Over the past year we have noticed a lot of good cryptocurrency tax questions are being asked on Facebook, slack groups and various reddit pages. And, not surprisingly, a lot of bad answers are being provided to the questions.
With more and more people buying/selling bitcoin and other cryptos, there is a growing demand for accountants that have expertise in reporting these transactions for tax purposes. Although many are attracted to crypto to distance themselves from the government, it is important report gains/losses accurately to the IRS to avoid any costly late fees/interest/audits down the road. Given our knowledge and passion for the space, here at CryptoCPAs, we have decided to dedicate our time to cryptocurrency tax analysis and reporting helping both U.S. citizens and non-U.S. citizens.
Odds are your current accountant has heard of bitcoin in passing but is not comfortable working with clients that make a high number of trades. Here at CryptoCPAs not only are we CPAs but we are also active crypto investors familiar with the various tokens, exchanges, resources, etc. We’re passionate about the space and are not afraid to dive deeper. We are learning and growing with the technology that crypto is bringing us.
Going forward, we will use this blog to discuss various crypto related tax issues. To talk to one of our CPAs about your specific situation, please reach out to us at firstname.lastname@example.org.
Andrew and Charlie