Cryptocurrency Tax Decrypted

Legal and Advisory

Our legal and advisory practice strives to provide simple answers to the most complex problems.   We advise clients on issues of estate planning and administration, business and corporate law, real estate law,civil and commercial litigation and bankruptcy.



We offer contract and dispute settlement negotiation services.  We draft and negotiate contracts, either as a part of a series of contracts, or as a one-off single engagement.  We assist in settling disputes both formally and informally, often finding solutions that neither party had previously considered.  

Reporting

Contrary to what some would say, reporting your taxable income earned through cryptocurrency transactions is the best defense against unreasonable taxes on that income. 

 

Why? After years of legal battles, the exchanges now report to the IRS.  We expect that they will soon begin tracking your cost basis for you; giving you (and the IRS) the best information to avoid any controversy before it starts. 

 

Even some foreign exchanges now report to the IRS. 

By sending your own crypto tax report with your properly prepared US Federal Income Tax Return, you are placed in the best position to minimize your tax liability on such income. 

Calculating your real taxable gains involves complex calculations and intricate knowledge of the constantly evolving, often confusing laws regulating cryptocurrency taxes.

 

But that’s why we’re here!

 

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