BITCOIN
Bitcoin is a peer-to-peer electronic cash system. It is intended as a means of payment. Bitcoin is called a cryptocurrency because it is encrypted. Bitcoin relies on two encryption keys. One public and one privately created. Bitcoin relies upon Blockchain technology to function. The Blockchain is the record keeping system (or ledger of transactions) that Bitcoin, and many other virtual currencies for that matter, rely upon to function. Bitcoins are registered to address keys. The Blockchain records Bitcoin transactions and the history of the Bitcoin ownership. Bitcoin is a decentralized currency. There is no government or authority that administers Bitcoin. Bitcoin was created as an open source software. The decentralized Blockchain consists of numerous independent computers that store copies of the ledger across the globe. Is Bitcoin subject to taxes? In the USA, yes. If you receive Bitcoin for services, it may be includable in income and you are required to report it on your IRS Form 1040. If you sell appreciated Bitcoin, you may owe capital gains taxes. #bitcoin #ethereum #altcoin #litecoin
Bitcoin IRS Disclosure
Are you worried about the IRS discovering your Bitstamp or Coinbase account? There's reason to worry as the IRS is aggressively pursing John Doe Subpoenas against crypto wallets. A federal court has recently yordered disclosure of all accounts above $10,000. Now is the time to get into compliance with the IRS before you receive an audit letter. You should not represent yourself. Your counsel should pursue a strategy of minimizing penalties and interest. Failing to report income from bitcoin, litecoin, ethereum, bitcoin cash, and altcoin transactions constiteus a crime. The IRS is secretly pursuing people who have failed to report cryptocurrency transactions on their income tax returns. If you are a US citizen or resident, you must report income from all sources within and outside of the U.S. This is true whether you received a W-2 or 1099.
NUA
Do you own company stock in your 401k? Would you like to cut your taxes in half when you retire? NUA Net Unrealized Appreciation is the answer. Many financial advisers are aware of it, but can't advise on the tax consequences. Most tax preparers have never heard of it because the IRS has published very little in the way of information regarding it. It took numerous hours researching the Internal Revenue Code and Treasury Regulations related to retirement plans to understand the transaction. How it works is quite simple: you make a lump-sum distribution of your 401k. This is a rollover. In that process, you distribute your company stock (or employer stock such as HEICO, FPL, NextEra Energy, Chevron, to name a few) to a brokerage account. You will owe tax on the basis of the stock. This is what you purchased it for many years ago in your ESOP or LESOP retirement account. The appreciation of the stock all those years will be subject to long term capital gains. You would want to take advantage of this if your stock has gone up in value since you acquired it. Furthermore, if you did not do this transaction, you would pay ordinary income rates as high as 39.6%. So what would you rather pay in taxes, 0%, 15%, or 20%, in capital gains tax rates, or 39.6%?Do you have charitable intentions? You should let us show you how to maximize your charitable giving. Consider giving appreciated stock directly to a charitable account versus selling it, paying taxes on the stock, and then claiming a miscellaneous deduction. Finally, learn how to make tax efficient decisions and reduce your tax liability legally. Contact us for a complimentary 15-minute consultation by telephone. #nua
Practice areas
Defense of IRS income tax audits and Florida DOR sales tax audits. Advise clients on charitable giving, retirement tax planning, capital gains, capital losses, S-Corporation, C-Corporation, Partnership, LLC selection, formation, and tax efficient operation. Advise clients on international taxation issues such as non-US-resident, non-US-domiciliary real estate investment in USA. Advise US client on foreign direct investment outside US.
