FIFO and LIFO costing methods explained. When calculating your capital gains and losses for your cryptocurrency transactions, you need to use a consistent costing method. The most conservative and universally accepted method in the world of cryptocurrency taxes is first-in-first-out (FIFO).
Cryptocurrency received from mining is treated in two ways for tax purposes.This article breaks down each of these two taxable events and explains the implications of reporting your crypto and bitcoin mining transactions on your taxes.
This article breaks down taxable events and explains when you do or do not owe capital gains tax on your cryptocurrency transactions.
This article breaks down why Coinbase taxes are so problematic and often times completely inaccurate for users
This article walks through six strategies that can be used to decrease your crypto tax liability
A list of the most common mistakes that we see made when doing crypto taxes
This guide walks through the fundamentals of paying taxes on Bitcoin and other cryptocurrencies
I used CryptoTrader.Tax this year to automate the whole process. In this article, I am going to detail exactly how I filed my crypto taxes using the platform.
Does the Report of Foreign Bank and Financial Accounts (FBAR) apply to Cryptocurrency? This is a popular question within the crypto tax community to which no one has a definite answer.
This article addresses the current state of cryptocurrency tax laws and outlines the most important elements that you need to be aware of as a market participant.
What do you do with your 1099-K that you received from Coinbase? This article addresses how to handle the necessary tax forms you need for your crypto taxes
This article discusses how to handle your losses and the important things that you need to keep in mind for your crypto taxes.
Crypto taxes are the ultimate Wild West right now. Here are six things that you should be aware of before forking over thousands of dollars to a CPA for your crypto taxes.
A lot of crypto investors and traders are nervous about winding up with an audit and tax bill years down the road that they can't afford. The best solution to this is to simply be proactive.
There are a number of things to keep in mind when you are calculating your cryptocurrency taxes. Buying cryptocurrency with USD is not considered a taxable event.