If you’re an investor in crypto currencies like Bitcoin or Ethereum, you likely have lots of tax questions. It’s a new and complicated area of taxation and the IRS is cracking down on unreported crypto transactions. Some believe that crypto transactions are anonymous and that the IRS will never find out about them. For most, that couldn’t be farther from the truth.
This video is part 2 of my interview with fellow CPA, Sharon Yip. She is an expert in crypto taxation and her accounting and tax firm uniquely specializes in cryptocurrency taxation for individuals and businesses.
The crypto tax software Sharon recommends is CoinTracking.info. You can sign up here.
For those who want to see the first part of this video wherein Sharon addressed some of the misconceptions about cryptocurrency taxes, you may watch it here.
Sharon is one of the top crypto tax experts in the U.S. She published articles on Bloomberg Tax, has been interviewed by various news media such as CoinDesk, Cryptonews, Morning Brew etc. She has even advised the IRS about crypto tax related issues.
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Do you have questions about Your Crypto Tax Questions Answered for Investors by CPA | Sharon Yip, Part 2? I’m an Illinois licensed, Registered Certified Public Accountant with over 25 years of experience. I’m dedicated to providing outstanding tax and accounting services to individuals and small businesses in the Chicago area.
Disclaimer: Any accounting, business or tax advice contained in this article, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, I would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.
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