93 - Taxes and NFTs — The Important Questions with Attorney Jacob Martin

In this episode of The Unstoppable Podcast, we’re talking to Jacob Martin. He’s an “NFT attorney” — an attorney in Southern California with an interest in crypto and blockchain.

Jacob tells us about how taxes work with NFTs from a legal perspective, and how long-term capital gains work with NFTs. He also shares the best way for people to keep track of their NFTs and other blockchain transactions — are there tools for this?

We talk about how gas fees play into the tax issue, and Jacob explains the legal definition of securities and collectibles (and which one best describes NFTs).

Jacob shares his thoughts on the best things regulators could do for NFTs, and what would happen to the NFT community in the event of a big SEC lawsuit. We also talk about the legal implications of forming a DAO without making it an LLC or legal entity.

Finally, Jacob talks a little about some of his other projects, like Ready Player DAO, and his own tax-based NFT project coming soon.

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You can follow our guest, Jacob Martin, on Twitter.

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