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Crypto Taxation

Guidance on evolving IRS rules and strategies to minimize your crypto tax burden while staying fully compliant with the latest laws.

Male presenter in beige suit holding a physical Bitcoin while leading a team discussion around market charts on a tv monitor--set in a modern office with candlestick graphs on screen, this scene reflects collaborative crypto analysis, advisory planning, and investment strategy.

June 25, 2024

Understanding the Tax Implications of Cryptocurrency Staking: Revenue Ruling 2023-14

This blog post aims to give a comprehensive view of the IRS's stance on the taxation of staking rewards, combined with insights from the most recent ruling.
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Physical cryptocurrency coins--Bitcoin, Ethereum, Litecoin, Ripple, and others--arranged in front of U.S. hundred-dollar bills, symbolizing the evolving relationship between digital assets and traditional wealth in tax advisory and investment planning.

June 25, 2024

Tax Consequence of Crypto Loans

More and more crypto exchanges, such as Coinbase, Binance, BlockFi, and Nexo.com offer crypto loans. You can borrow money at an interest rate usually much lower than what you would have to pay to a bank for personal loans, by using some of your cryptocurrency as collateral.
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Physical Bitcoin and Ethereum coins arranged atop U.S. dollar bills, accented by golden star ornaments--Blending traditional currency with digital assets in a celebratory nod to crypto value, financial transition, and strategic wealth planning.

June 25, 2024

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 realm continues to evolve, so does the need for clear tax guidance on various aspects of cryptocurrency transactions.
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Close up of a U.S. IRS Tax Document alongside stacks of coins--illustrating the tangible weight of financial responsibility for crypto-related tax implications in advisory planning.

June 25, 2024

The Tax Impact of This Year’s Platform and Protocol Failures

Let’s examine two of the more significant events to occur this year: the Celsius Network bankruptcy and the failure of Terra and its cryptocurrency LUNA, and discuss the potential tax implications of each.Let’s examine two of the more significant events to occur this year: the Celsius Network bankruptcy and the failure of Terra and its cryptocurrency LUNA, and discuss the potential tax implications of each.
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A female financial analyst sits at a desk surrounded by multiple monitors displaying candlestick charts, line graphs, and trading indicators. Holding her eyeglasses while reviewing the data, she works in a focused, tech-driven environment designed for crypto analysis, market forecasting, and strategic portfolio management—where precision meets agility in a fast-paced financial workflow.

June 25, 2024

The Jarretts Didn’t Break Any Ground for Stakers

Crypto channels on social media erupted jubilantly in celebration of the fact that staking income is no longer taxable. They were wrong.
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Man in a tech workspace, surrounded by screens and code for crypto infrastructure, digital security, and backend system support for high-trust financial advisory.

June 25, 2024

Understanding the Ponzi Scheme Loss Deduction for Celsius Crypto Losses

The collapse of Celsius, a major cryptocurrency lending platform, left many investors facing significant financial losses. In such cases involving potential fraud, the Internal Revenue Service (IRS) allows victims to claim a "Ponzi scheme loss deduction" under certain conditions.
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Close-up visual of Bitcoin and Ethereum coins stacked on a reflective surface and U.S. currency--symbolizing the convergence of digital assets and traditional wealth in high-trust financial strategy.

June 14, 2024

Digital Assets and Consensus Mechanism Changes – A Tax Perspective

As the world of digital assets continues to evolve, many investors and users of cryptocurrencies find themselves navigating the complexities of the tax landscape.
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Two professionals in a modern office setting engaged in a focused discussion--one presenting crypto insights on a tablet, the other taking notes for crypto tax planning and advisory strategy purposes.

June 14, 2024

Can You Avoid Paying Your Crypto Taxes Legally?

Many people wonder how the rich can get away without paying their taxes, legally speaking of course. But what they fail to realize is that most of the billionaires and giant corporations “avoiding” taxes still file annually and work with a CPA.
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