Category: Everything Crypto

There are mainly two main crypto tax penalties in Germany –  a) Late tax filings incurring a minimum penalty of €25 per month, calculated at 0.25% of tax liability.  b) Late payments attracting a 1% monthly penalty on the unpaid amount. Are you a crypto investor in Germany facing...

The following are the most common IRS crypto tax notices and what they mean: IRS Notice CP2000 alerts you about mismatches in your reported crypto transactions, requiring your review and response. Letter 6173 indicates the potential underreporting of crypto activities, needing a mandatory response. Letter 6174 serves as an...

Amending tax returns for your crypto earnings can be a lifesaver for many, especially in the fast-paced world of cryptocurrencies, where tax obligations can sometimes take a back seat.  You’ve probably experienced the excitement of crypto gains, only to realize later that tax reporting got lost in the shuffle....

Crypto tax penalties are fines you pay if you don’t file your tax return or pay your taxes correctly or on time. Not clearing your penalties on time can further accrue interest over time, leading to significant tax liabilities.  That is why crypto investors and traders in the United...

Bitcoin halving is an inbuilt feature in the Bitcoin network that reduces the rewards miners receive for adding new transactions to the blockchain by 50%. It occurs approximately every four years to control inflation and maintain scarcity, ultimately influencing Bitcoin’s supply and potentially its price. In this guide, we...

Stablecoins have emerged as a vital component of the volatile crypto space, especially for trading. But with so many stablecoins out there, how do you pick the best one? That is where our carefully crafted list of best stablecoins in 2024 comes in.  In this guide, we will quickly...

With numerous crypto companies and startups moving their headquarters to Dubai, this place and its rapid ascent as a crypto hub have caught the attention of crypto enthusiasts worldwide. Whether you’re already in the region or considering a move, our list of the best crypto exchanges in Dubai and...

In most countries, crypto taxes for businesses follow the same framework as receiving income in crypto – personal or business income taxes on its fair market value when received. But there is a lot more to it than just that.  As crypto is growing relentlessly and penetrating the mainstream...

The decision between crypto tax software and a CPA depends on your specific situation. Consider your transaction complexity, budget, tech comfort, and time availability. Weigh the pros and cons, and remember, a hybrid approach is usually the best option. If you’re still not sure, consult with a CPA. With...

2023 is almost over. Here are the best year-end crypto tax saving strategies – harvest losses, bump up your business expenses, convert to retirement accounts, donate crypto, and more.  Crypto taxes can be tricky, but as the year ends, it’s key to get smart about them. This article will...