17 years, 120 cases
Languages spoken
English, Spanish, French
State | Status | Acquired | Updated |
---|---|---|---|
NY | Currently registered | 2018 | 12/09/2020 |
DC | Active | 2011 | 10/14/2017 |
FL | Member in Good Standing | 2003 | 12/20/2020 |
Award name | Grantor | Date granted |
---|---|---|
AV Preeminent Peer Review Rated Highest Lvl of Prof. Excellence | Martindale-Hubbell | 2017 |
AV Preeminent 5.0 out of 5 Peer Review Rated | Martindale-Hubbell | 2017 |
High Ethical Standing | Martindale-Hubbell | 2017 |
Client Champion Platinum Award | Martindale-Hubbell | 2017 |
Top Attorney 10.0 | Avvo | 2014 |
Top Contributor | Avvo | 2014 |
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Achieved "10+" five-star reviews | Avvo | 2014 |
Cum Laude | University of Florida Levin College of Law | 2003 |
Title | Company name | Duration |
---|---|---|
Tax Attorney | Charles J. Zimmerer PA | 2007 - Present |
Prosecuting Attorney | Broward County State Attorney's Office | 2003 - 2007 |
Association name | Position name | Duration |
---|---|---|
Brevard Hispanic Center | Board Member | 2014 - Present |
Florida Bar, Tax Section | Member | 2014 - Present |
Florida Bar, Real Property and Probate Law Section | Member | 2014 - Present |
American Association of Attorney-Certified Public Accountants | Board Member | 2013 - Present |
Florida Board of Accountancy, Division of CPAs | Certified Public Accountant | 2007 - Present |
Campaign to Re-Elect County Court Judge John "Jay" Hurley | Campaign Treasurer | 2016 - 2016 |
---|---|---|
Campaign to Elect Kim Theresa Mollica | Campaign Treasurer | 2016 - 2017 |
Campaign to Elect Keith S. London | Campaign Treasurer | 2014 - 2014 |
Ari Abraham Porth Campaign for Circuit Court Judge 17th Judicial Circuit | Campaign Treasurer | 2012 - 2012 |
Campaign to Elect Dan Daley for Coral Springs City Commission | Campaign Treasurer | 2012 - 2014 |
Ari Abraham Porth Campaign State Representative District 96 | Campaign Treasurer | 2007 - 2007 |
Publication name | Title | Date |
---|---|---|
American Journal of Trial Advocacy | Exhaustion of Administrative Remedies in Immigration Cases: Finding Jurisdiction to Review unexhausted claims the board of immigration appeals considers sua sponte on the merits (editor) | 2010 |
Cardozo Journal of International and Comparative Law (Credited as Editor) | Immigration Law: Nowhere to turn--illegal aliens cannot use the freedom of information act as a discovery tool to fight unfair removal proceedings (Credited as editor) | 2008 |
School name | Degree | Graduated |
---|---|---|
University of Florida, Fredric G. Levin College of Law | JD - Juris Doctor | 2003 |
Florida Atlantic University | BS - Bachelor of Science | 2000 |
Conference name | Title | Date |
---|---|---|
AAA-CPA Networking Luncheon at the University of Miami School of Law | The Lawyer CPA Rolled Into One - Lunch and Learn Panel Discussion | 2015 |
University of Miami Lunch and Learn | Miami Law Student Fall Luncheon (Learning About Sole Law Tax Practice) | 2015 |
Case name | Outcome |
---|---|
NUA Net Unrealized Appreciation | Saved 50% in tax |
Preparer / Promoter Representation IRC 6701 | Favorable to Client |
Representing Tax Preparer I.R.C. 6694 | Favorable to Client |
In Re Offshore Disclosure | Compliance |
In Re Unfiled Tax Returns | Taxpayer in Compliance |
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Wed Nov 26 2014
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Wed Oct 01 2014
I endorse this lawyer as their impressive legal analysis and thoughtful responses display the thorough approach necessary to achieve results for clients
Alvaro Acevedo, Tax Attorney on Oct 9, 2017
Relationship: Worked together on matter
I endorse this lawyer. Charles is an outstanding professional. Highly skilled, trustworthy and respected in the community, we have worked together with excellent results.
John Walker, Tax Attorney on Apr 24, 2016
Relationship: Worked together on matter
Charles is not only a highly skilled tax lawyer for taxpayers with international tax concerns, he also has a great feel for business generally. Charles and I have collaborated on several complex matters. Besides bring his tax expertise, Charles contributed a number of highly practical and very useful approaches to nontax business matters. I strongly endorse this lawyer.
Ramon Blanco-Herrera, Tax Attorney on Nov 18, 2015
Relationship: Fellow lawyer in community
I endorse this lawyer. Charles is an exceptional attorney. If you need a tax attorney, this is the person to hire. He is extremely knowledgeable and professional. I would hire him without hesitation.
Mary Gurganus, Tax Attorney on Jul 2, 2015
Relationship: Worked together on matter
I endorse this lawyer. Charles is both a CPA and attorney, giving him detailed knowledge to help his clients in business, personal, and international matters.
Jonathan Lacour, Tax Attorney on Apr 28, 2015
Relationship: Fellow lawyer in community
Keen attention to detail with exceptional client service. I endorse this lawyer.
Laura Hoskins, Tax Attorney on Apr 16, 2015
Relationship: Other
Charles has outstanding client reviews that evidence his commitment to his clients. I endorse this lawyer.
A highly skilled and respected lawyer in the legal community.I endorse this lawyer.
Vonnie Dones, Tax Attorney on Feb 16, 2015
Relationship: Fellow lawyer in community
I wholeheartedly endorse this lawyer. A top-notch attorney, highly respected in the legal community.
Brian Leifert, Tax Attorney on Feb 13, 2015
Relationship: Fellow lawyer in community
Highly intelligent and extremely personable. Charles is a great attorney!
Top-notch attorney. Highly respected in the legal community.
Sean Cleary, Tax Attorney on Dec 25, 2014
Relationship: Fellow lawyer in community
I wholeheartedly endorse this lawyer. A brilliant, trustworthy and highly respected attorney in the legal community.
Michael Weinstein, Litigation Attorney on Oct 2, 2014
Relationship: Opposing Counsel on matter
I endorse this lawyer.
I endorse this lawyer.
Horacio Sosa, Tax Attorney on Jul 31, 2014
Relationship: Fellow lawyer in community
I endorse this lawyer. Charles is very passionate about helping clients comply with tax laws, especially international tax issues. Highly recommended!