CRYPTOCURRENCY TAX PREPARATION
There has been quite a bit of confusion on how virtual currencies would be taxed. Some believe that all must be reported as capital gains, and some are just confused as to what to do with their 1099-K form from their Digital Currency Exchange.
You can be confident that our firm provides our individual and business clients with taxation expertise and knowledge that they deserve year round. It is our goal to build a long term relationship that you can rely on when you need professional assistance with a timely, personal approach.
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Some taxable events are:
• Selling cryptocurrency for fiat currency (i.e.,USD, CAD, EUR, JPY, etc.)
• Trading cryptocurrency for another cryptocurrency (e.g., BTC for ETH, does not require cashing out to USD to be taxable).
• Using cryptocurrency to buy a good or service.
• Earning cryptocurrency as wages, mining income, staking income, or interest income.
• Receiving cryptocurrency as a result of a hard fork or an airdrop.
Orlando Tax Master is here to bring tax clarity to those who currently hold crypto, or to those who are looking to do so in the future. Our goal is to make cryptocurrency taxation simple and easy to understand.
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