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Taxes are usually the largest yearly expense for most taxpayers. Unfortunately, cryptocurrency investors and digital business owners almost never receive adequate tax advice or planning from their CPAs on how to reduce their tax bills.
To worsen this issue, most CPAs do not even have a proper understanding of cryptocurrency transactions neededin order to adequately interpret tax code sections realted to your portfolio.
The sad truth is that most cryptocurrency investors and digital business owners are leaving thousands of tax dollars on the table. We review hundreds of new tax returns each year and over 90% of them have errors or missed opportunities that cost taxpayers thousands and sometimes millions of dollars.
This is because most taxpayers only meet with their CPA once per year to file their taxes. The problem is by then, it’s way too late!
Your tax return is reporting last year's activities but to legally minimize your taxes you must implement specific strategies throughout the entire year, well in advance of year-end and tax filing season. In fact, some strategies are planned multiple years in advance.
You need to work with an experienced CPA that is looking into your future, not just what happened last year. That's why we have designed a well-tested, properly structured Tax Advisory and Ongoing Support plans.
We save digital asset investors and digital businesses thousands and cumulatively millions with effective tax planning strategies and proactive advice.
Here's how the process goes
During the initial onboarding process, you will have a consultation with your tax advisor to discuss your business, the planning process, engagement expectations and what information we will need to complete the engagement.
During our tax planning consultations your advisor will recommend relevant tax strategies to you by explaining them in detail and the resulting tax benefits associated with the tax strategies. You will learn how the Tax Code relates to your specific portfolio, business and personal taxes and get all of your questions answered.
We provide a personalized tax plan report that details each recommended tax reduction strategy. This plan is your personalized tax roadmap that details our tax strategy recommendations, estimated tax savings, tax code section references and action steps for implementation so you can refer back to this as any point as an ongoing reference.
Your tax advisor is available to you on an as needed basis throughout the year to support you as your portfolio and business grow. We provide ongoing email support and periodic check-in calls.
Our proven tax planning process is designed to provide you with a roadmap of the best strategies available to legally minimize your taxes and to protect your assets based on your current situation and future goals. Our goal is to ensure you’re not missing out on any major tax saving opportunities. Our clients normally recoup their investment in their tax plan within 1 to 2 years.
Tax Planning Packages
Minimize taxes and protect your assets
Tax Planning FAQs
We are a 100% virtual organization that is headquartered in Charlotte, NC.
We work with cryptocurrency investors and digital business owners of virtually all types. We’ve worked with clients with a handful of crypto transactions to clients with tens of thousands of highly complex transactions and established businesses.
We have experience serving the sophisticated and expanding needs of a wide range of institutional, corporate, high-net worth and individual clients including:
- Cryptocurrency, DeFi & NFT Investors
- eCommerce Businesses
- Crypto Mining Operations
- Corporations with Crypto Transactions
- NFT Artists & Dealers
- VC Firms
- Consultants and Advisors
- Executives compensated with crypto and/or RTUs
Tax planning generally has to be done well in advance of earning income or generating capital gains. It is important to do tax planning well in advance of your actual tax needs. Unfortunately, many companies and investors that come to us have been overpaying in taxes for years.
If you've never received quality cryptocurrency and digital business tax planning, it can make sense regardless of where you are in your business or investment progress.
We’ve worked with everyone from brand new investors and small businesses to large companies and investors.
We can prepare virtually any type of federal or state tax return, most commonly:
- Individual returns: Form 1040
- Partnership returns: Form 1065
- C-Corp & S-Corp returns: Form 1120 and Form 1120-S
- Trust Returns: Form 1041
- Foreign Reporting: Form 114 & Form 8938
- State returns across all 50 states
No, most tax planning requires planning well in advance of filing taxes. Tax planning is the foundation to minimizing taxes. After we comple your tax planning process, we can also prepare your taxes each year. You can learn more about your tax preparation process here.
Yes, your tax advisor will review this as part of the tax planning process in order to identify any material errors or opportunities. If there are issues or opportunities our tax advisor will explain your options to fix the issues or to prevent them for reoccurring in the future.
Cryptocurrency and digital business tax is often more complex than other businesses, and many CPAs will rush through the preparation and filing process which often leads to errors that can cost you money.
Most CPAs aren’t even aware of the tax laws related to cryptocurrency and digital businesses and will overlook opportunities available to you which can cause you to overpay in taxes. Not only will they miss opportunities, but sometimes they will make mistakes that will cost you even more to correct in the future.
At Camuso CPA, we pride ourselves on the ability to prepare your return accurately while at the same time ensuring that you're not missing out on opportunities for substantial tax savings.
Most CPAs do not offer tax planning because they focus on tax filing and accounting only. Many CPA firms are only taking a historical viewpoint on your business and portfolio and not planning for the future. Our well tested tax planning process is designed to critically assess your current situation and future goals to identify opportunities in the tax code to legally minimize your future tax liabilities.
Yes, excluding our administration staff, all members of the firm take at least 40 hours of continuing education (CPE) per year.
In addition to CPE, we have professional research software and subscriptions that provide updates on changes to the tax code and the latest developments in the cryptocurrency and digital business industry.
When sharing data we use Sharefile which is supported by Citrix.
Citrix meets SOC 2 compliance, a framework designed by the AICPA to safeguard the storage and transfer of customer data in the cloud. SOC 2 reports are issued by independent third-party auditors covering the principles of Security, Availability, Confidentiality, and Privacy.
Yes, we offer cryptocurrency accounting services, e-Commerce and traditional accounting services. To learn more about this please visit the cryptocurrency accounting and outsourced accounting webpages.
To get started please visit our Work with Us webpage. If you fit the description of clients we work with, please fill out a webform to contact our team and provide as many details about your tax and financial situation as possible. Our team will reach out after your form submission within 1-3 business days.
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