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You are picking up income on trades and swaps and rewards no matter if you pull the cash out in USD or not! You need a CRYPTO CPA! Just assume everything you do is taxable, talk to a Crypto CPA!

Keep an eye out for exchanges that are reporting to the IRS. They will send you a 1099B statement. Robinhood, Coinbase, Bittrex, Cash App, BlockFi, Uphold, etc. This will have the capital gains and losses report. That means the IRS already knows what you should be reporting.

If you are unclear on the impact of your taxes for crypto you NEED TO TALK TO A CPA for tax planning. Reconcile your crypto. Have a year end meeting. Follow the plan that you and your CPA agree on to reduce. If you get this scheduled now, you have time to make an impact.

And then hear back in 2035. 🙃

You are picking up income on trades and swaps and rewards no matter if you pull the cash out in USD or not! Just assume everything you do is taxable. If your #CPA is the same CPA that dad used, make sure they know how to reconcile #crypto. Crypto specialty is critical.

Open house for a new, bigger office, for new, bigger things! Glow up in growth!

Me: "Anything else change with your tax situation this year?" TP: "Yeah, I started an S-corp last year." That sure as shit would've been good to know like YESTERDAY. #TaxTwitter

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