Accounting & Tax for Cryptocurrency Investors

Specialist cryptocurrency accounting and tax services tailored to help you accurately manage and report your gains, losses, and activities. 

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Specialist crypto accounting & tax services

Investing in cryptocurrency presents unique opportunities and challenges, especially when navigating the complex and ever-changing multi-jurisdictional tax laws.

As crypto accounting and tax specialists, Kelly+Partners Accountants has a dedicated team of crypto experts who stay abreast of the latest changes and developments in tax laws and guidelines around reporting and managing cryptocurrency and digital asset activity.

Whether you need help with accurately filing taxes and optimizing crypto returns with the IRS, or require assistance with forensic analysis and navigating the complexities of blockchain technology and digital assets, Kelly+Partners Accountants can guide you through every step of your cryptocurrency journey.

Gain/Loss Calculations

Every cryptocurrency transaction with gains or losses is taxable, making precise tracking crucial for correct calculations. With possibly hundreds to thousands of trades yearly, accounting can get complex. Regardless of your crypto activity level, we're here to simplify your transaction history, calculate your net gains or losses, and ensure you're tax-ready.

Tax Reporting

The unclear regulations and legal debates around digital currencies leave many uncertain about crypto tax requirements. Not reporting capital gains, even by mistake, counts as tax fraud and can be costly. Our team is here to clarify your investment status, ensure accurate record-keeping, assist with necessary paperwork, and help you stay compliant with IRS tax obligations.

DeFi Tax Calculations (On-Chain Activity)

As the DeFi sector expands, understanding its tax implications becomes increasingly critical. DeFi transactions, often involving diverse assets, can complicate tax calculations. We excel in navigating DeFi tax complexities and help guide you through your DeFi investment's tax requirements to ensure compliance. 

Transfer Analysis for Tokens Transferred Between Exchanges and Wallets

Tracking the date and cost of acquisition for tokens when transferred between wallets/exchanges is a challenging aspect of crypto taxes. Our detailed approach accurately tracks each transfer to ensure the correct purchase price is carried forward. Many software alternatives omit this step, resulting in missing cost basis/proceed amounts on their reports.

NFT Tax Calculations

NFTs are the latest trend in assets, yet many overlook that they're taxable just like any other property. Selling an NFT at a profit triggers capital gains tax, varying by your tax bracket.

Initial Coin Offering (ICO) Support

Despite the influx of investment into the sector, raising capital via an ICO presents unique challenges due to its lack of regulation compared to traditional IPOs. Our financial experts can navigate you through budgeting, financial security structuring, and tax optimization to enhance your ICO's success potential.

Tax Calculation for Crypto Derivatives

Crypto derivatives tax calculation is complex, particularly for newcomers. Understanding the tax rules for these trades is vital, as tax authorities view them as financial contracts with gains or losses considered capital gains or losses. Tax rates also vary based on your trading horizon. We help ensure your transactions are accurately and compliantly reported, helping you navigate the crypto derivatives market effectively while optimizing your tax situation.

Cryptocurrency for Businesses

Cryptocurrency is becoming vital for businesses, with an increasing number adopting it for transactions. Ensuring effective management and tracking of these transactions is essential. We specialize in creating efficient cryptocurrency bookkeeping solutions to minimize costs and navigate regulatory changes.

Transaction Tracing

Cryptocurrency investors sometimes struggle to locate their assets after misplacement, particularly if the assets were moved to different wallets or exchanges. Transaction tracing, through blockchain analysis, can potentially identify the coins' original owner and their current location. While this method demands significant expertise and time, it often represents the sole avenue for reclaiming lost investments. 

Capital Gain or Loss Summary Report (Form 8949)

A detailed capital gain or loss report outlines each transaction's purchase and sale dates and amounts, helping calculate total profits or losses. This offers investors insight into their performance. For a trading overview or deeper market trend analysis, our services equip you with essential tax preparation tools in the current financial environment.

Other Cryptocurrency Tax Calculations

Tax calculations for income derived from mining, nodes, and validators.

Get Started

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Tax Guide - How to manage your Crypto activity this tax season

Whether you're new to the world of Cryptocurrency or a seasoned investor, this guide is your go-to resource for all things Crypto tax.


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