Need a certified tax professional specializing in cryptocurrency taxes to help with your reporting? If you want to hold onto your digital assets, you're going to need a solid tax strategy. Fortunately, in New York, the existing statutory frameworks and guidance support treating Crypto as an asset that can fit within current exemption frameworks. It pays to stay on the right side of the law, and Clinton made it as easy and straightforward as possible. When you become our client, we will get to know you and become an insightful financial partner who really understands your goals and challenges. TheAICPAoffers several digital asset materials, with and without purchase, from its Digital Asset Resources webpage (https://bit.ly/2TreI8T). Save time and enjoy peace of mind! But opting out of some of these cookies may have an effect on your browsing experience. I went through a dozen accountants, CPAs, and accounting partners. Tax Professional 8889990829 http://www.taxpreparationaccountant.com Our firm utilized technology to allow greater response time and ease of correspondence with clients via personal portals. Similarly, the individual circumstances surrounding the purchase and sale of an NFT may affect whether the transaction remains exempt from sales tax as intangible property pursuant to the Departments guidance for Crypto. Our practice is dedicated to helping crypto investors manage their taxes. from Bitcoin to Ethereum) is also a taxable event, Spending crypto assets on goods or services is a taxable event, A transfer of the same crypto asset from a wallet address to another wallet address is not considered a taxable event, but you should still maintain a record of the transaction, Selling coins or tokens that were received from airdrops, farming, staking rewards or mining is considered a taxable event, Selling coins or tokens that were airdropped via a fork (i.e. We deal with every aspect of your cryptocurrency tax all the way from disposal of assets, purchases with crypto, airdrops, staking and forks in the blockchain and their consequences for income/capital gains tax. With us in your corner, you'll avoid tax penalties and will keep more money in your virtual wallet. These trades are reported on Form 8949. CTC Tax Services LLC - Tax and Accounting Services for Individuals and Book a confidential, 30-minute consultation. Clinton assisted me in handling a complex cryptocurrency filing, for several digital currencies including bitcoin, ethereum, and litecoin. We are here to help long term investors, traders, miners, and clients who accept payment in Cryptocurrency. The Crypto Lawyers | A Cryptocurrency and Blockchain Focused Law Firm New York, NY 641 followers . Blockchain Accountants | Cryptocurrency CPA - Azran Financial We can help with all things taxfrom reporting crypto gains to figuring out how to pay your taxes in cryptoso you can rest assured that you're in good hands. Featured service: Equity consultation with tax advisor, Tax and financial planning for liquidity events, Strategically structure accounts for retirement, Financial, Tax, and Estate services & advisors, Virtual equity consultation with a tax advisor, Trading from a crypto asset to fiat currency like USD is a taxable event, Trading from one crypto asset to another crypto asset (i.e. His tips greatly helped me save money which I cannot be more thankful for. It can be downloaded for free and covers accounting topics such as classification and measurement, recognition and derecognition, third-party hosting, investment companies, broker-dealers, and fair value measurement, as well as audit topics such as auditor and management competencies, overall business strategies, and processes and controls (https://bit.ly/3dBi00a). Cryptocurrencies: Time to Consider Plan B (March 2018) is a short, downloadable article that provides an overview of the characterization of cryptocurrency as an intangible asset under U.S. accounting rules, a discussion of digital tokens and blockchain, a summary of how cryptocurrency fits into U.S. GAAP, and PricewaterhouseCoopers support for a fair value measurement model (Plan B) as a better representation of the impact of cryptocurrency (https://pwc.to/2Ufgdr4). The Crypto Accountant | Crypto Accountants in the USA | Koinly Saim and his team pieced it all together so I could get a clear understanding of everything in one picture. TaxBit | Tactic | LinkedIn div.id = "placement_461032_"+plc461032; Our team has worked with countless clients across a wide variety of industries. Thus, the tax status of an NFT may depend on the circumstances of the purchase and sale and the nature of the particular NFT in a way that is different from Crypto. I could not have been more pleased with the services provided by George Dimov, CPA, especially because of the short amount of time I gave him to prepare my extended federal and state income taxes. The Akif CPA team guided me on how I can save money on taxes. We keep up with the latest rules, regulations, and trends so you dont have to! I invest in tokens like XLM, VET, tokens that are staked, Defi tokens that earn me income and use decentralized exchanges. 