For Americans with money to invest, the crypto industry’s pace of development can be confusing. Whether hype or reality – and, often, it’s a bit of both – the stories we read online and the conversations we hold over the barbeque can leave us unsure of what to think,...
High-quality crypto transaction data covers the complete series of transactions in a given date range. You need all the data to accurately calculate an asset’s correct cost basis – and, ultimately, the profit you made on it.
Why now? It is an ideal time to start thinking about tax-loss harvesting. The final countdown has begun, and 31 December 2022 can be seen waiting on the horizon. The rollercoaster of crypto has seen more downs than ups, and luckily, the chapter is coming to a close,...
What is Operation Hidden Treasure? Operation Hidden Treasure was introduced on March 5, 2021, by the IRS Director of the Office of Fraud. You may feel like the IRS is not always on your side, but you cannot argue their creative abilities in naming departments needs a...
If you are residing in the UK, and trading with cryptocurrencies, you could be liable to pay crypto tax. The HM Revenue and Customs (HMRC) was one of the first tax offices worldwide to seize the lucrative revenue opportunity that United Kingdom (UK) crypto tax may...
Under the Wealth Tax system… An employee receives crypto as a salary or part of a salary, this will be part of their taxable income…
Crypto Tax in Australia is a very hot topic as Australia is one of the countries in the world with a high crypto ownership rate. According to a survey released by Finder, the country ranks 3rd out of 27 countries, with 22,9% of Australians owning crypto. As the number...
Are you unsure about how crypto tax works in the US? The reality is that the Internal Revenue Service (IRS) guidelines are evolving, which may incentivise behaviour such as “I’ll pay my tax when the IRS finalises their guidelines”. However, new legislation from last...
The South African Revenue Service and Crypto Assets The South African Revenue Service (SARS) has set its sights on a new lucrative income source. For the last five years, we have been calculating crypto taxes for clients, it is safe to say we have performed more...
Please note that the information below is an opinion and cannot be used to rely on as formal tax advice. In order to obtain formal tax advice regarding your tax situation, please contact us directly for a consultation. For the lazy reader I start with a summary: It...