The State of Cryptocurrency Taxes

Cryptocurrency taxes are a new frontier for income taxes in the United States. The laws and opinions are new and so is the accounting technology. Search engines are great starting points and there have been a number of free articles published that provide general or intimidating information on the topic. You are here because you know what the above logos are, you have cryptocurrency and you are looking for tax help with it. Engaging a tax professional is turning research into action.
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In the world of accounting and tax, most tax practices are just now getting used to working remotely and using Zoom. Cryptocurrency makes remote meetings look like text messaging and trying to work with someone that doesn't understand the systems can be frustrating. Luckily, you don't need to explain RPC's, minting, collateral, rugs and yield farming here. I have enough literacy in the concepts discussed in your standard crypto telegram and discord channels.

General Questions

Do I need to File taxes on Cryptocurrency?

Yes. Though what kind of taxes depends on how you received that income. Staking, yield farming, trading and airdrops are all different circumstances

Can I reduce my taxes on cryptocurrency?

Maybe, and most likely. If you use a baseline of "do nothing" currently there are ways to be more efficient with your taxes by operating within a business or investment. Think of it similarly to operating a business with poor accounting versus a planned and well though out operation. The tax alternatives are also dependent on your other non crypto sources of income.

I got a cryptocurrency letter from the IRS

Don't panic, but pay attention to the deadlines on your letter. The only real, sure fire way to dig a deeper hole after receiving correspondence from the IRS or a state tax agency is to miss the respond by deadlines. You can also usually ask for more time to respond, as long as its before the deadline. This is also where I can help clients the most. Do it yourself taxes are fine, but do it yourself audits or correspondence are easy to make mistakes with.

Process Questions

How much does this cost?

$498/hr USD. Taxes usually work out to between $700 and $3000 total.

How Do I work with you?

I correspond with clients through email, zoom, phone and telegram. Documents are scanned and uploaded in a secure manner where possible and sometimes are mailed. Getting in touch via the contact page is the best place to start.

Can I PAY WITH CRYPTO

Yes. You can pay with "normal" coins easily like BTC, LTC or ETH. Stablecoin payments or token payments on Fantom, Polygon and BSC work as well. I don't usually accept token payments on ETH chain as the gas is outrageous. If we don't agree to something in advance I will send a LTC invoice. That's right. Litecoin.