Can Prediction Market Activity Qualify as a Trade or Business?
Quick answer (read this first): What this article addresses: Can prediction market activity qualify as a trade or business, and what changes if it does. The answer depends on the […]
Forbes 2026 Best-in-State Top CPA Recognition and the Evolution of Tax and Accounting
Patrick Camuso was included on the Forbes 2026 Best-in-State Top CPAs list, marking a second consecutive year of recognition. That recognition comes at a time when the digital asset landscape […]
Hyperliquid Prediction Market Tax Analysis (HIP-4)
Quick answer (read this first): What HIP-4 is: Hyperliquid’s outcome contract framework, announced in September 2025 and live on testnet as of February 2026, introduces binary prediction market instruments directly […]
How to Fix Incorrect Crypto Tax Returns
Quick answer (read this first): When correction is required: When reported gains or losses were materially wrong due to missing acquisitions, misclassified transfers, unrecognized income events, or software errors and […]
Why Crypto Tax Software Fails With Historical Portfolios
Quick answer (read this first): What crypto tax software does: It calculates gains and losses from the transaction data imported into it. It applies an accounting method to whatever inventory […]
Can You Fix Crypto Taxes Without Addressing Prior Years?
Quick answer (read this first): The short answer: No, you can’t fix crypto taxes without addressing prior years?. Cost basis is cumulative. Every year’s ending inventory becomes the following year’s […]
Camuso CPA Featured in Wired on Prediction Market Tax Reporting Challenges
Wired published a piece examining the tax reporting challenges facing prediction market traders following the explosive growth of platforms like Kalshi and Polymarket. Patrick Camuso, CPA was quoted in the […]
Camuso CPA Featured in Accounting Today on 1099-DA Reporting Challenges
Accounting Today published a piece on March 23, 2026 examining the 1099-DA reporting challenges CPAs and their clients are navigating in its first active tax season. Patrick Camuso, CPA was […]
Prediction Market Loss Deductions Explained
Quick answer (read this first): The short answer: It depends entirely on how your prediction market activity is characterized, and the rules differ so significantly across frameworks. Why prediction market […]
How to Calculate Cost Basis for Crypto
Quick answer (read this first) The formula for how to calculate cost basis for crypto: Cost basis = purchase price + capitalized transaction fees, assigned to a specific tax lot […]
