CPAs and Advisors for Digital Asset Investors and Businesses

Paul is the managing partner of a successful bitcoin mining company that earned several million dollars in the year he engaged our firm for tax planning. With our guidance, Paul reorganized his partnership to be taxed as an S-Corporation which enabled him to reduce his tax liability by over $145,000. This tax savings will be generated each tax year going forward.

Additionally, through our guidance, Paul gained confidence and clarity regarding accelerating the depreciation schedule for equipment and assets purchased for his company. This led to an additional tax savings of over $1.4 million in the current tax year. Identifying overlooked opportunities related to depreciation on prior year returns for two previous years led to an additional tax savings of over $950,000.

William, a successful NFT artist earned several million dollars in the year he engaged our firm for tax planning. With our guidance, William established an LLC to be taxed as an S-Corporation which enabled him to reduce his tax liability by over $137,000. This tax savings will be generated each tax year going forward.

Additionally, through our guidance, William established a proper accounting and tax projection system to keep updated financials and stay up to date with estimated IRS tax payments. This enabled William to convert his tax liabilities from ETH to USD to pay the IRS before a significant market correction which would have required almost double the ETH to pay for the tax liability if he waited until after the market price of ETH dropped.

Chad, a successful Web3 CEO and earned several million dollars in the year he engaged our firm for tax planning. With our guidance, Chad reorganized his LLC to be taxed as an S-Corporation which enabled him to reduce his tax liability by over $124,000. This tax savings will be generated each tax year going forward.

Additionally, through our guidance, Chad learned about the Work Opportunity Tax Credit. A few months after engaging our firm Chad hired two new employees which qualified for this credit for an additional $4,800 in tax savings.

Jonathan is a successful cryptocurrency investor that profited several million dollars in the year he engaged our firm for cryptocurrency accounting. Jonathan came to our firm after attempting to use several popular cryptocurrency accounting softwares which overstated his profits by multiple millions and also did not support many of the transactions and blockchains that he used. Jonathan also received multiple inaccurate 1099s from exchanges that he used which did not properly report his cost basis. Jonathan was active on approximately 15 exchanges and 25 wallets across 10 blockchains with transactions that included margin, several DeFi protocols and NFTs purchases. Additionally, Jonathan’s transactions spanned from 2015 to the present.

Our team was able to set up an accounting system for Jonathan and get his accounting from 2015 to present updated accurately. We also were able to reconcile his activity properly to the incorrect 1099s and accurately report Jonathan’s activity to the IRS.

After maintaining Jonathan’s accounting system for several months, we subsequently identified over $800,000 of loss harvesting opportunities that led to over $295,000 in tax savings.