In this podcast episode, cryptocurrency tax expert Jessica shares valuable insights on how to prepare and present your crypto transactions to your accountant or tax preparer. She breaks down the essential steps, from generating tax reports to summarizing trades, ensuring your taxes tell the right story. Discover the key elements to provide your accountant, demystify crypto tax reporting, and … [Read more...]
The Surprising Truth About Crypto Losses and Tax Savings
Today, we're diving into a topic that's essential for anyone involved in the world of cryptocurrencies: taxes. (This post is from our series of Facebook Lives. Catch the next one on our Facebook channel.) Introduction Greetings, fellow crypto enthusiasts! Before you groan and think this topic doesn't apply to you, stick around, because we're going to debunk the biggest myth about … [Read more...]
Ep. 006: The Surprising Truth About Crypto Losses and Tax Savings
In this podcast episode, we explore the common misconception surrounding crypto taxes: that you don't need to report them if you've experienced losses. We reveal the truth about crypto tax reporting and how facing losses can actually lead to substantial tax savings. Learn why it's essential to understand this aspect of cryptocurrency investments and how to navigate the tax landscape for a more … [Read more...]
Ep. 005: What to Do If The Data From Your Crypto Account Is Messed Up
This podcast episode provides important tax tips for crypto investors facing issues with their exchange accounts. We emphasize the significance of maintaining detailed account history and offer strategies for reconstructing transactions if access is lost. Being proactive, downloading transaction history regularly, and keeping records of deposits and withdrawals are crucial. We also recommend … [Read more...]
What to Do If The Data From Your Crypto Account Is Messed Up
Today, we're discussing crucial tax tips on what to do if your crypto exchange account experiences issues, vanishes, or simply doesn't provide you with the information you need for tax reporting. (This post is from our series of Facebook Lives. Catch the next one on our Facebook channel.) Introduction Welcome to another Beta Virtual Assistance Facebook live session. The Importance of … [Read more...]
Ep. 003: Crypto Tax Tips: How to Navigate Different Types of Crypto Income
In this podcast episode of Thursday Tax Tips, we discuss the various types of crypto income and their impact on taxes. From the buy-and-hold strategy known as "Holding" to income from staking and interest-bearing assets, we explore the tax implications of these activities. We also discuss the concept of return of capital and the importance of choosing the right tax software for accurate reporting. … [Read more...]
Crypto Tax Tips: How to Navigate Different Types of Crypto Income
Today, we're diving into the world of crypto investing, discussing various crypto income types and how they impact your taxes. (This post is from our series of Facebook Lives. Catch the next one on our Facebook channel.) Introduction It's Thursday, and that means it's time for another round of Thursday Tax Tips with Beta Virtual Assistance! Hodling - The Buy-and-Hold Strategy The … [Read more...]
Crypto Loans Pitfalls: Avoiding Tax Traps in a Volatile Market
Explore the tax-saving potential of crypto loans and learn how to navigate their complex implications. Discover essential tips to avoid loan pitfalls and make informed financial decisions. (This post is from our series of Facebook Lives. Catch the next one on our Facebook channel.) Introduction Hello, readers! It's Tuesday which means it's time for our weekly discussion on crypto tax … [Read more...]
Ep. 002: Crypto Loan Pitfalls: Avoiding Tax Traps in Volatile Markets
In this podcast episode, we explore the intriguing world of cryptocurrency loans and their tax implications. Discover how borrowing against your crypto holdings can be a smart strategy if you avoid common tax traps, helping you avoid capital gains taxes when selling your digital assets. We also share essential tips for managing crypto loan transactions for tax purposes. However, be careful about … [Read more...]