December 28. If things aren't reversed, 3.6 million more will lose theirs in 2014.

The average Floridian's benefit is about $230 per week, according to the Miami Herald.

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