18, 2001). Bitcoin.Tax provides a full tax preparation service in partnership with tax attorneys, CPAs and enrolled agents in both the US and Canada. All Rights Reserved. Saim, Alex and Amyn treated us in a personal and confidential manner. (See the Sidebar,FASB and IRS Cryptocurrency Materials.). From creating your entity from the start to payroll & bookkeeping, George Dimov can take your accounting needs to the next level. var plc461032 = window.plc461032 || 0; Our team can help you assess your current tax situation, navigate complicated crypto issues, and identify tax reduction strategies. Bitcoin Slides With Wider Crypto Markets Amid Silvergate Fallout Sign up to get crypto accounting tips, tax strategy and advice, and crypto news from the expert in your inbox. Close Wolters Kluwer Navigation About Wolters Kluwer I really like the tax organizer provided. The New York Tax Appeals Tribunals recent decision in In re LePage12 also supports this treatment. We have a deep understanding of crypto-currencies. Connect with a professional today. ACCOUNTING A strong CPA should be able to communicate these uncertainties to you plainly. Best CPA in Little Italy, NYC. Only limited material is available in the selected language. This is exactly the type of asset that is intended to qualify for the self-trading exemption, and the not limited to language leaves the exemption open to new types of assets, such as Crypto. List Of Cryptocurrency Accounting Firms | UseTheBitcoin Delerme CPA is a U.S. CPA firm specializing in cryptocurrency taxation. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Clinton's expert advice helped me utilize international tax treaties to avoid double-taxation by the IRS. He is extremely knowledgeable and a pleasure to work with. Home - Crypto Tax Accountant About The Company We're a team of IRS Enrolled Agents and CPAs who provide tax services for crypto. Zachary Gordon, CPA LinkedIn: Coinbase's CEO Cites 'Rumors' the SEC Natalya responds to all my questions and breaks down tax info so it's more understandable to me. Taylor Locke @itstaylorlocke. This Legal Update addresses potential NYC Unincorporated Business Tax (UBT) and NYS Personal Income Tax (PIT) considerations, namely, whether transactions in Crypto should be considered eligible for the taxes respective self-trading exemptions. We are leading crypto tax accountants in Toronto. Our website offers powerful do-it-yourself resources and full-service crypto tax preparation services. Avoid taxes on over $40 million in gains by using Like-Kind Exchange calculations. private citizens) Zachary Gordon, CPA LinkedIn: Coinbase's CEO Cites 'Rumors' the SEC May Ban Crypto Staking for Retail UK Crypto Experts. Now he's returning to a shell-shocked industry. Cryptocurrency and Non-Fungible Tokens: NY Tax Considerations for Fund Managers, Digital Assets, Blockchain & Cryptocurrency. They saw how inexperienced we are and treated us like valued family members. Get your crypto tax returns prepared to avoid tax penalties and IRS problems. Self-Employment Accountant Manhattan, NYC | CPA for Self Emloyed Queens Prepared over 850 anti-money laundering reports required for many crypto traders. Audit defense A cryptocurrency accountant can help defend against potential penalties and fines if the IRS ever audits you. We also use third-party cookies that help us analyze and understand how you use this website. Right from the beginning, the Akif team gave us the confidence to trust their expertise. The Rise of Using Cryptocurrency in Business, https://www2.deloitte.com/us/en/pages/audit/articles/corporates-using-crypto.html. All rights reserved. ACCEPT NewYorkCoin. Clinton took the bottomless headache of the crypto [currency] documentation required for taxes, and condensed it to a simple set of instructions. Prior Department guidance in a somewhat related context, however, may be helpful. 12 No. I really recommend him to any American who is looking forward to sleep in peace regarding Tax Return filing in the States while leaving abroad. The Rise of Using Cryptocurrency in Business: Considering the Benefits of Crypto(https://bit.ly/3Aj8GrB) looks at engaging in transactions using digital assets and provides Deloittes perspective on when to use crypto, such as providing access to a new type of customer and a new type of capital. The writing is " bad in spectacular ways ," its editor said. I would highly recommend Saim as your CPA, especially if you are a business owner, involved in cryptocurrency, or even just need help filing your taxes for your job. 2021 Accounting Firm and Tax Practice Cryptocurrency Tax Guide He answered all my questions related to my wallet and international tax laws on reporting. The UBT does not distinguish between capital gains and losses, but the federal treatment as property is fundamental to the calculation of income or loss from the asset, which then determines UBT gross income and loss. Thinking Of Hiring A 'Crypto CPA'? Read This First I thought do-it-yourself tax online tax preparation was straight forward but working with Clinton has definitely opened a new door for me. A reputable Bitcoin accountant in New York will help you to understand the evolving regulatory landscape. Crypto tax guidance regulation is always subject to change but the team is on top of it. Hands down the best team out there! Home - Crypto Tax Accountant Our experts understand cryptocurrency tax obligations and the unique needs of all participants working with both establishing and emerging blockchains, exchanges, and marketplaces (including DeFi, NFTs, stablecoins, and altcoins). This website uses cookies to improve your experience. I trust Akif with all of my financial needs and with my future! 