SOURCE: Garza & Harris, Ltd.

Dallas Tax Attorney Joe Garza

September 01, 2017 08:30 ET

Garza & Harris Announces New Service: Initial Coin Offerings (ICOs)

DALLAS,TX--(Marketwired - September 01, 2017) - financial law firm Garza & Harris, Ltd has added a compelling new service to their wide array of expertise, Initial Coin Offerings (ICOs).

An Initial Coin Offering (ICO) is an unregulated way to raise funds for a cryptocurrency venture. ICOs are great for startups who want to raise money, but bypass the ultra-regulated processing that's required by banks. ICOs can be compared to IPOs and crowdfunding. Like IPOs, a stake of the startup or company is sold to raise money for the entity's operations during an ICO operation. However, while IPOs deal with investors, ICOs deal with supporters that want to invest in a new project much like a Kickstarter campaign. But ICOs differ from crowdfunding in that the backers of the former are motivated by a prospective return in their investments, while the funds raised in the ICO campaign are considered donations.

According to Joe Garza, "The way to make money through an ICO is by selling percentage of the cryptocurrency to early backers in exchange for legal tender or even other cryptocurrencies, like Bitcoin. It's similar to getting investor money to finance your business."

Garza & Harris has always voiced their belief in business big and small, and their swift move into the ICO game proves once again that these Dallas attorneys back up their words with action. The firm also specializes in asset protection planning, estate planning, income tax planning, various forms of consulting and more.

Joe B. Garza has practiced as as tax and transactional attorney for over three decades. His major areas of practice include merger and acquisition negotiation and implementation, tax exempt financing, business organization and succession planning, income tax and estate planning, asset protection, securities transactions, and retirement plan consultation.

Mr. Garza has structured, negotiated, and closed more than $300 million of debt transactions and over $1 billion of tax exempt bond transactions as Bond Counsel for the state of Texas. His tax advisory work is a fundamental component of his practice, serving over 2,000 clients nationally and internationally.

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