The cost for calculating crypto gains varies, as it depends on individual circumstances. We offer competitive rates in the industry, but exact pricing requires an initial evaluation. Factors influencing complexity and cost include the number of exchanges and blockchain wallets used, the volume of transactions, and involvement in advanced Defi activities like liquidity pools, yield farming, and borrowing/lending. Additionally, calculating gains for multiple tax years will affect the price. For an accurate estimate, we encourage you to arrange a complimentary consultation. 

Absolutely! Business tax requirements, especially in the realm of digital assets and cryptocurrency, can significantly differ from individual tax requirements. Our team is well-versed in the unique challenges and compliance needs of businesses in the crypto space. We invite you to reach out to us for a tailored consultation, where we can discuss your specific business needs and how we can assist you in achieving full crypto tax compliance.

Certainly! Managing digital assets extends beyond just tax compliance; it also involves meticulous bookkeeping and accurate financial reporting. Our team has the expertise to handle these aspects, ensuring your business's financial processes are well-organized and transparent. We recommend scheduling a consultation with us to discuss your specific requirements in detail. This way, we can provide a customized solution that aligns perfectly with your business's digital asset management and reporting needs.

Leveraging our auditing and forensic accounting expertise, we meticulously analyze and rectify data discrepancies to ensure accurate reporting.

We do not just calculate; we defend. Our team stands with you, offering robust advocacy and defense against IRS inquiries.

Navigating past tax returns with unreported or incorrectly reported crypto gains? Let us take the lead. Our initial approach includes a detailed review of your IRS account transcripts and a comprehensive risk analysis. We will provide expert guidance on the best course of action, which may not always involve amending your returns due to potential audit risks.

Dealing with complex crypto investments like staking, liquidity pools, or yield farming can be daunting. While the basic principles of capital gains apply, accurately calculating your taxable gains requires expertise. If you're facing intricate scenarios and need expert advice, we are here to help. Our team is skilled in navigating the nuances of these complex crypto investments.

If your accountant is less familiar with the intricacies of crypto tax reporting, don't worry, we've got you covered. Our recommendation is to prepare your crypto gain calculations independently and provide them to your accountant. We understand that the complexity of crypto gains can be overwhelming for many professionals. If you require assistance from dedicated crypto tax experts, our team at CryptoTaxAudit is ready to assist. 

While we offer full service tax return preparation, we understand that there are several reasons why you may want to stay with your current accountant. Our crypto gain calculation service is a standalone service and if you choose to stay with your current accountant, we can provide them with all the necessary tax forms.

Our standard services are centered around calculating your crypto taxable income and do not include tax planning. If you are interested in a tax strategy to minimize your tax on your crypto assets, please schedule a consultation to discuss.

With your permission and introduction, we would be happy to work with your accountant or financial advisor in your tax planning.

Experiencing inconsistencies with your current crypto gain calculation service? Various factors, like incomplete transaction records or misclassified data, can lead to inaccurate results. Complex histories involving DeFi, NFTs, or private wallets add another layer of difficulty. If you are struggling with these challenges, our IRS Guard Dog membership plans offer a safeguard, preparing you for even the most intricate scenarios.

Absolutely! Our dedicated team excels in handling complex cases involving NFTs, DeFi, and other intricate crypto investments. Trust in our expertise, honed by serving many top investors in these fields. Our aim is not just accuracy, but also defensibility – ensuring your results can withstand the scrutiny of an IRS audit.

Many professionals will tell you that this election is not available for crypto traders or crypto investors due to the fact that crypto assets are property, not securities or commodities. However, with on-going regulatory changes and SEC actions, this is not a black or white scenario. If you believe that you qualify as a trader, please schedule a consultation to discuss your situation.

This is an unexpected surprise that many crypto investors encounter as cashing out is not what drives taxable income. There are many taxable events that need to be accounted for, such as trading crypto for another crypto (or for stablecoins), buying an NFT with crypto or receiving crypto income such as staking or airdrops.

While it is true that a net capital loss is limited in deductibility to $3,000 for any given tax year, any loss over this amount will get carried forward to future tax years. This is why it is critical to calculate the right amount of losses, as any excess capital losses will offset future capital gains. If you have, for example, $100,000 of losses to carry over from this year, this basically means that the next $100,000 of gains will be tax free (as we will apply the losses against those gains). If you underreport this amount, you are missing out on the tax benefits of your losses and will volunteer more tax than due.

The IRS regulations will not go into effect until 2025 at the earliest. This means that every taxpayer will have to calculate crypto gains and taxable income the same way for tax years 2023 and 2024. Furthermore, reporting of tax basis will not be mandatory until 2026 at the earliest. So even in 2025 it will be up to the taxpayers to correctly report their tax basis (cost). Even once the regulations are in full effect, DeFi and high transaction volumes are expected to leave many gaps in the data. For more information on the regulations, refer to our full breakdown.