Cryptocurrency, digital asset and digital business tax preparation is very complex. In fact, over 90% of the tax returns we review have errors or missed opportunities.
Many CPAs are not experts in cryptocurrency tax codes. This can cost cryptocurrency investors and digital businesses thousands in taxes every single year.
Our team at Camuso CPA is on top of a rapidly developing cryptocurrency tax landscape.
We leverage extensive tax experience, the latest technologies and work specifically with cryptocurrency investors and digital businesses to ensure we do not make critical tax errors that cost you money.
Each tax return we prepare goes through structured review process to ensure everything is filed accurately, timely and you're not missing deductions or opportunities to reduce your tax liability.
Work with an experienced crypto CPA
When it comes to fling taxes, accuracy and timeliness is what counts. When you work with Camuso CPA you get your returns filed accurately and timely with an experienced and trusted cryptocurrency CPA.
Our team at Camuso CPA minimizes your tax burden while keeping you in compliance with IRS regulations.
Here's how the process goes
During the initial onboarding process you will have a consultation with your tax manager to discuss the tax preparation process, your tax needs, engagement expectations and what information we will need to prepare your return before you complete the onboarding process to provide your information and tax documentation.
Our team will prepare your tax return and review it for accuracy in order to find every opportunity for tax savings and to ensure tax compliance.
After we prepare and review your return in detail, we’ll send it to your for your review then schedule a consultation to review your return with you in detail before filing it on your behalf.
We help digital asset investors and digital businesses with these common issues
- Your Tax Returns Are Getting Too Complicated
- Your current CPA doesn't understand your cryptocurrency filing requirements or digital business needs
- Your current CPA's processes and workflows are outdated
- Your CPA doesn't file your tax returns accurately or on time and it's impacting your bottom line
$ 2.4 Million
$ 137,000 +
$ 128,800 +
$ 295,000 +
$ 500,000 +
$ 1.1 Million
Clients we helped
Paul, the managing partner of a successful Bitcoin mining company, sought our firm's assistance for tax planning. Our collaborative efforts led to significant tax-saving strategies for his business. Furthermore, our guidance allowed Paul to gain clarity on accelerating depreciation schedules for purchased equipment and assets. Moreover, our firm aided Paul in setting up and updating his accounting system to ensure accurate records for past transactions. This enhancement provided comprehensive financial visibility and facilitated precise tax planning and compliance strategies.Mining Operation
William, a successful NFT artist, sought our firm's assistance for tax planning, aiming to optimize his financial structure. In addition to tax planning, our collaboration led to the implementation of a robust accounting and tax projection system. This system not only ensured up-to-date financial records but also enabled William to stay proactive with estimated IRS tax payments. By proactively converting tax liabilities from ETH to USD before a significant market correction, he successfully mitigated the impact of potential market fluctuations, ensuring a more stable financial position.NFT Artist
Chad, a thriving Web3 CEO, sought our expertise for tax planning to optimize his financial structure. Our approach centered on providing Chad with comprehensive insights and information to navigate tax-related matters. This empowered Chad to make informed decisions and leverage potential opportunities within the tax landscape while aligning with his business objectives.
Additionally, as part of our collaboration, we established a comprehensive accounting system tailored to the intricacies of Web3, integrating a sub-ledger and a general ledger. This system streamlined Chad's financial operations, offering a structured approach to manage and track transactions, ensuring accuracy, and facilitating transparent financial reporting.Web3 CEO
Jonathan, a successful cryptocurrency investor, sought our firm's expertise for cryptocurrency accounting after facing challenges with various popular accounting software. These software tools not only overstated his profits by multiple millions but also lacked support for many transactions and blockchains he utilized. Additionally, Jonathan received inaccurate 1099s from exchanges, which failed to correctly report his cost basis. His extensive activity spanned approximately 15+ exchanges, 30+ wallets, and encompassed diverse transactions, including margin trading, several DeFi protocols, and NFT purchases across 10+ blockchains from 2016 to the present.
Upon engagement, our team initiated the setup of an accurate accounting system for Jonathan, meticulously updating his financial records from 2016 to the present day. We diligently reconciled his activities with the erroneous 1099s and reported his transactions accurately to the IRS.
Furthermore, through ongoing maintenance of Jonathan's accounting system, we identified loss harvesting opportunities, resulting in substantial tax savings.Cryptocurrency Investor
Tax Preparation FAQs
We are a 100% virtual organization that is headquartered in Charlotte, NC.
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
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
Yes, tax planning is the foundation to minimizing taxes and we offer ways we can help you get a tax plan in place. You can learn more about your tax planning options here.
No, most tax planning requires planning well in advance of filing taxes. However, tax planning is the foundation to minimizing taxes and we offer ways we can help you get a tax plan in place. You can learn more about your tax planning options here.
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.
You can engage our firm at any time, however, we may not be able to file on time depending on when you engage us. If you have multiple years of prior years taxes that need to be filed or amended our team can assist with this process.
We currently extend all first-year clients for quality control purposes to ensure we file your returns accurately, no tax savings go overlooked, and that you do not have to rush to complete the onboarding process to provide your tax documents.
Then the following year, we can usually file your returns before the tax return deadline if we have all the information and documentation required for the tax preparation process before the requested deadline.
In this scenario, we recommend using the IRS safe harbor of paying in 110% of last year's tax liability. This is not 100% accurate but will reduce potential exposure to penalties and interest. Alternatively, we can prepare a tax estimate for an hourly fee.
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.
What client's have to say
"Excellent professionalism and courtesy from this highly knowledgeable and dedicated firm. My go-to for crypto related accounting and preparation services. Highly recommended for any crypto asset holder."
Excellent professionalism and courtesy.
"Patrick is a fantastic accountant and is fluent with crypto / crypto-regulations."
"I work with Camuso CPA for both my business and personal taxes. They have been great in terms of tax planning and saving on taxes for my eCommerce business. Camuso CPA has also been great in terms of cryptocurrency accounting and advice related to this. My crypto situation was a nightmare and they were able to accurately handle everything. Patrick is the most knowledgeable person I have ever spoken with for crypto taxes."
HE DID A GREAT HONEST JOB
"The service was excellent. I had no idea on how to present the information. Considering that the data was put together by people with experience gave a lot of value to the service. Even if I used some of the tools online that was recommended, my situation was quite complex & would have been very time consuming to make sure that it was accurate. If I used someone without experience, this would be a very expensive & time consuming process and it may not even be accurate. In the end I thought that the service was worth it."
THE SERVICE WAS EXCELLENT
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