Crypto is becoming increasingly popular as an investment option, and with that comes the need to calculate your taxes on your crypto gains. However, calculating your taxes on your crypto investments can be confusing, especially if you are new to the world of cryptocurrencies. In this article, we will guide you on how to calculate your crypto taxes like a […]
Crypto taxation is a complex topic, and it’s crucial to understand the tax implications of your crypto transactions. Unfortunately, many crypto traders and investors make common mistakes that can cost them dearly. In this article, we’ll discuss the 10 most common crypto tax mistakes and provide tips on how to avoid them. 1. Not Reporting Your Crypto Income One of […]
Cryptocurrencies and NFTs are digital assets that have taken the world by storm. They have revolutionized the way we think about transactions, ownership, and the value of digital goods. However, while they may seem similar, they are fundamentally different from one another. In this article, we will explore the key differences between Cryptocurrencies and NFTs and their fundamental concepts. What […]
In this ultimate guide, we will explore everything you need to know about crypto tax deductions, including what they are, how they work, and how you can take advantage of them. As more and more people begin to invest in cryptocurrencies, the topic of crypto tax deductions becomes increasingly important. The Internal Revenue Service (IRS) has issued guidelines for reporting […]
As the popularity of cryptocurrency grows, so does the scrutiny from the Internal Revenue Service (IRS). With cryptocurrency tax laws changing constantly, it can be difficult to navigate the complex tax landscape. This can result in individuals and businesses overpaying on their crypto taxes, which can lead to a significant financial loss. In this article, we will discuss how you […]
Cryptocurrency traders may have heard about the Internal Revenue Service (IRS) sending notices to crypto traders, causing them to worry about being audited or penalized by the IRS. In this article, we will explore the topic in-depth to help you understand these notices, why the IRS is sending them, and what you should do if you receive one. Cryptocurrency Taxes […]
Cryptocurrency is a type of digital asset that has become increasingly popular in recent years. While many people invest in cryptocurrency for its potential to generate high returns, they often forget that it is also subject to taxation. The Internal Revenue Service (IRS) in the United States, for example, considers cryptocurrency to be property, meaning that it is subject to […]
Cryptocurrency has become an incredibly popular asset class in recent years, with its decentralized and anonymous nature being attractive to many users. However, it also comes with certain tax obligations that users must be aware of. In this comprehensive guide, we will walk you through the various types of crypto taxes that you need to know to ensure that you […]
Incorrectly filing your taxes can lead to paying thousands of dollars to the IRS later. The IRS audits one million tax returns each year, and if you’re earning over $100,000 a year or claiming no income, you’re at an increased chance of auditing. Even if you’re not in those groups, you still have a chance of being audited. During the […]
The popularity of cryptocurrencies and the widespread adoption of many crypto assets made 2021 a significant year for cryptocurrencies. This is clear from recent research by Grayscale Investments, which showed that more than half of Bitcoin investors just recently began investing in virtual currency. Investors saw several highs and lows throughout the 2021 cryptocurrency boom, resulting in losses and gains. […]