How much power did you use mining – Tax purposes

Power costs money Power, the biggest expense of mining, is tax deductible. The issue, though, is how do you prove how much power you actually used for mining versus day-to-day living? Well, the answer is a separate power meter. Your CPA would know best for your situation, but mine had said that, distinctly, a separate […]

Taxes and BTC

The IRS released a letter stating how they will handle Crypto Currency. This isn’t really a bad thing at the end of the day. The reality is if the IRS is recognizing Crypto Currency as a tender, it won’t be long until others do as well.  So what does all of this mean? Let me […]

What did you pay for your equipment?

What did you pay for your equipment? This is a critical piece. I have been 3D printing for profit for a little over 2 years now and I will tell you that all of your equipment can be depreciated as office equipment. So lets look specifically at the depreciation schedule for various business-related equipment: Which […]

Where do you mine?

Where do you mine? Lets take a deep dive into taxes and crypto. The first thing to think about is where do you mine? Which takes us to this point. This was taken directly from the IRS website: If you use part of your home for business, you may be able to deduct expenses for […]

Tired of building projects by yourself?

Tired of building projects in your basement or garage by yourself? Open Hack Space is a great way to exchange ideas for projects online but are you involved locally? Hacker Spaces have been popping across the United States and all over world. Take an opportunity meet up with others in your area. You don’t need […]

A young blacksmith indeed.

young hacker

[singlepic id=79 w=640 h=480 float=center]   I was a little over ten years old when I started blacksmithing with my father. Over the years I eventually became a machinist. Early on my father had a talent for making knives. They were quite popular in the southern Wisconsin area in the late 80’s and early 90’s. […]

Open Hack Space

My intent for Open Hack Space is to connect the Hobbyist Fabricator who may now be dabbling with 3D printing, machining and electronics design with those who do it professionally. I have seen the trial and error approach of those who have little fabrication background and yet have strong electronics backgrounds. Often times evident in […]