Can I Pay My Employees In Bitcoin?
If you are interested in paying your employees in bitcoin, it is important to be aware of your state’s regulatory and legal requirements. Employment attorney Bryan Jacoutot discusses the tax, wage, and salary compliance issues you could face by paying employees in bitcoin in his article, “Can I Pay My Employees In Bitcoin?” Mr. Jacoutot covers several topics including:
- The IRS provided guidance on paying employees in bitcoin with regards to state taxes;
- Ensuring that you remain compliant with the Department of Labor’s wage and overtime requirements; and
- The unpredictability of bitcoin could affect how your pay employees who are salary based.
Additionally, Mr. Jacoutot offers potential solutions for remaining legally compliant.