2022 The New York State Society of CPAs. Users of the bitcoin.tax platform can get tax preparation, advice and planning with a crypto tax professional to complete and file their tax returns. Get started Answer some questions Let us know about your needs so we can bring you the right pros. Cryptocurrency Accounting Resources - The CPA Journal Bitcoin, Litecoin, Ehtereum, Ripple, IOTA, NEO, NFTs and more. My situation was difficult with very little time to resolve. He works quickly and professionally and has a well-honed process every step of the way. Crypto raises a variety of state and local tax questions. We'll discuss the . He provided excellent advises with a very smooth communication. var divs = document.querySelectorAll(".plc461032:not([id])"); Trib., May 17, 2021). If you took part in anything other than simply buying crypto to hold in a wallet, you should highly consider discussing your potential tax liabilities with a professional. Cryptocurrency tax lawyer for business. Each state, town, and county has its own tax laws. document.write(''); var rnd = window.rnd || Math.floor(Math.random()*10e6); Cryptocurrency Tax Lawyer | Master Your Crypto Taxes with the Pros Arman Chowdhury, CPA, P.C. Highly recommended. You'll have access to crypto controls and regulations, crypto accounting, and strategic planning. Clinton has been handling my taxes for the past 3 or 4 years. The Crypto Lawyers is a cryptocurrency and blockchain focused law firm that provides guidance concerning litigation, money transmission, token offerings and more! Clinton is very knowledgeable and has hands-on experience in dealing with international taxation matters specifically related to Canada/US reporting. 9 Exchanges to Buy Crypto & Bitcoin in New York (2023) Sign up with Harness Wealth today to find both tax and financial advisors that will ensure that your crypto and overall assets are protected. Compliance Crypto tax advisors can ensure you follow the latest regulatory changes and stay compliant. (646) 586-5427. 14 Wall St. 19th Floor My boyfriend and I interviewed a few CPA's and upon meeting him, we immediately knew we would be choosing him. As professional tax accountants in NYC, we work with countless clients throughout New York. $ 3500 per year Select. Do you have questions about your tax situation? In the United States all profits made from the purchases and sales of crypto assets such as Bitcoin, Ethereum and NFTs are subject to capital gains taxes (including airdrops). Published Tue, Feb 1 2022 9:00 AM EST. We can provide assistance preparing gain and loss summaries as well as determine the correct tax treatment for various transactions. Crypto accountants reducing taxes for businesses and investors on cryptocurrency trades, mining, tokens, and other activities. Get the most out of your cryptocurrency, virtual currency, Bitcoin, and other blockchain-based finances. var absrc = 'https://servedbyadbutler.com/adserve/;ID=165519;size=300x250;setID=282686;type=js;sw='+screen.width+';sh='+screen.height+';spr='+window.devicePixelRatio+';kw='+abkw+';pid='+pid282686+';place='+(plc282686++)+';rnd='+rnd+';click=CLICK_MACRO_PLACEHOLDER'; Do I need to give you my data for past years? Accountant websites designed by Build Your Firm, providers of CPA and accounting marketing services. A raft of crypto companies cut ties Thursday with one of the digital-currency market's top banks, Silvergate Capital Corp., whose financial troubles threaten the industry's ability to fulfill . I highly recommend contacting these guys, you wont be sorry, I promise you that. 2023 CoinsTax LLC. Perhaps the biggest (alleged) crypto scam related to New York is the most popular stablecoin: Tether (USDT). (718) 767-0737. Get 'Quick Quote' & Begin Services Crypto Tax Accounting Service: Break-through overwhelm due to the vast amount of crypto transactions you have. How to Find a Crypto Tax Accountant - TokenTax Free consultation. He is dedicated to his customers needs, efficient and a very knowledgeable professional and that I would highly recommend to anyone who has a complex Income Tax situation or challenging accounting need. A crypto CPA can help you prepare your taxes using software such as TurboTax. They can also advise you on the . They also helped me with gathering transactions from decentralized exchanges which is very complicated and dex does not provide a CSV of your transactions. Wyoming 1712 Pioneer Avenue, Suite 135 Clinton helped me a ton with cryptocurrency related matters on my tax filing this year. Clinton can show you how to keep the IRS off your back and put more money in your pocket. In a new and expanding field you can rest assured we are going to stay at the forefront of this issue which is a hot topic with the IRS. Top rated CPA in Lower Manhattan. How to buy crypto in New York through an exchange. Find the best cryptocurrency tax preparation service, CPA, or Lawyer in the USA. Elon Musk is considering starting his own A.I. On the financial accounting side, receipt of virtual currency from a customer falls under revenue recognition rules for digital assets. Clinton took care of my tax return twice so far, and Im glad he did.