Individuals

https://youtu.be/SJl4zFVlUg8 The end of the year is nigh, and it’s time to (perhaps reluctantly) crunch some numbers in order to make sure that you maximize your refund. Bear with us: there have been some big changes to the tax law that affect everyone. Some of these changes are rather simple. For example, the tax bracket structure has changed to max out at 37% instead of the old 39.5%. Also, the standard deduction has almost doubled to $12,000 for Single and $24,000 for Married Filing Jointly. Third, the Child Tax Credit doubled to $2,000 per child and phases out at a…

Short answer: Yes, we do. Long answer: We work with many clients who actively trade cryptocurrencies, mine, or hold onto some form of cryptocurrency. When we discuss cryptocurrencies with potential clients, we ask about the following: Do you keep track of your basis? What exchanges are you currently on? Are you using cryptocurrency as a currency or just investing in it? Are you actively mining? Are you trading cryptocurrency on a regular basis?   If you are not keeping track of your basis, we recommend using the website www.bitcoin.tax to manage your portfolio. TL;DR: Accounting has an account on the…