What Are Unrealized Gains? A Simple Guide That Could Save You Money
If you invest in cryptocurrency, stocks, or other assets, you’ve probably heard the term “unrealized gains.” But what exactly does it mean, and why should you care? Understanding unrealized gains can help you make smarter financial decisions and, more importantly, avoid unnecessary tax liabilities.
The Tax Implications of Different Crypto Transactions: Trading, Mining, and Staking
Explore the tax implications of trading, mining, and staking cryptocurrencies. Our technical guide breaks down complex scenarios for informed decision-making.
7 Crypto Tax Mistakes That Could Trigger an IRS Audit in 2025
Avoid costly crypto tax mistakes that could trigger an IRS audit in 2025. Learn about Form 1099-DA, DeFi tax rules, and how to report crypto transactions correctly
2025 Crypto Tax Guide: What You Need to Know to Avoid Trouble with the IRS
This comprehensive crypto tax guide will help you understand the latest rules, avoid common pitfalls, and explore strategies to optimize your situation in 2025.
Revenue Procedure 2024-28: Navigating the New Basis Allocation Rules for Digital Assets
By: Sharon Yip, CPA In a pivotal move toward enhancing the clarity of digital asset taxation, the IRS issued Revenue Procedure 2024-28, […]
Gifting Cryptocurrency
By: Sharon Yip, CPA Gifting cryptocurrency to friends and family is quite common amongst crypto users, especially during a bull market like […]
Navigating the Complexities of Draft Form 1099-DA
As the IRS prepares to launch the new Form 1099-DA (available in DRAFT form now) for reporting digital asset transactions in 2025, it is […]
Losses from “Substantial Decline in Value” of Crypto Assets aren’t Deductible
By: Phil Gaudiano, CPA Crypto investors know 2022 was a banner year for failures and frauds in the crypto space. In our […]
Wash Sale Rules May Soon Apply to Your Crypto Losses
By: Phil Gaudiano, CPA As part of the negotiations around the “Recovering America’s Wildlife Act” (House version & Senate version) currently making the rounds […]
Understanding the Tax Implications of Cryptocurrency Staking: Revenue Ruling 2023-14
Introduction Cryptocurrency, specifically its staking mechanisms and its tax consequences continues to be a hot topic. We’ve previously discussed the topic here. Recently […]
Tax Consequence of Crypto Loans
By: Sharon Yip, CPA More and more crypto exchanges, such as Coinbase, Binance, BlockFi, and Nexo.com offer crypto loans. You can borrow […]
Understanding IRS Guidelines on Charitable Contributions of Cryptocurrency
Recently, the cryptocurrency space has grown exponentially, with digital assets becoming a significant part of the financial landscape. As this new financial […]