How To Not Overpay the IRS & Avoid Bankruptcy When you receive income in cryptocurrency or have capital gains from the sale of cryptocurrency it’s important to consider the tax consequences immediately to avoid overpaying in taxes. If you do not plan your quarterly estimated tax payments in advance when you generate income or gains, […]

If you are an individual, artist or company that is selling NFTs as part of a trade or business activity you need to consider how sales taxes are applied to the sale of each NFT you sell. Do not avoid this and overlook a huge tax bill. It’s important to consider the tax consequences immediately […]

Cryptocurrency taxes and accounting are very complex. In fact, over 95% of the cryptocurrency portfolios and tax returns we review have errors, incorrect tax interpretations or missed opportunities. To worsen this issue, most CPAs do not even have a proper understanding of cryptocurrency transactions needed to adequately interpret tax code sections realted to your portfolio. […]

If you are involved with cryptocurrency, you are probably all too familiar with gas fees. Payment in Ethereum gas fees are required for a variety of transactions that take place on the Ethereum blockchain including staking, airdrops, transfers, trades, yield farming and so on. In many circumstances, these fees can be deductible for taxes but […]

Planning in advance to prepare for your cryptocurrency tax liabilities is crucial to ensure that you report your taxes accurately and pay the least amount of taxes as legally possible. You need to ensure that you are not only properly reporting your transactions in the correct character and format and that your accounting calculations are […]

Planning in advance to prepare for your cryptocurrency tax liabilities is crucial to ensure that you report your taxes accurately and pay the least amount of taxes as legally possible. You need to ensure that you are not only properly reporting your transactions in the correct character and format and that your accounting calculations are […]

Cryptocurrency taxes and accounting are crucial when it comes to protecting your assets and bottom-line from the IRS. Reporting your cryptocurrency transactions on your tax return is only your first step towards compliance with the IRS. You need to ensure that you are not only properly reporting your transactions in the correct character and format […]

Cryptocurrency taxation has been a hot topic with the IRS for years. Despite popular opinion, the IRS has been monitoring cryptocurrency for quite some time. This is why the decision by the Internal Revenue Service (IRS) to seek information from Circle on all U.S. taxpayers who traded at least $20,000 worth of crypto between 2016 […]

With the significant surge in popularity of digital marketing and non-fungible tokens (NFTs) recently, people are asking more and more questions about NFTs and cryptocurrency taxes. For the past few months, NFTs have been surging in popularity. Various platforms allow thousands of creators and artists to sell their work as NFTs. The following is a […]

Cryptocurrency taxation has been a hot topic with the IRS for years. The IRS has been monitoring cryptocurrency for years. This is why the decision by the Internal Revenue Service (IRS) to enforce a cryptocurrency taxes further did not come to many as a surprise. The cryptocurrency tax laws, are known to have been historically […]

Cryptocurrency taxation has been a hot topic with the IRS for years. The IRS has been monitoring cryptocurrency for years. This is why the decision by the Internal Revenue Service (IRS) to enforce a cryptocurrency taxes further did not come to many as a surprise. The IRS guidelines surrounding the filing of cryptocurrency taxes have […]

The cryptocurrency tax laws, are known to have been historically complex for cryptocurrency investors, miners and traders. There haven’t been many legislations that are entirely dedicated to the cryptocurrency mining businesses. Several issues regarding the earnings, investments, savings, and taxation of the cryptocurrency mining industry haven’t been addressed by lawmakers in extensive detail. However, things […]

The cryptocurrency industry, and as a result, cryptocurrency taxes are constantly evolving. Decentralized Finance (DeFi) is a rapidly growing area of cryptocurrency that provides access to financial services, including trading, borrowing, and lending, without middleman like traditional financial institutions. This has provided many financial options for traders and long-term holders. As with any evolution of […]

Here at Camuso CPA, we offer a wide array of tax services for cryptocurrency investors including tax preparation and tax planning. Financial service companies are transitioning from employee driven revenue models to information driven revenue models. Camuso CPA strives to deliver useful insights and offer relevant explanations about the latest tax and financial topics. The United […]

Cryptocurrency exchange Shapeshift is launching a new mandatory membership program that will now require users to provide personal information. Cryptocurrency exchanges are under more regulatory pressure than ever, with governments requiring that they conduct KYC and AML procedures to prevent fraud. As a centralized exchange, Shapeshift lacks the ability to operate without a license or […]