CoinTracker’s Post

Crypto trading across borders? Think big rewards, but also labyrinthine tax complexities. Don't worry though - we've got the compass to guide you! Let's explore strategies that every global crypto trader or investor needs to master: 1. Stay Updated: Tax laws, especially around cryptos, are evolving. Keeping abreast of changes ensures compliance and optimal tax planning. 2. Record All Transactions: With countries like the U.S. and Australia having comprehensive reporting requirements, maintaining detailed records is paramount. 3. Understand Your Residency: Your tax obligations differ significantly based on your tax-residency status, not just where you conduct transactions. 4. Consult Experts: With a diverse tax landscape, seeking expert advice, especially for complex trading strategies or large volumes, is invaluable. While the crypto-taxation landscape may seem daunting, being well-informed, proactive, and seeking expertise can help navigate these choppy waters with finesse. For those looking to delve deeper, our comprehensive guide and consultancy services can ensure your global crypto transactions are tax-optimized and compliant.

Good content alert 🚨 I'm thrilled to share that I will be speaking at an exclusive Forbes webinar on the rapidly evolving landscape of #cryptocurrency taxation. The crypto market experienced a weird run in 2023 ending the year with a 💥, bringing not only exciting investment opportunities but also a complex web of new regulations and tax guidance. 🔍 This Can't-Miss Webinar Will Cover: The taxation nuances of #Bitcoin #ETFs and what investors need to know. Insight into the tax forms crypto investors will be navigating this year. An in-depth look at the latest #tax guidance allowing firms to mark crypto holdings to market. 📆 Why Attend? In a world where crypto taxation is becoming increasingly complex, staying informed is not just an advantage—it's a necessity. This webinar is your chance to get up-to-date information on crucial developments and have your burning questions answered by experts in the field. 🔗 Ready to Dive In? Don't miss this opportunity to navigate the crypto tax landscape with confidence. Register now to secure your spot and join us!

Although the new 1099-DA tax form won’t be issued until 2026 for tax year 2025, there are some extremely important steps taxpayers should be taking advantage of in 2024 BEFORE these new regulations go into effect. Please reach out if you’d like to discuss! #cryptocurrency #bitcoin #blockchain

Excited to share my recent interview on Yahoo Finance’s Wealth! segment! I discussed the latest IRS tax guidance for brokers and how it impacts crypto investors. "I would expect a massive increase in audits and criminal investigations based on this information, and more attempts to decrease this tax gap and collect more money from crypto investors." Watch the full interview here!

Last year, we helped a crypto investor shave £4m+ off their tax bill! 😎 How -> Our team provided smart contract analysis, fair market valuations, capital gains calculations, and our interpretation of HMRC guidance to the investors' crypto specialist accountant Louise Lane at Wright Vigar. Together, we worked with Andy Wood - a tax barrister with expertise and interest in crypto, on the analysis to confirm our overall position. Crypto is new, and HMRC guidance can't cover every avenue. Sometimes, we need to dig into legislation and draw from the expertise of tax barristers to make the call. In this case, the investor participated in activity outside the guidance status quo, resulting in tax savings of £4m+. Need help with your crypto taxes? We're the UK experts! From on-chain analysis to fair market valuations, we've got you covered. Please get in touch if you want to know more.

📢 Tax season is here, and for digital asset holders, understanding IRS requirements is crucial. From reporting rules to handling losses in cases like FTX's bankruptcy, navigating this space requires guidance. #TaxSeason #DigitalAssets #IRSCompliance #TaxAttorney https://hubs.ly/Q02p7XXT0

📢 Tax season is here, and for digital asset holders, understanding IRS requirements is crucial. From reporting rules to handling losses in cases like FTX's bankruptcy, navigating this space requires guidance. #TaxSeason #DigitalAssets #IRSCompliance #TaxAttorney https://hubs.ly/Q02p7M_d0

📢 Tax season is here, and for digital asset holders, understanding IRS requirements is crucial. From reporting rules to handling losses in cases like FTX's bankruptcy, navigating this space requires guidance. #TaxSeason #DigitalAssets #IRSCompliance #TaxAttorney https://hubs.ly/Q02p7PmX0

🔐 Self-custody of your crypto offers unparalleled freedom, but remember: with freedom comes responsibility. Managing your funds wisely and fulfilling tax obligations are crucial. Stay empowered by understanding the importance of responsible financial management and tax compliance in the crypto space.

In 2021, the bipartisan Infrastructure and Investment Jobs Act classified crypto exchanges and trading platforms as brokers – the released draft of the IRS’ Form 1099-DA sheds light on what this new process might look like.   Learn more about this update from Anthony Tuths in Accounting Today: https://lnkd.in/ejzzn3ni