Understanding Safe Harbor rules for 2025 Starting January 1, 2025, you’ll need to track your cryptocurrency gains and losses separately for each wallet or exchange account you use. The IRS understands this is a big change, so they’ve provided “safe harbor” rules to help you transition your existing holdings....

Starting January 1, 2025, as defined in Revenue Procedure 2024-28 the IRS requires all US taxpayers to track their cryptocurrency cost basis on a wallet-by-wallet basis. Currently, you can track your cost basis across all your wallets and exchanges together (known as the “universal” method). Starting January 1, 2025,...

Crypto taxes for retirement accounts can be summarized into three categories – Every retirement account offers some tax perks. This includes reducing your yearly tax by contributions, growing investments without yearly taxes, and tax-free withdrawals at retirement. But obviously, you won’t get all three at the same time.  As...

Tax reporting for crypto day traders can be very challenging because day traders make many small, frequent trades throughout the day. This can quickly add up, making it hard to keep track of everything. Many of the options available to help with this problem are either not effective enough...

Crypto taxes for freelancers and remote workers mean paying capital gains taxes on profits and income taxes if you earn or get paid in crypto. But the catch is–freelancers can deduct business expenses, including home office and software costs. Cryptocurrency is becoming a popular choice among freelancers and remote...

If you’re looking for the best ERC-20 tokens, you probably already have some Bitcoin and are now exploring more investment opportunities. ERC-20 tokens can be a perfect next step.  Unlike Bitcoin, which is mainly a store of value, ERC-20 tokens are designed to work smoothly across various applications on...

Crypto ICOs (Initial Coin Offerings) are a way for blockchain projects to raise funds by selling tokens to investors. For taxes, profits from selling tokens are usually subject to capital gains tax, while tokens received as payment may be taxed as income, depending on your country’s laws. Early investors...

ERC-20 tokens are cryptocurrencies on the Ethereum blockchain that follow a specific set of rules and standards. Think of them like apps designed for iPhones; they are built to work seamlessly on the Ethereum network, just like iPhone apps are made to work on iOS. DeFi, or decentralized finance,...

DeFi tax reporting is simple once you understand the basics. But then, why is there so much confusion? Many countries haven’t released specific guidelines for DeFi transactions. Plus, some DeFi activities are more complex than others, dividing even the experts on their tax treatment. The Jarrett’s staking rewards lawsuit...

Finding the best platforms to trade crypto options can be overwhelming, especially with so many choices out there. Whether you’re a seasoned trader or just starting out, it’s tough to know which platform offers the right mix of security, low fees, and useful features. You’re not alone—many traders face...