Cryptocurrency

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. 

NFTs

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.

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.

Gain/Loss Calculations

Every crypto 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.

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.

Decentralized Finance (DeFi)

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. 

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.