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Welcome to Crypto Tax Man where we take the stress out of crypto taxes!
In October of 2019 the IRS has released a long awaited guidance to clarify some topics relating to the original 2014 crypto tax guidance. See below to familiarize yourself with the original and newly released notices.
Knowing your options for reporting your cost basis is crucial!
The IRS holds individual investors responsible for reporting cost basis accurately, so knowing your options as an investor is very important. In the traditional securities markets, your broker will typically record and transfer cost basis for the investors. Cryptocurrency trading is still in it's infancy, therefore, these options either are not available, or they will not be applied when trading on multiple exchanges.
Tax Time Topics: Cost Basis, What You Need to Know
What we strive to do for clients....
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Phone: (321) 209-1693
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We partner with many professional to make sure we can provide you with the best service possible.
Click on the link to find help through one our professional partners!
Core Wealth Planning - Retirement Planning, Wealth Management, Estate Planning, Tax Planning
Sheree Radakovich CPA LLC - CPA
Cointracking - Cryptocurrency Tracking and Tax Reporting
Calculating your cryptocurrency capital gains and losses isn’t always the easiest of tasks, especially during tax season and Crypto Tax Man will help make this process much easier for you! We will assist you by pulling your trade history reports or connecting your exchange API's. Whether you’ve only traded on one exchange, or if you’ve traded on 20 exchanges, we can handle your reconciliation and offer a crypto package that will fit your specific needs. Our goal is to make this process as stress free as possible for individuals as well as business owners who may be concerned with completing their crypto reconciliations properly. We have put together pricing plans and options making the cost for our services as transparent and affordable as possible. The package options were created to avoid any price adjustments during the reconciliation process. Once we have completed your crypto tax reconciliation, for an additional fee, one of our CPA partners will be available if needed to file your taxes in the event you don’t already have a CPA, and aren't planning to file your own tax return.
A+++ After downloading and reading through the IRS guidelines for declaring crypto assets, I felt completely overwhelmed. I searched through multiple posts on Reddit and other sites which were filled with conflicting interpretations of the tax code. After 3 months of research I was about to throw in the towel when I stumbled across Crypto Tax Man. With their assistance I was able to figure out the best way for me to fully comply with the IRS guidelines while still declaring the significant losses that I had during early 2018. Highly recommend Crypto Tax Man's services if you are planning on seriously trading and investing in the wild west of Crypto assets.
Crypto Tax Specialist / Founder
Crypto Tax Man is a team of financial professionals whom have been navigating the financial industry for several decades. Being crypto traders and enthusiast ourselves, our main goal is to use our industry knowledge in order help fellow crypto traders complete their crypto capital gains or losses accurately. Prior to 2010, cost basis records for traditional securities trading were not required to be transferred between brokers. It was a very manual process. And now with crypto, it's a very similar process. If you are trading on multiple exchanges, in most cases the benefit of choosing the proper reporting and cost basis method will save crypto traders a significant amount of money in taxes. We strive to make sure that each of our client's crypto tax reporting is as timely, accurate, and tax efficient as possible!